MUSA NAILS BELGIUM: what changed
MUSA NAILS BELGIUM
Largest movements
- Stocks and contracts -€35,701
down €35,701 (-67.6%), from €52,789 to €17,088
- Tangible fixed assets -€11,116
down €11,116 (-13.0%), from €85,292 to €74,177
of which Plant, machinery and equipment: -€11,057
- Receivables within one year +€4,222
up €4,222 (+88.3%), from €4,779 to €9,001
of which Trade receivables: +€4,533
- Deferred charges and accrued income +€1,810
up €1,810 (+186%), from €971 to €2,782
- Profit (loss) carried forward -€39,145
down €39,145, from €30,217 to -€8,928
- Other debts -€12,367
down €12,367 (-20.1%), from €61,580 to €49,212
- Short-term financial debts +€7,863
new in 2025: €7,863
- Trade debts +€5,673
up €5,673 (+53.3%), from €10,651 to €16,324
- Tax, wage and social debts -€2,691
down €2,691 (-6.8%), from €39,861 to €37,169
of which Taxes: -€8,247
- Gross operating margin -€97,896
down €97,896 (-74.5%), from €131,335 to €33,439
- Staff costs -€10,122
down €10,122 (-15.2%), from €66,715 to €56,592
- Taxes -€9,801
down €9,801 (-97.5%), from €10,049 to €248
- Other operating charges -€5,048
down €5,048 (-73.0%), from €6,916 to €1,868
- Depreciation -€3,180
down €3,180 (-20.7%), from €15,357 to €12,178
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 | €146,372 | €105,151 | -€41,221 | -28.2% |
| Fixed assets | 21/28 | €85,292 | €74,177 | -€11,116 | -13.0% |
| Tangible fixed assets | 22/27 | €85,292 | €74,177 | -€11,116 | -13.0% |
| Plant, machinery and equipment | 23 | €81,544 | €70,487 | -€11,057 | -13.6% |
| Furniture and vehicles | 24 | €3,749 | €3,690 | -€59 | -1.6% |
| Current assets | 29/58 | €61,080 | €30,974 | -€30,106 | -49.3% |
| Stocks and contracts in progress | 3 | €52,789 | €17,088 | -€35,701 | -67.6% |
| Stocks | 30/36 | €52,789 | €17,088 | -€35,701 | -67.6% |
| Amounts receivable within one year | 40/41 | €4,779 | €9,001 | +€4,222 | +88.3% |
| Trade receivables | 40 | €3,778 | €8,311 | +€4,533 | +120% |
| Other amounts receivable | 41 | €1,001 | €690 | -€311 | -31.1% |
| Cash at bank and in hand | 54/58 | €2,539 | €2,103 | -€437 | -17.2% |
| Deferred charges and accrued income | 490/1 | €971 | €2,782 | +€1,810 | +186% |
| Total equity and liabilities | 10/49 | €146,372 | €105,151 | -€41,221 | -28.2% |
| Equity | 10/15 | €32,217 | -€6,928 | -€39,145 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,217 | -€8,928 | -€39,145 | |
| Amounts payable | 17/49 | €114,154 | €112,078 | -€2,076 | -1.8% |
| Amounts payable after more than one year | 17 | €1,042 | - | -€1,042 | |
| Financial debts | 170/4 | €1,042 | - | -€1,042 | |
| Amounts payable within one year | 42/48 | €113,112 | €111,611 | -€1,501 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €1,021 | €1,042 | +€22 | +2.1% |
| Financial debts | 43 | - | €7,863 | +€7,863 | |
| Credit institutions | 430/8 | - | €7,863 | +€7,863 | |
| Trade debts | 44 | €10,651 | €16,324 | +€5,673 | +53.3% |
| Suppliers | 440/4 | €10,651 | €16,324 | +€5,673 | +53.3% |
| Taxes, remuneration and social security | 45 | €39,861 | €37,169 | -€2,691 | -6.8% |
| Taxes | 450/3 | €32,447 | €24,201 | -€8,247 | -25.4% |
| Remuneration and social security | 454/9 | €7,413 | €12,968 | +€5,555 | +74.9% |
| Other amounts payable | 47/48 | €61,580 | €49,212 | -€12,367 | -20.1% |
| Accrued charges and deferred income | 492/3 | - | €467 | +€467 | |
| Remuneration, social security and pensions | 62 | €66,715 | €56,592 | -€10,122 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,357 | €12,178 | -€3,180 | -20.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Other operating charges | 640/8 | €6,916 | €1,868 | -€5,048 | -73.0% |
| Gross operating margin | 9900 | €131,335 | €33,439 | -€97,896 | -74.5% |
| Operating profit (loss) | 9901 | €42,347 | -€37,199 | -€79,545 | |
| Financial income | 75/76B | €18 | €7 | -€11 | -59.8% |
| Recurring financial income | 75 | €18 | €7 | -€11 | -59.8% |
| Financial charges | 65/66B | €2,098 | €1,706 | -€392 | -18.7% |
| Recurring financial charges | 65 | €2,098 | €1,706 | -€392 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €40,266 | -€38,897 | -€79,164 | |
| Income taxes | 67/77 | €10,049 | €248 | -€9,801 | -97.5% |
| Profit (loss) for the period | 9904 | €30,217 | -€39,145 | -€69,362 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,217 | -€39,145 | -€69,362 |
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.