PABLO MUÑIZ: 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.
PABLO MUÑIZ
Largest movements
- Current investments +€288,755
up €288,755 (+962.5%), from €30,000 to €318,755
- Receivables within one year +€167,375
up €167,375 (+98.5%), from €170,000 to €337,375
of which Trade receivables: +€165,000
- Cash -€18,415
down €18,415 (-3.5%), from €529,821 to €511,406
mainly Current investments (-€288,755) and Receivables within one year (-€167,375)
- Profit (loss) carried forward +€304,481
up €304,481 (+223.5%), from €136,247 to €440,728
- Reserves +€150,000
up €150,000 (+28.6%), from €525,000 to €675,000
- Tax, wage and social debts -€13,251
down €13,251 (-24.9%), from €53,171 to €39,920
of which Taxes: -€12,668
- Gross operating margin +€164,568
up €164,568 (+36.4%), from €451,677 to €616,245
- Taxes +€28,229
up €28,229 (+21.0%), from €134,313 to €162,542
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 | €733,753 | €1,170,979 | +€437,226 | +59.6% |
| Fixed assets | 21/28 | €2,415 | €1,853 | -€562 | -23.3% |
| Tangible fixed assets | 22/27 | €2,415 | €1,853 | -€562 | -23.3% |
| Furniture and vehicles | 24 | €2,415 | €1,853 | -€562 | -23.3% |
| Current assets | 29/58 | €731,338 | €1,169,126 | +€437,788 | +59.9% |
| Amounts receivable within one year | 40/41 | €170,000 | €337,375 | +€167,375 | +98.5% |
| Trade receivables | 40 | €170,000 | €335,000 | +€165,000 | +97.1% |
| Other amounts receivable | 41 | - | €2,375 | +€2,375 | |
| Current investments | 50/53 | €30,000 | €318,755 | +€288,755 | +962.5% |
| Cash at bank and in hand | 54/58 | €529,821 | €511,406 | -€18,415 | -3.5% |
| Deferred charges and accrued income | 490/1 | €1,517 | €1,589 | +€72 | +4.7% |
| Total equity and liabilities | 10/49 | €733,753 | €1,170,979 | +€437,226 | +59.6% |
| Equity | 10/15 | €675,507 | €1,129,988 | +€454,481 | +67.3% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Contributions outside capital | 11 | €14,260 | €14,260 | = | 0.0% |
| Other | 1109/19 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €525,000 | €675,000 | +€150,000 | +28.6% |
| Distributable reserves | 133 | €525,000 | €675,000 | +€150,000 | +28.6% |
| Profit (loss) carried forward | 14 | €136,247 | €440,728 | +€304,481 | +223.5% |
| Amounts payable | 17/49 | €58,246 | €40,991 | -€17,255 | -29.6% |
| Amounts payable within one year | 42/48 | €58,246 | €40,991 | -€17,255 | -29.6% |
| Trade debts | 44 | €954 | €1,071 | +€117 | +12.3% |
| Suppliers | 440/4 | €954 | €1,071 | +€117 | +12.3% |
| Taxes, remuneration and social security | 45 | €53,171 | €39,920 | -€13,251 | -24.9% |
| Taxes | 450/3 | €45,186 | €32,518 | -€12,668 | -28.0% |
| Remuneration and social security | 454/9 | €7,985 | €7,402 | -€583 | -7.3% |
| Other amounts payable | 47/48 | €4,121 | - | -€4,121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €395 | €562 | +€167 | +42.3% |
| Other operating charges | 640/8 | €384 | €533 | +€149 | +38.6% |
| Gross operating margin | 9900 | €451,677 | €616,245 | +€164,568 | +36.4% |
| Operating profit (loss) | 9901 | €450,897 | €615,150 | +€164,253 | +36.4% |
| Financial income | 75/76B | €1,346 | €2,610 | +€1,263 | +93.8% |
| Recurring financial income | 75 | €1,346 | €2,610 | +€1,263 | +93.8% |
| Financial charges | 65/66B | €1,077 | €737 | -€339 | -31.5% |
| Recurring financial charges | 65 | €1,077 | €737 | -€339 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €451,167 | €617,022 | +€165,855 | +36.8% |
| Income taxes | 67/77 | €134,313 | €162,542 | +€28,229 | +21.0% |
| Profit (loss) for the period | 9904 | €316,854 | €454,481 | +€137,627 | +43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €316,854 | €454,481 | +€137,627 | +43.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.