MIG-PROJECTS: 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-PROJECTS
Largest movements
- Cash +€16,500
up €16,500 (+31.9%), from €51,765 to €68,265
mainly Net result for the year (+€28,251) and Tax, wage and social debts (+€4,573)
- Receivables within one year +€8,461
up €8,461 (+53.3%), from €15,863 to €24,324
- Tangible fixed assets +€6,123
up €6,123 (+141%), from €4,349 to €10,472
of which Other tangible fixed assets: +€8,118
- Profit (loss) carried forward +€28,251
up €28,251 (+180%), from €15,656 to €43,907
- Tax, wage and social debts +€4,573
up €4,573 (+20.8%), from €21,949 to €26,523
- Other debts -€1,798
down €1,798 (-15.7%), from €11,452 to €9,654
- Gross operating margin +€14,289
up €14,289 (+50.9%), from €28,096 to €42,385
- Financial charges -€2,108
down €2,108 (-66.8%), from €3,157 to €1,049
- Taxes +€1,875
up €1,875 (+26.8%), from €7,009 to €8,885
- Financial income -€1,699
no longer reported in 2025 (was €1,699)
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 | €71,977 | €103,061 | +€31,084 | +43.2% |
| Fixed assets | 21/28 | €4,349 | €10,472 | +€6,123 | +141% |
| Tangible fixed assets | 22/27 | €4,349 | €10,472 | +€6,123 | +141% |
| Plant, machinery and equipment | 23 | €416 | - | -€416 | |
| Furniture and vehicles | 24 | €1,635 | €57 | -€1,578 | -96.5% |
| Other tangible fixed assets | 26 | €2,297 | €10,415 | +€8,118 | +353% |
| Current assets | 29/58 | €67,628 | €92,589 | +€24,961 | +36.9% |
| Amounts receivable within one year | 40/41 | €15,863 | €24,324 | +€8,461 | +53.3% |
| Trade receivables | 40 | €15,863 | €24,324 | +€8,461 | +53.3% |
| Cash at bank and in hand | 54/58 | €51,765 | €68,265 | +€16,500 | +31.9% |
| Total equity and liabilities | 10/49 | €71,977 | €103,061 | +€31,084 | +43.2% |
| Equity | 10/15 | €34,256 | €62,507 | +€28,251 | +82.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,656 | €43,907 | +€28,251 | +180% |
| Amounts payable | 17/49 | €37,721 | €40,553 | +€2,833 | +7.5% |
| Amounts payable within one year | 42/48 | €37,721 | €40,553 | +€2,833 | +7.5% |
| Trade debts | 44 | €4,319 | €4,377 | +€58 | +1.3% |
| Suppliers | 440/4 | €4,319 | €4,377 | +€58 | +1.3% |
| Taxes, remuneration and social security | 45 | €21,949 | €26,523 | +€4,573 | +20.8% |
| Taxes | 450/3 | €21,949 | €26,523 | +€4,573 | +20.8% |
| Other amounts payable | 47/48 | €11,452 | €9,654 | -€1,798 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,593 | €2,877 | +€284 | +11.0% |
| Other operating charges | 640/8 | €1,380 | €1,323 | -€57 | -4.1% |
| Gross operating margin | 9900 | €28,096 | €42,385 | +€14,289 | +50.9% |
| Operating profit (loss) | 9901 | €24,123 | €38,185 | +€14,062 | +58.3% |
| Financial income | 75/76B | €1,699 | - | -€1,699 | |
| Recurring financial income | 75 | €1,699 | - | -€1,699 | |
| Financial charges | 65/66B | €3,157 | €1,049 | -€2,108 | -66.8% |
| Recurring financial charges | 65 | €3,157 | €1,049 | -€2,108 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €22,665 | €37,136 | +€14,471 | +63.8% |
| Income taxes | 67/77 | €7,009 | €8,885 | +€1,875 | +26.8% |
| Profit (loss) for the period | 9904 | €15,656 | €28,251 | +€12,595 | +80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,656 | €28,251 | +€12,595 | +80.5% |
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 15 October 2026 via checked.be.