MUVIN: 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.
MUVIN
Largest movements
- Receivables within one year +€134,710
up €134,710 (+665.8%), from €20,232 to €154,942
of which Trade receivables: +€130,133
- Stocks and contracts +€43,443
up €43,443 (+118.1%), from €36,773 to €80,216
- Tangible fixed assets -€36,918
down €36,918 (-91.8%), from €40,224 to €3,306
- Cash +€5,286
up €5,286 (+41.3%), from €12,812 to €18,098
mainly Trade debts (+€154,707) and Investment in fixed assets (net) (+€36,918)
- Trade debts +€154,707
up €154,707 (+594.1%), from €26,040 to €180,747
- Other debts -€5,826
down €5,826 (-16.0%), from €36,411 to €30,585
- Gross operating margin +€41,718
up €41,718 (+164.5%), from €25,367 to €67,085
- Staff costs +€41,575
up €41,575 (+1823.9%), from €2,279 to €43,854
- Depreciation -€11,805
no longer reported in 2025 (was €11,805)
- Taxes -€812
down €812 (-30.5%), from €2,660 to €1,848
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 | €110,041 | €256,562 | +€146,521 | +133.2% |
| Fixed assets | 21/28 | €40,224 | €3,306 | -€36,918 | -91.8% |
| Tangible fixed assets | 22/27 | €40,224 | €3,306 | -€36,918 | -91.8% |
| Furniture and vehicles | 24 | €40,224 | €3,306 | -€36,918 | -91.8% |
| Current assets | 29/58 | €69,817 | €253,256 | +€183,439 | +262.7% |
| Stocks and contracts in progress | 3 | €36,773 | €80,216 | +€43,443 | +118.1% |
| Stocks | 30/36 | €36,773 | €80,216 | +€43,443 | +118.1% |
| Amounts receivable within one year | 40/41 | €20,232 | €154,942 | +€134,710 | +665.8% |
| Trade receivables | 40 | €20,232 | €150,365 | +€130,133 | +643.2% |
| Other amounts receivable | 41 | - | €4,577 | +€4,577 | |
| Cash at bank and in hand | 54/58 | €12,812 | €18,098 | +€5,286 | +41.3% |
| Total equity and liabilities | 10/49 | €110,041 | €256,562 | +€146,521 | +133.2% |
| Equity | 10/15 | €19,055 | €19,402 | +€348 | +1.8% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,055 | €1,402 | +€348 | +33.0% |
| Amounts payable | 17/49 | €90,986 | €237,160 | +€146,174 | +160.7% |
| Amounts payable after more than one year | 17 | €4,677 | €3,574 | -€1,103 | -23.6% |
| Financial debts | 170/4 | €4,677 | €3,574 | -€1,103 | -23.6% |
| Amounts payable within one year | 42/48 | €86,309 | €233,586 | +€147,277 | +170.6% |
| Current portion of amounts payable after more than one year | 42 | €2,973 | €1,927 | -€1,046 | -35.2% |
| Trade debts | 44 | €26,040 | €180,747 | +€154,707 | +594.1% |
| Suppliers | 440/4 | €26,040 | €180,747 | +€154,707 | +594.1% |
| Taxes, remuneration and social security | 45 | €20,885 | €20,327 | -€558 | -2.7% |
| Taxes | 450/3 | €8,741 | €8,647 | -€95 | -1.1% |
| Remuneration and social security | 454/9 | €12,144 | €11,680 | -€464 | -3.8% |
| Other amounts payable | 47/48 | €36,411 | €30,585 | -€5,826 | -16.0% |
| Non-recurring operating income | 76A | - | €16,743 | +€16,743 | |
| Remuneration, social security and pensions | 62 | €2,279 | €43,854 | +€41,575 | +1823.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,805 | - | -€11,805 | |
| Other operating charges | 640/8 | €414 | €213 | -€201 | -48.6% |
| Non-recurring operating charges | 66A | - | €20,400 | +€20,400 | |
| Gross operating margin | 9900 | €25,367 | €67,085 | +€41,718 | +164.5% |
| Operating profit (loss) | 9901 | €10,869 | €2,619 | -€8,250 | -75.9% |
| Financial income | 75/76B | €40 | €165 | +€125 | +316.0% |
| Recurring financial income | 75 | €40 | €165 | +€125 | +316.0% |
| Financial charges | 65/66B | €151 | €587 | +€436 | +287.8% |
| Recurring financial charges | 65 | €151 | €587 | +€436 | +287.8% |
| Profit (loss) for the period before taxes | 9903 | €10,757 | €2,196 | -€8,561 | -79.6% |
| Income taxes | 67/77 | €2,660 | €1,848 | -€812 | -30.5% |
| Profit (loss) for the period | 9904 | €8,097 | €348 | -€7,749 | -95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,097 | €348 | -€7,749 | -95.7% |
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 11 October 2026 via checked.be.