MIARDINE: 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.
What changed
MIARDINE
NACE 01.110, Growing of cereals (except rice), leguminous crops and oil seeds
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€88,288
2024 · €62,212+€26,075
Equity
€7.7m
2024 · €7.6m+€88,288
Cash
€94,017
2024 · €82,548+€11,470
Balance sheet total
€8.6m
2024 · €8.6m+€28,010
Largest movements
Assets
- Current investments -€132,072
down €132,072 (-4.1%), from €3.2m to €3.1m
Equity and liabilities
- Reserves +€4.4m
up €4.4m (+178.6%), from €2.5m to €6.9m
of which Distributable reserves: +€4.4m
- Profit (loss) carried forward -€4.3m
no longer reported in 2025 (was €4.3m)
Income statement
- Financial income +€31,633
up €31,633 (+23.4%), from €134,897 to €166,529
of which Non-recurring financial income: +€31,935
- Depreciation +€13,034
up €13,034 (+12.3%), from €105,854 to €118,889
- Financial charges -€12,967
down €12,967 (-30.5%), from €42,477 to €29,510
of which Non-recurring financial charges: -€8,954
- Gross operating margin +€6,728
up €6,728 (+5.3%), from €128,012 to €134,740
- Other operating charges +€6,651
up €6,651 (+28.7%), from €23,192 to €29,843
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.
Result 2024
€62,212
Gross operating margin
+€6,728
Depreciation
-€13,034
Other operating charges
-€6,651
Financial income
+€31,633
Financial charges
+€12,967
Taxes
+€1,183
Deferred taxes and other
-€6,750
Result 2025
€88,288
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.
From operations
+€101,262
Investment
-€47,055
Financing
-€42,738
Cash 2024
€82,548
From operations (derived)
+€101,262
Net result for the year
+€88,288
Depreciation
+€118,889
Receivables within one year
-€82,840
Deferred charges and accrued income
-€5,535
Provisions
+€5,837
Trade debts
+€1,386
Tax, wage and social debts
-€17,286
Other debts
-€7,476
Investment (derived)
-€47,055
Investment in fixed assets (net)
-€179,127
Current investments
+€132,072
Financing
-€42,738
Debts after one year
-€43,226
Current portion of long-term debt
+€488
Cash 2025
€94,017
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,569,752 | €8,597,762 | +€28,010 | +0.3% |
| Fixed assets | 21/28 | €4,659,522 | €4,719,760 | +€60,238 | +1.3% |
| Tangible fixed assets | 22/27 | €4,658,622 | €4,718,860 | +€60,238 | +1.3% |
| Land and buildings | 22 | €4,641,492 | €4,576,111 | -€65,381 | -1.4% |
| Plant, machinery and equipment | 23 | €1,187 | €16,274 | +€15,087 | +1270.5% |
| Furniture and vehicles | 24 | €15,943 | €126,475 | +€110,532 | +693.3% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €3,910,230 | €3,878,002 | -€32,228 | -0.8% |
| Amounts receivable within one year | 40/41 | €533,584 | €616,424 | +€82,840 | +15.5% |
| Trade receivables | 40 | €320 | €800 | +€480 | +150.0% |
| Other amounts receivable | 41 | €533,264 | €615,624 | +€82,360 | +15.4% |
| Current investments | 50/53 | €3,230,811 | €3,098,739 | -€132,072 | -4.1% |
| Cash at bank and in hand | 54/58 | €82,548 | €94,017 | +€11,470 | +13.9% |
| Deferred charges and accrued income | 490/1 | €63,287 | €68,822 | +€5,535 | +8.7% |
| Total equity and liabilities | 10/49 | €8,569,752 | €8,597,762 | +€28,010 | +0.3% |
| Equity | 10/15 | €7,618,531 | €7,706,819 | +€88,288 | +1.2% |
| Contributions | 10/11 | €62,160 | €62,160 | = | 0.0% |
| Capital | 10 | €62,160 | €62,160 | = | 0.0% |
| Issued capital | 100 | €62,160 | €62,160 | = | 0.0% |
| Revaluation surpluses | 12 | €752,940 | €752,940 | = | 0.0% |
| Reserves | 13 | €2,473,577 | €6,891,719 | +€4.4m | +178.6% |
| Non-distributable reserves | 130/1 | €45,860 | €45,860 | = | 0.0% |
| Legal reserve | 130 | €45,860 | €45,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,960 | €63,473 | +€17,512 | +38.1% |
| Distributable reserves | 133 | €2,381,756 | €6,782,386 | +€4.4m | +184.8% |
| Profit (loss) carried forward | 14 | €4,329,855 | - | -€4.3m | |
| Provisions and deferred taxes | 16 | €15,320 | €21,158 | +€5,837 | +38.1% |
| Deferred taxes | 168 | €15,320 | €21,158 | +€5,837 | +38.1% |
| Amounts payable | 17/49 | €935,901 | €869,786 | -€66,115 | -7.1% |
| Amounts payable after more than one year | 17 | €404,980 | €361,754 | -€43,226 | -10.7% |
| Financial debts | 170/4 | €385,880 | €341,904 | -€43,976 | -11.4% |
| Other amounts payable | 178/9 | €19,100 | €19,850 | +€750 | +3.9% |
| Amounts payable within one year | 42/48 | €530,921 | €508,032 | -€22,889 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €43,488 | €43,976 | +€488 | +1.1% |
| Trade debts | 44 | €830 | €2,216 | +€1,386 | +166.9% |
| Suppliers | 440/4 | €830 | €2,216 | +€1,386 | +166.9% |
| Taxes, remuneration and social security | 45 | €29,145 | €11,859 | -€17,286 | -59.3% |
| Taxes | 450/3 | €29,145 | €11,859 | -€17,286 | -59.3% |
| Other amounts payable | 47/48 | €457,458 | €449,981 | -€7,476 | -1.6% |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,854 | €118,889 | +€13,034 | +12.3% |
| Other operating charges | 640/8 | €23,192 | €29,843 | +€6,651 | +28.7% |
| Gross operating margin | 9900 | €128,012 | €134,740 | +€6,728 | +5.3% |
| Operating profit (loss) | 9901 | -€1,034 | -€13,991 | -€12,957 | -1252.9% |
| Financial income | 75/76B | €134,897 | €166,529 | +€31,633 | +23.4% |
| Recurring financial income | 75 | €108,274 | €107,971 | -€302 | -0.3% |
| Non-recurring financial income | 76B | €26,623 | €58,558 | +€31,935 | +120.0% |
| Financial charges | 65/66B | €42,477 | €29,510 | -€12,967 | -30.5% |
| Recurring financial charges | 65 | €30,748 | €26,735 | -€4,013 | -13.1% |
| Non-recurring financial charges | 66B | €11,729 | €2,775 | -€8,954 | -76.3% |
| Profit (loss) for the period before taxes | 9903 | €91,386 | €123,028 | +€31,643 | +34.6% |
| Transfer from deferred taxes | 780 | €913 | €1,663 | +€750 | +82.2% |
| Transfer to deferred taxes | 680 | - | €7,500 | +€7,500 | |
| Income taxes | 67/77 | €30,086 | €28,903 | -€1,183 | -3.9% |
| Profit (loss) for the period | 9904 | €62,212 | €88,288 | +€26,075 | +41.9% |
| Transfer from tax-exempt reserves | 789 | €2,738 | €4,988 | +€2,250 | +82.2% |
| Transfer to tax-exempt reserves | 689 | - | €22,500 | +€22,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,950 | €70,776 | +€5,825 | +9.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.