MIDARMS: 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.
What changed
MIDARMS
NACE 47.631, Retail trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€723,057
2024 · €712,423+€10,634
Equity
€4.9m
2024 · €4.1m+€723,057
Cash
€1.2m
2024 · €1.3m-€109,082
Balance sheet total
€6.0m
2024 · €5.3m+€684,684
Largest movements
Assets
- Current investments +€700,000
up €700,000 (+87.5%), from €800,000 to €1.5m
- Stocks and contracts +€122,327
up €122,327 (+5.3%), from €2.3m to €2.4m
- Cash -€109,082
down €109,082 (-8.5%), from €1.3m to €1.2m
mainly Current investments (-€700,000) and Stocks and contracts (-€122,327)
Equity and liabilities
- Reserves +€450,000
up €450,000 (+13.6%), from €3.3m to €3.8m
of which Distributable reserves: +€450,000
- Profit (loss) carried forward +€273,057
up €273,057 (+38.2%), from €714,347 to €987,405
Income statement
No income-statement line moved by more than 1% of the activity.
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
€712,423
Gross operating margin
-€13,408
Staff costs
-€8,882
Depreciation
+€10,945
Write-downs
+€7,485
Other operating charges
+€465
Financial income
+€11,194
Financial charges
+€4,949
Taxes
-€2,112
Result 2025
€723,057
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
+€649,201
Investment
-€725,811
Financing
-€32,472
Cash 2024
€1.3m
From operations (derived)
+€649,201
Net result for the year
+€723,057
Depreciation
+€71,711
Stocks and contracts
-€122,327
Receivables within one year
-€17,937
Smaller working-capital items
+€1,198
Trade debts
-€3,986
Tax, wage and social debts
-€2,516
Investment (derived)
-€725,811
Investment in fixed assets (net)
-€25,811
Current investments
-€700,000
Financing
-€32,472
Debts after one year
-€32,472
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,348,928 | €6,033,613 | +€684,684 | +12.8% |
| Fixed assets | 21/28 | €338,018 | €292,118 | -€45,901 | -13.6% |
| Intangible fixed assets | 21 | - | €4,129 | +€4,129 | |
| Tangible fixed assets | 22/27 | €338,018 | €287,989 | -€50,029 | -14.8% |
| Land and buildings | 22 | €152,461 | €143,932 | -€8,529 | -5.6% |
| Plant, machinery and equipment | 23 | €4,311 | €8,138 | +€3,826 | +88.8% |
| Furniture and vehicles | 24 | €91,688 | €50,215 | -€41,473 | -45.2% |
| Other tangible fixed assets | 26 | €89,558 | €85,705 | -€3,854 | -4.3% |
| Current assets | 29/58 | €5,010,910 | €5,741,495 | +€730,585 | +14.6% |
| Stocks and contracts in progress | 3 | €2,320,643 | €2,442,971 | +€122,327 | +5.3% |
| Stocks | 30/36 | €2,320,643 | €2,442,971 | +€122,327 | +5.3% |
| Amounts receivable within one year | 40/41 | €599,284 | €617,221 | +€17,937 | +3.0% |
| Trade receivables | 40 | €555,406 | €611,767 | +€56,361 | +10.1% |
| Other amounts receivable | 41 | €43,878 | €5,454 | -€38,424 | -87.6% |
| Current investments | 50/53 | €800,000 | €1,500,000 | +€700,000 | +87.5% |
| Cash at bank and in hand | 54/58 | €1,279,092 | €1,170,011 | -€109,082 | -8.5% |
| Deferred charges and accrued income | 490/1 | €11,891 | €11,293 | -€598 | -5.0% |
| Total equity and liabilities | 10/49 | €5,348,928 | €6,033,613 | +€684,684 | +12.8% |
| Equity | 10/15 | €4,145,072 | €4,868,129 | +€723,057 | +17.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €3,305,724 | €3,755,724 | +€450,000 | +13.6% |
| Tax-exempt reserves | 132 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €3,304,224 | €3,754,224 | +€450,000 | +13.6% |
| Profit (loss) carried forward | 14 | €714,347 | €987,405 | +€273,057 | +38.2% |
| Amounts payable | 17/49 | €1,203,857 | €1,165,484 | -€38,373 | -3.2% |
| Amounts payable after more than one year | 17 | €1,065,267 | €1,032,795 | -€32,472 | -3.0% |
| Other amounts payable | 178/9 | €1,065,267 | €1,032,795 | -€32,472 | -3.0% |
| Amounts payable within one year | 42/48 | €138,590 | €132,689 | -€5,901 | -4.3% |
| Trade debts | 44 | €14,913 | €10,927 | -€3,986 | -26.7% |
| Suppliers | 440/4 | €14,913 | €10,927 | -€3,986 | -26.7% |
| Taxes, remuneration and social security | 45 | €119,219 | €116,703 | -€2,516 | -2.1% |
| Taxes | 450/3 | €79,656 | €72,863 | -€6,792 | -8.5% |
| Remuneration and social security | 454/9 | €39,563 | €43,840 | +€4,277 | +10.8% |
| Other amounts payable | 47/48 | €4,458 | €5,059 | +€601 | +13.5% |
| Remuneration, social security and pensions | 62 | €361,311 | €370,193 | +€8,882 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,656 | €71,711 | -€10,945 | -13.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€224 | -€7,708 | -€7,485 | -3348.3% |
| Other operating charges | 640/8 | €16,459 | €15,995 | -€465 | -2.8% |
| Gross operating margin | 9900 | €1,475,562 | €1,462,154 | -€13,408 | -0.9% |
| Operating profit (loss) | 9901 | €1,015,360 | €1,011,964 | -€3,396 | -0.3% |
| Financial income | 75/76B | €10,023 | €21,216 | +€11,194 | +111.7% |
| Recurring financial income | 75 | €10,023 | €21,216 | +€11,194 | +111.7% |
| Financial charges | 65/66B | €15,594 | €10,645 | -€4,949 | -31.7% |
| Recurring financial charges | 65 | €15,594 | €10,645 | -€4,949 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €1,009,789 | €1,022,535 | +€12,746 | +1.3% |
| Income taxes | 67/77 | €297,366 | €299,478 | +€2,112 | +0.7% |
| Profit (loss) for the period | 9904 | €712,423 | €723,057 | +€10,634 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €712,423 | €723,057 | +€10,634 | +1.5% |
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 4 October 2026 via checked.be.