MUTA: 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.
MUTA
Largest movements
- Receivables within one year +€72,049
up €72,049 (+36.1%), from €199,665 to €271,714
of which Trade receivables: +€66,575
- Tangible fixed assets -€7,077
down €7,077 (-25.1%), from €28,183 to €21,106
- Trade debts +€29,676
up €29,676 (+74.9%), from €39,645 to €69,321
- Other debts +€22,032
up €22,032 (+58.7%), from €37,547 to €59,579
- Profit (loss) carried forward +€7,545
up €7,545 (+20.9%), from -€36,037 to -€28,492
- Tax, wage and social debts +€5,721
up €5,721 (+19.0%), from €30,187 to €35,909
of which Taxes: +€5,721
- Gross operating margin -€49,499
down €49,499 (-77.0%), from €64,318 to €14,819
- Staff costs -€43,530
no longer reported in 2024 (was €43,530)
- Taxes -€36,920
no longer reported in 2024 (was €36,920)
- Financial charges -€9,510
down €9,510 (-99.8%), from €9,530 to €20
- Other operating charges -€3,158
down €3,158 (-94.6%), from €3,339 to €180
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €234,132 | €299,107 | +€64,975 | +27.8% |
| Fixed assets | 21/28 | €28,183 | €21,106 | -€7,077 | -25.1% |
| Tangible fixed assets | 22/27 | €28,183 | €21,106 | -€7,077 | -25.1% |
| Furniture and vehicles | 24 | €28,183 | €21,106 | -€7,077 | -25.1% |
| Current assets | 29/58 | €205,949 | €278,001 | +€72,052 | +35.0% |
| Stocks and contracts in progress | 3 | €5,325 | €5,325 | = | 0.0% |
| Stocks | 30/36 | €5,325 | €5,325 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €199,665 | €271,714 | +€72,049 | +36.1% |
| Trade receivables | 40 | €198,397 | €264,972 | +€66,575 | +33.6% |
| Other amounts receivable | 41 | €1,268 | €6,741 | +€5,474 | +431.8% |
| Cash at bank and in hand | 54/58 | €959 | €962 | +€3 | +0.3% |
| Total equity and liabilities | 10/49 | €234,132 | €299,107 | +€64,975 | +27.8% |
| Equity | 10/15 | -€2,825 | €4,721 | +€7,545 | |
| Contributions | 10/11 | €20,000 | €22,000 | +€2,000 | +10.0% |
| Reserves | 13 | €13,213 | €11,213 | -€2,000 | -15.1% |
| Distributable reserves | 133 | €13,213 | €11,213 | -€2,000 | -15.1% |
| Profit (loss) carried forward | 14 | -€36,037 | -€28,492 | +€7,545 | +20.9% |
| Amounts payable | 17/49 | €236,957 | €294,387 | +€57,430 | +24.2% |
| Amounts payable after more than one year | 17 | €111,265 | €111,265 | = | 0.0% |
| Financial debts | 170/4 | €111,265 | €111,265 | = | 0.0% |
| Amounts payable within one year | 42/48 | €119,177 | €176,606 | +€57,430 | +48.2% |
| Current portion of amounts payable after more than one year | 42 | €2,814 | €2,814 | = | 0.0% |
| Trade debts | 44 | €39,645 | €69,321 | +€29,676 | +74.9% |
| Suppliers | 440/4 | €39,645 | €69,321 | +€29,676 | +74.9% |
| Advances received on contracts in progress | 46 | €8,983 | €8,983 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €30,187 | €35,909 | +€5,721 | +19.0% |
| Taxes | 450/3 | €1,471 | €7,192 | +€5,721 | +389.0% |
| Remuneration and social security | 454/9 | €28,716 | €28,716 | = | 0.0% |
| Other amounts payable | 47/48 | €37,547 | €59,579 | +€22,032 | +58.7% |
| Accrued charges and deferred income | 492/3 | €6,515 | €6,515 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €43,530 | - | -€43,530 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,074 | €7,074 | = | 0.0% |
| Other operating charges | 640/8 | €3,339 | €180 | -€3,158 | -94.6% |
| Gross operating margin | 9900 | €64,318 | €14,819 | -€49,499 | -77.0% |
| Operating profit (loss) | 9901 | €10,376 | €7,565 | -€2,811 | -27.1% |
| Financial income | 75/76B | €37 | - | -€37 | |
| Recurring financial income | 75 | €37 | - | -€37 | |
| Financial charges | 65/66B | €9,530 | €20 | -€9,510 | -99.8% |
| Recurring financial charges | 65 | €9,530 | €20 | -€9,510 | -99.8% |
| Profit (loss) for the period before taxes | 9903 | €883 | €7,545 | +€6,662 | +754.5% |
| Income taxes | 67/77 | €36,920 | - | -€36,920 | |
| Profit (loss) for the period | 9904 | -€36,037 | €7,545 | +€43,583 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,037 | €7,545 | +€43,583 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.