Midesti: 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.
Midesti
Largest movements
- Receivables within one year -€76,342
down €76,342 (-38.0%), from €200,859 to €124,517
of which Trade receivables: -€89,341
- Stocks and contracts +€22,123
up €22,123 (+33.8%), from €65,377 to €87,500
of which Stocks: +€14,500
- Tangible fixed assets +€13,627
up €13,627 (+33.3%), from €40,914 to €54,542
of which Plant, machinery and equipment: +€7,883
- Financial fixed assets +€8,250
up €8,250 (+375.0%), from €2,200 to €10,450
- Cash +€3,743
up €3,743 (+71.7%), from €5,219 to €8,961
mainly Receivables within one year (+€76,342) and Debts after one year (+€45,092)
- Trade debts -€99,526
down €99,526 (-42.0%), from €237,051 to €137,525
- Debts after one year +€45,092
new in 2025: €45,092
- Reserves +€15,615
up €15,615 (+97.2%), from €16,070 to €31,685
- Tax, wage and social debts +€11,064
up €11,064 (+180.6%), from €6,125 to €17,189
of which Taxes: +€7,103
- Current portion of long-term debt +€6,925
up €6,925 (+22.8%), from €30,326 to €37,251
- Staff costs +€16,226
new in 2025: €16,226
- Gross operating margin +€11,549
up €11,549 (+23.2%), from €49,688 to €61,237
- Depreciation +€4,649
up €4,649 (+36.9%), from €12,584 to €17,233
- Financial charges -€3,311
down €3,311 (-48.9%), from €6,771 to €3,461
- Taxes +€2,909
up €2,909 (+47.5%), from €6,125 to €9,034
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 | €318,584 | €291,010 | -€27,574 | -8.7% |
| Fixed assets | 21/28 | €46,501 | €67,373 | +€20,872 | +44.9% |
| Intangible fixed assets | 21 | €3,387 | €2,382 | -€1,005 | -29.7% |
| Tangible fixed assets | 22/27 | €40,914 | €54,542 | +€13,627 | +33.3% |
| Plant, machinery and equipment | 23 | €10,473 | €18,356 | +€7,883 | +75.3% |
| Furniture and vehicles | 24 | €30,441 | €36,186 | +€5,745 | +18.9% |
| Financial fixed assets | 28 | €2,200 | €10,450 | +€8,250 | +375.0% |
| Current assets | 29/58 | €272,083 | €223,637 | -€48,446 | -17.8% |
| Stocks and contracts in progress | 3 | €65,377 | €87,500 | +€22,123 | +33.8% |
| Stocks | 30/36 | €25,000 | €39,500 | +€14,500 | +58.0% |
| Contracts in progress | 37 | €40,377 | €48,000 | +€7,623 | +18.9% |
| Amounts receivable within one year | 40/41 | €200,859 | €124,517 | -€76,342 | -38.0% |
| Trade receivables | 40 | €177,262 | €87,921 | -€89,341 | -50.4% |
| Other amounts receivable | 41 | €23,598 | €36,596 | +€12,999 | +55.1% |
| Cash at bank and in hand | 54/58 | €5,219 | €8,961 | +€3,743 | +71.7% |
| Deferred charges and accrued income | 490/1 | €628 | €2,658 | +€2,030 | +323.3% |
| Total equity and liabilities | 10/49 | €318,584 | €291,010 | -€27,574 | -8.7% |
| Equity | 10/15 | €27,070 | €42,685 | +€15,615 | +57.7% |
| Contributions | 10/11 | €11,000 | €11,000 | = | 0.0% |
| Reserves | 13 | €16,070 | €31,685 | +€15,615 | +97.2% |
| Distributable reserves | 133 | €16,070 | €31,685 | +€15,615 | +97.2% |
| Amounts payable | 17/49 | €291,514 | €248,325 | -€43,189 | -14.8% |
| Amounts payable after more than one year | 17 | - | €45,092 | +€45,092 | |
| Financial debts | 170/4 | - | €45,092 | +€45,092 | |
| Amounts payable within one year | 42/48 | €290,966 | €203,233 | -€87,734 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €30,326 | €37,251 | +€6,925 | +22.8% |
| Trade debts | 44 | €237,051 | €137,525 | -€99,526 | -42.0% |
| Suppliers | 440/4 | €237,051 | €137,525 | -€99,526 | -42.0% |
| Advances received on contracts in progress | 46 | €17,465 | €11,268 | -€6,197 | -35.5% |
| Taxes, remuneration and social security | 45 | €6,125 | €17,189 | +€11,064 | +180.6% |
| Taxes | 450/3 | €6,125 | €13,227 | +€7,103 | +116.0% |
| Remuneration and social security | 454/9 | - | €3,961 | +€3,961 | |
| Accrued charges and deferred income | 492/3 | €548 | - | -€548 | |
| Remuneration, social security and pensions | 62 | - | €16,226 | +€16,226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,584 | €17,233 | +€4,649 | +36.9% |
| Other operating charges | 640/8 | €3,634 | €1,107 | -€2,527 | -69.5% |
| Gross operating margin | 9900 | €49,688 | €61,237 | +€11,549 | +23.2% |
| Operating profit (loss) | 9901 | €33,470 | €26,671 | -€6,799 | -20.3% |
| Financial income | 75/76B | €1,085 | €1,438 | +€353 | +32.5% |
| Recurring financial income | 75 | €1,085 | €1,438 | +€353 | +32.5% |
| Financial charges | 65/66B | €6,771 | €3,461 | -€3,311 | -48.9% |
| Recurring financial charges | 65 | €6,771 | €3,461 | -€3,311 | -48.9% |
| Profit (loss) for the period before taxes | 9903 | €27,783 | €24,648 | -€3,135 | -11.3% |
| Income taxes | 67/77 | €6,125 | €9,034 | +€2,909 | +47.5% |
| Profit (loss) for the period | 9904 | €21,659 | €15,615 | -€6,044 | -27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,659 | €15,615 | -€6,044 | -27.9% |
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 11 October 2026 via checked.be.