MUSKAA: 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.
MUSKAA
Largest movements
- Receivables within one year -€3,758
no longer reported in 2025 (was €3,758)
- Stocks and contracts -€3,101
down €3,101 (-5.2%), from €59,760 to €56,659
- Tangible fixed assets -€1,351
no longer reported in 2025 (was €1,351)
of which Furniture and vehicles: -€1,229
- Trade debts -€39,241
down €39,241 (-57.4%), from €68,416 to €29,175
- Other debts +€32,871
up €32,871 (+214%), from €15,368 to €48,239
- Tax, wage and social debts -€4,404
down €4,404 (-9.4%), from €46,697 to €42,293
of which Taxes: -€3,875
- Profit (loss) carried forward +€1,482
up €1,482 (+1.8%), from -€81,243 to -€79,761
- Gross operating margin +€12,730
up €12,730 (+186%), from €6,857 to €19,587
- Staff costs -€11,896
no longer reported in 2025 (was €11,896)
- Depreciation -€1,441
down €1,441 (-51.6%), from €2,792 to €1,351
- Taxes -€530
no longer reported in 2025 (was €530)
- Other operating charges +€196
up €196 (+15.3%), from €1,284 to €1,480
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 | €67,958 | €58,666 | -€9,292 | -13.7% |
| Fixed assets | 21/28 | €1,351 | - | -€1,351 | |
| Tangible fixed assets | 22/27 | €1,351 | - | -€1,351 | |
| Land and buildings | 22 | €122 | - | -€122 | |
| Furniture and vehicles | 24 | €1,229 | - | -€1,229 | |
| Current assets | 29/58 | €66,607 | €58,666 | -€7,941 | -11.9% |
| Stocks and contracts in progress | 3 | €59,760 | €56,659 | -€3,101 | -5.2% |
| Stocks | 30/36 | €59,760 | €56,659 | -€3,101 | -5.2% |
| Amounts receivable within one year | 40/41 | €3,758 | - | -€3,758 | |
| Other amounts receivable | 41 | €3,758 | - | -€3,758 | |
| Cash at bank and in hand | 54/58 | €2,681 | €2,007 | -€674 | -25.1% |
| Deferred charges and accrued income | 490/1 | €408 | - | -€408 | |
| Total equity and liabilities | 10/49 | €67,958 | €58,666 | -€9,292 | -13.7% |
| Equity | 10/15 | -€62,523 | -€61,041 | +€1,482 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120 | €120 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120 | €120 | = | 0.0% |
| Legal reserve | 130 | €120 | €120 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,243 | -€79,761 | +€1,482 | +1.8% |
| Amounts payable | 17/49 | €130,481 | €119,707 | -€10,774 | -8.3% |
| Amounts payable within one year | 42/48 | €130,481 | €119,707 | -€10,774 | -8.3% |
| Trade debts | 44 | €68,416 | €29,175 | -€39,241 | -57.4% |
| Suppliers | 440/4 | €68,416 | €29,175 | -€39,241 | -57.4% |
| Taxes, remuneration and social security | 45 | €46,697 | €42,293 | -€4,404 | -9.4% |
| Taxes | 450/3 | €10,177 | €6,302 | -€3,875 | -38.1% |
| Remuneration and social security | 454/9 | €36,520 | €35,991 | -€529 | -1.4% |
| Other amounts payable | 47/48 | €15,368 | €48,239 | +€32,871 | +214% |
| Remuneration, social security and pensions | 62 | €11,896 | - | -€11,896 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,792 | €1,351 | -€1,441 | -51.6% |
| Other operating charges | 640/8 | €1,284 | €1,480 | +€196 | +15.3% |
| Non-recurring operating charges | 66A | - | €15,000 | +€15,000 | |
| Gross operating margin | 9900 | €6,857 | €19,587 | +€12,730 | +186% |
| Operating profit (loss) | 9901 | -€9,115 | €1,756 | +€10,871 | |
| Financial charges | 65/66B | €402 | €274 | -€128 | -31.8% |
| Recurring financial charges | 65 | €402 | €274 | -€128 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,517 | €1,482 | +€10,999 | |
| Income taxes | 67/77 | €530 | - | -€530 | |
| Profit (loss) for the period | 9904 | -€10,047 | €1,482 | +€11,529 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,047 | €1,482 | +€11,529 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.