MIESO: 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.
MIESO
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+1,494%), from €80,437 to €1.3m
- Debts after one year +€1.2m
up €1.2m (+3,512%), from €35,453 to €1.3m
- Profit (loss) carried forward -€80,436
down €80,436 (-1,242%), from -€6,478 to -€86,913
- Trade debts +€50,628
up €50,628 (+94.1%), from €53,796 to €104,425
- Depreciation +€64,326
up €64,326 (+3,249%), from €1,980 to €66,306
- Financial charges +€12,578
up €12,578 (+37,270%), from €34 to €12,612
- Financial income +€5,688
new in 2025: €5,688
- Gross operating margin -€1,583
down €1,583 (-40.3%), from -€3,926 to -€5,509
- Other operating charges +€1,158
up €1,158 (+216%), from €537 to €1,696
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 | €84,772 | €1,300,075 | +€1.2m | +1,434% |
| Fixed assets | 21/28 | €80,437 | €1,282,318 | +€1.2m | +1,494% |
| Tangible fixed assets | 22/27 | €80,437 | €1,282,318 | +€1.2m | +1,494% |
| Land and buildings | 22 | €80,437 | €1,282,318 | +€1.2m | +1,494% |
| Current assets | 29/58 | €4,335 | €17,758 | +€13,423 | +310% |
| Cash at bank and in hand | 54/58 | €4,335 | €13,882 | +€9,547 | +220% |
| Deferred charges and accrued income | 490/1 | - | €3,875 | +€3,875 | |
| Total equity and liabilities | 10/49 | €84,772 | €1,300,075 | +€1.2m | +1,434% |
| Equity | 10/15 | -€4,478 | -€84,913 | -€80,436 | -1,796% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,478 | -€86,913 | -€80,436 | -1,242% |
| Amounts payable | 17/49 | €89,249 | €1,384,988 | +€1.3m | +1,452% |
| Amounts payable after more than one year | 17 | €35,453 | €1,280,564 | +€1.2m | +3,512% |
| Financial debts | 170/4 | €35,453 | €1,280,564 | +€1.2m | +3,512% |
| Amounts payable within one year | 42/48 | €53,796 | €104,425 | +€50,628 | +94.1% |
| Trade debts | 44 | €53,796 | €104,425 | +€50,628 | +94.1% |
| Suppliers | 440/4 | €53,796 | €104,425 | +€50,628 | +94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,980 | €66,306 | +€64,326 | +3,249% |
| Other operating charges | 640/8 | €537 | €1,696 | +€1,158 | +216% |
| Gross operating margin | 9900 | -€3,926 | -€5,509 | -€1,583 | -40.3% |
| Operating profit (loss) | 9901 | -€6,444 | -€73,511 | -€67,067 | -1,041% |
| Financial income | 75/76B | - | €5,688 | +€5,688 | |
| Recurring financial income | 75 | - | €5,688 | +€5,688 | |
| Financial charges | 65/66B | €34 | €12,612 | +€12,578 | +37,270% |
| Recurring financial charges | 65 | €34 | €12,612 | +€12,578 | +37,270% |
| Profit (loss) for the period before taxes | 9903 | -€6,478 | -€80,436 | -€73,958 | -1,142% |
| Profit (loss) for the period | 9904 | -€6,478 | -€80,436 | -€73,958 | -1,142% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,478 | -€80,436 | -€73,958 | -1,142% |
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.