Mutatio Consulting: 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.
Mutatio Consulting
Largest movements
- Receivables within one year +€34,633
up €34,633 (+1,330%), from €2,604 to €37,237
of which Trade receivables: +€37,237
- Receivables after one year +€19,100
up €19,100 (+27.1%), from €70,458 to €89,558
- Tangible fixed assets -€8,488
down €8,488 (-21.9%), from €38,779 to €30,292
- Cash +€7,976
up €7,976 (+32.8%), from €24,328 to €32,305
mainly Net result for the year (+€28,189) and Tax, wage and social debts (+€15,245)
- Reserves +€28,189
up €28,189 (+39.7%), from €70,939 to €99,128
- Tax, wage and social debts +€15,245
up €15,245 (+49.5%), from €30,787 to €46,032
of which Taxes: +€13,745
- Current portion of long-term debt +€13,118
up €13,118 (+122%), from €10,724 to €23,843
- Debts after one year -€11,907
down €11,907 (-51.9%), from €22,963 to €11,056
- Other debts +€6,786
new in 2025: €6,786
- Gross operating margin -€38,715
down €38,715 (-36.7%), from €105,559 to €66,844
- Financial income -€4,488
no longer reported in 2025 (was €4,488)
- Taxes +€1,768
up €1,768 (+7.4%), from €23,841 to €25,609
- Depreciation -€1,432
down €1,432 (-11.8%), from €12,098 to €10,666
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.
Derived cash bridge
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 | €137,093 | €189,995 | +€52,902 | +38.6% |
| Formation expenses | 20 | €923 | €603 | -€320 | -34.7% |
| Fixed assets | 21/28 | €38,779 | €30,292 | -€8,488 | -21.9% |
| Tangible fixed assets | 22/27 | €38,779 | €30,292 | -€8,488 | -21.9% |
| Furniture and vehicles | 24 | €38,779 | €30,292 | -€8,488 | -21.9% |
| Current assets | 29/58 | €97,390 | €159,100 | +€61,710 | +63.4% |
| Amounts receivable after more than one year | 29 | €70,458 | €89,558 | +€19,100 | +27.1% |
| Other amounts receivable | 291 | €70,458 | €89,558 | +€19,100 | +27.1% |
| Amounts receivable within one year | 40/41 | €2,604 | €37,237 | +€34,633 | +1,330% |
| Trade receivables | 40 | - | €37,237 | +€37,237 | |
| Other amounts receivable | 41 | €2,604 | - | -€2,604 | |
| Cash at bank and in hand | 54/58 | €24,328 | €32,305 | +€7,976 | +32.8% |
| Total equity and liabilities | 10/49 | €137,093 | €189,995 | +€52,902 | +38.6% |
| Equity | 10/15 | €70,939 | €99,128 | +€28,189 | +39.7% |
| Reserves | 13 | €70,939 | €99,128 | +€28,189 | +39.7% |
| Distributable reserves | 133 | €70,939 | €99,128 | +€28,189 | +39.7% |
| Amounts payable | 17/49 | €66,154 | €90,866 | +€24,712 | +37.4% |
| Amounts payable after more than one year | 17 | €22,963 | €11,056 | -€11,907 | -51.9% |
| Financial debts | 170/4 | €22,963 | €11,056 | -€11,907 | -51.9% |
| Amounts payable within one year | 42/48 | €43,191 | €79,810 | +€36,619 | +84.8% |
| Current portion of amounts payable after more than one year | 42 | €10,724 | €23,843 | +€13,118 | +122% |
| Trade debts | 44 | €1,680 | €3,149 | +€1,470 | +87.5% |
| Suppliers | 440/4 | €1,680 | €3,149 | +€1,470 | +87.5% |
| Taxes, remuneration and social security | 45 | €30,787 | €46,032 | +€15,245 | +49.5% |
| Taxes | 450/3 | €30,787 | €44,532 | +€13,745 | +44.6% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | - | €6,786 | +€6,786 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,098 | €10,666 | -€1,432 | -11.8% |
| Other operating charges | 640/8 | €387 | €506 | +€119 | +30.7% |
| Gross operating margin | 9900 | €105,559 | €66,844 | -€38,715 | -36.7% |
| Operating profit (loss) | 9901 | €93,075 | €55,672 | -€37,403 | -40.2% |
| Financial income | 75/76B | €4,488 | - | -€4,488 | |
| Recurring financial income | 75 | €4,488 | - | -€4,488 | |
| Financial charges | 65/66B | €2,783 | €1,874 | -€909 | -32.7% |
| Recurring financial charges | 65 | €2,783 | €1,874 | -€909 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €94,780 | €53,798 | -€40,982 | -43.2% |
| Income taxes | 67/77 | €23,841 | €25,609 | +€1,768 | +7.4% |
| Profit (loss) for the period | 9904 | €70,939 | €28,189 | -€42,749 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €70,939 | €28,189 | -€42,749 | -60.3% |
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 18 October 2026 via checked.be.