Mus-E Belgium: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Mus-E Belgium
Largest movements
- Receivables within one year +€126,497
up €126,497 (+75.6%), from €167,421 to €293,918
of which Trade receivables: +€114,503
- Cash -€99,462
down €99,462 (-19.2%), from €519,269 to €419,807
mainly Receivables within one year (-€126,497) and Trade debts (-€31,425)
- Profit (loss) carried forward +€45,807
up €45,807 (+13.1%), from €349,277 to €395,084
- Trade debts -€31,425
down €31,425 (-68.4%), from €45,941 to €14,516
- Accrued charges and deferred income +€17,017
up €17,017 (+6.7%), from €253,775 to €270,792
- Gross operating margin +€103,004
up €103,004 (+20.1%), from €513,607 to €616,611
- Staff costs +€84,804
up €84,804 (+17.6%), from €481,322 to €566,126
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €699,307 | €724,392 | +€25,085 | +3.6% |
| Fixed assets | 21/28 | €12,617 | €10,667 | -€1,950 | -15.5% |
| Tangible fixed assets | 22/27 | €4,027 | €2,077 | -€1,950 | -48.4% |
| Furniture and vehicles | 24 | €4,027 | €2,077 | -€1,950 | -48.4% |
| Financial fixed assets | 28 | €8,590 | €8,590 | = | 0.0% |
| Current assets | 29/58 | €686,690 | €713,725 | +€27,035 | +3.9% |
| Amounts receivable within one year | 40/41 | €167,421 | €293,918 | +€126,497 | +75.6% |
| Trade receivables | 40 | €55,580 | €170,082 | +€114,503 | +206% |
| Other amounts receivable | 41 | €111,841 | €123,836 | +€11,995 | +10.7% |
| Cash at bank and in hand | 54/58 | €519,269 | €419,807 | -€99,462 | -19.2% |
| Total equity and liabilities | 10/49 | €699,307 | €724,392 | +€25,085 | +3.6% |
| Equity | 10/15 | €349,277 | €395,084 | +€45,807 | +13.1% |
| Profit (loss) carried forward | 14 | €349,277 | €395,084 | +€45,807 | +13.1% |
| Amounts payable | 17/49 | €350,030 | €329,307 | -€20,723 | -5.9% |
| Amounts payable within one year | 42/48 | €96,255 | €58,515 | -€37,740 | -39.2% |
| Trade debts | 44 | €45,941 | €14,516 | -€31,425 | -68.4% |
| Suppliers | 440/4 | €45,941 | €14,516 | -€31,425 | -68.4% |
| Taxes, remuneration and social security | 45 | €50,314 | €44,000 | -€6,315 | -12.6% |
| Remuneration and social security | 454/9 | €50,314 | €44,000 | -€6,315 | -12.6% |
| Accrued charges and deferred income | 492/3 | €253,775 | €270,792 | +€17,017 | +6.7% |
| Remuneration, social security and pensions | 62 | €481,322 | €566,126 | +€84,804 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,983 | €3,499 | +€516 | +17.3% |
| Non-recurring operating charges | 66A | - | €270 | +€270 | |
| Gross operating margin | 9900 | €513,607 | €616,611 | +€103,004 | +20.1% |
| Operating profit (loss) | 9901 | €29,303 | €46,715 | +€17,413 | +59.4% |
| Financial income | 75/76B | €0 | €41 | +€41 | +103,575% |
| Recurring financial income | 75 | €0 | €41 | +€41 | +103,575% |
| Financial charges | 65/66B | €492 | €949 | +€458 | +93.1% |
| Recurring financial charges | 65 | €492 | €949 | +€458 | +93.1% |
| Profit (loss) for the period before taxes | 9903 | €28,811 | €45,807 | +€16,997 | +59.0% |
| Profit (loss) for the period | 9904 | €28,811 | €45,807 | +€16,997 | +59.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,811 | €45,807 | +€16,997 | +59.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.