MIACOM: 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.
MIACOM
Largest movements
- Receivables within one year -€15,160
down €15,160 (-47.7%), from €31,786 to €16,626
of which Trade receivables: -€20,200
- Stocks and contracts -€11,118
down €11,118 (-55.6%), from €19,990 to €8,872
- Tangible fixed assets -€5,485
down €5,485 (-33.3%), from €16,456 to €10,971
- Cash +€1,744
up €1,744, from €0 to €1,744
mainly Short-term financial debts (+€17,757) and Receivables within one year (+€15,160)
- Other debts -€36,767
down €36,767 (-43.8%), from €83,931 to €47,164
- Short-term financial debts +€17,757
new in 2025: €17,757
- Current portion of long-term debt -€9,435
no longer reported in 2025 (was €9,435)
- Tax, wage and social debts -€1,809
down €1,809 (-63.7%), from €2,841 to €1,032
- Profit (loss) carried forward +€1,583
up €1,583 (+3.2%), from -€48,840 to -€47,257
- Financial charges -€2,753
down €2,753 (-48.2%), from €5,717 to €2,964
- Gross operating margin +€1,944
up €1,944 (+19.7%), from €9,856 to €11,800
- Other operating charges +€457
up €457 (+58.4%), from €783 to €1,240
- Staff costs +€362
up €362 (+191.0%), from €190 to €552
- Financial income -€272
down €272 (-91.9%), from €296 to €24
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 | €68,532 | €38,869 | -€29,663 | -43.3% |
| Fixed assets | 21/28 | €16,756 | €11,271 | -€5,485 | -32.7% |
| Tangible fixed assets | 22/27 | €16,456 | €10,971 | -€5,485 | -33.3% |
| Furniture and vehicles | 24 | €16,456 | €10,971 | -€5,485 | -33.3% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €51,776 | €27,598 | -€24,178 | -46.7% |
| Stocks and contracts in progress | 3 | €19,990 | €8,872 | -€11,118 | -55.6% |
| Stocks | 30/36 | €19,990 | €8,872 | -€11,118 | -55.6% |
| Amounts receivable within one year | 40/41 | €31,786 | €16,626 | -€15,160 | -47.7% |
| Trade receivables | 40 | €31,786 | €11,586 | -€20,200 | -63.5% |
| Other amounts receivable | 41 | - | €5,040 | +€5,040 | |
| Cash at bank and in hand | 54/58 | €0 | €1,744 | +€1,744 | |
| Deferred charges and accrued income | 490/1 | €0 | €357 | +€357 | |
| Total equity and liabilities | 10/49 | €68,532 | €38,869 | -€29,663 | -43.3% |
| Equity | 10/15 | -€34,580 | -€32,997 | +€1,583 | +4.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,840 | -€47,257 | +€1,583 | +3.2% |
| Amounts payable | 17/49 | €103,112 | €71,866 | -€31,246 | -30.3% |
| Amounts payable within one year | 42/48 | €102,892 | €71,866 | -€31,026 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €9,435 | - | -€9,435 | |
| Financial debts | 43 | - | €17,757 | +€17,757 | |
| Credit institutions | 430/8 | - | €17,757 | +€17,757 | |
| Trade debts | 44 | €6,685 | €5,912 | -€773 | -11.6% |
| Suppliers | 440/4 | €6,685 | €5,912 | -€773 | -11.6% |
| Taxes, remuneration and social security | 45 | €2,841 | €1,032 | -€1,809 | -63.7% |
| Taxes | 450/3 | €2,841 | €1,032 | -€1,809 | -63.7% |
| Other amounts payable | 47/48 | €83,931 | €47,164 | -€36,767 | -43.8% |
| Accrued charges and deferred income | 492/3 | €220 | - | -€220 | |
| Remuneration, social security and pensions | 62 | €190 | €552 | +€362 | +191.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,485 | €5,485 | = | 0.0% |
| Other operating charges | 640/8 | €783 | €1,240 | +€457 | +58.4% |
| Non-recurring operating charges | 66A | €229 | - | -€229 | |
| Gross operating margin | 9900 | €9,856 | €11,800 | +€1,944 | +19.7% |
| Operating profit (loss) | 9901 | €3,169 | €4,523 | +€1,354 | +42.7% |
| Financial income | 75/76B | €296 | €24 | -€272 | -91.9% |
| Recurring financial income | 75 | €296 | €24 | -€272 | -91.9% |
| Financial charges | 65/66B | €5,717 | €2,964 | -€2,753 | -48.2% |
| Recurring financial charges | 65 | €5,717 | €2,964 | -€2,753 | -48.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,252 | €1,583 | +€3,834 | |
| Profit (loss) for the period | 9904 | -€2,252 | €1,583 | +€3,834 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,252 | €1,583 | +€3,834 |
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 5 October 2026 via checked.be.