Murrayfield: what changed
Murrayfield
Largest movements
- Cash +€49,132
up €49,132 (+71.0%), from €69,218 to €118,351
mainly Net result for the year (+€39,984) and Receivables within one year (+€13,318)
- Receivables within one year -€13,318
down €13,318 (-51.7%), from €25,744 to €12,426
- Intangible fixed assets -€12,857
down €12,857 (-49.9%), from €25,769 to €12,912
- Profit (loss) carried forward +€39,984
up €39,984 (+73.6%), from €54,336 to €94,320
- Other debts -€11,311
down €11,311 (-45.2%), from €25,049 to €13,738
- Current portion of long-term debt -€6,910
down €6,910 (-74.8%), from €9,243 to €2,333
- Tax, wage and social debts +€3,902
up €3,902 (+15.7%), from €24,800 to €28,702
- Debts after one year -€2,333
down €2,333 (-100%), from €2,333 to €0
- Gross operating margin +€16,803
up €16,803 (+32.3%), from €52,001 to €68,804
- Taxes +€3,336
up €3,336 (+38.0%), from €8,768 to €12,103
- Financial charges -€748
down €748 (-24.6%), from €3,045 to €2,297
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,246 | €148,000 | +€22,753 | +18.2% |
| Fixed assets | 21/28 | €27,976 | €14,788 | -€13,187 | -47.1% |
| Intangible fixed assets | 21 | €25,769 | €12,912 | -€12,857 | -49.9% |
| Tangible fixed assets | 22/27 | €2,163 | €1,833 | -€330 | -15.3% |
| Other tangible fixed assets | 26 | €2,163 | €1,833 | -€330 | -15.3% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €97,271 | €133,212 | +€35,941 | +36.9% |
| Amounts receivable within one year | 40/41 | €25,744 | €12,426 | -€13,318 | -51.7% |
| Trade receivables | 40 | €25,744 | €12,426 | -€13,318 | -51.7% |
| Cash at bank and in hand | 54/58 | €69,218 | €118,351 | +€49,132 | +71.0% |
| Deferred charges and accrued income | 490/1 | €2,309 | €2,435 | +€127 | +5.5% |
| Total equity and liabilities | 10/49 | €125,246 | €148,000 | +€22,753 | +18.2% |
| Equity | 10/15 | €59,336 | €99,320 | +€39,984 | +67.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,336 | €94,320 | +€39,984 | +73.6% |
| Amounts payable | 17/49 | €65,910 | €48,680 | -€17,230 | -26.1% |
| Amounts payable after more than one year | 17 | €2,333 | €0 | -€2,333 | -100% |
| Financial debts | 170/4 | €2,333 | €0 | -€2,333 | -100% |
| Amounts payable within one year | 42/48 | €62,157 | €47,337 | -€14,820 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €9,243 | €2,333 | -€6,910 | -74.8% |
| Trade debts | 44 | €3,065 | €2,564 | -€501 | -16.3% |
| Suppliers | 440/4 | €3,065 | €2,564 | -€501 | -16.3% |
| Taxes, remuneration and social security | 45 | €24,800 | €28,702 | +€3,902 | +15.7% |
| Taxes | 450/3 | €24,800 | €28,702 | +€3,902 | +15.7% |
| Other amounts payable | 47/48 | €25,049 | €13,738 | -€11,311 | -45.2% |
| Accrued charges and deferred income | 492/3 | €1,420 | €1,343 | -€77 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,187 | €13,187 | = | 0.0% |
| Other operating charges | 640/8 | €1,478 | €1,232 | -€247 | -16.7% |
| Gross operating margin | 9900 | €52,001 | €68,804 | +€16,803 | +32.3% |
| Operating profit (loss) | 9901 | €37,335 | €54,385 | +€17,049 | +45.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €3,045 | €2,297 | -€748 | -24.6% |
| Recurring financial charges | 65 | €3,045 | €2,297 | -€748 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €34,291 | €52,087 | +€17,797 | +51.9% |
| Income taxes | 67/77 | €8,768 | €12,103 | +€3,336 | +38.0% |
| Profit (loss) for the period | 9904 | €25,523 | €39,984 | +€14,461 | +56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,523 | €39,984 | +€14,461 | +56.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.