MIEMA: 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.
MIEMA
Largest movements
- Receivables within one year +€46,500
up €46,500 (+147.3%), from €31,572 to €78,072
of which Trade receivables: +€48,661
- Cash -€21,273
down €21,273 (-19.0%), from €111,801 to €90,528
mainly Other debts (-€60,346) and Receivables within one year (-€46,500)
- Intangible fixed assets +€8,987
new in 2025: €8,987
- Stocks and contracts +€6,725
up €6,725 (+11.4%), from €58,775 to €65,500
- Profit (loss) carried forward +€78,091
up €78,091 (+42.8%), from -€182,272 to -€104,180
- Other debts -€60,346
down €60,346 (-20.9%), from €289,344 to €228,998
- Trade debts +€21,790
up €21,790 (+2179.3%), from €1,000 to €22,790
- Gross operating margin +€53,144
up €53,144 (+177.6%), from €29,927 to €83,071
- Staff costs -€1,991
down €1,991 (-100.0%), from €1,991 to €0
- Depreciation +€1,856
up €1,856 (+61.9%), from €3,000 to €4,856
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 | €211,196 | €251,644 | +€40,449 | +19.2% |
| Fixed assets | 21/28 | €9,048 | €17,545 | +€8,497 | +93.9% |
| Intangible fixed assets | 21 | - | €8,987 | +€8,987 | |
| Tangible fixed assets | 22/27 | €9,048 | €8,558 | -€490 | -5.4% |
| Plant, machinery and equipment | 23 | - | €1,654 | +€1,654 | |
| Furniture and vehicles | 24 | €9,048 | €6,904 | -€2,144 | -23.7% |
| Current assets | 29/58 | €202,148 | €234,100 | +€31,952 | +15.8% |
| Stocks and contracts in progress | 3 | €58,775 | €65,500 | +€6,725 | +11.4% |
| Stocks | 30/36 | €58,775 | €65,500 | +€6,725 | +11.4% |
| Amounts receivable within one year | 40/41 | €31,572 | €78,072 | +€46,500 | +147.3% |
| Trade receivables | 40 | €29,303 | €77,965 | +€48,661 | +166.1% |
| Other amounts receivable | 41 | €2,269 | €107 | -€2,162 | -95.3% |
| Cash at bank and in hand | 54/58 | €111,801 | €90,528 | -€21,273 | -19.0% |
| Total equity and liabilities | 10/49 | €211,196 | €251,644 | +€40,449 | +19.2% |
| Equity | 10/15 | -€79,148 | -€1,057 | +€78,091 | +98.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €3,123 | €3,123 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,123 | €3,123 | = | 0.0% |
| Legal reserve | 130 | €3,123 | €3,123 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€182,272 | -€104,180 | +€78,091 | +42.8% |
| Amounts payable | 17/49 | €290,344 | €252,701 | -€37,643 | -13.0% |
| Amounts payable within one year | 42/48 | €290,344 | €252,701 | -€37,643 | -13.0% |
| Trade debts | 44 | €1,000 | €22,790 | +€21,790 | +2179.3% |
| Suppliers | 440/4 | €1,000 | €22,790 | +€21,790 | +2179.3% |
| Taxes, remuneration and social security | 45 | - | €913 | +€913 | |
| Taxes | 450/3 | - | €913 | +€913 | |
| Other amounts payable | 47/48 | €289,344 | €228,998 | -€60,346 | -20.9% |
| Remuneration, social security and pensions | 62 | €1,991 | €0 | -€1,991 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,000 | €4,856 | +€1,856 | +61.9% |
| Other operating charges | 640/8 | €565 | €437 | -€128 | -22.6% |
| Gross operating margin | 9900 | €29,927 | €83,071 | +€53,144 | +177.6% |
| Operating profit (loss) | 9901 | €24,371 | €77,778 | +€53,407 | +219.1% |
| Financial income | 75/76B | €81 | €607 | +€525 | +646.3% |
| Recurring financial income | 75 | €81 | €607 | +€525 | +646.3% |
| Financial charges | 65/66B | €46 | €293 | +€247 | +542.7% |
| Recurring financial charges | 65 | €46 | €293 | +€247 | +542.7% |
| Profit (loss) for the period before taxes | 9903 | €24,406 | €78,091 | +€53,685 | +220.0% |
| Income taxes | 67/77 | €19 | - | -€19 | |
| Profit (loss) for the period | 9904 | €24,388 | €78,091 | +€53,704 | +220.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,388 | €78,091 | +€53,704 | +220.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.