MIE 2 PAINS: 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.
MIE 2 PAINS
Largest movements
- Tangible fixed assets -€77,632
down €77,632 (-10.8%), from €717,344 to €639,711
of which Plant, machinery and equipment: -€39,472
- Debts after one year -€80,235
down €80,235 (-12.1%), from €662,351 to €582,116
- Profit (loss) carried forward -€39,589
down €39,589 (-28.1%), from -€140,865 to -€180,454
- Short-term financial debts +€19,160
new in 2025: €19,160
- Current portion of long-term debt +€7,516
up €7,516 (+8.4%), from €89,687 to €97,203
- Gross operating margin -€93,456
down €93,456 (-57.0%), from €163,856 to €70,401
- Staff costs -€26,041
down €26,041 (-95.4%), from €27,300 to €1,258
- Other operating charges +€11,737
up €11,737 (+123%), from €9,568 to €21,305
- Financial charges -€3,616
down €3,616 (-18.9%), from €19,162 to €15,545
- Depreciation -€2,705
down €2,705 (-3.4%), from €80,337 to €77,632
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 | €748,347 | €656,906 | -€91,441 | -12.2% |
| Fixed assets | 21/28 | €717,344 | €639,711 | -€77,632 | -10.8% |
| Tangible fixed assets | 22/27 | €717,344 | €639,711 | -€77,632 | -10.8% |
| Land and buildings | 22 | €550,367 | €513,775 | -€36,591 | -6.6% |
| Plant, machinery and equipment | 23 | €165,338 | €125,866 | -€39,472 | -23.9% |
| Furniture and vehicles | 24 | €1,640 | €70 | -€1,570 | -95.7% |
| Current assets | 29/58 | €31,003 | €17,195 | -€13,809 | -44.5% |
| Stocks and contracts in progress | 3 | €1,500 | - | -€1,500 | |
| Stocks | 30/36 | €1,500 | - | -€1,500 | |
| Amounts receivable within one year | 40/41 | €23,555 | €16,810 | -€6,745 | -28.6% |
| Trade receivables | 40 | €18,351 | €6,318 | -€12,033 | -65.6% |
| Other amounts receivable | 41 | €5,204 | €10,492 | +€5,288 | +102% |
| Cash at bank and in hand | 54/58 | €5,653 | €0 | -€5,653 | -100% |
| Deferred charges and accrued income | 490/1 | €295 | €385 | +€90 | +30.4% |
| Total equity and liabilities | 10/49 | €748,347 | €656,906 | -€91,441 | -12.2% |
| Equity | 10/15 | -€43,400 | -€88,558 | -€45,158 | -104% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,865 | -€180,454 | -€39,589 | -28.1% |
| Investment grants | 15 | €37,465 | €31,896 | -€5,569 | -14.9% |
| Amounts payable | 17/49 | €791,747 | €745,464 | -€46,283 | -5.8% |
| Amounts payable after more than one year | 17 | €662,351 | €582,116 | -€80,235 | -12.1% |
| Financial debts | 170/4 | €662,351 | €582,116 | -€80,235 | -12.1% |
| Amounts payable within one year | 42/48 | €126,798 | €161,473 | +€34,675 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €89,687 | €97,203 | +€7,516 | +8.4% |
| Financial debts | 43 | - | €19,160 | +€19,160 | |
| Credit institutions | 430/8 | - | €19,160 | +€19,160 | |
| Trade debts | 44 | €35,383 | €38,613 | +€3,230 | +9.1% |
| Suppliers | 440/4 | €35,175 | €38,613 | +€3,438 | +9.8% |
| Bills of exchange payable | 441 | €208 | - | -€208 | |
| Taxes, remuneration and social security | 45 | €1,728 | €6,497 | +€4,769 | +276% |
| Taxes | 450/3 | €385 | €6,497 | +€6,112 | +1,587% |
| Remuneration and social security | 454/9 | €1,343 | - | -€1,343 | |
| Accrued charges and deferred income | 492/3 | €2,598 | €1,875 | -€723 | -27.8% |
| Remuneration, social security and pensions | 62 | €27,300 | €1,258 | -€26,041 | -95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,337 | €77,632 | -€2,705 | -3.4% |
| Other operating charges | 640/8 | €9,568 | €21,305 | +€11,737 | +123% |
| Gross operating margin | 9900 | €163,856 | €70,401 | -€93,456 | -57.0% |
| Operating profit (loss) | 9901 | €46,652 | -€29,795 | -€76,447 | |
| Financial income | 75/76B | €5,636 | €5,953 | +€318 | +5.6% |
| Recurring financial income | 75 | €5,636 | €5,953 | +€318 | +5.6% |
| Financial charges | 65/66B | €19,162 | €15,545 | -€3,616 | -18.9% |
| Recurring financial charges | 65 | €19,162 | €15,545 | -€3,616 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €33,126 | -€39,387 | -€72,512 | |
| Income taxes | 67/77 | €195 | €203 | +€8 | +4.1% |
| Profit (loss) for the period | 9904 | €32,931 | -€39,589 | -€72,520 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,931 | -€39,589 | -€72,520 |
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 28 October 2026 via checked.be.