Must-B: what changed
Two fiscal 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.
Must-B
Largest movements
- Receivables within one year +€12,649
up €12,649 (+29742.2%), from €43 to €12,692
of which Trade receivables: +€11,600
- Cash +€5,754
up €5,754 (+460.4%), from €1,250 to €7,003
mainly Other debts (+€21,922) and Tax, wage and social debts (+€993)
- Other debts +€21,922
up €21,922 (+27.4%), from €79,878 to €101,799
- Profit (loss) carried forward -€3,475
down €3,475 (-30.0%), from -€11,582 to -€15,057
- Trade debts -€1,000
down €1,000 (-100.0%), from €1,000 to €0
- Tax, wage and social debts +€993
new in 2025: €993
- Gross operating margin +€1,114
up €1,114 (+32.1%), from -€3,471 to -€2,357
- Financial charges +€397
up €397 (+912.4%), from €44 to €440
- Other operating charges +€228
up €228 (+50.8%), from €449 to €677
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.
Cash bridge derived
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 | €74,332 | €92,735 | +€18,403 | +24.8% |
| Current assets | 29/58 | €74,332 | €92,735 | +€18,403 | +24.8% |
| Stocks and contracts in progress | 3 | €73,040 | €73,040 | = | 0.0% |
| Stocks | 30/36 | €73,040 | €73,040 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43 | €12,692 | +€12,649 | +29742.2% |
| Trade receivables | 40 | - | €11,600 | +€11,600 | |
| Other amounts receivable | 41 | €43 | €1,092 | +€1,049 | +2467.3% |
| Cash at bank and in hand | 54/58 | €1,250 | €7,003 | +€5,754 | +460.4% |
| Total equity and liabilities | 10/49 | €74,332 | €92,735 | +€18,403 | +24.8% |
| Equity | 10/15 | -€6,582 | -€10,057 | -€3,475 | -52.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,582 | -€15,057 | -€3,475 | -30.0% |
| Amounts payable | 17/49 | €80,914 | €102,792 | +€21,878 | +27.0% |
| Amounts payable within one year | 42/48 | €80,878 | €102,792 | +€21,915 | +27.1% |
| Trade debts | 44 | €1,000 | €0 | -€1,000 | -100.0% |
| Suppliers | 440/4 | €1,000 | €0 | -€1,000 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €993 | +€993 | |
| Taxes | 450/3 | - | €993 | +€993 | |
| Other amounts payable | 47/48 | €79,878 | €101,799 | +€21,922 | +27.4% |
| Accrued charges and deferred income | 492/3 | €37 | - | -€37 | |
| Other operating charges | 640/8 | €449 | €677 | +€228 | +50.8% |
| Gross operating margin | 9900 | -€3,471 | -€2,357 | +€1,114 | +32.1% |
| Operating profit (loss) | 9901 | -€3,920 | -€3,035 | +€886 | +22.6% |
| Financial charges | 65/66B | €44 | €440 | +€397 | +912.4% |
| Recurring financial charges | 65 | €44 | €440 | +€397 | +912.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,964 | -€3,475 | +€489 | +12.3% |
| Profit (loss) for the period | 9904 | -€3,964 | -€3,475 | +€489 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,964 | -€3,475 | +€489 | +12.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.