M.I.-SURE: 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.-SURE
Largest movements
- Receivables within one year +€77,855
up €77,855 (+65.9%), from €118,150 to €196,005
of which Other amounts receivable: +€77,151
- Cash +€3,602
up €3,602 (+3,646%), from €99 to €3,701
mainly Net result for the year (+€70,045) and Tax, wage and social debts (+€29,047)
- Reserves +€58,982
up €58,982 (+84.6%), from €69,687 to €128,669
- Tax, wage and social debts +€29,047
up €29,047 (+117%), from €24,914 to €53,960
- Debts after one year -€3,573
down €3,573 (-92.0%), from €3,884 to €311
- Gross operating margin +€18,376
up €18,376 (+22.6%), from €81,321 to €99,697
- Taxes +€8,297
up €8,297 (+36.8%), from €22,564 to €30,860
- Write-downs -€7,332
no longer reported in 2025 (was €7,332)
- Financial income +€3,468
up €3,468 (+91.8%), from €3,776 to €7,244
- Financial charges -€2,298
down €2,298 (-70.2%), from €3,274 to €977
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 | €119,000 | €200,646 | +€81,646 | +68.6% |
| Fixed assets | 21/28 | €751 | €940 | +€188 | +25.1% |
| Tangible fixed assets | 22/27 | €751 | €940 | +€188 | +25.1% |
| Plant, machinery and equipment | 23 | - | €940 | +€940 | |
| Furniture and vehicles | 24 | €751 | - | -€751 | |
| Current assets | 29/58 | €118,249 | €199,706 | +€81,457 | +68.9% |
| Amounts receivable within one year | 40/41 | €118,150 | €196,005 | +€77,855 | +65.9% |
| Trade receivables | 40 | €23,050 | €23,754 | +€705 | +3.1% |
| Other amounts receivable | 41 | €95,100 | €172,251 | +€77,151 | +81.1% |
| Cash at bank and in hand | 54/58 | €99 | €3,701 | +€3,602 | +3,646% |
| Total equity and liabilities | 10/49 | €119,000 | €200,646 | +€81,646 | +68.6% |
| Equity | 10/15 | €75,887 | €134,869 | +€58,982 | +77.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €69,687 | €128,669 | +€58,982 | +84.6% |
| Distributable reserves | 133 | €69,687 | €128,669 | +€58,982 | +84.6% |
| Amounts payable | 17/49 | €43,113 | €65,777 | +€22,664 | +52.6% |
| Amounts payable after more than one year | 17 | €3,884 | €311 | -€3,573 | -92.0% |
| Financial debts | 170/4 | €3,884 | €311 | -€3,573 | -92.0% |
| Amounts payable within one year | 42/48 | €39,230 | €65,466 | +€26,236 | +66.9% |
| Current portion of amounts payable after more than one year | 42 | €3,294 | €3,573 | +€278 | +8.4% |
| Financial debts | 43 | €1,942 | - | -€1,942 | |
| Credit institutions | 430/8 | €1,942 | - | -€1,942 | |
| Trade debts | 44 | €9,080 | €7,933 | -€1,146 | -12.6% |
| Suppliers | 440/4 | €9,080 | €7,933 | -€1,146 | -12.6% |
| Taxes, remuneration and social security | 45 | €24,914 | €53,960 | +€29,047 | +117% |
| Taxes | 450/3 | €24,914 | €53,960 | +€29,047 | +117% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,045 | €1,085 | +€40 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,332 | - | -€7,332 | |
| Other operating charges | 640/8 | €1,962 | €3,974 | +€2,012 | +103% |
| Gross operating margin | 9900 | €81,321 | €99,697 | +€18,376 | +22.6% |
| Operating profit (loss) | 9901 | €70,983 | €94,638 | +€23,656 | +33.3% |
| Financial income | 75/76B | €3,776 | €7,244 | +€3,468 | +91.8% |
| Recurring financial income | 75 | €3,776 | €7,244 | +€3,468 | +91.8% |
| Financial charges | 65/66B | €3,274 | €977 | -€2,298 | -70.2% |
| Recurring financial charges | 65 | €3,274 | €977 | -€2,298 | -70.2% |
| Profit (loss) for the period before taxes | 9903 | €71,484 | €100,906 | +€29,421 | +41.2% |
| Income taxes | 67/77 | €22,564 | €30,860 | +€8,297 | +36.8% |
| Profit (loss) for the period | 9904 | €48,921 | €70,045 | +€21,125 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,921 | €70,045 | +€21,125 | +43.2% |
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.