MIAGE: 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.
MIAGE
Largest movements
- Cash +€8,970
up €8,970 (+172.5%), from €5,201 to €14,171
mainly Receivables within one year (+€6,293) and Net result for the year (+€2,362)
- Receivables within one year -€6,293
down €6,293 (-47.3%), from €13,307 to €7,014
of which Trade receivables: -€5,639
- Reserves +€2,362
up €2,362 (+83.1%), from €2,842 to €5,204
of which Distributable reserves: +€2,362
- Accrued charges and deferred income +€507
new in 2025: €507
- Trade debts -€359
down €359 (-21.4%), from €1,676 to €1,317
- Gross operating margin -€7,229
down €7,229 (-65.8%), from €10,993 to €3,764
- Other operating charges -€666
down €666 (-56.7%), from €1,173 to €507
- Taxes +€661
up €661 (+120.5%), from €549 to €1,210
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 | €18,508 | €21,186 | +€2,677 | +14.5% |
| Current assets | 29/58 | €18,508 | €21,186 | +€2,677 | +14.5% |
| Amounts receivable within one year | 40/41 | €13,307 | €7,014 | -€6,293 | -47.3% |
| Trade receivables | 40 | €6,904 | €1,265 | -€5,639 | -81.7% |
| Other amounts receivable | 41 | €6,403 | €5,749 | -€654 | -10.2% |
| Cash at bank and in hand | 54/58 | €5,201 | €14,171 | +€8,970 | +172.5% |
| Total equity and liabilities | 10/49 | €18,508 | €21,186 | +€2,677 | +14.5% |
| Equity | 10/15 | €15,242 | €17,604 | +€2,362 | +15.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,842 | €5,204 | +€2,362 | +83.1% |
| Non-distributable reserves | 130/1 | €124 | €124 | = | 0.0% |
| Reserves not available under the articles | 1311 | €124 | €124 | = | 0.0% |
| Distributable reserves | 133 | €2,718 | €5,080 | +€2,362 | +86.9% |
| Amounts payable | 17/49 | €3,267 | €3,582 | +€315 | +9.6% |
| Amounts payable within one year | 42/48 | €3,267 | €3,075 | -€192 | -5.9% |
| Trade debts | 44 | €1,676 | €1,317 | -€359 | -21.4% |
| Suppliers | 440/4 | €1,676 | €1,317 | -€359 | -21.4% |
| Taxes, remuneration and social security | 45 | €1,591 | €1,758 | +€167 | +10.5% |
| Taxes | 450/3 | €1,591 | €1,758 | +€167 | +10.5% |
| Accrued charges and deferred income | 492/3 | - | €507 | +€507 | |
| Other operating charges | 640/8 | €1,173 | €507 | -€666 | -56.7% |
| Gross operating margin | 9900 | €10,993 | €3,764 | -€7,229 | -65.8% |
| Operating profit (loss) | 9901 | €9,820 | €3,256 | -€6,564 | -66.8% |
| Financial income | 75/76B | €307 | €365 | +€58 | +19.0% |
| Recurring financial income | 75 | €307 | €365 | +€58 | +19.0% |
| Financial charges | 65/66B | €94 | €50 | -€44 | -46.8% |
| Recurring financial charges | 65 | €94 | €50 | -€44 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €10,033 | €3,572 | -€6,461 | -64.4% |
| Income taxes | 67/77 | €549 | €1,210 | +€661 | +120.5% |
| Profit (loss) for the period | 9904 | €9,484 | €2,362 | -€7,122 | -75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,484 | €2,362 | -€7,122 | -75.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.