MUSHI: 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.
MUSHI
Largest movements
- Cash +€60,390
up €60,390 (+52.8%), from €114,383 to €174,772
mainly Net result for the year (+€44,451) and Accrued charges and deferred income (+€28,623)
- Current investments +€29,340
new in 2025: €29,340
- Receivables within one year +€22,834
up €22,834 (+21.6%), from €105,790 to €128,623
- Profit (loss) carried forward +€44,451
up €44,451 (+21.3%), from €208,778 to €253,228
- Accrued charges and deferred income +€28,623
new in 2025: €28,623
- Tax, wage and social debts +€15,664
up €15,664 (+52.9%), from €29,616 to €45,280
- Trade debts +€13,865
up €13,865 (+43.9%), from €31,572 to €45,438
- Other debts +€9,690
up €9,690 (+1,029%), from €942 to €10,632
- Gross operating margin +€22,002
up €22,002 (+14.8%), from €148,187 to €170,189
- Staff costs +€9,546
up €9,546 (+10.6%), from €90,276 to €99,822
- Financial income +€2,357
up €2,357 (+24,703%), from €10 to €2,366
- Other operating charges +€2,119
up €2,119 (+89.8%), from €2,358 to €4,477
- Taxes +€1,769
up €1,769 (+12.1%), from €14,622 to €16,391
From the 2024 result to the 2025 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 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,967 | €391,261 | +€112,294 | +40.3% |
| Fixed assets | 21/28 | €15,735 | €18,050 | +€2,314 | +14.7% |
| Tangible fixed assets | 22/27 | €15,735 | €18,050 | +€2,314 | +14.7% |
| Land and buildings | 22 | €11,129 | €7,708 | -€3,421 | -30.7% |
| Plant, machinery and equipment | 23 | €4,606 | €10,342 | +€5,736 | +125% |
| Current assets | 29/58 | €263,232 | €373,211 | +€109,979 | +41.8% |
| Stocks and contracts in progress | 3 | €41,320 | €39,160 | -€2,160 | -5.2% |
| Stocks | 30/36 | €41,320 | €39,160 | -€2,160 | -5.2% |
| Amounts receivable within one year | 40/41 | €105,790 | €128,623 | +€22,834 | +21.6% |
| Other amounts receivable | 41 | €105,790 | €128,623 | +€22,834 | +21.6% |
| Current investments | 50/53 | - | €29,340 | +€29,340 | |
| Cash at bank and in hand | 54/58 | €114,383 | €174,772 | +€60,390 | +52.8% |
| Deferred charges and accrued income | 490/1 | €1,740 | €1,316 | -€424 | -24.4% |
| Total equity and liabilities | 10/49 | €278,967 | €391,261 | +€112,294 | +40.3% |
| Equity | 10/15 | €216,838 | €261,288 | +€44,451 | +20.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,778 | €253,228 | +€44,451 | +21.3% |
| Amounts payable | 17/49 | €62,129 | €129,972 | +€67,843 | +109% |
| Amounts payable within one year | 42/48 | €62,129 | €101,349 | +€39,220 | +63.1% |
| Trade debts | 44 | €31,572 | €45,438 | +€13,865 | +43.9% |
| Suppliers | 440/4 | €31,572 | €45,438 | +€13,865 | +43.9% |
| Taxes, remuneration and social security | 45 | €29,616 | €45,280 | +€15,664 | +52.9% |
| Taxes | 450/3 | €29,616 | €45,280 | +€15,664 | +52.9% |
| Other amounts payable | 47/48 | €942 | €10,632 | +€9,690 | +1,029% |
| Accrued charges and deferred income | 492/3 | - | €28,623 | +€28,623 | |
| Remuneration, social security and pensions | 62 | €90,276 | €99,822 | +€9,546 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,126 | €6,472 | +€346 | +5.6% |
| Other operating charges | 640/8 | €2,358 | €4,477 | +€2,119 | +89.8% |
| Non-recurring operating charges | 66A | €12 | €54 | +€42 | +350% |
| Gross operating margin | 9900 | €148,187 | €170,189 | +€22,002 | +14.8% |
| Operating profit (loss) | 9901 | €49,415 | €59,363 | +€9,949 | +20.1% |
| Financial income | 75/76B | €10 | €2,366 | +€2,357 | +24,703% |
| Recurring financial income | 75 | €10 | €2,366 | +€2,357 | +24,703% |
| Financial charges | 65/66B | €1,839 | €888 | -€951 | -51.7% |
| Recurring financial charges | 65 | €1,834 | €863 | -€971 | -53.0% |
| Non-recurring financial charges | 66B | €5 | €25 | +€20 | +400% |
| Profit (loss) for the period before taxes | 9903 | €47,585 | €60,842 | +€13,257 | +27.9% |
| Income taxes | 67/77 | €14,622 | €16,391 | +€1,769 | +12.1% |
| Profit (loss) for the period | 9904 | €32,963 | €44,451 | +€11,487 | +34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,963 | €44,451 | +€11,487 | +34.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.