AL-MIARI: 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.
AL-MIARI
Largest movements
- Cash -€26,002
down €26,002 (-76.5%), from €33,992 to €7,991
mainly Investment in fixed assets (net) (-€25,096) and Debts after one year (-€19,371)
- Intangible fixed assets -€20,625
down €20,625 (-70.7%), from €29,158 to €8,533
- Tangible fixed assets +€17,639
up €17,639 (+60.9%), from €28,960 to €46,599
of which Other tangible fixed assets: +€13,078
- Receivables within one year +€4,495
up €4,495 (+225%), from €2,000 to €6,495
of which Other amounts receivable: +€4,495
- Deferred charges and accrued income -€3,588
down €3,588 (-15.1%), from €23,785 to €20,197
- Debts after one year -€19,371
down €19,371 (-25.2%), from €76,884 to €57,514
- Other debts -€13,375
down €13,375 (-100%), from €13,375 to €0
- Trade debts +€4,373
up €4,373 (+135%), from €3,239 to €7,611
- Profit (loss) carried forward +€2,937
up €2,937 (+14.3%), from -€20,518 to -€17,581
- Tax, wage and social debts -€2,819
down €2,819 (-24.2%), from €11,651 to €8,832
of which Remuneration and social security: -€1,939
- Gross operating margin -€9,113
down €9,113 (-9.3%), from €97,680 to €88,567
- Staff costs -€2,565
down €2,565 (-6.5%), from €39,205 to €36,640
- Depreciation +€1,201
up €1,201 (+4.5%), from €26,881 to €28,082
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 | €117,894 | €89,814 | -€28,080 | -23.8% |
| Fixed assets | 21/28 | €58,117 | €55,132 | -€2,986 | -5.1% |
| Intangible fixed assets | 21 | €29,158 | €8,533 | -€20,625 | -70.7% |
| Tangible fixed assets | 22/27 | €28,960 | €46,599 | +€17,639 | +60.9% |
| Furniture and vehicles | 24 | €26,430 | €30,992 | +€4,562 | +17.3% |
| Other tangible fixed assets | 26 | €2,530 | €15,608 | +€13,078 | +517% |
| Current assets | 29/58 | €59,777 | €34,683 | -€25,094 | -42.0% |
| Amounts receivable within one year | 40/41 | €2,000 | €6,495 | +€4,495 | +225% |
| Trade receivables | 40 | €2,000 | €2,000 | = | 0.0% |
| Other amounts receivable | 41 | - | €4,495 | +€4,495 | |
| Cash at bank and in hand | 54/58 | €33,992 | €7,991 | -€26,002 | -76.5% |
| Deferred charges and accrued income | 490/1 | €23,785 | €20,197 | -€3,588 | -15.1% |
| Total equity and liabilities | 10/49 | €117,894 | €89,814 | -€28,080 | -23.8% |
| Equity | 10/15 | -€8,118 | -€5,181 | +€2,937 | +36.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,518 | -€17,581 | +€2,937 | +14.3% |
| Amounts payable | 17/49 | €126,013 | €94,995 | -€31,017 | -24.6% |
| Amounts payable after more than one year | 17 | €76,884 | €57,514 | -€19,371 | -25.2% |
| Financial debts | 170/4 | €76,884 | €57,514 | -€19,371 | -25.2% |
| Amounts payable within one year | 42/48 | €49,128 | €37,482 | -€11,647 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €20,864 | €21,038 | +€174 | +0.8% |
| Trade debts | 44 | €3,239 | €7,611 | +€4,373 | +135% |
| Suppliers | 440/4 | €3,239 | €7,611 | +€4,373 | +135% |
| Taxes, remuneration and social security | 45 | €11,651 | €8,832 | -€2,819 | -24.2% |
| Taxes | 450/3 | €4,398 | €3,518 | -€880 | -20.0% |
| Remuneration and social security | 454/9 | €7,252 | €5,314 | -€1,939 | -26.7% |
| Other amounts payable | 47/48 | €13,375 | €0 | -€13,375 | -100% |
| Remuneration, social security and pensions | 62 | €39,205 | €36,640 | -€2,565 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,881 | €28,082 | +€1,201 | +4.5% |
| Other operating charges | 640/8 | €387 | €463 | +€76 | +19.6% |
| Gross operating margin | 9900 | €97,680 | €88,567 | -€9,113 | -9.3% |
| Operating profit (loss) | 9901 | €31,207 | €23,382 | -€7,825 | -25.1% |
| Financial income | 75/76B | - | €136 | +€136 | |
| Recurring financial income | 75 | - | €136 | +€136 | |
| Financial charges | 65/66B | €16,500 | €17,022 | +€522 | +3.2% |
| Recurring financial charges | 65 | €16,500 | €17,022 | +€522 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €14,707 | €6,496 | -€8,211 | -55.8% |
| Income taxes | 67/77 | €4,398 | €3,559 | -€839 | -19.1% |
| Profit (loss) for the period | 9904 | €10,309 | €2,937 | -€7,371 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,309 | €2,937 | -€7,371 | -71.5% |
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 24 October 2026 via checked.be.