MIEU: 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.
MIEU
Largest movements
- Stocks and contracts -€69,574
down €69,574 (-66.4%), from €104,824 to €35,250
- Receivables within one year +€27,275
new in 2023: €27,275
of which Trade receivables: +€26,349
- Cash -€5,490
down €5,490 (-47.1%), from €11,646 to €6,156
mainly Net result for the year (-€51,391) and Receivables within one year (-€27,275)
- Tangible fixed assets +€3,440
up €3,440 (+12.9%), from €26,696 to €30,136
of which Assets under construction and advance payments: +€4,229
- Intangible fixed assets -€3,287
down €3,287 (-51.8%), from €6,346 to €3,059
- Profit (loss) carried forward -€51,391
down €51,391 (-240.4%), from -€21,381 to -€72,771
- Other debts -€24,040
down €24,040 (-37.8%), from €63,519 to €39,480
- Debts after one year +€19,650
up €19,650 (+98.3%), from €19,993 to €39,643
- Advances received +€12,865
new in 2023: €12,865
- Trade debts -€5,527
down €5,527 (-21.8%), from €25,367 to €19,840
- Gross operating margin -€61,687
down €61,687 (-75.9%), from €81,252 to €19,565
- Financial charges -€3,924
down €3,924 (-42.1%), from €9,321 to €5,397
- Staff costs -€1,481
down €1,481 (-2.7%), from €55,257 to €53,776
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €150,309 | €103,068 | -€47,242 | -31.4% |
| Fixed assets | 21/28 | €33,839 | €34,387 | +€548 | +1.6% |
| Intangible fixed assets | 21 | €6,346 | €3,059 | -€3,287 | -51.8% |
| Tangible fixed assets | 22/27 | €26,696 | €30,136 | +€3,440 | +12.9% |
| Furniture and vehicles | 24 | - | €1,115 | +€1,115 | |
| Other tangible fixed assets | 26 | €11,746 | €9,841 | -€1,905 | -16.2% |
| Assets under construction and advance payments | 27 | €14,951 | €19,180 | +€4,229 | +28.3% |
| Financial fixed assets | 28 | €796 | €1,192 | +€396 | +49.7% |
| Current assets | 29/58 | €116,470 | €68,681 | -€47,790 | -41.0% |
| Stocks and contracts in progress | 3 | €104,824 | €35,250 | -€69,574 | -66.4% |
| Stocks | 30/36 | €104,824 | €35,250 | -€69,574 | -66.4% |
| Amounts receivable within one year | 40/41 | - | €27,275 | +€27,275 | |
| Trade receivables | 40 | - | €26,349 | +€26,349 | |
| Other amounts receivable | 41 | - | €925 | +€925 | |
| Cash at bank and in hand | 54/58 | €11,646 | €6,156 | -€5,490 | -47.1% |
| Total equity and liabilities | 10/49 | €150,309 | €103,068 | -€47,242 | -31.4% |
| Equity | 10/15 | -€6,464 | -€57,855 | -€51,391 | -795.0% |
| Contributions | 10/11 | €14,916 | €14,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,381 | -€72,771 | -€51,391 | -240.4% |
| Amounts payable | 17/49 | €156,774 | €160,923 | +€4,149 | +2.6% |
| Amounts payable after more than one year | 17 | €19,993 | €39,643 | +€19,650 | +98.3% |
| Financial debts | 170/4 | €19,993 | €39,643 | +€19,650 | +98.3% |
| Amounts payable within one year | 42/48 | €136,780 | €121,279 | -€15,501 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €12,198 | €13,339 | +€1,141 | +9.4% |
| Trade debts | 44 | €25,367 | €19,840 | -€5,527 | -21.8% |
| Suppliers | 440/4 | €25,367 | €19,840 | -€5,527 | -21.8% |
| Advances received on contracts in progress | 46 | - | €12,865 | +€12,865 | |
| Taxes, remuneration and social security | 45 | €35,695 | €35,755 | +€59 | +0.2% |
| Taxes | 450/3 | €25,639 | €23,381 | -€2,258 | -8.8% |
| Remuneration and social security | 454/9 | €10,056 | €12,373 | +€2,318 | +23.0% |
| Other amounts payable | 47/48 | €63,519 | €39,480 | -€24,040 | -37.8% |
| Remuneration, social security and pensions | 62 | €55,257 | €53,776 | -€1,481 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,175 | €11,703 | +€528 | +4.7% |
| Other operating charges | 640/8 | €686 | €418 | -€267 | -39.0% |
| Gross operating margin | 9900 | €81,252 | €19,565 | -€61,687 | -75.9% |
| Operating profit (loss) | 9901 | €14,134 | -€46,332 | -€60,466 | |
| Financial income | 75/76B | €125 | €474 | +€348 | +277.7% |
| Recurring financial income | 75 | €125 | €474 | +€348 | +277.7% |
| Financial charges | 65/66B | €9,321 | €5,397 | -€3,924 | -42.1% |
| Recurring financial charges | 65 | €9,321 | €5,397 | -€3,924 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €4,938 | -€51,256 | -€56,194 | |
| Income taxes | 67/77 | €126 | €135 | +€9 | +7.0% |
| Profit (loss) for the period | 9904 | €4,812 | -€51,391 | -€56,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,812 | -€51,391 | -€56,203 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.