MIDEM: 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.
MIDEM
Largest movements
- Cash -€3,066
down €3,066 (-42.9%), from €7,139 to €4,074
mainly Trade debts (-€14,269) and Other debts (-€7,700)
- Receivables within one year +€1,495
up €1,495 (+1.4%), from €108,839 to €110,334
of which Other amounts receivable: +€14,715
- Reserves +€15,000
up €15,000 (+26.1%), from €57,480 to €72,480
- Trade debts -€14,269
down €14,269 (-98.0%), from €14,562 to €293
- Other debts -€7,700
no longer reported in 2025 (was €7,700)
- Tax, wage and social debts +€3,756
up €3,756 (+18.4%), from €20,371 to €24,126
of which Remuneration and social security: +€3,820
- Gross operating margin +€4,079
up €4,079 (+25.9%), from €15,771 to €19,850
- Financial income -€1,973
down €1,973 (-26.7%), from €7,382 to €5,409
- Other operating charges -€1,127
down €1,127 (-39.1%), from €2,886 to €1,759
- Depreciation +€273
up €273 (+39.2%), from €696 to €969
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 | €118,458 | €115,945 | -€2,513 | -2.1% |
| Fixed assets | 21/28 | €2,015 | €1,046 | -€969 | -48.1% |
| Tangible fixed assets | 22/27 | €1,940 | €972 | -€969 | -49.9% |
| Furniture and vehicles | 24 | €1,940 | €972 | -€969 | -49.9% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €116,443 | €114,898 | -€1,544 | -1.3% |
| Amounts receivable within one year | 40/41 | €108,839 | €110,334 | +€1,495 | +1.4% |
| Trade receivables | 40 | €13,220 | - | -€13,220 | |
| Other amounts receivable | 41 | €95,619 | €110,334 | +€14,715 | +15.4% |
| Cash at bank and in hand | 54/58 | €7,139 | €4,074 | -€3,066 | -42.9% |
| Deferred charges and accrued income | 490/1 | €465 | €491 | +€26 | +5.6% |
| Total equity and liabilities | 10/49 | €118,458 | €115,945 | -€2,513 | -2.1% |
| Equity | 10/15 | €74,677 | €89,833 | +€15,156 | +20.3% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €57,480 | €72,480 | +€15,000 | +26.1% |
| Distributable reserves | 133 | €57,480 | €72,480 | +€15,000 | +26.1% |
| Profit (loss) carried forward | 14 | €4,789 | €4,945 | +€156 | +3.3% |
| Amounts payable | 17/49 | €43,781 | €26,112 | -€17,669 | -40.4% |
| Amounts payable within one year | 42/48 | €42,633 | €24,420 | -€18,213 | -42.7% |
| Trade debts | 44 | €14,562 | €293 | -€14,269 | -98.0% |
| Suppliers | 440/4 | €14,562 | €293 | -€14,269 | -98.0% |
| Taxes, remuneration and social security | 45 | €20,371 | €24,126 | +€3,756 | +18.4% |
| Taxes | 450/3 | €14,339 | €14,274 | -€65 | -0.4% |
| Remuneration and social security | 454/9 | €6,032 | €9,852 | +€3,820 | +63.3% |
| Other amounts payable | 47/48 | €7,700 | - | -€7,700 | |
| Accrued charges and deferred income | 492/3 | €1,148 | €1,692 | +€544 | +47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €696 | €969 | +€273 | +39.2% |
| Other operating charges | 640/8 | €2,886 | €1,759 | -€1,127 | -39.1% |
| Gross operating margin | 9900 | €15,771 | €19,850 | +€4,079 | +25.9% |
| Operating profit (loss) | 9901 | €12,189 | €17,122 | +€4,934 | +40.5% |
| Financial income | 75/76B | €7,382 | €5,409 | -€1,973 | -26.7% |
| Recurring financial income | 75 | €7,382 | €5,409 | -€1,973 | -26.7% |
| Financial charges | 65/66B | €445 | €272 | -€173 | -38.8% |
| Recurring financial charges | 65 | €445 | €272 | -€173 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €19,125 | €22,259 | +€3,133 | +16.4% |
| Income taxes | 67/77 | €7,059 | €7,103 | +€44 | +0.6% |
| Profit (loss) for the period | 9904 | €12,066 | €15,156 | +€3,090 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,066 | €15,156 | +€3,090 | +25.6% |
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 13 October 2026 via checked.be.