MI-FLEURS: what changed
Two fiscal 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-FLEURS
Largest movements
- Tangible fixed assets -€29,680
down €29,680 (-5.7%), from €522,464 to €492,784
of which Land and buildings: -€29,777
- Cash +€13,376
up €13,376 (+27.0%), from €49,595 to €62,970
mainly Depreciation (+€37,190) and Receivables within one year (+€9,235)
- Receivables within one year -€9,235
down €9,235 (-21.2%), from €43,637 to €34,401
of which Other amounts receivable: -€9,073
- Debts after one year -€22,913
down €22,913 (-5.7%), from €402,281 to €379,368
- Trade debts +€8,085
up €8,085 (+86.1%), from €9,395 to €17,480
- Tax, wage and social debts -€7,222
down €7,222 (-16.2%), from €44,491 to €37,270
of which Taxes: -€8,036
- Reserves -€7,100
down €7,100 (-7.0%), from €101,150 to €94,050
- Gross operating margin -€21,199
down €21,199 (-15.3%), from €138,247 to €117,048
- Taxes -€7,151
down €7,151 (-53.1%), from €13,459 to €6,308
- Depreciation +€7,135
up €7,135 (+23.7%), from €30,055 to €37,190
- Staff costs -€2,949
down €2,949 (-4.8%), from €61,170 to €58,221
- Write-downs +€1,935
up €1,935 (+65.4%), from -€2,957 to -€1,022
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.
Cash bridge derived
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 | €634,624 | €605,279 | -€29,345 | -4.6% |
| Fixed assets | 21/28 | €527,072 | €495,535 | -€31,537 | -6.0% |
| Intangible fixed assets | 21 | €3,958 | €1,981 | -€1,977 | -49.9% |
| Tangible fixed assets | 22/27 | €522,464 | €492,784 | -€29,680 | -5.7% |
| Land and buildings | 22 | €517,639 | €487,861 | -€29,777 | -5.8% |
| Plant, machinery and equipment | 23 | €181 | - | -€181 | |
| Furniture and vehicles | 24 | €4,644 | €4,922 | +€278 | +6.0% |
| Financial fixed assets | 28 | €650 | €770 | +€120 | +18.5% |
| Current assets | 29/58 | €107,553 | €109,745 | +€2,192 | +2.0% |
| Stocks and contracts in progress | 3 | €12,910 | €10,921 | -€1,989 | -15.4% |
| Stocks | 30/36 | €12,910 | €10,921 | -€1,989 | -15.4% |
| Amounts receivable within one year | 40/41 | €43,637 | €34,401 | -€9,235 | -21.2% |
| Trade receivables | 40 | €28,976 | €28,814 | -€162 | -0.6% |
| Other amounts receivable | 41 | €14,660 | €5,587 | -€9,073 | -61.9% |
| Cash at bank and in hand | 54/58 | €49,595 | €62,970 | +€13,376 | +27.0% |
| Deferred charges and accrued income | 490/1 | €1,411 | €1,452 | +€40 | +2.9% |
| Total equity and liabilities | 10/49 | €634,624 | €605,279 | -€29,345 | -4.6% |
| Equity | 10/15 | €128,093 | €121,011 | -€7,082 | -5.5% |
| Contributions | 10/11 | €26,500 | €26,500 | = | 0.0% |
| Reserves | 13 | €101,150 | €94,050 | -€7,100 | -7.0% |
| Distributable reserves | 133 | €101,150 | €94,050 | -€7,100 | -7.0% |
| Profit (loss) carried forward | 14 | €443 | €461 | +€18 | +4.0% |
| Amounts payable | 17/49 | €506,531 | €484,268 | -€22,263 | -4.4% |
| Amounts payable after more than one year | 17 | €402,281 | €379,368 | -€22,913 | -5.7% |
| Financial debts | 170/4 | €402,281 | €379,368 | -€22,913 | -5.7% |
| Amounts payable within one year | 42/48 | €93,859 | €94,663 | +€804 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €22,622 | €22,913 | +€291 | +1.3% |
| Trade debts | 44 | €9,395 | €17,480 | +€8,085 | +86.1% |
| Suppliers | 440/4 | €9,395 | €17,480 | +€8,085 | +86.1% |
| Taxes, remuneration and social security | 45 | €44,491 | €37,270 | -€7,222 | -16.2% |
| Taxes | 450/3 | €39,886 | €31,850 | -€8,036 | -20.1% |
| Remuneration and social security | 454/9 | €4,605 | €5,420 | +€814 | +17.7% |
| Other amounts payable | 47/48 | €17,350 | €17,000 | -€350 | -2.0% |
| Accrued charges and deferred income | 492/3 | €10,392 | €10,238 | -€154 | -1.5% |
| Remuneration, social security and pensions | 62 | €61,170 | €58,221 | -€2,949 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,055 | €37,190 | +€7,135 | +23.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,957 | -€1,022 | +€1,935 | +65.4% |
| Other operating charges | 640/8 | €5,390 | €3,705 | -€1,685 | -31.3% |
| Gross operating margin | 9900 | €138,247 | €117,048 | -€21,199 | -15.3% |
| Operating profit (loss) | 9901 | €44,589 | €18,954 | -€25,634 | -57.5% |
| Financial income | 75/76B | €2,035 | €1,183 | -€852 | -41.9% |
| Recurring financial income | 75 | €2,035 | €1,183 | -€852 | -41.9% |
| Financial charges | 65/66B | €6,467 | €5,912 | -€555 | -8.6% |
| Recurring financial charges | 65 | €6,467 | €5,912 | -€555 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €40,157 | €14,225 | -€25,932 | -64.6% |
| Income taxes | 67/77 | €13,459 | €6,308 | -€7,151 | -53.1% |
| Profit (loss) for the period | 9904 | €26,698 | €7,918 | -€18,780 | -70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,698 | €7,918 | -€18,780 | -70.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.