MiFaMe: 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.
MiFaMe
Largest movements
- Tangible fixed assets -€174,014
down €174,014 (-3.3%), from €5.3m to €5.1m
- Debts after one year -€630,975
down €630,975 (-15.8%), from €4.0m to €3.4m
- Reserves +€290,525
up €290,525 (+29.7%), from €979,493 to €1.3m
of which Distributable reserves: +€290,525
- Tax, wage and social debts +€128,260
up €128,260 (+374%), from €34,285 to €162,545
- Taxes +€16,767
up €16,767 (+13.1%), from €128,287 to €145,054
- Gross operating margin +€10,619
up €10,619 (+1.4%), from €753,504 to €764,124
- Other operating charges +€10,509
up €10,509 (+17.9%), from €58,866 to €69,375
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 | €5,416,722 | €5,205,601 | -€211,121 | -3.9% |
| Fixed assets | 21/28 | €5,267,217 | €5,093,202 | -€174,014 | -3.3% |
| Tangible fixed assets | 22/27 | €5,267,217 | €5,093,202 | -€174,014 | -3.3% |
| Land and buildings | 22 | €5,267,217 | €5,093,202 | -€174,014 | -3.3% |
| Current assets | 29/58 | €149,506 | €112,399 | -€37,107 | -24.8% |
| Amounts receivable within one year | 40/41 | €36,210 | €33,517 | -€2,693 | -7.4% |
| Trade receivables | 40 | €30,855 | €33,517 | +€2,662 | +8.6% |
| Other amounts receivable | 41 | €5,355 | - | -€5,355 | |
| Cash at bank and in hand | 54/58 | €113,296 | €78,882 | -€34,414 | -30.4% |
| Total equity and liabilities | 10/49 | €5,416,722 | €5,205,601 | -€211,121 | -3.9% |
| Equity | 10/15 | €998,093 | €1,288,618 | +€290,525 | +29.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €979,493 | €1,270,018 | +€290,525 | +29.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €977,633 | €1,268,158 | +€290,525 | +29.7% |
| Amounts payable | 17/49 | €4,418,629 | €3,916,983 | -€501,646 | -11.4% |
| Amounts payable after more than one year | 17 | €3,996,901 | €3,365,926 | -€630,975 | -15.8% |
| Financial debts | 170/4 | €3,996,901 | €3,365,926 | -€630,975 | -15.8% |
| Amounts payable within one year | 42/48 | €421,728 | €551,057 | +€129,329 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €366,667 | €366,667 | +€0 | 0.0% |
| Trade debts | 44 | €390 | €420 | +€30 | +7.8% |
| Suppliers | 440/4 | €390 | €420 | +€30 | +7.8% |
| Taxes, remuneration and social security | 45 | €34,285 | €162,545 | +€128,260 | +374% |
| Taxes | 450/3 | €34,285 | €162,545 | +€128,260 | +374% |
| Other amounts payable | 47/48 | €20,386 | €21,425 | +€1,039 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,135 | €183,136 | +€7,001 | +4.0% |
| Other operating charges | 640/8 | €58,866 | €69,375 | +€10,509 | +17.9% |
| Gross operating margin | 9900 | €753,504 | €764,124 | +€10,619 | +1.4% |
| Operating profit (loss) | 9901 | €518,503 | €511,613 | -€6,891 | -1.3% |
| Financial charges | 65/66B | €82,985 | €76,033 | -€6,952 | -8.4% |
| Recurring financial charges | 65 | €82,985 | €76,033 | -€6,952 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €435,518 | €435,579 | +€61 | 0.0% |
| Income taxes | 67/77 | €128,287 | €145,054 | +€16,767 | +13.1% |
| Profit (loss) for the period | 9904 | €307,231 | €290,525 | -€16,706 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €307,231 | €290,525 | -€16,706 | -5.4% |
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 25 October 2026 via checked.be.