MIELABELO: 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.
MIELABELO
Largest movements
- Current investments -€1.8m
no longer reported in 2025 (was €1.8m)
- Cash +€1.4m
up €1.4m (+277%), from €510,385 to €1.9m
mainly Current investments (+€1.8m) and Deferred charges and accrued income (+€157,591)
- Deferred charges and accrued income -€157,591
down €157,591 (-43.8%), from €359,792 to €202,201
- Tangible fixed assets -€128,612
down €128,612 (-19.5%), from €658,900 to €530,288
- Receivables within one year -€114,394
down €114,394 (-18.6%), from €615,105 to €500,711
of which Trade receivables: -€131,610
- Accrued charges and deferred income -€443,080
down €443,080 (-57.0%), from €776,915 to €333,836
- Current portion of long-term debt -€104,199
down €104,199 (-44.2%), from €235,674 to €131,475
- Debts after one year -€86,089
down €86,089 (-60.7%), from €141,863 to €55,774
- Trade debts -€74,231
down €74,231 (-5.1%), from €1.4m to €1.4m
- Gross operating margin -€116,321
down €116,321 (-10.5%), from €1.1m to €988,672
- Provisions -€50,000
down €50,000, from €15,000 to -€35,000
- Staff costs -€38,996
down €38,996 (-4.3%), from €910,555 to €871,558
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 | €3,970,998 | €3,191,258 | -€779,740 | -19.6% |
| Fixed assets | 21/28 | €735,715 | €566,000 | -€169,715 | -23.1% |
| Tangible fixed assets | 22/27 | €658,900 | €530,288 | -€128,612 | -19.5% |
| Land and buildings | 22 | €381,586 | €344,196 | -€37,390 | -9.8% |
| Furniture and vehicles | 24 | €173,286 | €112,164 | -€61,122 | -35.3% |
| Leasing and similar rights | 25 | €104,028 | €73,928 | -€30,099 | -28.9% |
| Financial fixed assets | 28 | €76,815 | €35,711 | -€41,104 | -53.5% |
| Current assets | 29/58 | €3,235,283 | €2,625,258 | -€610,025 | -18.9% |
| Amounts receivable within one year | 40/41 | €615,105 | €500,711 | -€114,394 | -18.6% |
| Trade receivables | 40 | €574,113 | €442,503 | -€131,610 | -22.9% |
| Other amounts receivable | 41 | €40,992 | €58,208 | +€17,216 | +42.0% |
| Current investments | 50/53 | €1,750,000 | - | -€1.8m | |
| Cash at bank and in hand | 54/58 | €510,385 | €1,922,346 | +€1.4m | +277% |
| Deferred charges and accrued income | 490/1 | €359,792 | €202,201 | -€157,591 | -43.8% |
| Total equity and liabilities | 10/49 | €3,970,998 | €3,191,258 | -€779,740 | -19.6% |
| Equity | 10/15 | €1,211,581 | €1,211,931 | +€350 | 0.0% |
| Contributions | 10/11 | €44,020 | €44,020 | = | 0.0% |
| Reserves | 13 | €1,167,561 | €1,167,911 | +€350 | 0.0% |
| Non-distributable reserves | 130/1 | €6,820 | €6,820 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,820 | €6,820 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,467 | €7,467 | = | 0.0% |
| Distributable reserves | 133 | €1,153,274 | €1,153,624 | +€350 | 0.0% |
| Provisions and deferred taxes | 16 | €35,000 | - | -€35,000 | |
| Provisions for liabilities and charges | 160/5 | €35,000 | - | -€35,000 | |
| Other liabilities and charges | 164/5 | €35,000 | - | -€35,000 | |
| Amounts payable | 17/49 | €2,724,417 | €1,979,327 | -€745,090 | -27.3% |
| Amounts payable after more than one year | 17 | €141,863 | €55,774 | -€86,089 | -60.7% |
| Financial debts | 170/4 | €141,863 | €55,774 | -€86,089 | -60.7% |
| Amounts payable within one year | 42/48 | €1,805,639 | €1,589,717 | -€215,921 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €235,674 | €131,475 | -€104,199 | -44.2% |
| Trade debts | 44 | €1,444,975 | €1,370,744 | -€74,231 | -5.1% |
| Suppliers | 440/4 | €1,444,975 | €1,370,744 | -€74,231 | -5.1% |
| Taxes, remuneration and social security | 45 | €124,990 | €87,464 | -€37,526 | -30.0% |
| Taxes | 450/3 | €31,998 | €15,150 | -€16,848 | -52.7% |
| Remuneration and social security | 454/9 | €92,992 | €72,314 | -€20,678 | -22.2% |
| Other amounts payable | 47/48 | - | €35 | +€35 | |
| Accrued charges and deferred income | 492/3 | €776,915 | €333,836 | -€443,080 | -57.0% |
| Remuneration, social security and pensions | 62 | €910,555 | €871,558 | -€38,996 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,942 | €129,752 | -€8,190 | -5.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €15,000 | -€35,000 | -€50,000 | |
| Other operating charges | 640/8 | €10,512 | €9,883 | -€629 | -6.0% |
| Gross operating margin | 9900 | €1,104,993 | €988,672 | -€116,321 | -10.5% |
| Operating profit (loss) | 9901 | €30,984 | €12,478 | -€18,506 | -59.7% |
| Financial income | 75/76B | €39,650 | €35,572 | -€4,078 | -10.3% |
| Recurring financial income | 75 | €39,650 | €35,572 | -€4,078 | -10.3% |
| Financial charges | 65/66B | €26,246 | €15,485 | -€10,760 | -41.0% |
| Recurring financial charges | 65 | €26,246 | €15,485 | -€10,760 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €44,388 | €32,565 | -€11,823 | -26.6% |
| Income taxes | 67/77 | €29,915 | €32,215 | +€2,300 | +7.7% |
| Profit (loss) for the period | 9904 | €14,473 | €350 | -€14,123 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,473 | €350 | -€14,123 | -97.6% |
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.