W. MUYS: 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.
W. MUYS
Largest movements
- Financial fixed assets +€12,588
up €12,588 (+10.2%), from €123,980 to €136,568
- Cash -€10,760
down €10,760 (-32.7%), from €32,927 to €22,167
mainly Contributions, distributions and other (-€48,571) and Investment in fixed assets (net) (-€34,211)
- Tangible fixed assets -€9,018
down €9,018 (-3.4%), from €265,042 to €256,024
of which Plant, machinery and equipment: -€6,318
- Receivables within one year +€7,888
up €7,888 (+17.9%), from €44,095 to €51,983
- Profit (loss) carried forward -€31,210
down €31,210 (-11.3%), from €275,437 to €244,226
- Other debts +€24,632
up €24,632 (+625%), from €3,939 to €28,571
- Reserves +€22,222
up €22,222 (+107%), from €20,750 to €42,972
of which Distributable reserves: +€22,222
- Debts after one year -€18,677
down €18,677 (-20.1%), from €92,936 to €74,259
- Staff costs -€26,885
down €26,885 (-29.7%), from €90,475 to €63,590
- Gross operating margin -€16,647
down €16,647 (-10.2%), from €162,719 to €146,072
- Financial income -€6,665
down €6,665 (-63.5%), from €10,488 to €3,824
- Depreciation +€2,143
up €2,143 (+7.5%), from €28,499 to €30,642
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 | €466,044 | €467,190 | +€1,147 | +0.2% |
| Fixed assets | 21/28 | €389,022 | €392,591 | +€3,570 | +0.9% |
| Tangible fixed assets | 22/27 | €265,042 | €256,024 | -€9,018 | -3.4% |
| Land and buildings | 22 | €131,853 | €126,148 | -€5,705 | -4.3% |
| Plant, machinery and equipment | 23 | €48,951 | €42,633 | -€6,318 | -12.9% |
| Furniture and vehicles | 24 | €84,238 | €87,243 | +€3,005 | +3.6% |
| Financial fixed assets | 28 | €123,980 | €136,568 | +€12,588 | +10.2% |
| Current assets | 29/58 | €77,022 | €74,599 | -€2,423 | -3.1% |
| Amounts receivable within one year | 40/41 | €44,095 | €51,983 | +€7,888 | +17.9% |
| Other amounts receivable | 41 | €44,095 | €51,983 | +€7,888 | +17.9% |
| Cash at bank and in hand | 54/58 | €32,927 | €22,167 | -€10,760 | -32.7% |
| Deferred charges and accrued income | 490/1 | - | €449 | +€449 | |
| Total equity and liabilities | 10/49 | €466,044 | €467,190 | +€1,147 | +0.2% |
| Equity | 10/15 | €316,187 | €307,199 | -€8,988 | -2.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €20,750 | €42,972 | +€22,222 | +107% |
| Non-distributable reserves | 130/1 | - | €2,000 | +€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Tax-exempt reserves | 132 | €20,750 | €18,750 | -€2,000 | -9.6% |
| Distributable reserves | 133 | - | €22,222 | +€22,222 | |
| Profit (loss) carried forward | 14 | €275,437 | €244,226 | -€31,210 | -11.3% |
| Amounts payable | 17/49 | €149,857 | €159,992 | +€10,135 | +6.8% |
| Amounts payable after more than one year | 17 | €92,936 | €74,259 | -€18,677 | -20.1% |
| Financial debts | 170/4 | €92,936 | €74,259 | -€18,677 | -20.1% |
| Amounts payable within one year | 42/48 | €56,921 | €85,733 | +€28,812 | +50.6% |
| Current portion of amounts payable after more than one year | 42 | €18,025 | €18,798 | +€773 | +4.3% |
| Trade debts | 44 | €11,677 | €12,574 | +€897 | +7.7% |
| Suppliers | 440/4 | €11,677 | €12,574 | +€897 | +7.7% |
| Taxes, remuneration and social security | 45 | €23,279 | €25,790 | +€2,511 | +10.8% |
| Taxes | 450/3 | €4,571 | €7,040 | +€2,469 | +54.0% |
| Remuneration and social security | 454/9 | €18,709 | €18,750 | +€41 | +0.2% |
| Other amounts payable | 47/48 | €3,939 | €28,571 | +€24,632 | +625% |
| Remuneration, social security and pensions | 62 | €90,475 | €63,590 | -€26,885 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,499 | €30,642 | +€2,143 | +7.5% |
| Other operating charges | 640/8 | €7,410 | €8,013 | +€604 | +8.1% |
| Gross operating margin | 9900 | €162,719 | €146,072 | -€16,647 | -10.2% |
| Operating profit (loss) | 9901 | €36,336 | €43,827 | +€7,491 | +20.6% |
| Financial income | 75/76B | €10,488 | €3,824 | -€6,665 | -63.5% |
| Recurring financial income | 75 | €10,488 | €3,824 | -€6,665 | -63.5% |
| Financial charges | 65/66B | €4,300 | €4,198 | -€101 | -2.4% |
| Recurring financial charges | 65 | €4,300 | €4,198 | -€101 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €42,524 | €43,452 | +€928 | +2.2% |
| Income taxes | 67/77 | €5,000 | €3,869 | -€1,131 | -22.6% |
| Profit (loss) for the period | 9904 | €37,524 | €39,583 | +€2,059 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,524 | €39,583 | +€2,059 | +5.5% |
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 20 October 2026 via checked.be.