MUURVELD: 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.
MUURVELD
Largest movements
- Cash -€17,417
down €17,417 (-29.9%), from €58,185 to €40,767
mainly Investment in fixed assets (net) (-€30,998) and Other debts (-€18,522)
- Tangible fixed assets +€8,340
up €8,340 (+3.3%), from €252,578 to €260,918
of which Land and buildings: +€8,815
- Other debts -€18,522
down €18,522 (-23.5%), from €78,683 to €60,161
- Reserves +€7,930
up €7,930 (+4.7%), from €169,850 to €177,780
of which Distributable reserves: +€7,930
- Gross operating margin +€3,591
up €3,591 (+10.5%), from €34,323 to €37,914
- Taxes +€920
up €920 (+33.0%), from €2,784 to €3,704
- Depreciation +€626
up €626 (+2.8%), from €22,032 to €22,658
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 | €312,928 | €301,775 | -€11,153 | -3.6% |
| Fixed assets | 21/28 | €252,578 | €260,918 | +€8,340 | +3.3% |
| Tangible fixed assets | 22/27 | €252,578 | €260,918 | +€8,340 | +3.3% |
| Land and buildings | 22 | €251,250 | €260,065 | +€8,815 | +3.5% |
| Plant, machinery and equipment | 23 | €1,328 | €853 | -€475 | -35.7% |
| Current assets | 29/58 | €60,350 | €40,856 | -€19,494 | -32.3% |
| Amounts receivable within one year | 40/41 | €2,166 | €89 | -€2,077 | -95.9% |
| Other amounts receivable | 41 | €2,166 | €89 | -€2,077 | -95.9% |
| Cash at bank and in hand | 54/58 | €58,185 | €40,767 | -€17,417 | -29.9% |
| Total equity and liabilities | 10/49 | €312,928 | €301,775 | -€11,153 | -3.6% |
| Equity | 10/15 | €232,449 | €240,389 | +€7,940 | +3.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €169,850 | €177,780 | +€7,930 | +4.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €163,700 | €171,630 | +€7,930 | +4.8% |
| Profit (loss) carried forward | 14 | €1,099 | €1,109 | +€10 | +0.9% |
| Amounts payable | 17/49 | €80,479 | €61,385 | -€19,094 | -23.7% |
| Amounts payable within one year | 42/48 | €80,479 | €61,143 | -€19,336 | -24.0% |
| Trade debts | 44 | €1,196 | €189 | -€1,007 | -84.2% |
| Suppliers | 440/4 | €1,196 | €189 | -€1,007 | -84.2% |
| Taxes, remuneration and social security | 45 | €600 | €793 | +€193 | +32.2% |
| Taxes | 450/3 | €600 | €793 | +€193 | +32.2% |
| Other amounts payable | 47/48 | €78,683 | €60,161 | -€18,522 | -23.5% |
| Accrued charges and deferred income | 492/3 | - | €243 | +€243 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,032 | €22,658 | +€626 | +2.8% |
| Other operating charges | 640/8 | €3,444 | €3,552 | +€108 | +3.1% |
| Gross operating margin | 9900 | €34,323 | €37,914 | +€3,591 | +10.5% |
| Operating profit (loss) | 9901 | €8,847 | €11,704 | +€2,857 | +32.3% |
| Financial charges | 65/66B | €60 | €60 | = | 0.0% |
| Recurring financial charges | 65 | €60 | €60 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €8,787 | €11,644 | +€2,857 | +32.5% |
| Income taxes | 67/77 | €2,784 | €3,704 | +€920 | +33.0% |
| Profit (loss) for the period | 9904 | €6,003 | €7,940 | +€1,938 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,003 | €7,940 | +€1,938 | +32.3% |
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 15 October 2026 via checked.be.