Mutua Fides: 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.
Mutua Fides
Largest movements
- Cash +€150,504
up €150,504 (+121%), from €124,439 to €274,944
mainly Net result for the year (+€184,619) and Depreciation (+€81,292)
- Receivables within one year -€63,626
down €63,626 (-22.3%), from €285,948 to €222,322
of which Trade receivables: -€50,219
- Tangible fixed assets -€42,197
down €42,197 (-5.9%), from €712,851 to €670,654
of which Furniture and vehicles: -€23,662
- Reserves +€184,619
up €184,619 (+17.1%), from €1.1m to €1.3m
of which Distributable reserves: +€184,619
- Debts after one year -€64,699
down €64,699 (-42.7%), from €151,632 to €86,933
- Current portion of long-term debt -€33,796
down €33,796 (-33.6%), from €100,703 to €66,907
- Tax, wage and social debts -€28,370
down €28,370 (-15.9%), from €178,746 to €150,375
- Gross operating margin -€207,118
down €207,118 (-40.0%), from €517,773 to €310,655
- Taxes -€67,402
down €67,402 (-51.2%), from €131,755 to €64,353
- Financial income +€33,339
up €33,339 (+112%), from €29,655 to €62,994
of which Financial income: +€33,339
- Financial charges +€6,484
up €6,484 (+30.9%), from €20,981 to €27,465
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 | €1,556,593 | €1,609,131 | +€52,537 | +3.4% |
| Fixed assets | 21/28 | €712,851 | €670,654 | -€42,197 | -5.9% |
| Tangible fixed assets | 22/27 | €712,851 | €670,654 | -€42,197 | -5.9% |
| Land and buildings | 22 | €622,936 | €602,238 | -€20,699 | -3.3% |
| Plant, machinery and equipment | 23 | €403 | €2,567 | +€2,163 | +536% |
| Furniture and vehicles | 24 | €89,512 | €65,850 | -€23,662 | -26.4% |
| Current assets | 29/58 | €843,742 | €938,477 | +€94,735 | +11.2% |
| Amounts receivable within one year | 40/41 | €285,948 | €222,322 | -€63,626 | -22.3% |
| Trade receivables | 40 | €93,668 | €43,449 | -€50,219 | -53.6% |
| Other amounts receivable | 41 | €192,279 | €178,873 | -€13,407 | -7.0% |
| Current investments | 50/53 | €423,621 | €435,939 | +€12,318 | +2.9% |
| Cash at bank and in hand | 54/58 | €124,439 | €274,944 | +€150,504 | +121% |
| Deferred charges and accrued income | 490/1 | €9,734 | €5,272 | -€4,462 | -45.8% |
| Total equity and liabilities | 10/49 | €1,556,593 | €1,609,131 | +€52,537 | +3.4% |
| Equity | 10/15 | €1,111,676 | €1,296,295 | +€184,619 | +16.6% |
| Reserves | 13 | €1,078,253 | €1,262,873 | +€184,619 | +17.1% |
| Tax-exempt reserves | 132 | €222 | €222 | = | 0.0% |
| Distributable reserves | 133 | €1,078,032 | €1,262,651 | +€184,619 | +17.1% |
| Profit (loss) carried forward | 14 | €33,423 | €33,423 | = | 0.0% |
| Amounts payable | 17/49 | €444,917 | €312,835 | -€132,082 | -29.7% |
| Amounts payable after more than one year | 17 | €151,632 | €86,933 | -€64,699 | -42.7% |
| Financial debts | 170/4 | €151,632 | €86,933 | -€64,699 | -42.7% |
| Amounts payable within one year | 42/48 | €293,286 | €225,902 | -€67,383 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €100,703 | €66,907 | -€33,796 | -33.6% |
| Trade debts | 44 | €13,837 | €8,620 | -€5,217 | -37.7% |
| Suppliers | 440/4 | €13,837 | €8,620 | -€5,217 | -37.7% |
| Taxes, remuneration and social security | 45 | €178,746 | €150,375 | -€28,370 | -15.9% |
| Taxes | 450/3 | €178,746 | €150,375 | -€28,370 | -15.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,394 | €81,292 | +€2,899 | +3.7% |
| Other operating charges | 640/8 | €18,040 | €15,919 | -€2,121 | -11.8% |
| Gross operating margin | 9900 | €517,773 | €310,655 | -€207,118 | -40.0% |
| Operating profit (loss) | 9901 | €421,340 | €213,444 | -€207,896 | -49.3% |
| Financial income | 75/76B | €29,655 | €62,994 | +€33,339 | +112% |
| Recurring financial income | 75 | €29,655 | €62,994 | +€33,339 | +112% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €20,981 | €27,465 | +€6,484 | +30.9% |
| Recurring financial charges | 65 | €20,981 | €27,465 | +€6,484 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €430,013 | €248,973 | -€181,040 | -42.1% |
| Income taxes | 67/77 | €131,755 | €64,353 | -€67,402 | -51.2% |
| Profit (loss) for the period | 9904 | €298,258 | €184,619 | -€113,639 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €298,258 | €184,619 | -€113,639 | -38.1% |
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 25 October 2026 via checked.be.