MaMuse: what changed
MaMuse
Largest movements
- Cash -€23,327
down €23,327 (-16.0%), from €145,884 to €122,557
mainly Net result for the year (-€29,059) and Receivables within one year (-€6,528)
- Receivables within one year +€6,528
up €6,528 (+11.7%), from €55,579 to €62,107
of which Trade receivables: +€5,034
- Tangible fixed assets -€6,440
down €6,440 (-37.2%), from €17,309 to €10,869
of which Furniture and vehicles: -€5,779
- Profit (loss) carried forward -€29,059
down €29,059, from €22,352 to -€6,707
- Trade debts +€8,887
up €8,887 (+127%), from €6,997 to €15,884
- Tax, wage and social debts -€2,782
down €2,782 (-78.1%), from €3,563 to €781
of which Remuneration and social security: -€1,694
- Gross operating margin +€21,519
up €21,519 (+60.9%), from -€35,362 to -€13,843
- Staff costs +€6,012
up €6,012 (+1,564%), from €384 to €6,396
- Other operating charges +€1,172
up €1,172 (+67.1%), from €1,747 to €2,920
- Depreciation -€394
down €394 (-5.8%), from €6,834 to €6,440
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €220,217 | €197,263 | -€22,954 | -10.4% |
| Fixed assets | 21/28 | €17,309 | €10,869 | -€6,440 | -37.2% |
| Tangible fixed assets | 22/27 | €17,309 | €10,869 | -€6,440 | -37.2% |
| Plant, machinery and equipment | 23 | €992 | €331 | -€661 | -66.7% |
| Furniture and vehicles | 24 | €16,318 | €10,539 | -€5,779 | -35.4% |
| Current assets | 29/58 | €202,907 | €186,393 | -€16,514 | -8.1% |
| Amounts receivable within one year | 40/41 | €55,579 | €62,107 | +€6,528 | +11.7% |
| Trade receivables | 40 | €3,629 | €8,662 | +€5,034 | +139% |
| Other amounts receivable | 41 | €51,950 | €53,445 | +€1,495 | +2.9% |
| Cash at bank and in hand | 54/58 | €145,884 | €122,557 | -€23,327 | -16.0% |
| Deferred charges and accrued income | 490/1 | €1,444 | €1,729 | +€285 | +19.7% |
| Total equity and liabilities | 10/49 | €220,217 | €197,263 | -€22,954 | -10.4% |
| Equity | 10/15 | €209,657 | €180,598 | -€29,059 | -13.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €168,755 | €168,755 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €166,900 | €166,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,352 | -€6,707 | -€29,059 | |
| Amounts payable | 17/49 | €10,560 | €16,665 | +€6,105 | +57.8% |
| Amounts payable within one year | 42/48 | €10,560 | €16,665 | +€6,105 | +57.8% |
| Trade debts | 44 | €6,997 | €15,884 | +€8,887 | +127% |
| Suppliers | 440/4 | €6,997 | €15,884 | +€8,887 | +127% |
| Taxes, remuneration and social security | 45 | €3,563 | €781 | -€2,782 | -78.1% |
| Taxes | 450/3 | €1,869 | €781 | -€1,088 | -58.2% |
| Remuneration and social security | 454/9 | €1,694 | - | -€1,694 | |
| Remuneration, social security and pensions | 62 | €384 | €6,396 | +€6,012 | +1,564% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,834 | €6,440 | -€394 | -5.8% |
| Other operating charges | 640/8 | €1,747 | €2,920 | +€1,172 | +67.1% |
| Gross operating margin | 9900 | -€35,362 | -€13,843 | +€21,519 | +60.9% |
| Operating profit (loss) | 9901 | -€44,328 | -€29,599 | +€14,729 | +33.2% |
| Financial income | 75/76B | €793 | €847 | +€54 | +6.8% |
| Recurring financial income | 75 | €793 | €847 | +€54 | +6.8% |
| Financial charges | 65/66B | €169 | €307 | +€138 | +81.5% |
| Recurring financial charges | 65 | €169 | €307 | +€138 | +81.5% |
| Profit (loss) for the period before taxes | 9903 | -€43,704 | -€29,059 | +€14,645 | +33.5% |
| Profit (loss) for the period | 9904 | -€43,704 | -€29,059 | +€14,645 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,704 | -€29,059 | +€14,645 | +33.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.