Midema: 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.
Midema
Largest movements
- Cash -€91,846
down €91,846 (-53.2%), from €172,658 to €80,811
mainly Contributions, distributions and other (-€209,244) and Investment in fixed assets (net) (-€99,174)
- Tangible fixed assets +€86,257
up €86,257 (+354.5%), from €24,333 to €110,590
of which Leasing and similar rights: +€88,500
- Current investments +€25,679
up €25,679 (+68.4%), from €37,531 to €63,210
- Receivables within one year +€8,987
up €8,987 (+10.1%), from €88,693 to €97,680
of which Trade receivables: +€10,542
- Deferred charges and accrued income +€4,735
up €4,735 (+340.7%), from €1,390 to €6,124
- Debts after one year +€54,903
up €54,903 (+1320.4%), from €4,158 to €59,061
- Other debts -€38,388
down €38,388 (-15.4%), from €250,000 to €211,612
- Current portion of long-term debt +€9,488
up €9,488 (+105.5%), from €8,998 to €18,486
- Trade debts +€4,759
up €4,759 (+213.1%), from €2,233 to €6,992
- Gross operating margin +€115,559
up €115,559 (+61.1%), from €189,109 to €304,667
- Taxes +€31,754
up €31,754 (+75.8%), from €41,880 to €73,634
- Other operating charges +€5,763
up €5,763 (+188.3%), from €3,061 to €8,824
- Depreciation +€3,272
up €3,272 (+33.9%), from €9,645 to €12,917
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 | €324,605 | €358,416 | +€33,811 | +10.4% |
| Fixed assets | 21/28 | €24,333 | €110,590 | +€86,257 | +354.5% |
| Tangible fixed assets | 22/27 | €24,333 | €110,590 | +€86,257 | +354.5% |
| Plant, machinery and equipment | 23 | €1,784 | €782 | -€1,002 | -56.1% |
| Furniture and vehicles | 24 | €4,132 | €2,890 | -€1,242 | -30.1% |
| Leasing and similar rights | 25 | €18,417 | €106,918 | +€88,500 | +480.5% |
| Current assets | 29/58 | €300,272 | €247,826 | -€52,446 | -17.5% |
| Amounts receivable within one year | 40/41 | €88,693 | €97,680 | +€8,987 | +10.1% |
| Trade receivables | 40 | €87,138 | €97,680 | +€10,542 | +12.1% |
| Other amounts receivable | 41 | €1,555 | €0 | -€1,555 | -100.0% |
| Current investments | 50/53 | €37,531 | €63,210 | +€25,679 | +68.4% |
| Cash at bank and in hand | 54/58 | €172,658 | €80,811 | -€91,846 | -53.2% |
| Deferred charges and accrued income | 490/1 | €1,390 | €6,124 | +€4,735 | +340.7% |
| Total equity and liabilities | 10/49 | €324,605 | €358,416 | +€33,811 | +10.4% |
| Equity | 10/15 | €29,370 | €29,370 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €25,370 | €25,370 | = | 0.0% |
| Distributable reserves | 133 | €25,370 | €25,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €295,235 | €329,046 | +€33,811 | +11.5% |
| Amounts payable after more than one year | 17 | €4,158 | €59,061 | +€54,903 | +1320.4% |
| Financial debts | 170/4 | €4,158 | €59,061 | +€54,903 | +1320.4% |
| Amounts payable within one year | 42/48 | €291,077 | €269,985 | -€21,092 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €8,998 | €18,486 | +€9,488 | +105.5% |
| Trade debts | 44 | €2,233 | €6,992 | +€4,759 | +213.1% |
| Suppliers | 440/4 | €2,233 | €6,992 | +€4,759 | +213.1% |
| Taxes, remuneration and social security | 45 | €29,846 | €32,895 | +€3,049 | +10.2% |
| Taxes | 450/3 | €29,846 | €32,895 | +€3,049 | +10.2% |
| Other amounts payable | 47/48 | €250,000 | €211,612 | -€38,388 | -15.4% |
| Remuneration, social security and pensions | 62 | €602 | €621 | +€19 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,645 | €12,917 | +€3,272 | +33.9% |
| Other operating charges | 640/8 | €3,061 | €8,824 | +€5,763 | +188.3% |
| Gross operating margin | 9900 | €189,109 | €304,667 | +€115,559 | +61.1% |
| Operating profit (loss) | 9901 | €175,801 | €282,305 | +€106,504 | +60.6% |
| Financial income | 75/76B | €159 | €1,951 | +€1,792 | +1130.2% |
| Recurring financial income | 75 | €159 | €1,951 | +€1,792 | +1130.2% |
| Financial charges | 65/66B | €949 | €1,378 | +€429 | +45.2% |
| Recurring financial charges | 65 | €949 | €1,378 | +€429 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €175,011 | €282,878 | +€107,867 | +61.6% |
| Income taxes | 67/77 | €41,880 | €73,634 | +€31,754 | +75.8% |
| Profit (loss) for the period | 9904 | €133,131 | €209,244 | +€76,113 | +57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €133,131 | €209,244 | +€76,113 | +57.2% |
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 6 October 2026 via checked.be.