Mignon Stephan: what changed
Mignon Stephan
Largest movements
- Stocks and contracts -€19,301
down €19,301 (-25.8%), from €74,766 to €55,464
of which Contracts in progress: -€18,766
- Tangible fixed assets -€13,209
down €13,209 (-26.7%), from €49,529 to €36,320
of which Furniture and vehicles: -€19,676
- Cash +€13,111
up €13,111 (+48.1%), from €27,264 to €40,375
mainly Other debts (+€53,251) and Depreciation (+€19,357)
- Receivables within one year -€5,144
down €5,144 (-42.6%), from €12,065 to €6,922
- Deferred charges and accrued income -€3,099
down €3,099 (-62.3%), from €4,977 to €1,878
- Other debts +€53,251
up €53,251 (+246%), from €21,681 to €74,932
- Reserves -€42,257
down €42,257 (-76.3%), from €55,354 to €13,097
of which Distributable reserves: -€42,257
- Debts after one year -€17,006
down €17,006 (-78.7%), from €21,602 to €4,596
- Tax, wage and social debts -€11,473
down €11,473 (-61.6%), from €18,615 to €7,143
of which Remuneration and social security: -€6,153
- Trade debts -€10,111
down €10,111 (-59.3%), from €17,047 to €6,936
- Gross operating margin -€52,914
down €52,914 (-36.4%), from €145,204 to €92,290
- Staff costs -€40,482
down €40,482 (-39.6%), from €102,168 to €61,686
- Depreciation -€3,334
down €3,334 (-14.7%), from €22,691 to €19,357
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 | €169,901 | €142,259 | -€27,642 | -16.3% |
| Fixed assets | 21/28 | €50,829 | €37,620 | -€13,209 | -26.0% |
| Tangible fixed assets | 22/27 | €49,529 | €36,320 | -€13,209 | -26.7% |
| Plant, machinery and equipment | 23 | €1,626 | €1,376 | -€250 | -15.4% |
| Furniture and vehicles | 24 | €47,903 | €28,227 | -€19,676 | -41.1% |
| Leasing and similar rights | 25 | - | €6,717 | +€6,717 | |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €119,072 | €104,639 | -€14,433 | -12.1% |
| Stocks and contracts in progress | 3 | €74,766 | €55,464 | -€19,301 | -25.8% |
| Stocks | 30/36 | €16,000 | €15,464 | -€536 | -3.3% |
| Contracts in progress | 37 | €58,766 | €40,000 | -€18,766 | -31.9% |
| Amounts receivable within one year | 40/41 | €12,065 | €6,922 | -€5,144 | -42.6% |
| Other amounts receivable | 41 | €12,065 | €6,922 | -€5,144 | -42.6% |
| Cash at bank and in hand | 54/58 | €27,264 | €40,375 | +€13,111 | +48.1% |
| Deferred charges and accrued income | 490/1 | €4,977 | €1,878 | -€3,099 | -62.3% |
| Total equity and liabilities | 10/49 | €169,901 | €142,259 | -€27,642 | -16.3% |
| Equity | 10/15 | €73,904 | €31,647 | -€42,257 | -57.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €55,354 | €13,097 | -€42,257 | -76.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €53,499 | €11,242 | -€42,257 | -79.0% |
| Amounts payable | 17/49 | €95,997 | €110,612 | +€14,615 | +15.2% |
| Amounts payable after more than one year | 17 | €21,602 | €4,596 | -€17,006 | -78.7% |
| Financial debts | 170/4 | €21,602 | €4,596 | -€17,006 | -78.7% |
| Amounts payable within one year | 42/48 | €74,395 | €106,016 | +€31,621 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €17,052 | €17,006 | -€46 | -0.3% |
| Trade debts | 44 | €17,047 | €6,936 | -€10,111 | -59.3% |
| Suppliers | 440/4 | €17,047 | €6,936 | -€10,111 | -59.3% |
| Taxes, remuneration and social security | 45 | €18,615 | €7,143 | -€11,473 | -61.6% |
| Taxes | 450/3 | €9,532 | €4,212 | -€5,320 | -55.8% |
| Remuneration and social security | 454/9 | €9,083 | €2,931 | -€6,153 | -67.7% |
| Other amounts payable | 47/48 | €21,681 | €74,932 | +€53,251 | +246% |
| Remuneration, social security and pensions | 62 | €102,168 | €61,686 | -€40,482 | -39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,691 | €19,357 | -€3,334 | -14.7% |
| Other operating charges | 640/8 | €1,083 | €671 | -€412 | -38.1% |
| Gross operating margin | 9900 | €145,204 | €92,290 | -€52,914 | -36.4% |
| Operating profit (loss) | 9901 | €19,261 | €10,576 | -€8,685 | -45.1% |
| Financial income | 75/76B | €2,432 | €1,904 | -€528 | -21.7% |
| Recurring financial income | 75 | €2,432 | €1,904 | -€528 | -21.7% |
| Financial charges | 65/66B | €2,085 | €1,478 | -€606 | -29.1% |
| Recurring financial charges | 65 | €2,085 | €1,478 | -€606 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €19,608 | €11,002 | -€8,606 | -43.9% |
| Income taxes | 67/77 | €4,039 | €3,259 | -€780 | -19.3% |
| Profit (loss) for the period | 9904 | €15,569 | €7,743 | -€7,826 | -50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,569 | €7,743 | -€7,826 | -50.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.