MIA Capital: 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.
MIA Capital
Largest movements
- Cash -€39,763
down €39,763 (-90.1%), from €44,119 to €4,356
mainly Receivables within one year (-€26,614) and Trade debts (-€12,825)
- Receivables within one year +€26,614
up €26,614 (+277%), from €9,623 to €36,237
of which Trade receivables: +€19,463
- Tangible fixed assets -€4,168
down €4,168 (-15.4%), from €27,129 to €22,961
of which Furniture and vehicles: -€3,329
- Trade debts -€12,825
no longer reported in 2025 (was €12,825)
- Profit (loss) carried forward +€7,699
up €7,699 (+17.4%), from €44,274 to €51,973
- Other debts -€7,267
no longer reported in 2025 (was €7,267)
- Tax, wage and social debts -€5,069
down €5,069 (-26.6%), from €19,065 to €13,996
of which Taxes: -€4,460
- Gross operating margin -€51,749
down €51,749 (-62.8%), from €82,343 to €30,594
- Staff costs +€8,985
up €8,985 (+440%), from €2,042 to €11,027
- Taxes -€8,598
down €8,598 (-76.0%), from €11,307 to €2,708
- Financial charges +€3,092
up €3,092 (+10,031%), from €31 to €3,122
- Depreciation +€1,892
up €1,892 (+46.6%), from €4,060 to €5,953
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 | €86,431 | €68,968 | -€17,463 | -20.2% |
| Fixed assets | 21/28 | €31,029 | €26,861 | -€4,168 | -13.4% |
| Tangible fixed assets | 22/27 | €27,129 | €22,961 | -€4,168 | -15.4% |
| Land and buildings | 22 | €9,437 | €9,135 | -€302 | -3.2% |
| Plant, machinery and equipment | 23 | €5,256 | €3,756 | -€1,500 | -28.5% |
| Furniture and vehicles | 24 | €7,942 | €4,613 | -€3,329 | -41.9% |
| Assets under construction and advance payments | 27 | €4,493 | €5,456 | +€963 | +21.4% |
| Financial fixed assets | 28 | €3,900 | €3,900 | = | 0.0% |
| Current assets | 29/58 | €55,402 | €42,107 | -€13,295 | -24.0% |
| Stocks and contracts in progress | 3 | €1,660 | €1,514 | -€146 | -8.8% |
| Stocks | 30/36 | €1,660 | €1,514 | -€146 | -8.8% |
| Amounts receivable within one year | 40/41 | €9,623 | €36,237 | +€26,614 | +277% |
| Trade receivables | 40 | €8,594 | €28,058 | +€19,463 | +226% |
| Other amounts receivable | 41 | €1,029 | €8,179 | +€7,151 | +695% |
| Cash at bank and in hand | 54/58 | €44,119 | €4,356 | -€39,763 | -90.1% |
| Total equity and liabilities | 10/49 | €86,431 | €68,968 | -€17,463 | -20.2% |
| Equity | 10/15 | €47,274 | €54,973 | +€7,699 | +16.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,274 | €51,973 | +€7,699 | +17.4% |
| Amounts payable | 17/49 | €39,157 | €13,996 | -€25,161 | -64.3% |
| Amounts payable within one year | 42/48 | €39,157 | €13,996 | -€25,161 | -64.3% |
| Trade debts | 44 | €12,825 | - | -€12,825 | |
| Suppliers | 440/4 | €12,825 | - | -€12,825 | |
| Taxes, remuneration and social security | 45 | €19,065 | €13,996 | -€5,069 | -26.6% |
| Taxes | 450/3 | €17,039 | €12,579 | -€4,460 | -26.2% |
| Remuneration and social security | 454/9 | €2,026 | €1,417 | -€609 | -30.0% |
| Other amounts payable | 47/48 | €7,267 | - | -€7,267 | |
| Remuneration, social security and pensions | 62 | €2,042 | €11,027 | +€8,985 | +440% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,060 | €5,953 | +€1,892 | +46.6% |
| Other operating charges | 640/8 | €62 | €307 | +€245 | +395% |
| Gross operating margin | 9900 | €82,343 | €30,594 | -€51,749 | -62.8% |
| Operating profit (loss) | 9901 | €76,179 | €13,308 | -€62,871 | -82.5% |
| Financial income | 75/76B | €0 | €222 | +€222 | +443,180% |
| Recurring financial income | 75 | €0 | €222 | +€222 | +443,180% |
| Financial charges | 65/66B | €31 | €3,122 | +€3,092 | +10,031% |
| Recurring financial charges | 65 | €31 | €3,122 | +€3,092 | +10,031% |
| Profit (loss) for the period before taxes | 9903 | €76,148 | €10,407 | -€65,741 | -86.3% |
| Income taxes | 67/77 | €11,307 | €2,708 | -€8,598 | -76.0% |
| Profit (loss) for the period | 9904 | €64,841 | €7,699 | -€57,143 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,841 | €7,699 | -€57,143 | -88.1% |
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.