Miedevia: 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.
Miedevia
Largest movements
- Stocks and contracts +€276,470
up €276,470 (+18.2%), from €1.5m to €1.8m
- Tangible fixed assets +€175,936
up €175,936 (+5.8%), from €3.0m to €3.2m
of which Plant, machinery and equipment: +€179,775
- Short-term financial debts +€325,000
up €325,000 (+71.4%), from €455,000 to €780,000
of which Credit institutions: +€300,000
- Reserves +€273,759
up €273,759 (+11.3%), from €2.4m to €2.7m
of which Distributable reserves: +€273,759
- Trade debts +€240,078
up €240,078 (+40.8%), from €587,836 to €827,914
- Other debts -€192,852
down €192,852 (-17.5%), from €1.1m to €909,311
- Tax, wage and social debts -€167,568
down €167,568 (-100%), from €167,568 to €0
of which Taxes: -€167,568
- Gross operating margin +€293,688
up €293,688 (+42.5%), from €691,491 to €985,179
- Depreciation +€89,826
up €89,826 (+18.6%), from €482,471 to €572,297
- Financial charges +€29,239
up €29,239 (+35.3%), from €82,877 to €112,117
- Staff costs +€12,693
up €12,693 (+526%), from €2,415 to €15,107
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 | €8,047,736 | €8,446,759 | +€399,023 | +5.0% |
| Fixed assets | 21/28 | €6,024,777 | €6,199,260 | +€174,483 | +2.9% |
| Intangible fixed assets | 21 | €4,335 | €2,882 | -€1,453 | -33.5% |
| Tangible fixed assets | 22/27 | €3,015,774 | €3,191,709 | +€175,936 | +5.8% |
| Land and buildings | 22 | €1,623,966 | €1,662,269 | +€38,303 | +2.4% |
| Plant, machinery and equipment | 23 | €1,110,639 | €1,290,414 | +€179,775 | +16.2% |
| Furniture and vehicles | 24 | €278,936 | €179,110 | -€99,826 | -35.8% |
| Other tangible fixed assets | 26 | €2,233 | €59,916 | +€57,683 | +2,583% |
| Financial fixed assets | 28 | €3,004,669 | €3,004,669 | = | 0.0% |
| Current assets | 29/58 | €2,022,959 | €2,247,499 | +€224,540 | +11.1% |
| Stocks and contracts in progress | 3 | €1,521,030 | €1,797,500 | +€276,470 | +18.2% |
| Stocks | 30/36 | €1,521,030 | €1,797,500 | +€276,470 | +18.2% |
| Amounts receivable within one year | 40/41 | €471,782 | €411,767 | -€60,015 | -12.7% |
| Trade receivables | 40 | €454,967 | €344,639 | -€110,328 | -24.2% |
| Other amounts receivable | 41 | €16,814 | €67,128 | +€50,314 | +299% |
| Current investments | 50/53 | €806 | €806 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,938 | €20,106 | +€11,168 | +125% |
| Deferred charges and accrued income | 490/1 | €20,403 | €17,320 | -€3,084 | -15.1% |
| Total equity and liabilities | 10/49 | €8,047,736 | €8,446,759 | +€399,023 | +5.0% |
| Equity | 10/15 | €2,433,058 | €2,706,817 | +€273,759 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,414,458 | €2,688,217 | +€273,759 | +11.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,975 | €12,975 | = | 0.0% |
| Distributable reserves | 133 | €2,399,623 | €2,673,382 | +€273,759 | +11.4% |
| Amounts payable | 17/49 | €5,614,679 | €5,739,942 | +€125,263 | +2.2% |
| Amounts payable after more than one year | 17 | €2,715,071 | €2,619,963 | -€95,108 | -3.5% |
| Financial debts | 170/4 | €2,715,071 | €2,619,963 | -€95,108 | -3.5% |
| Amounts payable within one year | 42/48 | €2,885,475 | €3,112,921 | +€227,446 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €572,908 | €595,696 | +€22,788 | +4.0% |
| Financial debts | 43 | €455,000 | €780,000 | +€325,000 | +71.4% |
| Credit institutions | 430/8 | €455,000 | €755,000 | +€300,000 | +65.9% |
| Other loans | 439 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €587,836 | €827,914 | +€240,078 | +40.8% |
| Suppliers | 440/4 | €587,836 | €827,914 | +€240,078 | +40.8% |
| Taxes, remuneration and social security | 45 | €167,568 | €0 | -€167,568 | -100% |
| Taxes | 450/3 | €167,568 | €0 | -€167,568 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,102,163 | €909,311 | -€192,852 | -17.5% |
| Accrued charges and deferred income | 492/3 | €14,133 | €7,058 | -€7,075 | -50.1% |
| Non-recurring operating income | 76A | €45,000 | €0 | -€45,000 | -100% |
| Remuneration, social security and pensions | 62 | €2,415 | €15,107 | +€12,693 | +526% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €482,471 | €572,297 | +€89,826 | +18.6% |
| Other operating charges | 640/8 | €13,471 | €6,757 | -€6,714 | -49.8% |
| Gross operating margin | 9900 | €691,491 | €985,179 | +€293,688 | +42.5% |
| Operating profit (loss) | 9901 | €193,134 | €391,018 | +€197,884 | +102% |
| Financial income | 75/76B | €3,275 | €220 | -€3,056 | -93.3% |
| Recurring financial income | 75 | €3,275 | €220 | -€3,056 | -93.3% |
| Financial charges | 65/66B | €82,877 | €112,117 | +€29,239 | +35.3% |
| Recurring financial charges | 65 | €82,877 | €112,117 | +€29,239 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €113,532 | €279,121 | +€165,589 | +146% |
| Income taxes | 67/77 | €8,387 | €5,362 | -€3,025 | -36.1% |
| Profit (loss) for the period | 9904 | €105,145 | €273,759 | +€168,614 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €105,145 | €273,759 | +€168,614 | +160% |
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.