MIDZONE: 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.
MIDZONE
Largest movements
- Tangible fixed assets +€46,557
up €46,557 (+612%), from €7,606 to €54,163
of which Plant, machinery and equipment: +€28,286
- Receivables within one year -€15,448
down €15,448 (-51.2%), from €30,158 to €14,710
of which Other amounts receivable: -€12,304
- Cash -€13,194
down €13,194 (-37.2%), from €35,514 to €22,320
mainly Investment in fixed assets (net) (-€52,500) and Stocks and contracts (-€8,260)
- Stocks and contracts +€8,260
up €8,260 (+8.0%), from €103,600 to €111,860
- Reserves +€18,915
up €18,915 (+45.9%), from €41,245 to €60,160
- Other debts +€12,358
up €12,358, from €0 to €12,358
- Tax, wage and social debts -€2,768
down €2,768 (-35.5%), from €7,804 to €5,036
- Trade debts -€2,040
down €2,040 (-7.3%), from €27,828 to €25,788
- Gross operating margin -€9,791
down €9,791 (-24.7%), from €39,639 to €29,848
- Depreciation +€5,842
up €5,842 (+5,775%), from €101 to €5,943
- Taxes -€3,062
down €3,062 (-39.2%), from €7,804 to €4,742
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 | €176,878 | €203,342 | +€26,465 | +15.0% |
| Fixed assets | 21/28 | €7,606 | €54,163 | +€46,557 | +612% |
| Tangible fixed assets | 22/27 | €7,606 | €54,163 | +€46,557 | +612% |
| Land and buildings | 22 | €4,805 | €3,843 | -€962 | -20.0% |
| Plant, machinery and equipment | 23 | €2,801 | €31,087 | +€28,286 | +1,010% |
| Furniture and vehicles | 24 | - | €19,233 | +€19,233 | |
| Current assets | 29/58 | €169,271 | €149,179 | -€20,093 | -11.9% |
| Stocks and contracts in progress | 3 | €103,600 | €111,860 | +€8,260 | +8.0% |
| Stocks | 30/36 | €103,600 | €111,860 | +€8,260 | +8.0% |
| Amounts receivable within one year | 40/41 | €30,158 | €14,710 | -€15,448 | -51.2% |
| Trade receivables | 40 | €3,154 | €10 | -€3,144 | -99.7% |
| Other amounts receivable | 41 | €27,004 | €14,700 | -€12,304 | -45.6% |
| Cash at bank and in hand | 54/58 | €35,514 | €22,320 | -€13,194 | -37.2% |
| Deferred charges and accrued income | 490/1 | - | €289 | +€289 | |
| Total equity and liabilities | 10/49 | €176,878 | €203,342 | +€26,465 | +15.0% |
| Equity | 10/15 | €141,245 | €160,160 | +€18,915 | +13.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €41,245 | €60,160 | +€18,915 | +45.9% |
| Distributable reserves | 133 | €41,245 | €60,160 | +€18,915 | +45.9% |
| Amounts payable | 17/49 | €35,632 | €43,182 | +€7,550 | +21.2% |
| Amounts payable within one year | 42/48 | €35,632 | €43,182 | +€7,550 | +21.2% |
| Trade debts | 44 | €27,828 | €25,788 | -€2,040 | -7.3% |
| Suppliers | 440/4 | €27,828 | €25,788 | -€2,040 | -7.3% |
| Taxes, remuneration and social security | 45 | €7,804 | €5,036 | -€2,768 | -35.5% |
| Taxes | 450/3 | €7,804 | €5,036 | -€2,768 | -35.5% |
| Other amounts payable | 47/48 | €0 | €12,358 | +€12,358 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101 | €5,943 | +€5,842 | +5,775% |
| Other operating charges | 640/8 | €449 | €208 | -€241 | -53.6% |
| Gross operating margin | 9900 | €39,639 | €29,848 | -€9,791 | -24.7% |
| Operating profit (loss) | 9901 | €39,089 | €23,697 | -€15,392 | -39.4% |
| Financial charges | 65/66B | €69 | €40 | -€28 | -41.0% |
| Recurring financial charges | 65 | €69 | €40 | -€28 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €39,020 | €23,657 | -€15,364 | -39.4% |
| Income taxes | 67/77 | €7,804 | €4,742 | -€3,062 | -39.2% |
| Profit (loss) for the period | 9904 | €31,216 | €18,915 | -€12,302 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,216 | €18,915 | -€12,302 | -39.4% |
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 15 October 2026 via checked.be.