MI.SO: 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.SO
Largest movements
- Receivables within one year +€283,434
up €283,434 (+642.7%), from €44,099 to €327,533
of which Other amounts receivable: +€302,310
- Cash -€12,723
down €12,723 (-15.4%), from €82,698 to €69,975
mainly Contributions, distributions and other (-€586,901) and Receivables within one year (-€283,434)
- Other debts +€387,510
up €387,510 (+2473.2%), from €15,669 to €403,179
- Reserves -€94,291
no longer reported in 2026 (was €94,291)
- Accrued charges and deferred income -€20,250
no longer reported in 2026 (was €20,250)
- Financial income +€398,007
up €398,007 (+19969.7%), from €1,993 to €400,000
- Gross operating margin +€47,052
up €47,052 (+53.1%), from €88,678 to €135,731
- Taxes +€12,019
up €12,019 (+57.1%), from €21,032 to €33,051
- Depreciation +€1,980
up €1,980 (+30.0%), from €6,598 to €8,578
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €644,287 | €914,740 | +€270,453 | +42.0% |
| Fixed assets | 21/28 | €514,697 | €515,278 | +€581 | +0.1% |
| Tangible fixed assets | 22/27 | €14,697 | €15,278 | +€581 | +4.0% |
| Furniture and vehicles | 24 | €14,697 | €15,278 | +€581 | +4.0% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €129,590 | €399,462 | +€269,872 | +208.3% |
| Amounts receivable within one year | 40/41 | €44,099 | €327,533 | +€283,434 | +642.7% |
| Trade receivables | 40 | €44,099 | €25,222 | -€18,877 | -42.8% |
| Other amounts receivable | 41 | - | €302,310 | +€302,310 | |
| Cash at bank and in hand | 54/58 | €82,698 | €69,975 | -€12,723 | -15.4% |
| Deferred charges and accrued income | 490/1 | €2,793 | €1,955 | -€838 | -30.0% |
| Total equity and liabilities | 10/49 | €644,287 | €914,740 | +€270,453 | +42.0% |
| Equity | 10/15 | €594,391 | €500,100 | -€94,291 | -15.9% |
| Contributions | 10/11 | €500,100 | €500,100 | = | 0.0% |
| Reserves | 13 | €94,291 | - | -€94,291 | |
| Distributable reserves | 133 | €94,291 | - | -€94,291 | |
| Amounts payable | 17/49 | €49,897 | €414,640 | +€364,744 | +731.0% |
| Amounts payable within one year | 42/48 | €29,647 | €414,640 | +€384,994 | +1298.6% |
| Trade debts | 44 | €1,339 | €1,179 | -€161 | -12.0% |
| Suppliers | 440/4 | €1,339 | €1,179 | -€161 | -12.0% |
| Taxes, remuneration and social security | 45 | €12,638 | €10,282 | -€2,356 | -18.6% |
| Taxes | 450/3 | €12,638 | €10,282 | -€2,356 | -18.6% |
| Other amounts payable | 47/48 | €15,669 | €403,179 | +€387,510 | +2473.2% |
| Accrued charges and deferred income | 492/3 | €20,250 | - | -€20,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,598 | €8,578 | +€1,980 | +30.0% |
| Other operating charges | 640/8 | €917 | €607 | -€309 | -33.7% |
| Gross operating margin | 9900 | €88,678 | €135,731 | +€47,052 | +53.1% |
| Operating profit (loss) | 9901 | €81,164 | €126,545 | +€45,381 | +55.9% |
| Financial income | 75/76B | €1,993 | €400,000 | +€398,007 | +19969.7% |
| Recurring financial income | 75 | €1,993 | €400,000 | +€398,007 | +19969.7% |
| Financial charges | 65/66B | €1,031 | €884 | -€147 | -14.3% |
| Recurring financial charges | 65 | €1,031 | €884 | -€147 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €82,126 | €525,662 | +€443,535 | +540.1% |
| Income taxes | 67/77 | €21,032 | €33,051 | +€12,019 | +57.1% |
| Profit (loss) for the period | 9904 | €61,094 | €492,610 | +€431,516 | +706.3% |
| Profit (loss) for the period to be appropriated | 9905 | €61,094 | €492,610 | +€431,516 | +706.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.