Mig: 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.
Mig
Largest movements
- Tangible fixed assets -€11,534
down €11,534 (-47.4%), from €24,350 to €12,816
- Cash +€8,749
up €8,749 (+17.7%), from €49,326 to €58,076
mainly Other debts (+€38,421) and Depreciation (+€11,534)
- Deferred charges and accrued income -€1,838
no longer reported in 2025 (was €1,838)
- Receivables within one year +€896
up €896 (+8.3%), from €10,769 to €11,665
of which Trade receivables: +€750
- Profit (loss) carried forward -€38,701
down €38,701 (-86.5%), from €44,755 to €6,054
- Other debts +€38,421
up €38,421 (+209.6%), from €18,329 to €56,750
- Current portion of long-term debt -€7,422
down €7,422 (-74.6%), from €9,949 to €2,527
- Trade debts +€7,107
up €7,107 (+1263.6%), from €562 to €7,669
- Debts after one year -€2,527
no longer reported in 2025 (was €2,527)
- Gross operating margin -€7,136
down €7,136 (-24.8%), from €28,747 to €21,611
- Taxes -€1,554
down €1,554 (-40.7%), from €3,820 to €2,266
- Other operating charges +€947
up €947 (+474.9%), from €199 to €1,147
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 | €86,284 | €82,557 | -€3,727 | -4.3% |
| Fixed assets | 21/28 | €24,350 | €12,816 | -€11,534 | -47.4% |
| Tangible fixed assets | 22/27 | €24,350 | €12,816 | -€11,534 | -47.4% |
| Furniture and vehicles | 24 | €24,350 | €12,816 | -€11,534 | -47.4% |
| Current assets | 29/58 | €61,934 | €69,740 | +€7,807 | +12.6% |
| Amounts receivable within one year | 40/41 | €10,769 | €11,665 | +€896 | +8.3% |
| Trade receivables | 40 | €9,680 | €10,430 | +€750 | +7.8% |
| Other amounts receivable | 41 | €1,089 | €1,234 | +€146 | +13.4% |
| Cash at bank and in hand | 54/58 | €49,326 | €58,076 | +€8,749 | +17.7% |
| Deferred charges and accrued income | 490/1 | €1,838 | - | -€1,838 | |
| Total equity and liabilities | 10/49 | €86,284 | €82,557 | -€3,727 | -4.3% |
| Equity | 10/15 | €49,755 | €11,054 | -€38,701 | -77.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,755 | €6,054 | -€38,701 | -86.5% |
| Amounts payable | 17/49 | €36,529 | €71,503 | +€34,974 | +95.7% |
| Amounts payable after more than one year | 17 | €2,527 | - | -€2,527 | |
| Financial debts | 170/4 | €2,527 | - | -€2,527 | |
| Amounts payable within one year | 42/48 | €34,002 | €71,503 | +€37,501 | +110.3% |
| Current portion of amounts payable after more than one year | 42 | €9,949 | €2,527 | -€7,422 | -74.6% |
| Trade debts | 44 | €562 | €7,669 | +€7,107 | +1263.6% |
| Suppliers | 440/4 | €562 | €7,669 | +€7,107 | +1263.6% |
| Taxes, remuneration and social security | 45 | €5,161 | €4,557 | -€604 | -11.7% |
| Taxes | 450/3 | €5,161 | €4,557 | -€604 | -11.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,329 | €56,750 | +€38,421 | +209.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,718 | €11,534 | -€184 | -1.6% |
| Other operating charges | 640/8 | €199 | €1,147 | +€947 | +474.9% |
| Non-recurring operating charges | 66A | €261 | €212 | -€49 | -18.8% |
| Gross operating margin | 9900 | €28,747 | €21,611 | -€7,136 | -24.8% |
| Operating profit (loss) | 9901 | €16,568 | €8,718 | -€7,850 | -47.4% |
| Financial charges | 65/66B | €630 | €399 | -€232 | -36.8% |
| Recurring financial charges | 65 | €630 | €399 | -€232 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | €15,938 | €8,319 | -€7,618 | -47.8% |
| Income taxes | 67/77 | €3,820 | €2,266 | -€1,554 | -40.7% |
| Profit (loss) for the period | 9904 | €12,118 | €6,054 | -€6,064 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,118 | €6,054 | -€6,064 | -50.0% |
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 10 October 2026 via checked.be.