MIDEL II: 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.
MIDEL II
Largest movements
- Receivables within one year -€434,801
down €434,801 (-28.3%), from €1.5m to €1.1m
of which Other amounts receivable: -€477,603
- Other debts -€467,311
down €467,311 (-46.6%), from €1.0m to €534,433
- Profit (loss) carried forward +€29,260
up €29,260 (+5.5%), from -€532,151 to -€502,892
- Trade debts -€21,432
down €21,432 (-83.9%), from €25,532 to €4,100
- Accrued charges and deferred income +€15,888
up €15,888 (+8,903%), from €178 to €16,067
- Financial charges -€160,324
down €160,324 (-64.6%), from €248,368 to €88,045
of which Non-recurring financial charges: -€219,312
- Financial income +€30,266
up €30,266 (+29.3%), from €103,185 to €133,451
- Turnover +€5,209
up €5,209, from €0 to €5,209
- Purchases and services +€3,099
up €3,099 (+17.9%), from €17,358 to €20,456
- Gross operating margin +€2,210
up €2,210 (+12.7%), from -€17,358 to -€15,148
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 | €1,572,993 | €1,129,398 | -€443,595 | -28.2% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,572,993 | €1,129,398 | -€443,595 | -28.2% |
| Amounts receivable within one year | 40/41 | €1,536,605 | €1,101,804 | -€434,801 | -28.3% |
| Trade receivables | 40 | €77,198 | €120,000 | +€42,802 | +55.4% |
| Other amounts receivable | 41 | €1,459,407 | €981,804 | -€477,603 | -32.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €30 | €35 | +€5 | +17.8% |
| Deferred charges and accrued income | 490/1 | €36,358 | €27,559 | -€8,799 | -24.2% |
| Total equity and liabilities | 10/49 | €1,572,993 | €1,129,398 | -€443,595 | -28.2% |
| Equity | 10/15 | €545,539 | €574,799 | +€29,260 | +5.4% |
| Contributions | 10/11 | €936,996 | €936,996 | = | 0.0% |
| Capital | 10 | €936,996 | €936,996 | = | 0.0% |
| Issued capital | 100 | €936,996 | €936,996 | = | 0.0% |
| Reserves | 13 | €140,694 | €140,694 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,700 | €8,700 | = | 0.0% |
| Legal reserve | 130 | €8,700 | €8,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,999 | €19,999 | = | 0.0% |
| Distributable reserves | 133 | €111,995 | €111,995 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€532,151 | -€502,892 | +€29,260 | +5.5% |
| Amounts payable | 17/49 | €1,027,454 | €554,599 | -€472,855 | -46.0% |
| Amounts payable within one year | 42/48 | €1,027,276 | €538,533 | -€488,743 | -47.6% |
| Trade debts | 44 | €25,532 | €4,100 | -€21,432 | -83.9% |
| Suppliers | 440/4 | €25,532 | €4,100 | -€21,432 | -83.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,001,744 | €534,433 | -€467,311 | -46.6% |
| Accrued charges and deferred income | 492/3 | €178 | €16,067 | +€15,888 | +8,903% |
| Turnover | 70 | €0 | €5,209 | +€5,209 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €17,358 | €20,456 | +€3,099 | +17.9% |
| Other operating charges | 640/8 | €3,069 | €998 | -€2,070 | -67.5% |
| Gross operating margin | 9900 | -€17,358 | -€15,148 | +€2,210 | +12.7% |
| Operating profit (loss) | 9901 | -€20,426 | -€16,146 | +€4,280 | +21.0% |
| Financial income | 75/76B | €103,185 | €133,451 | +€30,266 | +29.3% |
| Recurring financial income | 75 | €103,185 | €133,451 | +€30,266 | +29.3% |
| Financial charges | 65/66B | €248,368 | €88,045 | -€160,324 | -64.6% |
| Recurring financial charges | 65 | €29,056 | €88,045 | +€58,989 | +203% |
| Non-recurring financial charges | 66B | €219,312 | €0 | -€219,312 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€165,610 | €29,260 | +€194,870 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€165,610 | €29,260 | +€194,870 | |
| Profit (loss) for the period to be appropriated | 9905 | -€165,610 | €29,260 | +€194,870 |
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 22 October 2026 via checked.be.