M.I.A.: 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.
M.I.A.
Largest movements
- Tangible fixed assets +€107,987
up €107,987 (+1899.5%), from €5,685 to €113,672
of which Other tangible fixed assets: +€94,412
- Financial fixed assets -€45,000
no longer reported in 2025 (was €45,000)
- Deferred charges and accrued income +€18,495
up €18,495 (+242.0%), from €7,643 to €26,138
- Cash -€13,561
down €13,561 (-98.9%), from €13,718 to €157
mainly Investment in fixed assets (net) (-€79,615) and Deferred charges and accrued income (-€18,495)
- Debts after one year +€54,176
new in 2025: €54,176
- Profit (loss) carried forward +€18,836
up €18,836 (+508.0%), from €3,708 to €22,544
- Tax, wage and social debts -€13,586
down €13,586 (-73.4%), from €18,515 to €4,928
of which Taxes: -€15,000
- Other debts +€10,219
up €10,219 (+21.7%), from €47,110 to €57,329
- Staff costs +€24,072
new in 2025: €24,072
- Depreciation +€14,429
up €14,429 (+656.2%), from €2,199 to €16,628
- Gross operating margin +€10,040
up €10,040 (+16.8%), from €59,616 to €69,657
- Taxes -€5,924
down €5,924 (-39.7%), from €14,924 to €9,000
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 | €72,965 | €141,967 | +€69,002 | +94.6% |
| Fixed assets | 21/28 | €50,685 | €113,672 | +€62,987 | +124.3% |
| Tangible fixed assets | 22/27 | €5,685 | €113,672 | +€107,987 | +1899.5% |
| Furniture and vehicles | 24 | €5,685 | €19,260 | +€13,575 | +238.8% |
| Other tangible fixed assets | 26 | - | €94,412 | +€94,412 | |
| Financial fixed assets | 28 | €45,000 | - | -€45,000 | |
| Current assets | 29/58 | €22,280 | €28,295 | +€6,015 | +27.0% |
| Amounts receivable within one year | 40/41 | €918 | €2,000 | +€1,082 | +117.8% |
| Other amounts receivable | 41 | €918 | €2,000 | +€1,082 | +117.8% |
| Cash at bank and in hand | 54/58 | €13,718 | €157 | -€13,561 | -98.9% |
| Deferred charges and accrued income | 490/1 | €7,643 | €26,138 | +€18,495 | +242.0% |
| Total equity and liabilities | 10/49 | €72,965 | €141,967 | +€69,002 | +94.6% |
| Equity | 10/15 | €5,708 | €24,544 | +€18,836 | +330.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,708 | €22,544 | +€18,836 | +508.0% |
| Amounts payable | 17/49 | €67,257 | €117,423 | +€50,167 | +74.6% |
| Amounts payable after more than one year | 17 | - | €54,176 | +€54,176 | |
| Financial debts | 170/4 | - | €54,176 | +€54,176 | |
| Amounts payable within one year | 42/48 | €67,257 | €63,248 | -€4,009 | -6.0% |
| Trade debts | 44 | €1,632 | €990 | -€642 | -39.3% |
| Suppliers | 440/4 | €1,632 | €990 | -€642 | -39.3% |
| Taxes, remuneration and social security | 45 | €18,515 | €4,928 | -€13,586 | -73.4% |
| Taxes | 450/3 | €18,515 | €3,515 | -€15,000 | -81.0% |
| Remuneration and social security | 454/9 | - | €1,414 | +€1,414 | |
| Other amounts payable | 47/48 | €47,110 | €57,329 | +€10,219 | +21.7% |
| Remuneration, social security and pensions | 62 | - | €24,072 | +€24,072 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,199 | €16,628 | +€14,429 | +656.2% |
| Other operating charges | 640/8 | €681 | €535 | -€147 | -21.5% |
| Gross operating margin | 9900 | €59,616 | €69,657 | +€10,040 | +16.8% |
| Operating profit (loss) | 9901 | €56,736 | €28,422 | -€28,315 | -49.9% |
| Financial charges | 65/66B | €383 | €586 | +€203 | +52.9% |
| Recurring financial charges | 65 | €383 | €586 | +€203 | +52.9% |
| Profit (loss) for the period before taxes | 9903 | €56,353 | €27,836 | -€28,517 | -50.6% |
| Income taxes | 67/77 | €14,924 | €9,000 | -€5,924 | -39.7% |
| Profit (loss) for the period | 9904 | €41,429 | €18,836 | -€22,593 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,429 | €18,836 | -€22,593 | -54.5% |
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 10 October 2026 via checked.be.