Migis Group: 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.
Migis Group
Largest movements
- Cash -€214,194
down €214,194 (-96.8%), from €221,221 to €7,027
mainly Short-term financial debts (-€237,609) and Net result for the year (-€130,733)
- Receivables within one year -€30,529
down €30,529 (-49.6%), from €61,544 to €31,015
of which Trade receivables: -€33,220
- Tangible fixed assets -€7,493
down €7,493 (-22.5%), from €33,249 to €25,757
- Short-term financial debts -€237,609
no longer reported in 2025 (was €237,609)
- Profit (loss) carried forward -€130,733
down €130,733 (-89.8%), from -€145,580 to -€276,313
- Debts after one year +€94,175
up €94,175 (+32.9%), from €286,523 to €380,698
- Tax, wage and social debts +€26,404
up €26,404 (+30,795%), from €86 to €26,490
- Trade debts -€4,453
down €4,453 (-60.4%), from €7,376 to €2,923
- Gross operating margin -€51,649
down €51,649 (-167%), from -€30,957 to -€82,606
- Staff costs +€2,786
up €2,786 (+9.9%), from €28,112 to €30,899
- Other operating charges -€1,120
down €1,120 (-24.8%), from €4,515 to €3,395
- Depreciation +€1,098
up €1,098 (+8.9%), from €12,395 to €13,493
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 | €406,014 | €153,798 | -€252,216 | -62.1% |
| Fixed assets | 21/28 | €33,249 | €25,757 | -€7,493 | -22.5% |
| Tangible fixed assets | 22/27 | €33,249 | €25,757 | -€7,493 | -22.5% |
| Furniture and vehicles | 24 | €33,249 | €25,757 | -€7,493 | -22.5% |
| Current assets | 29/58 | €372,765 | €128,042 | -€244,723 | -65.7% |
| Stocks and contracts in progress | 3 | €90,000 | €90,000 | = | 0.0% |
| Stocks | 30/36 | €90,000 | €90,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €61,544 | €31,015 | -€30,529 | -49.6% |
| Trade receivables | 40 | €61,220 | €28,000 | -€33,220 | -54.3% |
| Other amounts receivable | 41 | €324 | €3,015 | +€2,691 | +830% |
| Cash at bank and in hand | 54/58 | €221,221 | €7,027 | -€214,194 | -96.8% |
| Total equity and liabilities | 10/49 | €406,014 | €153,798 | -€252,216 | -62.1% |
| Equity | 10/15 | -€125,580 | -€256,313 | -€130,733 | -104% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,580 | -€276,313 | -€130,733 | -89.8% |
| Amounts payable | 17/49 | €531,594 | €410,111 | -€121,483 | -22.9% |
| Amounts payable after more than one year | 17 | €286,523 | €380,698 | +€94,175 | +32.9% |
| Financial debts | 170/4 | €286,523 | €380,698 | +€94,175 | +32.9% |
| Amounts payable within one year | 42/48 | €245,071 | €29,413 | -€215,658 | -88.0% |
| Financial debts | 43 | €237,609 | - | -€237,609 | |
| Other loans | 439 | €237,609 | - | -€237,609 | |
| Trade debts | 44 | €7,376 | €2,923 | -€4,453 | -60.4% |
| Suppliers | 440/4 | €7,376 | €2,923 | -€4,453 | -60.4% |
| Taxes, remuneration and social security | 45 | €86 | €26,490 | +€26,404 | +30,795% |
| Remuneration and social security | 454/9 | €86 | €26,490 | +€26,404 | +30,795% |
| Remuneration, social security and pensions | 62 | €28,112 | €30,899 | +€2,786 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,395 | €13,493 | +€1,098 | +8.9% |
| Other operating charges | 640/8 | €4,515 | €3,395 | -€1,120 | -24.8% |
| Gross operating margin | 9900 | -€30,957 | -€82,606 | -€51,649 | -167% |
| Operating profit (loss) | 9901 | -€75,979 | -€130,392 | -€54,413 | -71.6% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €483 | €343 | -€140 | -29.0% |
| Recurring financial charges | 65 | €483 | €343 | -€140 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | -€76,461 | -€130,733 | -€54,271 | -71.0% |
| Profit (loss) for the period | 9904 | -€76,461 | -€130,733 | -€54,271 | -71.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,461 | -€130,733 | -€54,271 | -71.0% |
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 13 October 2026 via checked.be.