MIBUS: 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.
MIBUS
Largest movements
- Cash +€169,164
up €169,164 (+29.8%), from €568,616 to €737,780
mainly Net result for the year (+€181,994) and Receivables after one year (+€96,349)
- Receivables after one year -€96,349
down €96,349 (-40.4%), from €238,559 to €142,210
- Tangible fixed assets -€35,380
down €35,380 (-16.6%), from €212,822 to €177,441
of which Furniture and vehicles: -€31,535
- Other debts -€198,704
down €198,704 (-100.0%), from €198,704 to €0
- Reserves +€181,994
up €181,994 (+22.9%), from €793,212 to €975,206
of which Distributable reserves: +€181,994
- Tax, wage and social debts +€62,559
up €62,559 (+389.6%), from €16,057 to €78,616
- Gross operating margin +€198,887
up €198,887 (+221.0%), from €89,997 to €288,885
- Taxes +€51,681
up €51,681 (+344.5%), from €15,002 to €66,684
- Other operating charges -€3,056
down €3,056 (-75.3%), from €4,058 to €1,002
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 | €1,030,296 | €1,077,860 | +€47,564 | +4.6% |
| Fixed assets | 21/28 | €212,822 | €177,441 | -€35,380 | -16.6% |
| Tangible fixed assets | 22/27 | €212,822 | €177,441 | -€35,380 | -16.6% |
| Land and buildings | 22 | €129,728 | €125,883 | -€3,845 | -3.0% |
| Furniture and vehicles | 24 | €75,094 | €43,558 | -€31,535 | -42.0% |
| Other tangible fixed assets | 26 | €8,000 | €8,000 | = | 0.0% |
| Current assets | 29/58 | €817,474 | €900,418 | +€82,944 | +10.1% |
| Amounts receivable after more than one year | 29 | €238,559 | €142,210 | -€96,349 | -40.4% |
| Other amounts receivable | 291 | €238,559 | €142,210 | -€96,349 | -40.4% |
| Amounts receivable within one year | 40/41 | €10,050 | €20,168 | +€10,117 | +100.7% |
| Trade receivables | 40 | €53 | €0 | -€53 | -100.0% |
| Other amounts receivable | 41 | €9,998 | €20,168 | +€10,170 | +101.7% |
| Cash at bank and in hand | 54/58 | €568,616 | €737,780 | +€169,164 | +29.8% |
| Deferred charges and accrued income | 490/1 | €248 | €261 | +€13 | +5.1% |
| Total equity and liabilities | 10/49 | €1,030,296 | €1,077,860 | +€47,564 | +4.6% |
| Equity | 10/15 | €811,812 | €993,806 | +€181,994 | +22.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €793,212 | €975,206 | +€181,994 | +22.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €791,352 | €973,346 | +€181,994 | +23.0% |
| Amounts payable | 17/49 | €218,484 | €84,054 | -€134,430 | -61.5% |
| Amounts payable within one year | 42/48 | €218,484 | €81,273 | -€137,211 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,723 | €2,657 | -€1,066 | -28.6% |
| Suppliers | 440/4 | €3,723 | €2,657 | -€1,066 | -28.6% |
| Taxes, remuneration and social security | 45 | €16,057 | €78,616 | +€62,559 | +389.6% |
| Taxes | 450/3 | €16,057 | €78,616 | +€62,559 | +389.6% |
| Other amounts payable | 47/48 | €198,704 | €0 | -€198,704 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €2,780 | +€2,780 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,374 | €35,380 | -€1,994 | -5.3% |
| Other operating charges | 640/8 | €4,058 | €1,002 | -€3,056 | -75.3% |
| Gross operating margin | 9900 | €89,997 | €288,885 | +€198,887 | +221.0% |
| Operating profit (loss) | 9901 | €48,565 | €252,502 | +€203,937 | +419.9% |
| Financial income | 75/76B | €2,483 | €0 | -€2,483 | -100.0% |
| Recurring financial income | 75 | €2,483 | €0 | -€2,483 | -100.0% |
| Financial charges | 65/66B | €2,011 | €3,824 | +€1,813 | +90.2% |
| Recurring financial charges | 65 | €2,011 | €3,824 | +€1,813 | +90.2% |
| Profit (loss) for the period before taxes | 9903 | €49,037 | €248,678 | +€199,641 | +407.1% |
| Income taxes | 67/77 | €15,002 | €66,684 | +€51,681 | +344.5% |
| Profit (loss) for the period | 9904 | €34,035 | €181,994 | +€147,959 | +434.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,035 | €181,994 | +€147,959 | +434.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.