MIFICO: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
MIFICO
Largest movements
- Tangible fixed assets -€24,300
down €24,300 (-21.5%), from €113,164 to €88,864
of which Furniture and vehicles: -€21,165
- Cash -€13,866
down €13,866 (-5.0%), from €276,543 to €262,676
mainly Other debts (-€33,339) and Current portion of long-term debt (-€10,202)
- Receivables within one year -€7,541
down €7,541 (-86.3%), from €8,742 to €1,201
- Other debts -€33,339
down €33,339 (-69.8%), from €47,744 to €14,405
- Current portion of long-term debt -€10,202
down €10,202 (-100%), from €10,202 to €0
- Financial income -€456,890
down €456,890 (-99.0%), from €461,711 to €4,821
of which Non-recurring financial income: -€441,436
- Gross operating margin +€134,874
up €134,874, from -€105,337 to €29,537
- Depreciation +€5,716
up €5,716 (+23.3%), from €24,583 to €30,299
- Other operating charges +€1,232
up €1,232 (+109%), from €1,131 to €2,363
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €402,229 | €357,610 | -€44,619 | -11.1% |
| Fixed assets | 21/28 | €115,664 | €91,369 | -€24,295 | -21.0% |
| Tangible fixed assets | 22/27 | €113,164 | €88,864 | -€24,300 | -21.5% |
| Land and buildings | 22 | €11,656 | €9,133 | -€2,523 | -21.6% |
| Plant, machinery and equipment | 23 | €4,202 | €3,590 | -€612 | -14.6% |
| Furniture and vehicles | 24 | €97,306 | €76,141 | -€21,165 | -21.8% |
| Financial fixed assets | 28 | €2,500 | €2,505 | +€5 | +0.2% |
| Current assets | 29/58 | €286,565 | €266,241 | -€20,324 | -7.1% |
| Amounts receivable within one year | 40/41 | €8,742 | €1,201 | -€7,541 | -86.3% |
| Other amounts receivable | 41 | €8,742 | €1,201 | -€7,541 | -86.3% |
| Cash at bank and in hand | 54/58 | €276,543 | €262,676 | -€13,866 | -5.0% |
| Deferred charges and accrued income | 490/1 | €1,281 | €2,364 | +€1,083 | +84.6% |
| Total equity and liabilities | 10/49 | €402,229 | €357,610 | -€44,619 | -11.1% |
| Equity | 10/15 | €339,374 | €340,545 | +€1,170 | +0.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €338,374 | €339,545 | +€1,170 | +0.3% |
| Distributable reserves | 133 | €338,374 | €339,545 | +€1,170 | +0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,855 | €17,066 | -€45,789 | -72.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €61,132 | €16,930 | -€44,202 | -72.3% |
| Current portion of amounts payable after more than one year | 42 | €10,202 | €0 | -€10,202 | -100% |
| Trade debts | 44 | €1,297 | €609 | -€688 | -53.0% |
| Suppliers | 440/4 | €1,297 | €609 | -€688 | -53.0% |
| Taxes, remuneration and social security | 45 | €1,889 | €1,916 | +€27 | +1.4% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €1,889 | €1,916 | +€27 | +1.4% |
| Other amounts payable | 47/48 | €47,744 | €14,405 | -€33,339 | -69.8% |
| Accrued charges and deferred income | 492/3 | €1,723 | €136 | -€1,587 | -92.1% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,583 | €30,299 | +€5,716 | +23.3% |
| Other operating charges | 640/8 | €1,131 | €2,363 | +€1,232 | +109% |
| Gross operating margin | 9900 | -€105,337 | €29,537 | +€134,874 | |
| Operating profit (loss) | 9901 | -€131,051 | -€3,125 | +€127,926 | +97.6% |
| Financial income | 75/76B | €461,711 | €4,821 | -€456,890 | -99.0% |
| Recurring financial income | 75 | €20,275 | €4,821 | -€15,455 | -76.2% |
| Non-recurring financial income | 76B | €441,436 | €0 | -€441,436 | -100% |
| Financial charges | 65/66B | €359 | €280 | -€79 | -21.9% |
| Recurring financial charges | 65 | €359 | €280 | -€79 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €330,301 | €1,415 | -€328,886 | -99.6% |
| Income taxes | 67/77 | €261 | €245 | -€16 | -6.2% |
| Profit (loss) for the period | 9904 | €330,040 | €1,170 | -€328,870 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €330,040 | €1,170 | -€328,870 | -99.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.