M.I.S.: 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.S.
Largest movements
- Receivables within one year +€7,232
up €7,232 (+28.2%), from €25,626 to €32,858
of which Other amounts receivable: +€9,922
- Tangible fixed assets +€4,553
up €4,553 (+15.3%), from €29,714 to €34,267
of which Other tangible fixed assets: +€6,792
- Cash -€2,527
down €2,527 (-13.5%), from €18,780 to €16,253
mainly Investment in fixed assets (net) (-€9,199) and Receivables within one year (-€7,232)
- Deferred charges and accrued income -€1,949
down €1,949 (-28.5%), from €6,844 to €4,896
- Stocks and contracts -€1,000
no longer reported in 2025 (was €1,000)
- Reserves +€11,797
up €11,797 (+52.4%), from €22,494 to €34,292
- Trade debts -€6,810
down €6,810 (-23.7%), from €28,746 to €21,936
- Other debts +€3,015
up €3,015 (+25.7%), from €11,752 to €14,767
- Accrued charges and deferred income -€1,185
down €1,185 (-93.7%), from €1,265 to €80
- Gross operating margin +€15,503
up €15,503 (+113%), from €13,706 to €29,209
- Taxes +€6,089
up €6,089 (+269%), from €2,264 to €8,354
- Other operating charges -€2,462
down €2,462 (-67.8%), from €3,632 to €1,170
- Financial charges -€572
down €572 (-15.6%), from €3,665 to €3,093
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 | €81,964 | €88,274 | +€6,310 | +7.7% |
| Fixed assets | 21/28 | €29,714 | €34,267 | +€4,553 | +15.3% |
| Tangible fixed assets | 22/27 | €29,714 | €34,267 | +€4,553 | +15.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €21,470 | €19,231 | -€2,239 | -10.4% |
| Other tangible fixed assets | 26 | €8,244 | €15,036 | +€6,792 | +82.4% |
| Current assets | 29/58 | €52,250 | €54,007 | +€1,757 | +3.4% |
| Stocks and contracts in progress | 3 | €1,000 | - | -€1,000 | |
| Contracts in progress | 37 | €1,000 | - | -€1,000 | |
| Amounts receivable within one year | 40/41 | €25,626 | €32,858 | +€7,232 | +28.2% |
| Trade receivables | 40 | €18,008 | €15,318 | -€2,690 | -14.9% |
| Other amounts receivable | 41 | €7,618 | €17,540 | +€9,922 | +130% |
| Cash at bank and in hand | 54/58 | €18,780 | €16,253 | -€2,527 | -13.5% |
| Deferred charges and accrued income | 490/1 | €6,844 | €4,896 | -€1,949 | -28.5% |
| Total equity and liabilities | 10/49 | €81,964 | €88,274 | +€6,310 | +7.7% |
| Equity | 10/15 | €34,894 | €46,692 | +€11,797 | +33.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €22,494 | €34,292 | +€11,797 | +52.4% |
| Distributable reserves | 133 | €22,494 | €34,292 | +€11,797 | +52.4% |
| Amounts payable | 17/49 | €47,070 | €41,582 | -€5,488 | -11.7% |
| Amounts payable within one year | 42/48 | €45,805 | €41,502 | -€4,303 | -9.4% |
| Trade debts | 44 | €28,746 | €21,936 | -€6,810 | -23.7% |
| Suppliers | 440/4 | €28,746 | €21,936 | -€6,810 | -23.7% |
| Taxes, remuneration and social security | 45 | €5,308 | €4,799 | -€508 | -9.6% |
| Taxes | 450/3 | €5,308 | €4,799 | -€508 | -9.6% |
| Other amounts payable | 47/48 | €11,752 | €14,767 | +€3,015 | +25.7% |
| Accrued charges and deferred income | 492/3 | €1,265 | €80 | -€1,185 | -93.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,650 | €4,646 | -€5 | -0.1% |
| Other operating charges | 640/8 | €3,632 | €1,170 | -€2,462 | -67.8% |
| Non-recurring operating charges | 66A | - | €842 | +€842 | |
| Gross operating margin | 9900 | €13,706 | €29,209 | +€15,503 | +113% |
| Operating profit (loss) | 9901 | €5,424 | €22,552 | +€17,128 | +316% |
| Financial income | 75/76B | €601 | €692 | +€91 | +15.2% |
| Recurring financial income | 75 | €601 | €692 | +€91 | +15.2% |
| Financial charges | 65/66B | €3,665 | €3,093 | -€572 | -15.6% |
| Recurring financial charges | 65 | €3,665 | €3,093 | -€572 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €2,360 | €20,151 | +€17,791 | +754% |
| Income taxes | 67/77 | €2,264 | €8,354 | +€6,089 | +269% |
| Profit (loss) for the period | 9904 | €95 | €11,797 | +€11,702 | +12,302% |
| Profit (loss) for the period to be appropriated | 9905 | €95 | €11,797 | +€11,702 | +12,302% |
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 21 October 2026 via checked.be.