MIEL: what changed
Two fiscal 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.
MIEL
Largest movements
- Tangible fixed assets -€30,337
down €30,337 (-21.3%), from €142,454 to €112,116
of which Land and buildings: -€30,279
- Receivables within one year +€6,655
up €6,655 (+78.8%), from €8,446 to €15,101
of which Trade receivables: +€6,655
- Debts after one year -€23,529
down €23,529 (-27.2%), from €86,556 to €63,027
- Profit (loss) carried forward -€22,159
down €22,159 (-31.5%), from -€70,322 to -€92,481
- Other debts +€20,962
up €20,962 (+23.0%), from €91,331 to €112,293
- Gross operating margin +€2,186
up €2,186 (+18.2%), from €11,987 to €14,173
- Financial charges -€872
down €872 (-17.8%), from €4,900 to €4,029
- Depreciation -€765
down €765 (-2.4%), from €31,522 to €30,757
- Purchases and services -€542
down €542 (-12.7%), from €4,279 to €3,737
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.
Cash bridge derived
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 | €150,966 | €127,511 | -€23,455 | -15.5% |
| Fixed assets | 21/28 | €142,454 | €112,116 | -€30,337 | -21.3% |
| Tangible fixed assets | 22/27 | €142,454 | €112,116 | -€30,337 | -21.3% |
| Land and buildings | 22 | €141,862 | €111,583 | -€30,279 | -21.3% |
| Plant, machinery and equipment | 23 | €244 | €80 | -€164 | -67.2% |
| Furniture and vehicles | 24 | €348 | €453 | +€105 | +30.1% |
| Current assets | 29/58 | €8,512 | €15,395 | +€6,883 | +80.9% |
| Amounts receivable within one year | 40/41 | €8,446 | €15,101 | +€6,655 | +78.8% |
| Trade receivables | 40 | - | €6,655 | +€6,655 | |
| Other amounts receivable | 41 | €8,446 | €8,446 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €66 | €294 | +€228 | +343.2% |
| Total equity and liabilities | 10/49 | €150,966 | €127,511 | -€23,455 | -15.5% |
| Equity | 10/15 | -€49,862 | -€72,021 | -€22,159 | -44.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,322 | -€92,481 | -€22,159 | -31.5% |
| Amounts payable | 17/49 | €200,828 | €199,532 | -€1,296 | -0.6% |
| Amounts payable after more than one year | 17 | €86,556 | €63,027 | -€23,529 | -27.2% |
| Financial debts | 170/4 | €86,556 | €63,027 | -€23,529 | -27.2% |
| Amounts payable within one year | 42/48 | €114,272 | €136,506 | +€22,233 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €22,623 | €23,529 | +€906 | +4.0% |
| Trade debts | 44 | €162 | €548 | +€385 | +237.3% |
| Suppliers | 440/4 | €162 | €548 | +€385 | +237.3% |
| Taxes, remuneration and social security | 45 | €156 | €136 | -€20 | -12.8% |
| Taxes | 450/3 | €156 | €136 | -€20 | -12.8% |
| Other amounts payable | 47/48 | €91,331 | €112,293 | +€20,962 | +23.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,279 | €3,737 | -€542 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,522 | €30,757 | -€765 | -2.4% |
| Other operating charges | 640/8 | €1,597 | €1,546 | -€52 | -3.2% |
| Gross operating margin | 9900 | €11,987 | €14,173 | +€2,186 | +18.2% |
| Operating profit (loss) | 9901 | -€21,132 | -€18,130 | +€3,002 | +14.2% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €4,900 | €4,029 | -€872 | -17.8% |
| Recurring financial charges | 65 | €4,900 | €4,029 | -€872 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | -€26,026 | -€22,159 | +€3,867 | +14.9% |
| Profit (loss) for the period | 9904 | -€26,026 | -€22,159 | +€3,867 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,026 | -€22,159 | +€3,867 | +14.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.