MI-Concept: 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.
MI-Concept
Largest movements
- Receivables after one year -€210,024
down €210,024 (-57.2%), from €367,012 to €156,988
- Current investments +€200,000
up €200,000, from €0 to €200,000
- Cash +€182,756
up €182,756 (+23.7%), from €770,448 to €953,204
mainly Net result for the year (+€332,383) and Receivables after one year (+€210,024)
- Receivables within one year +€40,344
up €40,344 (+13.4%), from €300,266 to €340,611
of which Trade receivables: +€65,240
- Tangible fixed assets -€32,015
down €32,015 (-8.3%), from €384,339 to €352,325
of which Furniture and vehicles: -€30,698
- Trade debts +€181,218
up €181,218 (+59.9%), from €302,553 to €483,771
- Other debts -€83,184
down €83,184 (-95.6%), from €87,035 to €3,851
- Reserves +€59,712
up €59,712 (+3.9%), from €1.5m to €1.6m
of which Distributable reserves: +€59,712
- Gross operating margin +€123,334
up €123,334 (+10.6%), from €1.2m to €1.3m
- Staff costs +€55,248
up €55,248 (+8.4%), from €660,211 to €715,459
- Depreciation +€16,484
up €16,484 (+24.5%), from €67,350 to €83,834
- Taxes +€16,250
up €16,250 (+11.2%), from €144,632 to €160,882
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 | €2,052,958 | €2,215,563 | +€162,605 | +7.9% |
| Fixed assets | 21/28 | €525,075 | €489,821 | -€35,254 | -6.7% |
| Intangible fixed assets | 21 | €20,985 | €17,747 | -€3,239 | -15.4% |
| Tangible fixed assets | 22/27 | €384,339 | €352,325 | -€32,015 | -8.3% |
| Plant, machinery and equipment | 23 | €2,550 | €1,723 | -€827 | -32.4% |
| Furniture and vehicles | 24 | €117,895 | €87,197 | -€30,698 | -26.0% |
| Other tangible fixed assets | 26 | €263,895 | €263,405 | -€490 | -0.2% |
| Financial fixed assets | 28 | €119,750 | €119,750 | = | 0.0% |
| Current assets | 29/58 | €1,527,883 | €1,725,742 | +€197,859 | +12.9% |
| Amounts receivable after more than one year | 29 | €367,012 | €156,988 | -€210,024 | -57.2% |
| Other amounts receivable | 291 | €367,012 | €156,988 | -€210,024 | -57.2% |
| Stocks and contracts in progress | 3 | €35,876 | €36,544 | +€668 | +1.9% |
| Stocks | 30/36 | €35,876 | €36,544 | +€668 | +1.9% |
| Amounts receivable within one year | 40/41 | €300,266 | €340,611 | +€40,344 | +13.4% |
| Trade receivables | 40 | €248,990 | €314,230 | +€65,240 | +26.2% |
| Other amounts receivable | 41 | €51,276 | €26,380 | -€24,896 | -48.6% |
| Current investments | 50/53 | €0 | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €770,448 | €953,204 | +€182,756 | +23.7% |
| Deferred charges and accrued income | 490/1 | €54,280 | €38,395 | -€15,885 | -29.3% |
| Total equity and liabilities | 10/49 | €2,052,958 | €2,215,563 | +€162,605 | +7.9% |
| Equity | 10/15 | €1,547,598 | €1,607,310 | +€59,712 | +3.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,535,198 | €1,594,910 | +€59,712 | +3.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,533,338 | €1,593,050 | +€59,712 | +3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €505,359 | €608,253 | +€102,894 | +20.4% |
| Amounts payable within one year | 42/48 | €494,373 | €596,014 | +€101,642 | +20.6% |
| Trade debts | 44 | €302,553 | €483,771 | +€181,218 | +59.9% |
| Suppliers | 440/4 | €302,553 | €483,771 | +€181,218 | +59.9% |
| Taxes, remuneration and social security | 45 | €104,785 | €108,392 | +€3,608 | +3.4% |
| Taxes | 450/3 | €11,683 | €14,943 | +€3,260 | +27.9% |
| Remuneration and social security | 454/9 | €93,102 | €93,449 | +€347 | +0.4% |
| Other amounts payable | 47/48 | €87,035 | €3,851 | -€83,184 | -95.6% |
| Accrued charges and deferred income | 492/3 | €10,987 | €12,239 | +€1,252 | +11.4% |
| Remuneration, social security and pensions | 62 | €660,211 | €715,459 | +€55,248 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,350 | €83,834 | +€16,484 | +24.5% |
| Other operating charges | 640/8 | €4,076 | €3,710 | -€366 | -9.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,166,244 | €1,289,578 | +€123,334 | +10.6% |
| Operating profit (loss) | 9901 | €434,607 | €486,575 | +€51,968 | +12.0% |
| Financial income | 75/76B | €21,047 | €8,713 | -€12,334 | -58.6% |
| Recurring financial income | 75 | €21,047 | €8,713 | -€12,334 | -58.6% |
| Financial charges | 65/66B | €2,946 | €2,023 | -€923 | -31.3% |
| Recurring financial charges | 65 | €2,946 | €2,023 | -€923 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €452,708 | €493,265 | +€40,557 | +9.0% |
| Income taxes | 67/77 | €144,632 | €160,882 | +€16,250 | +11.2% |
| Profit (loss) for the period | 9904 | €308,076 | €332,383 | +€24,308 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €308,076 | €332,383 | +€24,308 | +7.9% |
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 13 October 2026 via checked.be.