MIG83: 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.
MIG83
Largest movements
- Receivables within one year -€41,597
down €41,597 (-20.4%), from €204,241 to €162,644
of which Trade receivables: -€168,724
- Cash -€16,798
down €16,798 (-97.7%), from €17,197 to €398
mainly Trade debts (-€111,866) and Other debts (-€111,831)
- Intangible fixed assets -€16,000
down €16,000 (-18.7%), from €85,496 to €69,496
- Tangible fixed assets +€10,060
up €10,060 (+145%), from €6,931 to €16,991
- Deferred charges and accrued income +€4,306
up €4,306 (+20.7%), from €20,826 to €25,132
- Tax, wage and social debts +€127,287
up €127,287 (+154%), from €82,472 to €209,760
of which Remuneration and social security: +€91,320
- Trade debts -€111,866
down €111,866 (-88.6%), from €126,274 to €14,408
- Other debts -€111,831
down €111,831 (-100%), from €111,831 to €0
- Profit (loss) carried forward +€35,602
up €35,602 (+556%), from €6,401 to €42,003
- Gross operating margin +€389,390
up €389,390 (+72.4%), from €537,737 to €927,127
- Staff costs +€337,696
up €337,696 (+66.0%), from €511,669 to €849,365
- Taxes +€21,329
new in 2025: €21,329
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 | €350,294 | €290,264 | -€60,030 | -17.1% |
| Fixed assets | 21/28 | €92,427 | €86,487 | -€5,940 | -6.4% |
| Intangible fixed assets | 21 | €85,496 | €69,496 | -€16,000 | -18.7% |
| Tangible fixed assets | 22/27 | €6,931 | €16,991 | +€10,060 | +145% |
| Plant, machinery and equipment | 23 | €6,931 | €16,991 | +€10,060 | +145% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €257,867 | €203,777 | -€54,089 | -21.0% |
| Stocks and contracts in progress | 3 | €15,603 | €15,603 | = | 0.0% |
| Stocks | 30/36 | €15,603 | €15,603 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €204,241 | €162,644 | -€41,597 | -20.4% |
| Trade receivables | 40 | €204,241 | €35,518 | -€168,724 | -82.6% |
| Other amounts receivable | 41 | €0 | €127,126 | +€127,126 | |
| Cash at bank and in hand | 54/58 | €17,197 | €398 | -€16,798 | -97.7% |
| Deferred charges and accrued income | 490/1 | €20,826 | €25,132 | +€4,306 | +20.7% |
| Total equity and liabilities | 10/49 | €350,294 | €290,264 | -€60,030 | -17.1% |
| Equity | 10/15 | €29,332 | €64,934 | +€35,602 | +121% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,338 | €4,338 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,401 | €42,003 | +€35,602 | +556% |
| Amounts payable | 17/49 | €320,962 | €225,330 | -€95,632 | -29.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €320,962 | €225,330 | -€95,632 | -29.8% |
| Financial debts | 43 | €385 | €907 | +€521 | +135% |
| Credit institutions | 430/8 | €385 | €907 | +€521 | +135% |
| Trade debts | 44 | €126,274 | €14,408 | -€111,866 | -88.6% |
| Suppliers | 440/4 | €126,274 | €14,408 | -€111,866 | -88.6% |
| Advances received on contracts in progress | 46 | - | €257 | +€257 | |
| Taxes, remuneration and social security | 45 | €82,472 | €209,760 | +€127,287 | +154% |
| Taxes | 450/3 | €41,831 | €77,799 | +€35,967 | +86.0% |
| Remuneration and social security | 454/9 | €40,641 | €131,961 | +€91,320 | +225% |
| Other amounts payable | 47/48 | €111,831 | €0 | -€111,831 | -100% |
| Remuneration, social security and pensions | 62 | €511,669 | €849,365 | +€337,696 | +66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,194 | €19,712 | +€2,518 | +14.6% |
| Other operating charges | 640/8 | €1,122 | €862 | -€260 | -23.2% |
| Gross operating margin | 9900 | €537,737 | €927,127 | +€389,390 | +72.4% |
| Operating profit (loss) | 9901 | €7,752 | €57,188 | +€49,436 | +638% |
| Financial income | 75/76B | €406 | €30 | -€376 | -92.6% |
| Recurring financial income | 75 | €406 | €30 | -€376 | -92.6% |
| Financial charges | 65/66B | €2,688 | €286 | -€2,402 | -89.4% |
| Recurring financial charges | 65 | €2,688 | €286 | -€2,402 | -89.4% |
| Profit (loss) for the period before taxes | 9903 | €5,470 | €56,931 | +€51,461 | +941% |
| Income taxes | 67/77 | - | €21,329 | +€21,329 | |
| Profit (loss) for the period | 9904 | €5,470 | €35,602 | +€30,132 | +551% |
| Profit (loss) for the period to be appropriated | 9905 | €5,470 | €35,602 | +€30,132 | +551% |
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 20 October 2026 via checked.be.