MIG 85: what changed
Two fiscal 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 85
Largest movements
- Receivables within one year +€117,112
new in 2025: €117,112
- Tangible fixed assets +€114,780
up €114,780 (+20.6%), from €557,382 to €672,162
of which Other tangible fixed assets: +€122,539
- Other debts +€203,714
up €203,714 (+1018570.6%), from €20 to €203,734
- Trade debts +€87,980
up €87,980 (+438.0%), from €20,087 to €108,067
- Profit (loss) carried forward -€66,000
down €66,000 (-68.4%), from -€96,442 to -€162,441
- Depreciation -€33,831
down €33,831 (-48.5%), from €69,790 to €35,959
- Financial charges +€10,238
up €10,238 (+53.2%), from €19,249 to €29,487
- Gross operating margin +€5,070
up €5,070 (+96.5%), from -€5,253 to -€183
- Other operating charges -€1,770
down €1,770 (-82.3%), from €2,150 to €381
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 | €566,596 | €792,291 | +€225,695 | +39.8% |
| Fixed assets | 21/28 | €557,382 | €672,162 | +€114,780 | +20.6% |
| Tangible fixed assets | 22/27 | €557,382 | €672,162 | +€114,780 | +20.6% |
| Land and buildings | 22 | €406,031 | €395,470 | -€10,561 | -2.6% |
| Furniture and vehicles | 24 | - | €2,801 | +€2,801 | |
| Other tangible fixed assets | 26 | €151,351 | €273,890 | +€122,539 | +81.0% |
| Current assets | 29/58 | €9,214 | €120,130 | +€110,915 | +1203.7% |
| Amounts receivable within one year | 40/41 | - | €117,112 | +€117,112 | |
| Trade receivables | 40 | - | €117,112 | +€117,112 | |
| Cash at bank and in hand | 54/58 | €9,214 | €3,017 | -€6,197 | -67.3% |
| Total equity and liabilities | 10/49 | €566,596 | €792,291 | +€225,695 | +39.8% |
| Equity | 10/15 | €113,558 | €47,559 | -€66,000 | -58.1% |
| Contributions | 10/11 | €210,000 | €210,000 | = | 0.0% |
| Outside capital | 11 | €210,000 | €210,000 | = | 0.0% |
| Other | 1109/19 | €210,000 | €210,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,442 | -€162,441 | -€66,000 | -68.4% |
| Amounts payable | 17/49 | €453,038 | €744,733 | +€291,695 | +64.4% |
| Amounts payable after more than one year | 17 | €432,931 | €432,931 | = | 0.0% |
| Financial debts | 170/4 | €432,931 | €432,931 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,107 | €311,802 | +€291,695 | +1450.7% |
| Trade debts | 44 | €20,087 | €108,067 | +€87,980 | +438.0% |
| Suppliers | 440/4 | €20,087 | €108,067 | +€87,980 | +438.0% |
| Other amounts payable | 47/48 | €20 | €203,734 | +€203,714 | +1018570.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,790 | €35,959 | -€33,831 | -48.5% |
| Other operating charges | 640/8 | €2,150 | €381 | -€1,770 | -82.3% |
| Gross operating margin | 9900 | -€5,253 | -€183 | +€5,070 | +96.5% |
| Operating profit (loss) | 9901 | -€77,193 | -€36,522 | +€40,671 | +52.7% |
| Financial income | 75/76B | €1 | €10 | +€9 | +1512.9% |
| Recurring financial income | 75 | €1 | €10 | +€9 | +1512.9% |
| Financial charges | 65/66B | €19,249 | €29,487 | +€10,238 | +53.2% |
| Recurring financial charges | 65 | €19,249 | €29,487 | +€10,238 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | -€96,442 | -€66,000 | +€30,442 | +31.6% |
| Profit (loss) for the period | 9904 | -€96,442 | -€66,000 | +€30,442 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,442 | -€66,000 | +€30,442 | +31.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.