AS MIHALI: 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.
AS MIHALI
Largest movements
- Tangible fixed assets -€16,918
down €16,918 (-51.9%), from €32,610 to €15,692
of which Furniture and vehicles: -€17,185
- Receivables within one year -€8,504
down €8,504 (-11.6%), from €73,436 to €64,931
of which Trade receivables: -€10,744
- Debts after one year -€8,698
down €8,698 (-65.8%), from €13,209 to €4,511
- Current portion of long-term debt -€7,886
down €7,886 (-42.3%), from €18,647 to €10,761
- Tax, wage and social debts -€6,160
down €6,160 (-73.3%), from €8,402 to €2,241
of which Remuneration and social security: -€6,700
- Short-term financial debts -€4,945
down €4,945 (-87.2%), from €5,671 to €726
- Profit (loss) carried forward +€2,855
up €2,855 (+9.6%), from €29,840 to €32,695
- Turnover +€106,510
up €106,510 (+29.6%), from €359,400 to €465,909
- Purchases and services +€105,596
up €105,596 (+31.8%), from €332,171 to €437,767
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 | €107,325 | €81,390 | -€25,935 | -24.2% |
| Fixed assets | 21/28 | €32,610 | €15,692 | -€16,918 | -51.9% |
| Tangible fixed assets | 22/27 | €32,610 | €15,692 | -€16,918 | -51.9% |
| Plant, machinery and equipment | 23 | €2,251 | €2,519 | +€267 | +11.9% |
| Furniture and vehicles | 24 | €30,358 | €13,173 | -€17,185 | -56.6% |
| Current assets | 29/58 | €74,716 | €65,698 | -€9,017 | -12.1% |
| Amounts receivable within one year | 40/41 | €73,436 | €64,931 | -€8,504 | -11.6% |
| Trade receivables | 40 | €68,381 | €57,638 | -€10,744 | -15.7% |
| Other amounts receivable | 41 | €5,054 | €7,294 | +€2,239 | +44.3% |
| Cash at bank and in hand | 54/58 | €754 | €767 | +€12 | +1.6% |
| Deferred charges and accrued income | 490/1 | €525 | - | -€525 | |
| Total equity and liabilities | 10/49 | €107,325 | €81,390 | -€25,935 | -24.2% |
| Equity | 10/15 | €37,900 | €40,755 | +€2,855 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,840 | €32,695 | +€2,855 | +9.6% |
| Amounts payable | 17/49 | €69,425 | €40,635 | -€28,791 | -41.5% |
| Amounts payable after more than one year | 17 | €13,209 | €4,511 | -€8,698 | -65.8% |
| Financial debts | 170/4 | €13,209 | €4,511 | -€8,698 | -65.8% |
| Amounts payable within one year | 42/48 | €56,217 | €36,124 | -€20,093 | -35.7% |
| Current portion of amounts payable after more than one year | 42 | €18,647 | €10,761 | -€7,886 | -42.3% |
| Financial debts | 43 | €5,671 | €726 | -€4,945 | -87.2% |
| Credit institutions | 430/8 | €5,671 | €726 | -€4,945 | -87.2% |
| Trade debts | 44 | €22,557 | €21,990 | -€567 | -2.5% |
| Suppliers | 440/4 | €3,885 | €21,377 | +€17,492 | +450% |
| Bills of exchange payable | 441 | €18,673 | €614 | -€18,059 | -96.7% |
| Taxes, remuneration and social security | 45 | €8,402 | €2,241 | -€6,160 | -73.3% |
| Taxes | 450/3 | €1,701 | €2,241 | +€540 | +31.7% |
| Remuneration and social security | 454/9 | €6,700 | - | -€6,700 | |
| Other amounts payable | 47/48 | €940 | €406 | -€535 | -56.9% |
| Turnover | 70 | €359,400 | €465,909 | +€106,510 | +29.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €332,171 | €437,767 | +€105,596 | +31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,074 | €18,318 | -€756 | -4.0% |
| Other operating charges | 640/8 | €1,625 | €1,911 | +€286 | +17.6% |
| Gross operating margin | 9900 | €27,229 | €28,143 | +€914 | +3.4% |
| Operating profit (loss) | 9901 | €6,530 | €7,914 | +€1,384 | +21.2% |
| Financial charges | 65/66B | €2,744 | €2,817 | +€73 | +2.7% |
| Recurring financial charges | 65 | €2,744 | €2,817 | +€73 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €3,786 | €5,097 | +€1,311 | +34.6% |
| Income taxes | 67/77 | €1,701 | €2,241 | +€540 | +31.7% |
| Profit (loss) for the period | 9904 | €2,085 | €2,855 | +€770 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,085 | €2,855 | +€770 | +37.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.