M.I.A.: what changed
Two fiscal 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.
M.I.A.
Largest movements
- Cash -€67,037
down €67,037 (-38.4%), from €174,689 to €107,651
mainly Provisions (-€40,040) and Contributions, distributions and other (-€18,571)
- Tangible fixed assets -€16,440
down €16,440 (-5.5%), from €299,586 to €283,146
of which Plant, machinery and equipment: -€24,323
- Receivables within one year +€11,245
up €11,245 (+139.4%), from €8,069 to €19,314
of which Other amounts receivable: +€16,245
- Reserves -€120,121
down €120,121 (-71.2%), from €168,673 to €48,552
of which Tax-exempt reserves: -€120,121
- Profit (loss) carried forward +€92,371
up €92,371 (+73.3%), from €125,957 to €218,328
- Provisions -€40,040
down €40,040 (-73.9%), from €54,158 to €14,118
- Debts after one year -€9,022
down €9,022 (-15.6%), from €57,695 to €48,673
- Taxes +€34,225
new in 2025: €34,225
- Gross operating margin -€16,510
down €16,510 (-67.7%), from €24,389 to €7,878
- Financial income +€1,064
up €1,064 (+137.2%), from €775 to €1,839
- Depreciation -€484
down €484 (-2.9%), from €16,924 to €16,440
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.
Cash bridge derived
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 | €482,958 | €410,732 | -€72,226 | -15.0% |
| Fixed assets | 21/28 | €299,586 | €283,146 | -€16,440 | -5.5% |
| Tangible fixed assets | 22/27 | €299,586 | €283,146 | -€16,440 | -5.5% |
| Land and buildings | 22 | €275,263 | €283,146 | +€7,883 | +2.9% |
| Plant, machinery and equipment | 23 | €24,323 | €0 | -€24,323 | -100.0% |
| Current assets | 29/58 | €183,372 | €127,586 | -€55,786 | -30.4% |
| Amounts receivable within one year | 40/41 | €8,069 | €19,314 | +€11,245 | +139.4% |
| Trade receivables | 40 | €5,000 | €0 | -€5,000 | -100.0% |
| Other amounts receivable | 41 | €3,069 | €19,314 | +€16,245 | +529.3% |
| Cash at bank and in hand | 54/58 | €174,689 | €107,651 | -€67,037 | -38.4% |
| Deferred charges and accrued income | 490/1 | €614 | €621 | +€6 | +1.0% |
| Total equity and liabilities | 10/49 | €482,958 | €410,732 | -€72,226 | -15.0% |
| Equity | 10/15 | €356,603 | €328,853 | -€27,750 | -7.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €168,673 | €48,552 | -€120,121 | -71.2% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €162,475 | €42,355 | -€120,121 | -73.9% |
| Profit (loss) carried forward | 14 | €125,957 | €218,328 | +€92,371 | +73.3% |
| Provisions and deferred taxes | 16 | €54,158 | €14,118 | -€40,040 | -73.9% |
| Deferred taxes | 168 | €54,158 | €14,118 | -€40,040 | -73.9% |
| Amounts payable | 17/49 | €72,197 | €67,761 | -€4,436 | -6.1% |
| Amounts payable after more than one year | 17 | €57,695 | €48,673 | -€9,022 | -15.6% |
| Financial debts | 170/4 | €57,695 | €48,673 | -€9,022 | -15.6% |
| Amounts payable within one year | 42/48 | €14,048 | €18,869 | +€4,821 | +34.3% |
| Current portion of amounts payable after more than one year | 42 | €8,746 | €9,762 | +€1,015 | +11.6% |
| Trade debts | 44 | €5,302 | €9,108 | +€3,805 | +71.8% |
| Suppliers | 440/4 | €5,302 | €9,108 | +€3,805 | +71.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €453 | €218 | -€235 | -51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,924 | €16,440 | -€484 | -2.9% |
| Other operating charges | 640/8 | €5,925 | €6,120 | +€196 | +3.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €24,389 | €7,878 | -€16,510 | -67.7% |
| Operating profit (loss) | 9901 | €1,540 | -€14,682 | -€16,222 | |
| Financial income | 75/76B | €775 | €1,839 | +€1,064 | +137.2% |
| Recurring financial income | 75 | €775 | €1,839 | +€1,064 | +137.2% |
| Financial charges | 65/66B | €2,347 | €2,151 | -€197 | -8.4% |
| Recurring financial charges | 65 | €2,347 | €2,151 | -€197 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | -€32 | -€14,993 | -€14,961 | -46651.7% |
| Transfer from deferred taxes | 780 | €612 | €40,040 | +€39,428 | +6442.8% |
| Income taxes | 67/77 | - | €34,225 | +€34,225 | |
| Profit (loss) for the period | 9904 | €580 | -€9,178 | -€9,758 | |
| Transfer from tax-exempt reserves | 789 | €1,836 | €120,121 | +€118,285 | +6442.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,416 | €110,942 | +€108,527 | +4492.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.