Muskaatnoot: 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.
Muskaatnoot
Largest movements
- Cash +€25,237
up €25,237 (+13.0%), from €194,083 to €219,320
mainly Net result for the year (+€58,276) and Receivables within one year (+€3,353)
- Current investments +€24,000
new in 2025: €24,000
- Receivables within one year -€3,353
down €3,353 (-15.1%), from €22,204 to €18,851
of which Trade receivables: -€3,914
- Reserves +€41,456
up €41,456 (+21.1%), from €196,594 to €238,050
of which Distributable reserves: +€41,456
- Gross operating margin +€11,962
up €11,962 (+18.9%), from €63,296 to €75,258
- Financial income +€3,807
up €3,807 (+2,457%), from €155 to €3,962
- Taxes +€3,588
up €3,588 (+23.5%), from €15,300 to €18,888
- Depreciation +€1,174
up €1,174 (+296%), from €396 to €1,570
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 | €244,080 | €288,399 | +€44,318 | +18.2% |
| Fixed assets | 21/28 | €26,498 | €25,710 | -€788 | -3.0% |
| Tangible fixed assets | 22/27 | €3,498 | €2,710 | -€788 | -22.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,498 | €2,710 | -€788 | -22.5% |
| Financial fixed assets | 28 | €23,000 | €23,000 | = | 0.0% |
| Current assets | 29/58 | €217,582 | €262,688 | +€45,106 | +20.7% |
| Amounts receivable within one year | 40/41 | €22,204 | €18,851 | -€3,353 | -15.1% |
| Trade receivables | 40 | €12,648 | €8,734 | -€3,914 | -30.9% |
| Other amounts receivable | 41 | €9,556 | €10,117 | +€561 | +5.9% |
| Current investments | 50/53 | - | €24,000 | +€24,000 | |
| Cash at bank and in hand | 54/58 | €194,083 | €219,320 | +€25,237 | +13.0% |
| Deferred charges and accrued income | 490/1 | €1,295 | €517 | -€778 | -60.1% |
| Total equity and liabilities | 10/49 | €244,080 | €288,399 | +€44,318 | +18.2% |
| Equity | 10/15 | €240,237 | €281,693 | +€41,456 | +17.3% |
| Contributions | 10/11 | €6,224 | €6,224 | = | 0.0% |
| Reserves | 13 | €196,594 | €238,050 | +€41,456 | +21.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €194,734 | €236,190 | +€41,456 | +21.3% |
| Profit (loss) carried forward | 14 | €37,419 | €37,419 | = | 0.0% |
| Amounts payable | 17/49 | €3,843 | €6,706 | +€2,862 | +74.5% |
| Amounts payable within one year | 42/48 | €3,808 | €6,706 | +€2,898 | +76.1% |
| Trade debts | 44 | €646 | €1,668 | +€1,022 | +158% |
| Suppliers | 440/4 | €646 | €1,668 | +€1,022 | +158% |
| Taxes, remuneration and social security | 45 | €3,162 | €5,038 | +€1,876 | +59.3% |
| Taxes | 450/3 | €3,162 | €5,038 | +€1,876 | +59.3% |
| Accrued charges and deferred income | 492/3 | €36 | €0 | -€36 | -100% |
| Non-recurring operating income | 76A | €130 | €0 | -€130 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396 | €1,570 | +€1,174 | +296% |
| Other operating charges | 640/8 | €906 | €419 | -€487 | -53.7% |
| Gross operating margin | 9900 | €63,296 | €75,258 | +€11,962 | +18.9% |
| Operating profit (loss) | 9901 | €61,994 | €73,269 | +€11,275 | +18.2% |
| Financial income | 75/76B | €155 | €3,962 | +€3,807 | +2,457% |
| Recurring financial income | 75 | €155 | €3,962 | +€3,807 | +2,457% |
| Financial charges | 65/66B | €54 | €67 | +€13 | +24.6% |
| Recurring financial charges | 65 | €54 | €67 | +€13 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €62,095 | €77,164 | +€15,068 | +24.3% |
| Income taxes | 67/77 | €15,300 | €18,888 | +€3,588 | +23.5% |
| Profit (loss) for the period | 9904 | €46,796 | €58,276 | +€11,481 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,796 | €58,276 | +€11,481 | +24.5% |
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 31 October 2026 via checked.be.