MIEDO: what changed
What changed
MIEDO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€84,978
2024 · €77,021+€7,958
Equity
€765,850
2024 · €680,872+€84,978
Cash
€221,496
2024 · €118,402+€103,094
Balance sheet total
€825,088
2024 · €727,722+€97,366
Largest movements
Assets
- Cash +€103,094
up €103,094 (+87.1%), from €118,402 to €221,496
mainly Net result for the year (+€84,978) and Tax, wage and social debts (+€16,807)
- Tangible fixed assets -€9,105
down €9,105 (-3.4%), from €267,311 to €258,206
of which Land and buildings: -€7,746
Equity and liabilities
- Reserves +€84,978
up €84,978 (+17.6%), from €482,872 to €567,850
- Tax, wage and social debts +€16,807
up €16,807 (+186%), from €9,028 to €25,835
Income statement
- Gross operating margin +€14,207
up €14,207 (+11.7%), from €121,399 to €135,606
- Taxes +€10,048
up €10,048 (+28.2%), from €35,624 to €45,673
- Financial charges -€2,935
down €2,935 (-84.2%), from €3,486 to €550
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€77,021
Gross operating margin
+€14,207
Depreciation
+€1,070
Other operating charges
+€972
Financial income
-€1,179
Financial charges
+€2,935
Taxes
-€10,048
Result 2025
€84,978
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€109,273
Investment
€0
Financing
-€6,178
Cash 2024
€118,402
From operations (derived)
+€109,273
Net result for the year
+€84,978
Depreciation
+€9,105
Receivables within one year
-€3,377
Tax, wage and social debts
+€16,807
Other debts
+€1,759
Financing
-€6,178
Debts after one year
-€5,780
Current portion of long-term debt
-€399
Cash 2025
€221,496
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €727,722 | €825,088 | +€97,366 | +13.4% |
| Fixed assets | 21/28 | €267,311 | €258,206 | -€9,105 | -3.4% |
| Tangible fixed assets | 22/27 | €267,311 | €258,206 | -€9,105 | -3.4% |
| Land and buildings | 22 | €264,936 | €257,190 | -€7,746 | -2.9% |
| Furniture and vehicles | 24 | €2,374 | €1,015 | -€1,359 | -57.2% |
| Current assets | 29/58 | €460,411 | €566,882 | +€106,471 | +23.1% |
| Amounts receivable within one year | 40/41 | €11,308 | €14,685 | +€3,377 | +29.9% |
| Trade receivables | 40 | €10,328 | €13,552 | +€3,224 | +31.2% |
| Other amounts receivable | 41 | €980 | €1,133 | +€153 | +15.6% |
| Current investments | 50/53 | €330,701 | €330,701 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €118,402 | €221,496 | +€103,094 | +87.1% |
| Total equity and liabilities | 10/49 | €727,722 | €825,088 | +€97,366 | +13.4% |
| Equity | 10/15 | €680,872 | €765,850 | +€84,978 | +12.5% |
| Contributions | 10/11 | €198,000 | €198,000 | = | 0.0% |
| Reserves | 13 | €482,872 | €567,850 | +€84,978 | +17.6% |
| Distributable reserves | 133 | €482,872 | €567,850 | +€84,978 | +17.6% |
| Amounts payable | 17/49 | €46,850 | €59,238 | +€12,388 | +26.4% |
| Amounts payable after more than one year | 17 | €18,203 | €12,423 | -€5,780 | -31.8% |
| Financial debts | 170/4 | €18,203 | €12,423 | -€5,780 | -31.8% |
| Amounts payable within one year | 42/48 | €28,647 | €46,815 | +€18,167 | +63.4% |
| Current portion of amounts payable after more than one year | 42 | €6,699 | €6,300 | -€399 | -6.0% |
| Taxes, remuneration and social security | 45 | €9,028 | €25,835 | +€16,807 | +186% |
| Taxes | 450/3 | €9,028 | €25,835 | +€16,807 | +186% |
| Other amounts payable | 47/48 | €12,920 | €14,679 | +€1,759 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,175 | €9,105 | -€1,070 | -10.5% |
| Other operating charges | 640/8 | €2,223 | €1,250 | -€972 | -43.8% |
| Gross operating margin | 9900 | €121,399 | €135,606 | +€14,207 | +11.7% |
| Operating profit (loss) | 9901 | €109,002 | €125,251 | +€16,249 | +14.9% |
| Financial income | 75/76B | €7,129 | €5,950 | -€1,179 | -16.5% |
| Recurring financial income | 75 | €6,550 | €5,950 | -€600 | -9.2% |
| Non-recurring financial income | 76B | €579 | - | -€579 | |
| Financial charges | 65/66B | €3,486 | €550 | -€2,935 | -84.2% |
| Recurring financial charges | 65 | €3,486 | €550 | -€2,935 | -84.2% |
| Profit (loss) for the period before taxes | 9903 | €112,645 | €130,651 | +€18,006 | +16.0% |
| Income taxes | 67/77 | €35,624 | €45,673 | +€10,048 | +28.2% |
| Profit (loss) for the period | 9904 | €77,021 | €84,978 | +€7,958 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €77,021 | €84,978 | +€7,958 | +10.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.