MIAMI SUN: 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.
MIAMI SUN
Largest movements
- Tangible fixed assets -€23,014
down €23,014 (-23.1%), from €99,644 to €76,630
of which Furniture and vehicles: -€24,719
- Current investments +€12,000
up €12,000 (+27.8%), from €43,158 to €55,158
- Deferred charges and accrued income +€7,874
up €7,874 (+1066.7%), from €738 to €8,612
- Trade debts +€14,805
up €14,805 (+639.9%), from €2,314 to €17,119
- Debts after one year -€14,216
down €14,216 (-35.8%), from €39,748 to €25,531
- Profit (loss) carried forward -€10,813
down €10,813 (-31.6%), from -€34,209 to -€45,021
- Other debts +€10,235
up €10,235 (+55.5%), from €18,458 to €28,693
- Current portion of long-term debt -€3,393
down €3,393 (-19.3%), from €17,609 to €14,216
- Purchases and services -€20,100
down €20,100 (-6.8%), from €293,965 to €273,865
- Staff costs -€15,377
down €15,377 (-20.3%), from €75,587 to €60,210
- Other operating charges -€13,308
down €13,308 (-78.2%), from €17,028 to €3,721
- Gross operating margin -€5,612
down €5,612 (-5.5%), from €101,321 to €95,709
- Financial income +€4,226
up €4,226 (+887.2%), from €476 to €4,702
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 | €293,016 | €290,613 | -€2,403 | -0.8% |
| Fixed assets | 21/28 | €100,556 | €77,543 | -€23,014 | -22.9% |
| Tangible fixed assets | 22/27 | €99,644 | €76,630 | -€23,014 | -23.1% |
| Plant, machinery and equipment | 23 | €13,704 | €15,410 | +€1,706 | +12.4% |
| Furniture and vehicles | 24 | €85,939 | €61,220 | -€24,719 | -28.8% |
| Financial fixed assets | 28 | €913 | €913 | = | 0.0% |
| Current assets | 29/58 | €192,460 | €213,070 | +€20,610 | +10.7% |
| Stocks and contracts in progress | 3 | €8,173 | €8,390 | +€218 | +2.7% |
| Stocks | 30/36 | €8,173 | €8,390 | +€218 | +2.7% |
| Amounts receivable within one year | 40/41 | €71,008 | €70,954 | -€54 | -0.1% |
| Trade receivables | 40 | €54 | - | -€54 | |
| Other amounts receivable | 41 | €70,954 | €70,954 | = | 0.0% |
| Current investments | 50/53 | €43,158 | €55,158 | +€12,000 | +27.8% |
| Cash at bank and in hand | 54/58 | €69,383 | €69,956 | +€573 | +0.8% |
| Deferred charges and accrued income | 490/1 | €738 | €8,612 | +€7,874 | +1066.7% |
| Total equity and liabilities | 10/49 | €293,016 | €290,613 | -€2,403 | -0.8% |
| Equity | 10/15 | €206,870 | €196,057 | -€10,813 | -5.2% |
| Contributions | 10/11 | €37,600 | €37,600 | = | 0.0% |
| Capital | 10 | €37,600 | €37,600 | = | 0.0% |
| Issued capital | 100 | €37,600 | €37,600 | = | 0.0% |
| Reserves | 13 | €203,479 | €203,479 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,305 | €44,305 | = | 0.0% |
| Distributable reserves | 133 | €159,174 | €159,174 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,209 | -€45,021 | -€10,813 | -31.6% |
| Amounts payable | 17/49 | €86,146 | €94,556 | +€8,410 | +9.8% |
| Amounts payable after more than one year | 17 | €39,748 | €25,531 | -€14,216 | -35.8% |
| Financial debts | 170/4 | €39,748 | €25,531 | -€14,216 | -35.8% |
| Amounts payable within one year | 42/48 | €46,398 | €69,024 | +€22,626 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | €17,609 | €14,216 | -€3,393 | -19.3% |
| Trade debts | 44 | €2,314 | €17,119 | +€14,805 | +639.9% |
| Suppliers | 440/4 | €2,314 | €17,119 | +€14,805 | +639.9% |
| Taxes, remuneration and social security | 45 | €8,017 | €8,997 | +€979 | +12.2% |
| Taxes | 450/3 | €5,413 | €5,977 | +€564 | +10.4% |
| Remuneration and social security | 454/9 | €2,604 | €3,019 | +€415 | +15.9% |
| Other amounts payable | 47/48 | €18,458 | €28,693 | +€10,235 | +55.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €293,965 | €273,865 | -€20,100 | -6.8% |
| Remuneration, social security and pensions | 62 | €75,587 | €60,210 | -€15,377 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,306 | €39,908 | +€2,601 | +7.0% |
| Other operating charges | 640/8 | €17,028 | €3,721 | -€13,308 | -78.2% |
| Gross operating margin | 9900 | €101,321 | €95,709 | -€5,612 | -5.5% |
| Operating profit (loss) | 9901 | -€28,600 | -€8,129 | +€20,471 | +71.6% |
| Financial income | 75/76B | €476 | €4,702 | +€4,226 | +887.2% |
| Recurring financial income | 75 | €476 | €4,702 | +€4,226 | +887.2% |
| Financial charges | 65/66B | €6,205 | €4,746 | -€1,460 | -23.5% |
| Recurring financial charges | 65 | €6,205 | €4,746 | -€1,460 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | -€34,329 | -€8,173 | +€26,156 | +76.2% |
| Income taxes | 67/77 | -€121 | €2,640 | +€2,761 | |
| Profit (loss) for the period | 9904 | -€34,209 | -€10,813 | +€23,396 | +68.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,209 | -€10,813 | +€23,396 | +68.4% |
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 11 October 2026 via checked.be.