MUT: 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.
MUT
Largest movements
- Receivables within one year +€4,345
up €4,345 (+34.7%), from €12,538 to €16,884
of which Trade receivables: +€4,648
- Cash -€2,503
down €2,503 (-26.5%), from €9,441 to €6,938
mainly Trade debts (-€13,428) and Receivables within one year (-€4,345)
- Tangible fixed assets -€1,000
down €1,000 (-13.4%), from €7,452 to €6,452
- Trade debts -€13,428
down €13,428 (-46.3%), from €29,033 to €15,604
- Profit (loss) carried forward +€9,002
up €9,002 (+77.5%), from -€11,609 to -€2,607
- Other debts +€3,325
up €3,325 (+80.0%), from €4,158 to €7,483
- Tax, wage and social debts +€2,453
up €2,453 (+33.4%), from €7,339 to €9,792
of which Remuneration and social security: +€2,774
- Accrued charges and deferred income -€509
no longer reported in 2025 (was €509)
- Purchases and services -€143,661
no longer reported in 2025 (was €143,661)
- Gross operating margin +€8,482
up €8,482 (+17.7%), from €47,881 to €56,363
- Financial charges +€1,414
up €1,414 (+522.1%), from €271 to €1,685
- Staff costs -€1,349
down €1,349 (-3.0%), from €45,655 to €44,306
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 | €29,431 | €30,274 | +€843 | +2.9% |
| Fixed assets | 21/28 | €7,452 | €6,452 | -€1,000 | -13.4% |
| Tangible fixed assets | 22/27 | €7,452 | €6,452 | -€1,000 | -13.4% |
| Land and buildings | 22 | €7,452 | €6,452 | -€1,000 | -13.4% |
| Current assets | 29/58 | €21,979 | €23,822 | +€1,843 | +8.4% |
| Amounts receivable within one year | 40/41 | €12,538 | €16,884 | +€4,345 | +34.7% |
| Trade receivables | 40 | €10,600 | €15,248 | +€4,648 | +43.9% |
| Other amounts receivable | 41 | €1,938 | €1,635 | -€303 | -15.6% |
| Cash at bank and in hand | 54/58 | €9,441 | €6,938 | -€2,503 | -26.5% |
| Total equity and liabilities | 10/49 | €29,431 | €30,274 | +€843 | +2.9% |
| Equity | 10/15 | -€11,608 | -€2,606 | +€9,002 | +77.6% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,609 | -€2,607 | +€9,002 | +77.5% |
| Amounts payable | 17/49 | €41,039 | €32,879 | -€8,159 | -19.9% |
| Amounts payable within one year | 42/48 | €40,529 | €32,879 | -€7,650 | -18.9% |
| Trade debts | 44 | €29,033 | €15,604 | -€13,428 | -46.3% |
| Suppliers | 440/4 | €29,033 | €15,604 | -€13,428 | -46.3% |
| Taxes, remuneration and social security | 45 | €7,339 | €9,792 | +€2,453 | +33.4% |
| Taxes | 450/3 | €3,810 | €3,489 | -€321 | -8.4% |
| Remuneration and social security | 454/9 | €3,528 | €6,303 | +€2,774 | +78.6% |
| Other amounts payable | 47/48 | €4,158 | €7,483 | +€3,325 | +80.0% |
| Accrued charges and deferred income | 492/3 | €509 | - | -€509 | |
| Goods, raw materials, services and sundry goods | 60/61 | €143,661 | - | -€143,661 | |
| Remuneration, social security and pensions | 62 | €45,655 | €44,306 | -€1,349 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,000 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €370 | +€252 | +213.6% |
| Gross operating margin | 9900 | €47,881 | €56,363 | +€8,482 | +17.7% |
| Operating profit (loss) | 9901 | €1,108 | €10,687 | +€9,579 | +864.5% |
| Financial charges | 65/66B | €271 | €1,685 | +€1,414 | +522.1% |
| Recurring financial charges | 65 | €271 | €1,685 | +€1,414 | +522.1% |
| Profit (loss) for the period before taxes | 9903 | €837 | €9,002 | +€8,165 | +975.3% |
| Profit (loss) for the period | 9904 | €837 | €9,002 | +€8,165 | +975.3% |
| Profit (loss) for the period to be appropriated | 9905 | €837 | €9,002 | +€8,165 | +975.3% |
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 28 September 2026 via checked.be.