MUSSEN-ELECTRICS: 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.
MUSSEN-ELECTRICS
Largest movements
- Tangible fixed assets +€40,371
up €40,371 (+11.6%), from €347,277 to €387,648
of which Furniture and vehicles: +€58,929
- Receivables within one year -€25,752
down €25,752 (-15.4%), from €167,055 to €141,303
of which Trade receivables: -€16,991
- Cash +€23,032
up €23,032 (+68.7%), from €33,537 to €56,569
mainly Other debts (+€175,344) and Net result for the year (+€60,000)
- Stocks and contracts +€6,993
up €6,993 (+11.3%), from €61,710 to €68,703
- Other debts +€175,344
up €175,344 (+699%), from €25,090 to €200,434
- Reserves -€109,178
down €109,178 (-53.0%), from €206,148 to €96,971
of which Distributable reserves: -€109,178
- Profit (loss) carried forward -€30,823
down €30,823 (-100%), from €30,823 to €0
- Short-term financial debts +€17,767
up €17,767 (+268%), from €6,638 to €24,405
of which Credit institutions: +€10,048
- Debts after one year +€11,351
up €11,351 (+5.3%), from €215,317 to €226,669
- Gross operating margin +€29,667
up €29,667 (+28.5%), from €104,116 to €133,783
- Depreciation +€16,095
up €16,095 (+63.1%), from €25,495 to €41,590
- Taxes +€7,569
up €7,569 (+47.3%), from €15,993 to €23,562
- Financial charges +€1,897
up €1,897 (+29.3%), from €6,466 to €8,363
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 | €610,019 | €655,752 | +€45,733 | +7.5% |
| Fixed assets | 21/28 | €347,452 | €388,173 | +€40,721 | +11.7% |
| Tangible fixed assets | 22/27 | €347,277 | €387,648 | +€40,371 | +11.6% |
| Land and buildings | 22 | €274,078 | €254,082 | -€19,996 | -7.3% |
| Plant, machinery and equipment | 23 | €2,250 | €3,688 | +€1,439 | +63.9% |
| Furniture and vehicles | 24 | €70,949 | €129,877 | +€58,929 | +83.1% |
| Financial fixed assets | 28 | €175 | €525 | +€350 | +200% |
| Current assets | 29/58 | €262,567 | €267,579 | +€5,012 | +1.9% |
| Stocks and contracts in progress | 3 | €61,710 | €68,703 | +€6,993 | +11.3% |
| Stocks | 30/36 | €61,710 | €68,703 | +€6,993 | +11.3% |
| Amounts receivable within one year | 40/41 | €167,055 | €141,303 | -€25,752 | -15.4% |
| Trade receivables | 40 | €82,245 | €65,254 | -€16,991 | -20.7% |
| Other amounts receivable | 41 | €84,811 | €76,049 | -€8,762 | -10.3% |
| Cash at bank and in hand | 54/58 | €33,537 | €56,569 | +€23,032 | +68.7% |
| Deferred charges and accrued income | 490/1 | €264 | €1,003 | +€739 | +280% |
| Total equity and liabilities | 10/49 | €610,019 | €655,752 | +€45,733 | +7.5% |
| Equity | 10/15 | €256,971 | €116,971 | -€140,000 | -54.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €206,148 | €96,971 | -€109,178 | -53.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €206,148 | €96,971 | -€109,178 | -53.0% |
| Profit (loss) carried forward | 14 | €30,823 | €0 | -€30,823 | -100% |
| Amounts payable | 17/49 | €353,048 | €538,781 | +€185,733 | +52.6% |
| Amounts payable after more than one year | 17 | €215,317 | €226,669 | +€11,351 | +5.3% |
| Financial debts | 170/4 | €215,317 | €226,669 | +€11,351 | +5.3% |
| Amounts payable within one year | 42/48 | €137,269 | €312,079 | +€174,810 | +127% |
| Current portion of amounts payable after more than one year | 42 | €11,125 | €11,318 | +€193 | +1.7% |
| Financial debts | 43 | €6,638 | €24,405 | +€17,767 | +268% |
| Credit institutions | 430/8 | - | €10,048 | +€10,048 | |
| Other loans | 439 | €6,638 | €14,358 | +€7,720 | +116% |
| Trade debts | 44 | €56,038 | €45,780 | -€10,258 | -18.3% |
| Suppliers | 440/4 | €56,038 | €45,780 | -€10,258 | -18.3% |
| Taxes, remuneration and social security | 45 | €38,378 | €30,142 | -€8,236 | -21.5% |
| Taxes | 450/3 | €33,078 | €24,842 | -€8,236 | -24.9% |
| Remuneration and social security | 454/9 | €5,300 | €5,300 | = | 0.0% |
| Other amounts payable | 47/48 | €25,090 | €200,434 | +€175,344 | +699% |
| Accrued charges and deferred income | 492/3 | €461 | €33 | -€428 | -92.9% |
| Non-recurring operating income | 76A | - | €5,163 | +€5,163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,495 | €41,590 | +€16,095 | +63.1% |
| Other operating charges | 640/8 | €3,511 | €2,542 | -€969 | -27.6% |
| Non-recurring operating charges | 66A | - | €693 | +€693 | |
| Gross operating margin | 9900 | €104,116 | €133,783 | +€29,667 | +28.5% |
| Operating profit (loss) | 9901 | €75,110 | €88,958 | +€13,847 | +18.4% |
| Financial income | 75/76B | €3,214 | €2,967 | -€247 | -7.7% |
| Recurring financial income | 75 | €3,214 | €2,967 | -€247 | -7.7% |
| Financial charges | 65/66B | €6,466 | €8,363 | +€1,897 | +29.3% |
| Recurring financial charges | 65 | €6,466 | €8,363 | +€1,897 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €71,858 | €83,562 | +€11,704 | +16.3% |
| Income taxes | 67/77 | €15,993 | €23,562 | +€7,569 | +47.3% |
| Profit (loss) for the period | 9904 | €55,865 | €60,000 | +€4,135 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,865 | €60,000 | +€4,135 | +7.4% |
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 17 October 2026 via checked.be.