BO & MIE: 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.
BO & MIE
Largest movements
- Cash +€124,186
up €124,186 (+189%), from €65,777 to €189,963
mainly Net result for the year (+€87,186) and Depreciation (+€19,593)
- Tangible fixed assets -€17,438
down €17,438 (-25.5%), from €68,336 to €50,898
of which Furniture and vehicles: -€13,486
- Receivables within one year -€14,529
down €14,529 (-57.1%), from €25,458 to €10,929
of which Trade receivables: -€12,984
- Financial fixed assets +€8,610
new in 2025: €8,610
- Reserves +€87,186
up €87,186 (+74.5%), from €117,051 to €204,237
- Tax, wage and social debts +€16,689
up €16,689 (+212%), from €7,872 to €24,560
of which Taxes: +€14,340
- Debts after one year -€6,760
no longer reported in 2025 (was €6,760)
- Short-term financial debts +€5,930
new in 2025: €5,930
- Gross operating margin +€110,788
up €110,788 (+151%), from €73,288 to €184,076
- Taxes +€31,642
up €31,642 (+664%), from €4,769 to €36,411
- Staff costs +€5,529
up €5,529 (+15.8%), from €35,051 to €40,581
- Depreciation -€3,091
down €3,091 (-13.6%), from €22,684 to €19,593
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 | €162,164 | €263,286 | +€101,122 | +62.4% |
| Fixed assets | 21/28 | €68,336 | €59,508 | -€8,828 | -12.9% |
| Tangible fixed assets | 22/27 | €68,336 | €50,898 | -€17,438 | -25.5% |
| Plant, machinery and equipment | 23 | €1,887 | €878 | -€1,009 | -53.5% |
| Furniture and vehicles | 24 | €46,103 | €32,617 | -€13,486 | -29.3% |
| Other tangible fixed assets | 26 | €20,346 | €17,403 | -€2,943 | -14.5% |
| Financial fixed assets | 28 | - | €8,610 | +€8,610 | |
| Current assets | 29/58 | €93,829 | €203,778 | +€109,950 | +117% |
| Amounts receivable within one year | 40/41 | €25,458 | €10,929 | -€14,529 | -57.1% |
| Trade receivables | 40 | €21,675 | €8,691 | -€12,984 | -59.9% |
| Other amounts receivable | 41 | €3,783 | €2,238 | -€1,544 | -40.8% |
| Cash at bank and in hand | 54/58 | €65,777 | €189,963 | +€124,186 | +189% |
| Deferred charges and accrued income | 490/1 | €2,593 | €2,886 | +€293 | +11.3% |
| Total equity and liabilities | 10/49 | €162,164 | €263,286 | +€101,122 | +62.4% |
| Equity | 10/15 | €129,451 | €216,637 | +€87,186 | +67.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €117,051 | €204,237 | +€87,186 | +74.5% |
| Distributable reserves | 133 | €117,051 | €204,237 | +€87,186 | +74.5% |
| Amounts payable | 17/49 | €32,714 | €46,649 | +€13,935 | +42.6% |
| Amounts payable after more than one year | 17 | €6,760 | - | -€6,760 | |
| Financial debts | 170/4 | €6,760 | - | -€6,760 | |
| Amounts payable within one year | 42/48 | €25,954 | €46,649 | +€20,695 | +79.7% |
| Current portion of amounts payable after more than one year | 42 | €8,062 | €6,760 | -€1,302 | -16.2% |
| Financial debts | 43 | - | €5,930 | +€5,930 | |
| Credit institutions | 430/8 | - | €5,930 | +€5,930 | |
| Trade debts | 44 | €8,657 | €8,053 | -€604 | -7.0% |
| Suppliers | 440/4 | €8,657 | €8,053 | -€604 | -7.0% |
| Taxes, remuneration and social security | 45 | €7,872 | €24,560 | +€16,689 | +212% |
| Taxes | 450/3 | €2 | €14,342 | +€14,340 | +575,896% |
| Remuneration and social security | 454/9 | €7,869 | €10,218 | +€2,349 | +29.8% |
| Other amounts payable | 47/48 | €1,363 | €1,347 | -€16 | -1.2% |
| Remuneration, social security and pensions | 62 | €35,051 | €40,581 | +€5,529 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,684 | €19,593 | -€3,091 | -13.6% |
| Other operating charges | 640/8 | €1,656 | €677 | -€978 | -59.1% |
| Gross operating margin | 9900 | €73,288 | €184,076 | +€110,788 | +151% |
| Operating profit (loss) | 9901 | €13,898 | €123,225 | +€109,328 | +787% |
| Financial income | 75/76B | €534 | €1,264 | +€730 | +137% |
| Recurring financial income | 75 | €534 | €1,264 | +€730 | +137% |
| Financial charges | 65/66B | €419 | €892 | +€473 | +113% |
| Recurring financial charges | 65 | €419 | €892 | +€473 | +113% |
| Profit (loss) for the period before taxes | 9903 | €14,013 | €123,598 | +€109,585 | +782% |
| Income taxes | 67/77 | €4,769 | €36,411 | +€31,642 | +664% |
| Profit (loss) for the period | 9904 | €9,244 | €87,186 | +€77,942 | +843% |
| Profit (loss) for the period to be appropriated | 9905 | €9,244 | €87,186 | +€77,942 | +843% |
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 16 October 2026 via checked.be.