MUTRANDIS: 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.
MUTRANDIS
Largest movements
- Cash +€24,088
up €24,088 (+23.2%), from €103,839 to €127,927
mainly Other debts (+€42,448) and Net result for the year (+€23,713)
- Tangible fixed assets -€8,503
no longer reported in 2025 (was €8,503)
- Receivables within one year +€4,790
up €4,790 (+14.4%), from €33,325 to €38,115
of which Trade receivables: +€5,203
- Other debts +€42,448
up €42,448 (+3437.4%), from €1,235 to €43,683
- Reserves -€19,640
down €19,640 (-16.5%), from €118,903 to €99,263
- Tax, wage and social debts -€2,156
down €2,156 (-37.8%), from €5,698 to €3,541
- Gross operating margin -€11,199
down €11,199 (-20.1%), from €55,856 to €44,657
- Depreciation -€3,942
down €3,942 (-31.7%), from €12,445 to €8,503
- Taxes -€2,315
down €2,315 (-17.2%), from €13,457 to €11,142
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 | €145,870 | €166,080 | +€20,210 | +13.9% |
| Fixed assets | 21/28 | €8,541 | €38 | -€8,503 | -99.6% |
| Tangible fixed assets | 22/27 | €8,503 | - | -€8,503 | |
| Leasing and similar rights | 25 | €8,503 | - | -€8,503 | |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €137,329 | €166,042 | +€28,713 | +20.9% |
| Amounts receivable within one year | 40/41 | €33,325 | €38,115 | +€4,790 | +14.4% |
| Trade receivables | 40 | €32,912 | €38,115 | +€5,203 | +15.8% |
| Other amounts receivable | 41 | €413 | - | -€413 | |
| Cash at bank and in hand | 54/58 | €103,839 | €127,927 | +€24,088 | +23.2% |
| Deferred charges and accrued income | 490/1 | €165 | - | -€165 | |
| Total equity and liabilities | 10/49 | €145,870 | €166,080 | +€20,210 | +13.9% |
| Equity | 10/15 | €133,299 | €113,659 | -€19,640 | -14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €118,903 | €99,263 | -€19,640 | -16.5% |
| Distributable reserves | 133 | €118,903 | €99,263 | -€19,640 | -16.5% |
| Profit (loss) carried forward | 14 | €1,996 | €1,996 | = | 0.0% |
| Amounts payable | 17/49 | €12,570 | €52,421 | +€39,851 | +317.0% |
| Amounts payable within one year | 42/48 | €12,570 | €52,421 | +€39,851 | +317.0% |
| Trade debts | 44 | €5,638 | €5,197 | -€441 | -7.8% |
| Suppliers | 440/4 | €5,638 | €5,197 | -€441 | -7.8% |
| Taxes, remuneration and social security | 45 | €5,698 | €3,541 | -€2,156 | -37.8% |
| Taxes | 450/3 | €5,698 | €3,541 | -€2,156 | -37.8% |
| Other amounts payable | 47/48 | €1,235 | €43,683 | +€42,448 | +3437.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,445 | €8,503 | -€3,942 | -31.7% |
| Other operating charges | 640/8 | €1,786 | €1,302 | -€484 | -27.1% |
| Gross operating margin | 9900 | €55,856 | €44,657 | -€11,199 | -20.1% |
| Operating profit (loss) | 9901 | €41,625 | €34,852 | -€6,773 | -16.3% |
| Financial income | 75/76B | €187 | €119 | -€68 | -36.2% |
| Recurring financial income | 75 | €187 | €119 | -€68 | -36.2% |
| Financial charges | 65/66B | €120 | €115 | -€5 | -4.1% |
| Recurring financial charges | 65 | €120 | €115 | -€5 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €41,692 | €34,856 | -€6,836 | -16.4% |
| Income taxes | 67/77 | €13,457 | €11,142 | -€2,315 | -17.2% |
| Profit (loss) for the period | 9904 | €28,235 | €23,713 | -€4,521 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,235 | €23,713 | -€4,521 | -16.0% |
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 30 September 2026 via checked.be.