MIBA: 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.
MIBA
Largest movements
- Current investments +€316,845
up €316,845 (+933%), from €33,960 to €350,805
- Cash +€148,825
up €148,825 (+102%), from €145,850 to €294,675
mainly Net result for the year (+€405,561) and Other debts (+€183,472)
- Tangible fixed assets -€93,545
down €93,545 (-5.2%), from €1.8m to €1.7m
of which Land and buildings: -€69,865
- Reserves +€215,715
up €215,715 (+13.2%), from €1.6m to €1.8m
of which Distributable reserves: +€217,046
- Other debts +€183,472
up €183,472 (+102%), from €180,299 to €363,771
- Gross operating margin +€302,398
up €302,398 (+54.3%), from €556,682 to €859,080
- Taxes +€93,157
up €93,157 (+100%), from €93,088 to €186,245
- Depreciation -€36,834
down €36,834 (-27.1%), from €135,821 to €98,987
- Financial charges +€22,948
up €22,948 (+732%), from €3,135 to €26,084
- Financial income -€15,671
down €15,671 (-72.6%), from €21,581 to €5,911
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.
Derived cash bridge
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 | €1,992,946 | €2,373,965 | +€381,018 | +19.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,794,959 | €1,701,414 | -€93,545 | -5.2% |
| Tangible fixed assets | 22/27 | €1,793,209 | €1,699,664 | -€93,545 | -5.2% |
| Land and buildings | 22 | €1,721,372 | €1,651,507 | -€69,865 | -4.1% |
| Plant, machinery and equipment | 23 | €1,290 | €2,016 | +€726 | +56.3% |
| Furniture and vehicles | 24 | €70,547 | €46,142 | -€24,406 | -34.6% |
| Financial fixed assets | 28 | €1,750 | €1,750 | = | 0.0% |
| Current assets | 29/58 | €197,987 | €672,550 | +€474,563 | +240% |
| Amounts receivable within one year | 40/41 | €10,495 | €19,124 | +€8,629 | +82.2% |
| Trade receivables | 40 | €9,984 | €18,938 | +€8,954 | +89.7% |
| Other amounts receivable | 41 | €511 | €186 | -€325 | -63.6% |
| Current investments | 50/53 | €33,960 | €350,805 | +€316,845 | +933% |
| Cash at bank and in hand | 54/58 | €145,850 | €294,675 | +€148,825 | +102% |
| Deferred charges and accrued income | 490/1 | €7,682 | €7,947 | +€264 | +3.4% |
| Total equity and liabilities | 10/49 | €1,992,946 | €2,373,965 | +€381,018 | +19.1% |
| Equity | 10/15 | €1,644,967 | €1,860,682 | +€215,715 | +13.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,632,567 | €1,848,282 | +€215,715 | +13.2% |
| Tax-exempt reserves | 132 | €31,278 | €29,947 | -€1,331 | -4.3% |
| Distributable reserves | 133 | €1,601,289 | €1,818,335 | +€217,046 | +13.6% |
| Provisions and deferred taxes | 16 | €4,176 | €3,732 | -€444 | -10.6% |
| Deferred taxes | 168 | €4,176 | €3,732 | -€444 | -10.6% |
| Amounts payable | 17/49 | €343,804 | €509,551 | +€165,747 | +48.2% |
| Amounts payable after more than one year | 17 | €39,988 | €22,947 | -€17,040 | -42.6% |
| Financial debts | 170/4 | €39,988 | €22,947 | -€17,040 | -42.6% |
| Amounts payable within one year | 42/48 | €301,828 | €461,487 | +€159,659 | +52.9% |
| Current portion of amounts payable after more than one year | 42 | €21,006 | €17,895 | -€3,110 | -14.8% |
| Trade debts | 44 | €2,194 | €5,021 | +€2,826 | +129% |
| Suppliers | 440/4 | €2,194 | €5,021 | +€2,826 | +129% |
| Taxes, remuneration and social security | 45 | €98,329 | €74,800 | -€23,529 | -23.9% |
| Taxes | 450/3 | €86,306 | €63,281 | -€23,024 | -26.7% |
| Remuneration and social security | 454/9 | €12,023 | €11,518 | -€505 | -4.2% |
| Other amounts payable | 47/48 | €180,299 | €363,771 | +€183,472 | +102% |
| Accrued charges and deferred income | 492/3 | €1,988 | €25,117 | +€23,128 | +1,163% |
| Remuneration, social security and pensions | 62 | €134,874 | €140,982 | +€6,108 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,821 | €98,987 | -€36,834 | -27.1% |
| Other operating charges | 640/8 | €5,517 | €7,576 | +€2,058 | +37.3% |
| Gross operating margin | 9900 | €556,682 | €859,080 | +€302,398 | +54.3% |
| Operating profit (loss) | 9901 | €280,470 | €611,535 | +€331,065 | +118% |
| Financial income | 75/76B | €21,581 | €5,911 | -€15,671 | -72.6% |
| Recurring financial income | 75 | €21,581 | €5,911 | -€15,671 | -72.6% |
| Financial charges | 65/66B | €3,135 | €26,084 | +€22,948 | +732% |
| Recurring financial charges | 65 | €3,135 | €26,084 | +€22,948 | +732% |
| Profit (loss) for the period before taxes | 9903 | €298,916 | €591,363 | +€292,446 | +97.8% |
| Transfer from deferred taxes | 780 | €469 | €444 | -€25 | -5.4% |
| Income taxes | 67/77 | €93,088 | €186,245 | +€93,157 | +100% |
| Profit (loss) for the period | 9904 | €206,297 | €405,561 | +€199,264 | +96.6% |
| Transfer from tax-exempt reserves | 789 | €1,406 | €1,331 | -€76 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €207,704 | €406,892 | +€199,189 | +95.9% |
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 17 October 2026 via checked.be.