MI-AGENCY: what changed
MI-AGENCY
Largest movements
- Current investments -€49,870
down €49,870 (-40.4%), from €123,348 to €73,478
- Deferred charges and accrued income +€15,364
up €15,364 (+109%), from €14,041 to €29,405
- Receivables within one year -€9,435
down €9,435 (-20.0%), from €47,242 to €37,806
of which Other amounts receivable: -€16,333
- Cash -€4,169
down €4,169 (-38.1%), from €10,949 to €6,780
mainly Trade debts (-€35,349) and Contributions, distributions and other (-€23,384)
- Trade debts -€35,349
down €35,349 (-81.1%), from €43,586 to €8,237
- Accrued charges and deferred income +€24,803
up €24,803 (+152%), from €16,274 to €41,078
- Reserves -€23,384
down €23,384 (-20.9%), from €111,983 to €88,599
of which Distributable reserves: -€23,384
- Profit (loss) carried forward -€15,934
new in 2025: -€15,934
- Financial charges +€20,216
up €20,216 (+1,785%), from €1,133 to €21,349
- Gross operating margin -€6,413
down €6,413 (-50.6%), from €12,672 to €6,259
- Taxes -€3,666
down €3,666 (-84.6%), from €4,334 to €668
- Financial income -€2,110
down €2,110 (-79.1%), from €2,668 to €559
- Depreciation +€542
up €542 (+36,589%), from €1 to €543
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 | €197,207 | €148,554 | -€48,654 | -24.7% |
| Fixed assets | 21/28 | €1,628 | €1,085 | -€543 | -33.4% |
| Tangible fixed assets | 22/27 | €1,628 | €1,085 | -€543 | -33.4% |
| Furniture and vehicles | 24 | €1,628 | €1,085 | -€543 | -33.4% |
| Current assets | 29/58 | €195,580 | €147,469 | -€48,111 | -24.6% |
| Amounts receivable within one year | 40/41 | €47,242 | €37,806 | -€9,435 | -20.0% |
| Trade receivables | 40 | €18,880 | €25,778 | +€6,897 | +36.5% |
| Other amounts receivable | 41 | €28,361 | €12,028 | -€16,333 | -57.6% |
| Current investments | 50/53 | €123,348 | €73,478 | -€49,870 | -40.4% |
| Cash at bank and in hand | 54/58 | €10,949 | €6,780 | -€4,169 | -38.1% |
| Deferred charges and accrued income | 490/1 | €14,041 | €29,405 | +€15,364 | +109% |
| Total equity and liabilities | 10/49 | €197,207 | €148,554 | -€48,654 | -24.7% |
| Equity | 10/15 | €136,983 | €97,665 | -€39,318 | -28.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €111,983 | €88,599 | -€23,384 | -20.9% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €109,483 | €86,099 | -€23,384 | -21.4% |
| Profit (loss) carried forward | 14 | - | -€15,934 | -€15,934 | |
| Amounts payable | 17/49 | €60,224 | €50,888 | -€9,336 | -15.5% |
| Amounts payable within one year | 42/48 | €43,950 | €9,811 | -€34,139 | -77.7% |
| Trade debts | 44 | €43,586 | €8,237 | -€35,349 | -81.1% |
| Suppliers | 440/4 | €43,586 | €8,237 | -€35,349 | -81.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €363 | €900 | +€537 | +148% |
| Taxes | 450/3 | €363 | €900 | +€537 | +148% |
| Other amounts payable | 47/48 | - | €673 | +€673 | |
| Accrued charges and deferred income | 492/3 | €16,274 | €41,078 | +€24,803 | +152% |
| Non-recurring operating income | 76A | €476 | €0 | -€476 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1 | €543 | +€542 | +36,589% |
| Other operating charges | 640/8 | €126 | €191 | +€65 | +51.9% |
| Gross operating margin | 9900 | €12,672 | €6,259 | -€6,413 | -50.6% |
| Operating profit (loss) | 9901 | €12,545 | €5,525 | -€7,020 | -56.0% |
| Financial income | 75/76B | €2,668 | €559 | -€2,110 | -79.1% |
| Recurring financial income | 75 | €2,668 | €559 | -€2,110 | -79.1% |
| Financial charges | 65/66B | €1,133 | €21,349 | +€20,216 | +1,785% |
| Recurring financial charges | 65 | €1,133 | €21,349 | +€20,216 | +1,785% |
| Profit (loss) for the period before taxes | 9903 | €14,080 | -€15,265 | -€29,346 | |
| Income taxes | 67/77 | €4,334 | €668 | -€3,666 | -84.6% |
| Profit (loss) for the period | 9904 | €9,746 | -€15,934 | -€25,680 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,746 | -€15,934 | -€25,680 |
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 7 November 2026 via checked.be.