M.I.I.: what changed
M.I.I.
Largest movements
- Tangible fixed assets +€28,208
new in 2025: €28,208
of which Furniture and vehicles: +€18,516
- Receivables within one year +€25,291
up €25,291 (+131%), from €19,361 to €44,653
of which Trade receivables: +€30,290
- Deferred charges and accrued income +€11,700
new in 2025: €11,700
- Cash +€10,477
up €10,477 (+1,262%), from €830 to €11,308
mainly Net result for the year (+€51,510) and Debts after one year (+€30,243)
- Intangible fixed assets +€4,624
new in 2025: €4,624
- Profit (loss) carried forward +€51,510
up €51,510 (+23.0%), from -€224,274 to -€172,764
- Debts after one year +€30,243
up €30,243 (+18.8%), from €160,628 to €190,872
- Advances received +€2,831
new in 2025: €2,831
- Tax, wage and social debts -€1,109
down €1,109 (-13.6%), from €8,142 to €7,033
- Gross operating margin -€15,835
down €15,835 (-21.5%), from €73,493 to €57,658
- Depreciation +€2,562
new in 2025: €2,562
- Financial charges -€1,079
down €1,079 (-43.2%), from €2,499 to €1,420
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,392 | €105,593 | +€84,202 | +394% |
| Fixed assets | 21/28 | €1,200 | €37,933 | +€36,733 | +3,061% |
| Intangible fixed assets | 21 | - | €4,624 | +€4,624 | |
| Tangible fixed assets | 22/27 | - | €28,208 | +€28,208 | |
| Plant, machinery and equipment | 23 | - | €5,627 | +€5,627 | |
| Furniture and vehicles | 24 | - | €18,516 | +€18,516 | |
| Other tangible fixed assets | 26 | - | €4,065 | +€4,065 | |
| Financial fixed assets | 28 | €1,200 | €5,100 | +€3,900 | +325% |
| Current assets | 29/58 | €20,192 | €67,660 | +€47,469 | +235% |
| Amounts receivable within one year | 40/41 | €19,361 | €44,653 | +€25,291 | +131% |
| Trade receivables | 40 | €14,036 | €44,326 | +€30,290 | +216% |
| Other amounts receivable | 41 | €5,325 | €327 | -€4,998 | -93.9% |
| Cash at bank and in hand | 54/58 | €830 | €11,308 | +€10,477 | +1,262% |
| Deferred charges and accrued income | 490/1 | - | €11,700 | +€11,700 | |
| Total equity and liabilities | 10/49 | €21,392 | €105,593 | +€84,202 | +394% |
| Equity | 10/15 | -€154,274 | -€102,764 | +€51,510 | +33.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,274 | -€172,764 | +€51,510 | +23.0% |
| Amounts payable | 17/49 | €175,666 | €208,357 | +€32,691 | +18.6% |
| Amounts payable after more than one year | 17 | €160,628 | €190,872 | +€30,243 | +18.8% |
| Financial debts | 170/4 | €160,628 | €190,872 | +€30,243 | +18.8% |
| Amounts payable within one year | 42/48 | €15,038 | €17,485 | +€2,448 | +16.3% |
| Trade debts | 44 | €6,895 | €7,621 | +€725 | +10.5% |
| Suppliers | 440/4 | €6,895 | €7,621 | +€725 | +10.5% |
| Advances received on contracts in progress | 46 | - | €2,831 | +€2,831 | |
| Taxes, remuneration and social security | 45 | €8,142 | €7,033 | -€1,109 | -13.6% |
| Taxes | 450/3 | €8,142 | €7,033 | -€1,109 | -13.6% |
| Non-recurring operating income | 76A | €53 | - | -€53 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,562 | +€2,562 | |
| Other operating charges | 640/8 | €1,486 | €1,312 | -€174 | -11.7% |
| Gross operating margin | 9900 | €73,493 | €57,658 | -€15,835 | -21.5% |
| Operating profit (loss) | 9901 | €72,007 | €53,784 | -€18,223 | -25.3% |
| Financial charges | 65/66B | €2,499 | €1,420 | -€1,079 | -43.2% |
| Recurring financial charges | 65 | €2,499 | €1,420 | -€1,079 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | €69,508 | €52,365 | -€17,144 | -24.7% |
| Income taxes | 67/77 | €865 | €854 | -€10 | -1.2% |
| Profit (loss) for the period | 9904 | €68,644 | €51,510 | -€17,133 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,644 | €51,510 | -€17,133 | -25.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.