MUSSENHOEVE: 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
MUSSENHOEVE
NACE 70.100, Activities of head offices
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€5,507
2023 · €11,571-€6,064
Equity
€291,254
2023 · €285,747+€5,507
Cash
€317
2023 · €3,584-€3,267
Balance sheet total
€6.9m
2023 · €6.1m+€733,065
Largest movements
Assets
- Tangible fixed assets +€621,465
up €621,465 (+10.6%), from €5.9m to €6.5m
of which Assets under construction and advance payments: +€685,764
- Receivables within one year +€117,082
up €117,082 (+304%), from €38,569 to €155,651
Equity and liabilities
- Debts after one year +€485,763
up €485,763 (+8.7%), from €5.6m to €6.1m
of which Other amounts payable: +€679,115
- Trade debts +€205,285
up €205,285 (+931%), from €22,046 to €227,331
Income statement
- Depreciation +€14,024
up €14,024 (+7.7%), from €182,641 to €196,664
- Other operating charges +€11,933
up €11,933 (+165%), from €7,246 to €19,178
- Financial charges -€9,221
down €9,221 (-16.9%), from €54,662 to €45,441
- Staff costs -€5,558
down €5,558 (-7.8%), from €71,162 to €65,603
- Gross operating margin +€4,607
up €4,607 (+1.4%), from €329,899 to €334,506
From the 2023 result to the 2024 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 2023
€11,571
Gross operating margin
+€4,607
Staff costs
+€5,558
Depreciation
-€14,024
Other operating charges
-€11,933
Financial income
+€3,539
Financial charges
+€9,221
Taxes
-€3,032
Result 2024
€5,507
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€301,409
Investment
-€818,129
Financing
+€513,453
Cash 2023
€3,584
From operations (derived)
+€301,409
Net result for the year
+€5,507
Depreciation
+€196,664
Receivables after one year
-€1,345
Receivables within one year
-€117,082
Deferred charges and accrued income
+€3,559
Trade debts
+€205,285
Tax, wage and social debts
+€8,820
Investment (derived)
-€818,129
Investment in fixed assets (net)
-€818,129
Financing
+€513,453
Debts after one year
+€485,763
Current portion of long-term debt
+€26,930
Short-term financial debts
+€761
Cash 2024
€317
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,149,629 | €6,882,695 | +€733,065 | +11.9% |
| Fixed assets | 21/28 | €5,858,586 | €6,480,051 | +€621,465 | +10.6% |
| Tangible fixed assets | 22/27 | €5,854,586 | €6,476,051 | +€621,465 | +10.6% |
| Land and buildings | 22 | €5,400,790 | €5,298,224 | -€102,567 | -1.9% |
| Plant, machinery and equipment | 23 | €15,548 | €54,089 | +€38,541 | +248% |
| Furniture and vehicles | 24 | €14,327 | €14,054 | -€273 | -1.9% |
| Assets under construction and advance payments | 27 | €423,920 | €1,109,685 | +€685,764 | +162% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €291,043 | €402,644 | +€111,601 | +38.3% |
| Amounts receivable after more than one year | 29 | - | €1,345 | +€1,345 | |
| Other amounts receivable | 291 | - | €1,345 | +€1,345 | |
| Amounts receivable within one year | 40/41 | €38,569 | €155,651 | +€117,082 | +304% |
| Trade receivables | 40 | €38,569 | €155,651 | +€117,082 | +304% |
| Current investments | 50/53 | €8 | €8 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,584 | €317 | -€3,267 | -91.2% |
| Deferred charges and accrued income | 490/1 | €248,882 | €245,323 | -€3,559 | -1.4% |
| Total equity and liabilities | 10/49 | €6,149,629 | €6,882,695 | +€733,065 | +11.9% |
| Equity | 10/15 | €285,747 | €291,254 | +€5,507 | +1.9% |
| Contributions | 10/11 | €195,000 | €195,000 | = | 0.0% |
| Capital | 10 | €195,000 | €195,000 | = | 0.0% |
| Issued capital | 100 | €195,000 | €195,000 | = | 0.0% |
| Revaluation surpluses | 12 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €32,501 | €32,501 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,500 | €19,500 | = | 0.0% |
| Legal reserve | 130 | €19,500 | €19,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,900 | €8,900 | = | 0.0% |
| Distributable reserves | 133 | €4,100 | €4,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,247 | €13,754 | +€5,507 | +66.8% |
| Amounts payable | 17/49 | €5,863,882 | €6,591,440 | +€727,558 | +12.4% |
| Amounts payable after more than one year | 17 | €5,580,379 | €6,066,142 | +€485,763 | +8.7% |
| Financial debts | 170/4 | €4,708,891 | €4,515,538 | -€193,353 | -4.1% |
| Other amounts payable | 178/9 | €871,488 | €1,550,603 | +€679,115 | +77.9% |
| Amounts payable within one year | 42/48 | €283,503 | €525,299 | +€241,796 | +85.3% |
| Current portion of amounts payable after more than one year | 42 | €218,207 | €245,137 | +€26,930 | +12.3% |
| Financial debts | 43 | - | €761 | +€761 | |
| Credit institutions | 430/8 | - | €761 | +€761 | |
| Trade debts | 44 | €22,046 | €227,331 | +€205,285 | +931% |
| Suppliers | 440/4 | €22,046 | €227,331 | +€205,285 | +931% |
| Taxes, remuneration and social security | 45 | €40,215 | €49,035 | +€8,820 | +21.9% |
| Taxes | 450/3 | €26,759 | €33,261 | +€6,502 | +24.3% |
| Remuneration and social security | 454/9 | €13,456 | €15,774 | +€2,318 | +17.2% |
| Other amounts payable | 47/48 | €3,036 | €3,036 | = | 0.0% |
| Non-recurring operating income | 76A | €1,261 | €0 | -€1,261 | -100% |
| Remuneration, social security and pensions | 62 | €71,162 | €65,603 | -€5,558 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,641 | €196,664 | +€14,024 | +7.7% |
| Other operating charges | 640/8 | €7,246 | €19,178 | +€11,933 | +165% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €329,899 | €334,506 | +€4,607 | +1.4% |
| Operating profit (loss) | 9901 | €68,851 | €53,060 | -€15,791 | -22.9% |
| Financial income | 75/76B | - | €3,539 | +€3,539 | |
| Recurring financial income | 75 | - | €3,539 | +€3,539 | |
| Financial charges | 65/66B | €54,662 | €45,441 | -€9,221 | -16.9% |
| Recurring financial charges | 65 | €54,662 | €45,441 | -€9,221 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €14,189 | €11,157 | -€3,032 | -21.4% |
| Income taxes | 67/77 | €2,618 | €5,650 | +€3,032 | +116% |
| Profit (loss) for the period | 9904 | €11,571 | €5,507 | -€6,064 | -52.4% |
| Transfer to tax-exempt reserves | 689 | €8,900 | €0 | -€8,900 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €2,671 | €5,507 | +€2,836 | +106% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.