MIAW: 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.
MIAW
Largest movements
- Receivables within one year -€3,046
down €3,046 (-94.0%), from €3,241 to €194
- Cash -€100
down €100 (-96.4%), from €104 to €4
mainly Net result for the year (-€9,808) and Tax, wage and social debts (-€1,722)
- Profit (loss) carried forward -€9,808
down €9,808 (-42.7%), from -€22,973 to -€32,781
- Other debts +€6,037
new in 2025: €6,037
- Trade debts +€2,346
up €2,346 (+39.1%), from €6,006 to €8,352
- Tax, wage and social debts -€1,722
down €1,722 (-99.1%), from €1,737 to €15
of which Remuneration and social security: -€1,737
- Gross operating margin -€2,949
down €2,949 (-50.8%), from -€5,800 to -€8,748
- Financial income -€604
no longer reported in 2025 (was €604)
- Depreciation -€546
no longer reported in 2025 (was €546)
- Financial charges +€232
up €232 (+75.2%), from €308 to €540
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 | €3,370 | €223 | -€3,147 | -93.4% |
| Fixed assets | 21/28 | €25 | €25 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €3,345 | €198 | -€3,147 | -94.1% |
| Amounts receivable within one year | 40/41 | €3,241 | €194 | -€3,046 | -94.0% |
| Other amounts receivable | 41 | €3,241 | €194 | -€3,046 | -94.0% |
| Cash at bank and in hand | 54/58 | €104 | €4 | -€100 | -96.4% |
| Total equity and liabilities | 10/49 | €3,370 | €223 | -€3,147 | -93.4% |
| Equity | 10/15 | -€4,373 | -€14,181 | -€9,808 | -224.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,973 | -€32,781 | -€9,808 | -42.7% |
| Amounts payable | 17/49 | €7,743 | €14,404 | +€6,661 | +86.0% |
| Amounts payable within one year | 42/48 | €7,743 | €14,404 | +€6,661 | +86.0% |
| Trade debts | 44 | €6,006 | €8,352 | +€2,346 | +39.1% |
| Suppliers | 440/4 | €6,006 | €8,352 | +€2,346 | +39.1% |
| Taxes, remuneration and social security | 45 | €1,737 | €15 | -€1,722 | -99.1% |
| Taxes | 450/3 | - | €15 | +€15 | |
| Remuneration and social security | 454/9 | €1,737 | - | -€1,737 | |
| Other amounts payable | 47/48 | - | €6,037 | +€6,037 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €546 | - | -€546 | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€5,800 | -€8,748 | -€2,949 | -50.8% |
| Operating profit (loss) | 9901 | -€6,851 | -€9,268 | -€2,417 | -35.3% |
| Financial income | 75/76B | €604 | - | -€604 | |
| Recurring financial income | 75 | €604 | - | -€604 | |
| Financial charges | 65/66B | €308 | €540 | +€232 | +75.2% |
| Recurring financial charges | 65 | €308 | €540 | +€232 | +75.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,556 | -€9,808 | -€3,252 | -49.6% |
| Profit (loss) for the period | 9904 | -€6,556 | -€9,808 | -€3,252 | -49.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,556 | -€9,808 | -€3,252 | -49.6% |
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 12 October 2026 via checked.be.