MUSSCHOOT - CLOSSE: 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.
What changed
MUSSCHOOT - CLOSSE
NACE 47.221, Retail sale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€322,634
2024 · €311,215+€11,419
Equity
€1.3m
2024 · €1.0m+€252,634
Cash
€877,703
2024 · €748,206+€129,498
Balance sheet total
€1.7m
2024 · €1.4m+€247,436
Largest movements
Assets
- Current investments +€250,000
new in 2025: €250,000
- Cash +€129,498
up €129,498 (+17.3%), from €748,206 to €877,703
mainly Net result for the year (+€322,634) and Depreciation (+€122,969)
- Tangible fixed assets -€111,807
down €111,807 (-18.7%), from €596,836 to €485,029
- Receivables within one year -€24,436
down €24,436 (-47.9%), from €51,042 to €26,606
of which Other amounts receivable: -€25,325
Equity and liabilities
- Reserves +€252,634
up €252,634 (+24.6%), from €1.0m to €1.3m
of which Distributable reserves: +€252,634
- Debts after one year -€30,155
down €30,155 (-16.5%), from €183,297 to €153,142
Income statement
- Gross operating margin +€35,779
up €35,779 (+3.9%), from €917,328 to €953,107
- Staff costs +€19,716
up €19,716 (+5.8%), from €337,525 to €357,241
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.
Result 2024
€311,215
Gross operating margin
+€35,779
Staff costs
-€19,716
Depreciation
-€1,366
Other operating charges
-€94
Financial income
+€4,198
Financial charges
-€667
Taxes
-€6,715
Result 2025
€322,634
raises the resultlowers the result
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.
From operations
+€490,327
Investment
-€261,096
Financing
-€99,733
Cash 2024
€748,206
From operations (derived)
+€490,327
Net result for the year
+€322,634
Depreciation
+€122,969
Stocks and contracts
-€3,925
Receivables within one year
+€24,436
Smaller working-capital items
-€1,103
Trade debts
+€10,179
Tax, wage and social debts
-€1,105
Other debts
+€15,074
Accrued charges and deferred income
+€1,168
Investment (derived)
-€261,096
Investment in fixed assets (net)
-€11,096
Current investments
-€250,000
Financing
-€99,733
Debts after one year
-€30,155
Current portion of long-term debt
+€421
Contributions, distributions and other
-€70,000
Cash 2025
€877,703
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,412,490 | €1,659,926 | +€247,436 | +17.5% |
| Fixed assets | 21/28 | €596,902 | €485,029 | -€111,873 | -18.7% |
| Tangible fixed assets | 22/27 | €596,836 | €485,029 | -€111,807 | -18.7% |
| Land and buildings | 22 | €184,943 | €152,188 | -€32,756 | -17.7% |
| Plant, machinery and equipment | 23 | €323,582 | €267,952 | -€55,630 | -17.2% |
| Furniture and vehicles | 24 | €82,009 | €59,737 | -€22,273 | -27.2% |
| Other tangible fixed assets | 26 | €6,301 | €5,152 | -€1,149 | -18.2% |
| Financial fixed assets | 28 | €66 | - | -€66 | |
| Current assets | 29/58 | €815,589 | €1,174,897 | +€359,309 | +44.1% |
| Stocks and contracts in progress | 3 | €11,075 | €15,000 | +€3,925 | +35.4% |
| Stocks | 30/36 | €11,075 | €15,000 | +€3,925 | +35.4% |
| Amounts receivable within one year | 40/41 | €51,042 | €26,606 | -€24,436 | -47.9% |
| Trade receivables | 40 | €1,920 | €2,809 | +€889 | +46.3% |
| Other amounts receivable | 41 | €49,121 | €23,797 | -€25,325 | -51.6% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €748,206 | €877,703 | +€129,498 | +17.3% |
| Deferred charges and accrued income | 490/1 | €5,266 | €5,589 | +€322 | +6.1% |
| Total equity and liabilities | 10/49 | €1,412,490 | €1,659,926 | +€247,436 | +17.5% |
| Equity | 10/15 | €1,046,479 | €1,299,113 | +€252,634 | +24.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,027,479 | €1,280,113 | +€252,634 | +24.6% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €1,025,579 | €1,278,213 | +€252,634 | +24.6% |
| Amounts payable | 17/49 | €366,011 | €360,813 | -€5,198 | -1.4% |
| Amounts payable after more than one year | 17 | €183,297 | €153,142 | -€30,155 | -16.5% |
| Financial debts | 170/4 | €183,297 | €153,142 | -€30,155 | -16.5% |
| Amounts payable within one year | 42/48 | €182,715 | €206,503 | +€23,788 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €29,733 | €30,155 | +€421 | +1.4% |
| Trade debts | 44 | €75,971 | €86,150 | +€10,179 | +13.4% |
| Suppliers | 440/4 | €75,971 | €86,150 | +€10,179 | +13.4% |
| Advances received on contracts in progress | 46 | €1,708 | €927 | -€781 | -45.7% |
| Taxes, remuneration and social security | 45 | €75,303 | €74,198 | -€1,105 | -1.5% |
| Taxes | 450/3 | €39,347 | €36,519 | -€2,828 | -7.2% |
| Remuneration and social security | 454/9 | €35,956 | €37,679 | +€1,723 | +4.8% |
| Other amounts payable | 47/48 | - | €15,074 | +€15,074 | |
| Accrued charges and deferred income | 492/3 | - | €1,168 | +€1,168 | |
| Remuneration, social security and pensions | 62 | €337,525 | €357,241 | +€19,716 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,603 | €122,969 | +€1,366 | +1.1% |
| Other operating charges | 640/8 | €3,579 | €3,673 | +€94 | +2.6% |
| Gross operating margin | 9900 | €917,328 | €953,107 | +€35,779 | +3.9% |
| Operating profit (loss) | 9901 | €454,620 | €469,223 | +€14,603 | +3.2% |
| Financial income | 75/76B | €1,246 | €5,444 | +€4,198 | +337% |
| Recurring financial income | 75 | €1,246 | €5,444 | +€4,198 | +337% |
| Financial charges | 65/66B | €4,116 | €4,783 | +€667 | +16.2% |
| Recurring financial charges | 65 | €4,116 | €4,783 | +€667 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €451,750 | €469,884 | +€18,134 | +4.0% |
| Income taxes | 67/77 | €140,535 | €147,250 | +€6,715 | +4.8% |
| Profit (loss) for the period | 9904 | €311,215 | €322,634 | +€11,419 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €311,215 | €322,634 | +€11,419 | +3.7% |
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 27 October 2026 via checked.be.