Mutant: 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.
Mutant
Largest movements
- Receivables within one year +€326,744
up €326,744 (+29.1%), from €1.1m to €1.4m
of which Trade receivables: +€313,742
- Cash -€177,202
down €177,202 (-36.3%), from €487,845 to €310,644
mainly Receivables within one year (-€326,744) and Net result for the year (-€190,497)
- Deferred charges and accrued income +€50,537
up €50,537 (+123.0%), from €41,087 to €91,624
- Tangible fixed assets +€37,054
up €37,054 (+60.1%), from €61,622 to €98,675
of which Other tangible fixed assets: +€27,384
- Financial fixed assets +€34,951
up €34,951 (+70.4%), from €49,640 to €84,591
- Short-term financial debts +€545,426
up €545,426 (+4922.8%), from €11,080 to €556,505
of which Credit institutions: +€550,000
- Profit (loss) carried forward -€190,497
down €190,497 (-28.0%), from €680,002 to €489,505
- Trade debts -€94,880
down €94,880 (-13.8%), from €685,140 to €590,260
- Accrued charges and deferred income -€80,482
down €80,482 (-29.8%), from €270,240 to €189,758
- Tax, wage and social debts +€74,325
up €74,325 (+56.5%), from €131,450 to €205,775
of which Taxes: +€75,787
- Gross operating margin -€419,407
down €419,407 (-20.6%), from €2.0m to €1.6m
- Staff costs +€166,023
up €166,023 (+12.0%), from €1.4m to €1.6m
- Taxes -€132,560
down €132,560 (-98.3%), from €134,802 to €2,242
- Financial charges +€42,959
up €42,959 (+1229.2%), from €3,495 to €46,454
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 | €1,798,172 | €2,051,803 | +€253,631 | +14.1% |
| Fixed assets | 21/28 | €148,167 | €201,719 | +€53,551 | +36.1% |
| Intangible fixed assets | 21 | €36,906 | €18,453 | -€18,453 | -50.0% |
| Tangible fixed assets | 22/27 | €61,622 | €98,675 | +€37,054 | +60.1% |
| Furniture and vehicles | 24 | €58,734 | €68,403 | +€9,669 | +16.5% |
| Other tangible fixed assets | 26 | €2,888 | €30,272 | +€27,384 | +948.3% |
| Financial fixed assets | 28 | €49,640 | €84,591 | +€34,951 | +70.4% |
| Current assets | 29/58 | €1,650,005 | €1,850,084 | +€200,079 | +12.1% |
| Amounts receivable within one year | 40/41 | €1,121,073 | €1,447,817 | +€326,744 | +29.1% |
| Trade receivables | 40 | €986,454 | €1,300,196 | +€313,742 | +31.8% |
| Other amounts receivable | 41 | €134,619 | €147,621 | +€13,002 | +9.7% |
| Cash at bank and in hand | 54/58 | €487,845 | €310,644 | -€177,202 | -36.3% |
| Deferred charges and accrued income | 490/1 | €41,087 | €91,624 | +€50,537 | +123.0% |
| Total equity and liabilities | 10/49 | €1,798,172 | €2,051,803 | +€253,631 | +14.1% |
| Equity | 10/15 | €700,002 | €509,505 | -€190,497 | -27.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €680,002 | €489,505 | -€190,497 | -28.0% |
| Amounts payable | 17/49 | €1,098,171 | €1,542,298 | +€444,127 | +40.4% |
| Amounts payable within one year | 42/48 | €827,931 | €1,352,540 | +€524,609 | +63.4% |
| Financial debts | 43 | €11,080 | €556,505 | +€545,426 | +4922.8% |
| Credit institutions | 430/8 | - | €550,000 | +€550,000 | |
| Other loans | 439 | €11,080 | €6,505 | -€4,574 | -41.3% |
| Trade debts | 44 | €685,140 | €590,260 | -€94,880 | -13.8% |
| Suppliers | 440/4 | €685,140 | €590,260 | -€94,880 | -13.8% |
| Taxes, remuneration and social security | 45 | €131,450 | €205,775 | +€74,325 | +56.5% |
| Taxes | 450/3 | €0 | €75,787 | +€75,787 | |
| Remuneration and social security | 454/9 | €131,450 | €129,988 | -€1,463 | -1.1% |
| Other amounts payable | 47/48 | €261 | €0 | -€261 | -100.0% |
| Accrued charges and deferred income | 492/3 | €270,240 | €189,758 | -€80,482 | -29.8% |
| Remuneration, social security and pensions | 62 | €1,385,715 | €1,551,738 | +€166,023 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,950 | €66,655 | +€8,705 | +15.0% |
| Other operating charges | 640/8 | €154,543 | €147,014 | -€7,529 | -4.9% |
| Non-recurring operating charges | 66A | €3,268 | €574 | -€2,694 | -82.4% |
| Gross operating margin | 9900 | €2,035,223 | €1,615,816 | -€419,407 | -20.6% |
| Operating profit (loss) | 9901 | €433,748 | -€150,164 | -€583,911 | |
| Financial income | 75/76B | €0 | €8,363 | +€8,363 | |
| Recurring financial income | 75 | €0 | €8,363 | +€8,363 | |
| Financial charges | 65/66B | €3,495 | €46,454 | +€42,959 | +1229.2% |
| Recurring financial charges | 65 | €3,495 | €46,454 | +€42,959 | +1229.2% |
| Profit (loss) for the period before taxes | 9903 | €430,253 | -€188,255 | -€618,507 | |
| Income taxes | 67/77 | €134,802 | €2,242 | -€132,560 | -98.3% |
| Profit (loss) for the period | 9904 | €295,451 | -€190,497 | -€485,948 | |
| Profit (loss) for the period to be appropriated | 9905 | €295,451 | -€190,497 | -€485,948 |
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 1 October 2026 via checked.be.