Midwest Finance: 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.
Midwest Finance
Largest movements
- Deferred charges and accrued income +€285,711
up €285,711 (+176%), from €162,656 to €448,367
- Intangible fixed assets -€162,237
down €162,237 (-11.7%), from €1.4m to €1.2m
- Receivables within one year +€83,250
up €83,250 (+32.8%), from €254,042 to €337,292
of which Trade receivables: +€65,373
- Tangible fixed assets +€81,713
up €81,713 (+202%), from €40,372 to €122,085
of which Furniture and vehicles: +€76,368
- Other debts +€343,596
up €343,596 (+169%), from €203,310 to €546,906
- Trade debts +€150,895
up €150,895 (+136%), from €111,099 to €261,994
- Debts after one year -€118,648
down €118,648 (-13.0%), from €911,163 to €792,515
- Tax, wage and social debts -€46,400
down €46,400 (-33.4%), from €139,069 to €92,670
of which Taxes: -€52,858
- Short-term financial debts -€42,408
down €42,408 (-78.9%), from €53,738 to €11,330
- Gross operating margin +€428,775
up €428,775 (+45.0%), from €953,507 to €1.4m
- Taxes +€93,875
up €93,875 (+123%), from €76,472 to €170,347
- Staff costs +€56,170
up €56,170 (+12.2%), from €461,627 to €517,796
- Other operating charges -€16,121
down €16,121 (-90.7%), from €17,775 to €1,654
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 | €1,838,496 | €2,129,773 | +€291,276 | +15.8% |
| Fixed assets | 21/28 | €1,421,798 | €1,341,274 | -€80,524 | -5.7% |
| Intangible fixed assets | 21 | €1,381,315 | €1,219,078 | -€162,237 | -11.7% |
| Tangible fixed assets | 22/27 | €40,372 | €122,085 | +€81,713 | +202% |
| Plant, machinery and equipment | 23 | €1,307 | €575 | -€733 | -56.0% |
| Furniture and vehicles | 24 | €39,064 | €115,433 | +€76,368 | +195% |
| Other tangible fixed assets | 26 | - | €6,077 | +€6,077 | |
| Financial fixed assets | 28 | €111 | €111 | = | 0.0% |
| Current assets | 29/58 | €416,698 | €788,499 | +€371,800 | +89.2% |
| Amounts receivable within one year | 40/41 | €254,042 | €337,292 | +€83,250 | +32.8% |
| Trade receivables | 40 | €249,717 | €315,090 | +€65,373 | +26.2% |
| Other amounts receivable | 41 | €4,325 | €22,201 | +€17,876 | +413% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €0 | €2,839 | +€2,839 | |
| Deferred charges and accrued income | 490/1 | €162,656 | €448,367 | +€285,711 | +176% |
| Total equity and liabilities | 10/49 | €1,838,496 | €2,129,773 | +€291,276 | +15.8% |
| Equity | 10/15 | €216,629 | €220,074 | +€3,445 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €198,029 | €201,474 | +€3,445 | +1.7% |
| Distributable reserves | 133 | €198,029 | €201,474 | +€3,445 | +1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,621,867 | €1,909,699 | +€287,832 | +17.7% |
| Amounts payable after more than one year | 17 | €911,163 | €792,515 | -€118,648 | -13.0% |
| Financial debts | 170/4 | €911,163 | €792,515 | -€118,648 | -13.0% |
| Amounts payable within one year | 42/48 | €689,965 | €1,113,276 | +€423,312 | +61.4% |
| Current portion of amounts payable after more than one year | 42 | €182,748 | €200,377 | +€17,629 | +9.6% |
| Financial debts | 43 | €53,738 | €11,330 | -€42,408 | -78.9% |
| Credit institutions | 430/8 | €53,738 | €11,330 | -€42,408 | -78.9% |
| Trade debts | 44 | €111,099 | €261,994 | +€150,895 | +136% |
| Suppliers | 440/4 | €111,099 | €261,994 | +€150,895 | +136% |
| Taxes, remuneration and social security | 45 | €139,069 | €92,670 | -€46,400 | -33.4% |
| Taxes | 450/3 | €57,716 | €4,858 | -€52,858 | -91.6% |
| Remuneration and social security | 454/9 | €81,353 | €87,812 | +€6,459 | +7.9% |
| Other amounts payable | 47/48 | €203,310 | €546,906 | +€343,596 | +169% |
| Accrued charges and deferred income | 492/3 | €20,740 | €3,908 | -€16,832 | -81.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €461,627 | €517,796 | +€56,170 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,163 | €175,427 | +€7,264 | +4.3% |
| Other operating charges | 640/8 | €17,775 | €1,654 | -€16,121 | -90.7% |
| Gross operating margin | 9900 | €953,507 | €1,382,282 | +€428,775 | +45.0% |
| Operating profit (loss) | 9901 | €305,942 | €687,405 | +€381,462 | +125% |
| Financial income | 75/76B | €14,595 | €2,150 | -€12,445 | -85.3% |
| Recurring financial income | 75 | €14,595 | €2,150 | -€12,445 | -85.3% |
| Financial charges | 65/66B | €38,901 | €35,764 | -€3,138 | -8.1% |
| Recurring financial charges | 65 | €38,901 | €35,764 | -€3,138 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €281,636 | €653,791 | +€372,155 | +132% |
| Income taxes | 67/77 | €76,472 | €170,347 | +€93,875 | +123% |
| Profit (loss) for the period | 9904 | €205,164 | €483,445 | +€278,281 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €205,164 | €483,445 | +€278,281 | +136% |
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 31 October 2026 via checked.be.