MI-RESTO: 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-RESTO
Largest movements
- Receivables within one year +€109,252
up €109,252 (+115%), from €94,930 to €204,183
of which Other amounts receivable: +€88,592
- Reserves +€397,741
up €397,741 (+21.3%), from €1.9m to €2.3m
- Other debts -€261,175
down €261,175 (-28.8%), from €905,604 to €644,429
- Debts after one year -€76,562
down €76,562 (-13.4%), from €571,029 to €494,466
- Current portion of long-term debt +€43,123
up €43,123 (+58.5%), from €73,652 to €116,775
- Gross operating margin +€99,002
up €99,002 (+24.1%), from €411,171 to €510,173
- Taxes +€42,498
up €42,498 (+55.0%), from €77,279 to €119,777
- Financial income +€32,197
up €32,197 (+18.7%), from €172,605 to €204,803
- Financial charges -€30,836
down €30,836 (-27.2%), from €113,467 to €82,630
- Staff costs +€7,663
up €7,663 (+12.2%), from €62,924 to €70,586
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 | €3,630,505 | €3,721,879 | +€91,374 | +2.5% |
| Fixed assets | 21/28 | €3,515,769 | €3,500,695 | -€15,074 | -0.4% |
| Tangible fixed assets | 22/27 | €880,089 | €865,015 | -€15,074 | -1.7% |
| Land and buildings | 22 | €874,959 | €860,400 | -€14,560 | -1.7% |
| Plant, machinery and equipment | 23 | €1,189 | €889 | -€300 | -25.2% |
| Other tangible fixed assets | 26 | €3,941 | €3,726 | -€215 | -5.5% |
| Financial fixed assets | 28 | €2,635,680 | €2,635,680 | = | 0.0% |
| Current assets | 29/58 | €114,736 | €221,185 | +€106,449 | +92.8% |
| Amounts receivable within one year | 40/41 | €94,930 | €204,183 | +€109,252 | +115% |
| Trade receivables | 40 | €0 | €20,660 | +€20,660 | |
| Other amounts receivable | 41 | €94,930 | €183,523 | +€88,592 | +93.3% |
| Cash at bank and in hand | 54/58 | €19,250 | €16,033 | -€3,216 | -16.7% |
| Deferred charges and accrued income | 490/1 | €556 | €969 | +€413 | +74.2% |
| Total equity and liabilities | 10/49 | €3,630,505 | €3,721,879 | +€91,374 | +2.5% |
| Equity | 10/15 | €1,888,047 | €2,285,788 | +€397,741 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,869,447 | €2,267,188 | +€397,741 | +21.3% |
| Distributable reserves | 133 | €1,869,447 | €2,267,188 | +€397,741 | +21.3% |
| Amounts payable | 17/49 | €1,742,458 | €1,436,092 | -€306,366 | -17.6% |
| Amounts payable after more than one year | 17 | €571,029 | €494,466 | -€76,562 | -13.4% |
| Financial debts | 170/4 | €571,029 | €494,466 | -€76,562 | -13.4% |
| Amounts payable within one year | 42/48 | €1,084,881 | €883,872 | -€201,009 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €73,652 | €116,775 | +€43,123 | +58.5% |
| Trade debts | 44 | €2,288 | €7,848 | +€5,560 | +243% |
| Suppliers | 440/4 | €2,288 | €7,848 | +€5,560 | +243% |
| Advances received on contracts in progress | 46 | €3,060 | €0 | -€3,060 | -100% |
| Taxes, remuneration and social security | 45 | €100,277 | €114,820 | +€14,543 | +14.5% |
| Taxes | 450/3 | €93,015 | €106,811 | +€13,796 | +14.8% |
| Remuneration and social security | 454/9 | €7,262 | €8,009 | +€747 | +10.3% |
| Other amounts payable | 47/48 | €905,604 | €644,429 | -€261,175 | -28.8% |
| Accrued charges and deferred income | 492/3 | €86,549 | €57,754 | -€28,795 | -33.3% |
| Remuneration, social security and pensions | 62 | €62,924 | €70,586 | +€7,663 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,161 | €42,874 | +€713 | +1.7% |
| Other operating charges | 640/8 | €1,187 | €1,367 | +€180 | +15.2% |
| Gross operating margin | 9900 | €411,171 | €510,173 | +€99,002 | +24.1% |
| Operating profit (loss) | 9901 | €304,899 | €395,345 | +€90,446 | +29.7% |
| Financial income | 75/76B | €172,605 | €204,803 | +€32,197 | +18.7% |
| Recurring financial income | 75 | €172,605 | €204,803 | +€32,197 | +18.7% |
| Financial charges | 65/66B | €113,467 | €82,630 | -€30,836 | -27.2% |
| Recurring financial charges | 65 | €113,467 | €82,630 | -€30,836 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €364,038 | €517,518 | +€153,480 | +42.2% |
| Income taxes | 67/77 | €77,279 | €119,777 | +€42,498 | +55.0% |
| Profit (loss) for the period | 9904 | €286,758 | €397,741 | +€110,982 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €286,758 | €397,741 | +€110,982 | +38.7% |
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 30 October 2026 via checked.be.