MIGNON R & L: what changed
MIGNON R & L
Largest movements
- Stocks and contracts +€335,559
up €335,559 (+66.2%), from €506,755 to €842,314
- Receivables within one year +€238,051
up €238,051 (+25.6%), from €929,265 to €1.2m
of which Trade receivables: +€193,304
- Cash -€183,581
down €183,581 (-43.0%), from €426,983 to €243,402
mainly Stocks and contracts (-€335,559) and Receivables within one year (-€238,051)
- Tangible fixed assets -€60,544
down €60,544 (-11.7%), from €518,459 to €457,915
of which Leasing and similar rights: -€47,600
- Trade debts +€452,387
up €452,387 (+62.9%), from €719,492 to €1.2m
- Other debts -€90,533
down €90,533 (-21.1%), from €429,922 to €339,389
- Tax, wage and social debts -€75,130
down €75,130 (-72.6%), from €103,455 to €28,325
of which Taxes: -€82,007
- Reserves +€72,500
up €72,500 (+30.6%), from €236,860 to €309,360
- Debts after one year -€39,407
down €39,407 (-16.3%), from €241,141 to €201,734
- Taxes -€51,757
down €51,757 (-60.4%), from €85,646 to €33,889
- Depreciation +€43,996
up €43,996 (+38.5%), from €114,138 to €158,134
- Staff costs +€18,153
up €18,153 (+22.4%), from €81,051 to €99,204
- Gross operating margin -€12,737
down €12,737 (-3.3%), from €389,681 to €376,944
- Financial income +€5,743
up €5,743 (+20.9%), from €27,535 to €33,278
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,381,866 | €2,710,948 | +€329,082 | +13.8% |
| Fixed assets | 21/28 | €518,459 | €457,915 | -€60,544 | -11.7% |
| Tangible fixed assets | 22/27 | €518,459 | €457,915 | -€60,544 | -11.7% |
| Plant, machinery and equipment | 23 | €94,704 | €73,015 | -€21,689 | -22.9% |
| Furniture and vehicles | 24 | €201,862 | €211,531 | +€9,669 | +4.8% |
| Leasing and similar rights | 25 | €216,352 | €168,752 | -€47,600 | -22.0% |
| Other tangible fixed assets | 26 | €5,541 | €4,617 | -€924 | -16.7% |
| Current assets | 29/58 | €1,863,407 | €2,253,033 | +€389,626 | +20.9% |
| Stocks and contracts in progress | 3 | €506,755 | €842,314 | +€335,559 | +66.2% |
| Stocks | 30/36 | €506,755 | €842,314 | +€335,559 | +66.2% |
| Amounts receivable within one year | 40/41 | €929,265 | €1,167,317 | +€238,051 | +25.6% |
| Trade receivables | 40 | €929,265 | €1,122,569 | +€193,304 | +20.8% |
| Other amounts receivable | 41 | - | €44,748 | +€44,748 | |
| Cash at bank and in hand | 54/58 | €426,983 | €243,402 | -€183,581 | -43.0% |
| Deferred charges and accrued income | 490/1 | €404 | - | -€404 | |
| Total equity and liabilities | 10/49 | €2,381,866 | €2,710,948 | +€329,082 | +13.8% |
| Equity | 10/15 | €796,208 | €868,727 | +€72,519 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €236,860 | €309,360 | +€72,500 | +30.6% |
| Distributable reserves | 133 | €236,860 | €309,360 | +€72,500 | +30.6% |
| Profit (loss) carried forward | 14 | €540,748 | €540,767 | +€19 | 0.0% |
| Amounts payable | 17/49 | €1,585,658 | €1,842,221 | +€256,563 | +16.2% |
| Amounts payable after more than one year | 17 | €241,141 | €201,734 | -€39,407 | -16.3% |
| Financial debts | 170/4 | €241,141 | €201,734 | -€39,407 | -16.3% |
| Amounts payable within one year | 42/48 | €1,338,869 | €1,640,487 | +€301,618 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €86,000 | €100,894 | +€14,894 | +17.3% |
| Trade debts | 44 | €719,492 | €1,171,879 | +€452,387 | +62.9% |
| Suppliers | 440/4 | €719,492 | €1,171,879 | +€452,387 | +62.9% |
| Taxes, remuneration and social security | 45 | €103,455 | €28,325 | -€75,130 | -72.6% |
| Taxes | 450/3 | €103,455 | €21,448 | -€82,007 | -79.3% |
| Remuneration and social security | 454/9 | - | €6,877 | +€6,877 | |
| Other amounts payable | 47/48 | €429,922 | €339,389 | -€90,533 | -21.1% |
| Accrued charges and deferred income | 492/3 | €5,649 | - | -€5,649 | |
| Remuneration, social security and pensions | 62 | €81,051 | €99,204 | +€18,153 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,138 | €158,134 | +€43,996 | +38.5% |
| Other operating charges | 640/8 | €13,667 | €14,773 | +€1,105 | +8.1% |
| Gross operating margin | 9900 | €389,681 | €376,944 | -€12,737 | -3.3% |
| Operating profit (loss) | 9901 | €180,825 | €104,833 | -€75,992 | -42.0% |
| Financial income | 75/76B | €27,535 | €33,278 | +€5,743 | +20.9% |
| Recurring financial income | 75 | €27,535 | €33,278 | +€5,743 | +20.9% |
| Financial charges | 65/66B | €36,411 | €31,703 | -€4,708 | -12.9% |
| Recurring financial charges | 65 | €36,411 | €31,703 | -€4,708 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €171,948 | €106,408 | -€65,541 | -38.1% |
| Income taxes | 67/77 | €85,646 | €33,889 | -€51,757 | -60.4% |
| Profit (loss) for the period | 9904 | €86,303 | €72,519 | -€13,784 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,303 | €72,519 | -€13,784 | -16.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.