MIGLIORI: 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.
MIGLIORI
Largest movements
- Tangible fixed assets +€819,110
up €819,110 (+103%), from €792,328 to €1.6m
of which Land and buildings: +€751,839
- Cash -€238,991
down €238,991 (-38.8%), from €616,257 to €377,266
mainly Investment in fixed assets (net) (-€880,335) and Other debts (-€92,126)
- Deferred charges and accrued income -€51,215
down €51,215 (-89.4%), from €57,311 to €6,096
- Current investments +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Receivables within one year -€32,075
down €32,075 (-26.5%), from €121,000 to €88,925
of which Trade receivables: -€111,193
- Debts after one year +€586,387
up €586,387 (+115%), from €508,586 to €1.1m
- Other debts -€92,126
down €92,126 (-36.0%), from €255,629 to €163,503
- Profit (loss) carried forward +€60,010
up €60,010 (+24.8%), from €241,540 to €301,550
- Current portion of long-term debt +€37,207
up €37,207 (+74.8%), from €49,722 to €86,928
- Tax, wage and social debts -€33,122
down €33,122 (-66.5%), from €49,836 to €16,714
of which Taxes: -€33,184
- Gross operating margin -€102,298
down €102,298 (-32.8%), from €312,157 to €209,859
- Taxes -€42,202
down €42,202 (-72.7%), from €58,079 to €15,877
- Other operating charges +€26,570
up €26,570 (+4,078%), from €652 to €27,222
- Financial charges +€14,888
up €14,888 (+147%), from €10,113 to €25,000
- Depreciation +€11,539
up €11,539 (+23.2%), from €49,686 to €61,225
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,886,896 | €2,433,726 | +€546,830 | +29.0% |
| Fixed assets | 21/28 | €792,328 | €1,611,438 | +€819,110 | +103% |
| Tangible fixed assets | 22/27 | €792,328 | €1,611,438 | +€819,110 | +103% |
| Land and buildings | 22 | €789,646 | €1,541,484 | +€751,839 | +95.2% |
| Furniture and vehicles | 24 | €2,683 | €69,954 | +€67,271 | +2,508% |
| Current assets | 29/58 | €1,094,568 | €822,288 | -€272,280 | -24.9% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Trade receivables | 290 | €200,000 | - | -€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €121,000 | €88,925 | -€32,075 | -26.5% |
| Trade receivables | 40 | €121,000 | €9,807 | -€111,193 | -91.9% |
| Other amounts receivable | 41 | - | €79,118 | +€79,118 | |
| Current investments | 50/53 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €616,257 | €377,266 | -€238,991 | -38.8% |
| Deferred charges and accrued income | 490/1 | €57,311 | €6,096 | -€51,215 | -89.4% |
| Total equity and liabilities | 10/49 | €1,886,896 | €2,433,726 | +€546,830 | +29.0% |
| Equity | 10/15 | €1,001,968 | €1,061,978 | +€60,010 | +6.0% |
| Contributions | 10/11 | €29,011 | €29,011 | = | 0.0% |
| Reserves | 13 | €731,416 | €731,416 | = | 0.0% |
| Distributable reserves | 133 | €731,416 | €731,416 | = | 0.0% |
| Profit (loss) carried forward | 14 | €241,540 | €301,550 | +€60,010 | +24.8% |
| Amounts payable | 17/49 | €884,928 | €1,371,748 | +€486,820 | +55.0% |
| Amounts payable after more than one year | 17 | €508,586 | €1,094,973 | +€586,387 | +115% |
| Financial debts | 170/4 | €508,586 | €1,094,973 | +€586,387 | +115% |
| Amounts payable within one year | 42/48 | €369,626 | €276,775 | -€92,851 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €49,722 | €86,928 | +€37,207 | +74.8% |
| Trade debts | 44 | €14,440 | €9,630 | -€4,810 | -33.3% |
| Suppliers | 440/4 | €14,440 | €9,630 | -€4,810 | -33.3% |
| Taxes, remuneration and social security | 45 | €49,836 | €16,714 | -€33,122 | -66.5% |
| Taxes | 450/3 | €49,836 | €16,652 | -€33,184 | -66.6% |
| Remuneration and social security | 454/9 | - | €63 | +€63 | |
| Other amounts payable | 47/48 | €255,629 | €163,503 | -€92,126 | -36.0% |
| Accrued charges and deferred income | 492/3 | €6,716 | - | -€6,716 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,686 | €61,225 | +€11,539 | +23.2% |
| Other operating charges | 640/8 | €652 | €27,222 | +€26,570 | +4,078% |
| Gross operating margin | 9900 | €312,157 | €209,859 | -€102,298 | -32.8% |
| Operating profit (loss) | 9901 | €261,819 | €121,412 | -€140,408 | -53.6% |
| Financial income | 75/76B | - | €4,475 | +€4,475 | |
| Recurring financial income | 75 | - | €4,475 | +€4,475 | |
| Financial charges | 65/66B | €10,113 | €25,000 | +€14,888 | +147% |
| Recurring financial charges | 65 | €10,113 | €25,000 | +€14,888 | +147% |
| Profit (loss) for the period before taxes | 9903 | €251,707 | €100,887 | -€150,820 | -59.9% |
| Income taxes | 67/77 | €58,079 | €15,877 | -€42,202 | -72.7% |
| Profit (loss) for the period | 9904 | €193,628 | €85,010 | -€108,619 | -56.1% |
| Profit (loss) for the period to be appropriated | 9905 | €193,628 | €85,010 | -€108,619 | -56.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.