MUSTY: 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.
MUSTY
Largest movements
- Cash -€1,686
down €1,686 (-85.3%), from €1,977 to €291
mainly Net result for the year (-€14,428) and Receivables within one year (-€1,485)
- Receivables within one year +€1,485
up €1,485 (+172.1%), from €863 to €2,348
- Tangible fixed assets -€1,060
down €1,060 (-53.6%), from €1,978 to €918
- Profit (loss) carried forward -€14,428
down €14,428 (-53.2%), from -€27,102 to -€41,530
- Other debts +€11,668
up €11,668 (+171.9%), from €6,786 to €18,454
- Trade debts +€1,498
up €1,498 (+31.9%), from €4,699 to €6,197
- Other operating charges -€1,157
down €1,157 (-80.7%), from €1,433 to €277
- Gross operating margin +€829
up €829 (+6.0%), from -€13,728 to -€12,899
- Depreciation +€367
up €367 (+53.0%), from €693 to €1,060
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 | €4,843 | €3,581 | -€1,261 | -26.0% |
| Fixed assets | 21/28 | €1,978 | €918 | -€1,060 | -53.6% |
| Tangible fixed assets | 22/27 | €1,978 | €918 | -€1,060 | -53.6% |
| Furniture and vehicles | 24 | €1,978 | €918 | -€1,060 | -53.6% |
| Current assets | 29/58 | €2,865 | €2,664 | -€201 | -7.0% |
| Amounts receivable after more than one year | 29 | €25 | €25 | = | 0.0% |
| Trade receivables | 290 | €25 | €25 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €863 | €2,348 | +€1,485 | +172.1% |
| Other amounts receivable | 41 | €863 | €2,348 | +€1,485 | +172.1% |
| Cash at bank and in hand | 54/58 | €1,977 | €291 | -€1,686 | -85.3% |
| Total equity and liabilities | 10/49 | €4,843 | €3,581 | -€1,261 | -26.0% |
| Equity | 10/15 | -€6,642 | -€21,070 | -€14,428 | -217.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,102 | -€41,530 | -€14,428 | -53.2% |
| Amounts payable | 17/49 | €11,485 | €24,652 | +€13,167 | +114.6% |
| Amounts payable within one year | 42/48 | €11,485 | €24,652 | +€13,167 | +114.6% |
| Trade debts | 44 | €4,699 | €6,197 | +€1,498 | +31.9% |
| Suppliers | 440/4 | €4,699 | €6,197 | +€1,498 | +31.9% |
| Other amounts payable | 47/48 | €6,786 | €18,454 | +€11,668 | +171.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €693 | €1,060 | +€367 | +53.0% |
| Other operating charges | 640/8 | €1,433 | €277 | -€1,157 | -80.7% |
| Gross operating margin | 9900 | -€13,728 | -€12,899 | +€829 | +6.0% |
| Operating profit (loss) | 9901 | -€15,855 | -€14,236 | +€1,619 | +10.2% |
| Financial charges | 65/66B | €153 | €192 | +€39 | +25.4% |
| Recurring financial charges | 65 | €153 | €192 | +€39 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | -€16,008 | -€14,428 | +€1,580 | +9.9% |
| Profit (loss) for the period | 9904 | -€16,008 | -€14,428 | +€1,580 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,008 | -€14,428 | +€1,580 | +9.9% |
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 9 October 2026 via checked.be.