MIDOX: 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.
MIDOX
Largest movements
- Tangible fixed assets -€1.8m
down €1.8m (-92.3%), from €2.0m to €150,742
- Debts after one year -€2.0m
down €2.0m (-91.8%), from €2.2m to €180,475
of which Other amounts payable: -€2.0m
- Trade debts +€185,456
up €185,456 (+975.6%), from €19,009 to €204,465
- Other debts -€99,943
down €99,943 (-80.4%), from €124,240 to €24,297
- Reserves +€96,027
up €96,027 (+10.0%), from €959,458 to €1.1m
of which Distributable reserves: +€96,027
- Financial charges -€61,692
down €61,692 (-89.3%), from €69,107 to €7,415
- Taxes +€13,923
up €13,923 (+66.1%), from €21,058 to €34,981
- Other operating charges +€5,797
up €5,797 (+32.6%), from €17,803 to €23,600
- Gross operating margin -€5,306
down €5,306 (-3.1%), from €169,039 to €163,733
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 | €3,548,323 | €1,728,237 | -€1.8m | -51.3% |
| Fixed assets | 21/28 | €1,952,658 | €150,742 | -€1.8m | -92.3% |
| Tangible fixed assets | 22/27 | €1,952,658 | €150,742 | -€1.8m | -92.3% |
| Land and buildings | 22 | €1,952,658 | €150,742 | -€1.8m | -92.3% |
| Current assets | 29/58 | €1,595,665 | €1,577,495 | -€18,170 | -1.1% |
| Amounts receivable within one year | 40/41 | €25,063 | €1,609 | -€23,454 | -93.6% |
| Trade receivables | 40 | €23,602 | - | -€23,602 | |
| Other amounts receivable | 41 | €1,461 | €1,609 | +€148 | +10.1% |
| Current investments | 50/53 | €1,525,000 | €1,525,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €45,602 | €50,886 | +€5,284 | +11.6% |
| Total equity and liabilities | 10/49 | €3,548,323 | €1,728,237 | -€1.8m | -51.3% |
| Equity | 10/15 | €1,146,958 | €1,242,985 | +€96,027 | +8.4% |
| Contributions | 10/11 | €187,500 | €187,500 | = | 0.0% |
| Capital | 10 | €187,500 | €187,500 | = | 0.0% |
| Issued capital | 100 | €187,500 | €187,500 | = | 0.0% |
| Reserves | 13 | €959,458 | €1,055,485 | +€96,027 | +10.0% |
| Non-distributable reserves | 130/1 | €18,750 | €18,750 | = | 0.0% |
| Legal reserve | 130 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €940,708 | €1,036,735 | +€96,027 | +10.2% |
| Amounts payable | 17/49 | €2,401,365 | €485,252 | -€1.9m | -79.8% |
| Amounts payable after more than one year | 17 | €2,200,596 | €180,475 | -€2.0m | -91.8% |
| Financial debts | 170/4 | €147,790 | €127,669 | -€20,121 | -13.6% |
| Other amounts payable | 178/9 | €2,052,806 | €52,806 | -€2.0m | -97.4% |
| Amounts payable within one year | 42/48 | €198,769 | €304,777 | +€106,008 | +53.3% |
| Current portion of amounts payable after more than one year | 42 | €24,063 | €25,903 | +€1,840 | +7.6% |
| Trade debts | 44 | €19,009 | €204,465 | +€185,456 | +975.6% |
| Suppliers | 440/4 | €19,009 | €204,465 | +€185,456 | +975.6% |
| Taxes, remuneration and social security | 45 | €31,457 | €50,112 | +€18,655 | +59.3% |
| Taxes | 450/3 | €31,457 | €50,112 | +€18,655 | +59.3% |
| Other amounts payable | 47/48 | €124,240 | €24,297 | -€99,943 | -80.4% |
| Accrued charges and deferred income | 492/3 | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | - | €623 | +€623 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,916 | €1,916 | = | 0.0% |
| Other operating charges | 640/8 | €17,803 | €23,600 | +€5,797 | +32.6% |
| Gross operating margin | 9900 | €169,039 | €163,733 | -€5,306 | -3.1% |
| Operating profit (loss) | 9901 | €149,320 | €137,594 | -€11,726 | -7.9% |
| Financial income | 75/76B | - | €829 | +€829 | |
| Recurring financial income | 75 | - | €829 | +€829 | |
| Financial charges | 65/66B | €69,107 | €7,415 | -€61,692 | -89.3% |
| Recurring financial charges | 65 | €69,107 | €7,415 | -€61,692 | -89.3% |
| Profit (loss) for the period before taxes | 9903 | €80,213 | €131,008 | +€50,795 | +63.3% |
| Income taxes | 67/77 | €21,058 | €34,981 | +€13,923 | +66.1% |
| Profit (loss) for the period | 9904 | €59,155 | €96,027 | +€36,872 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,155 | €96,027 | +€36,872 | +62.3% |
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 8 October 2026 via checked.be.