Mihthra: 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.
Mihthra
Largest movements
- Tangible fixed assets -€32,597
down €32,597 (-5.5%), from €591,665 to €559,068
of which Land and buildings: -€29,634
- Stocks and contracts -€14,652
down €14,652 (-14.0%), from €104,786 to €90,134
- Cash -€7,790
down €7,790 (-85.1%), from €9,152 to €1,362
mainly Debts after one year (-€51,751) and Current portion of long-term debt (-€7,658)
- Debts after one year -€51,751
down €51,751 (-10.4%), from €498,628 to €446,877
- Short-term financial debts +€12,377
up €12,377 (+451%), from €2,744 to €15,121
- Current portion of long-term debt -€7,658
down €7,658 (-12.9%), from €59,409 to €51,751
- Gross operating margin -€20,773
down €20,773 (-8.7%), from €239,032 to €218,259
- Staff costs -€9,382
down €9,382 (-5.6%), from €166,964 to €157,582
- Depreciation -€2,483
down €2,483 (-6.5%), from €38,340 to €35,857
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €754,617 | €700,869 | -€53,747 | -7.1% |
| Fixed assets | 21/28 | €592,837 | €559,068 | -€33,769 | -5.7% |
| Intangible fixed assets | 21 | €1,172 | €0 | -€1,172 | -100% |
| Tangible fixed assets | 22/27 | €591,665 | €559,068 | -€32,597 | -5.5% |
| Land and buildings | 22 | €569,040 | €539,406 | -€29,634 | -5.2% |
| Plant, machinery and equipment | 23 | €22,625 | €19,662 | -€2,963 | -13.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €161,780 | €141,801 | -€19,978 | -12.3% |
| Stocks and contracts in progress | 3 | €104,786 | €90,134 | -€14,652 | -14.0% |
| Stocks | 30/36 | €104,786 | €90,134 | -€14,652 | -14.0% |
| Amounts receivable within one year | 40/41 | €19,080 | €21,053 | +€1,973 | +10.3% |
| Trade receivables | 40 | €2,520 | €5,293 | +€2,773 | +110% |
| Other amounts receivable | 41 | €16,560 | €15,761 | -€800 | -4.8% |
| Cash at bank and in hand | 54/58 | €9,152 | €1,362 | -€7,790 | -85.1% |
| Deferred charges and accrued income | 490/1 | €28,761 | €29,252 | +€491 | +1.7% |
| Total equity and liabilities | 10/49 | €754,617 | €700,869 | -€53,747 | -7.1% |
| Equity | 10/15 | €78,609 | €76,345 | -€2,264 | -2.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,409 | €70,145 | -€2,264 | -3.1% |
| Distributable reserves | 133 | €72,409 | €70,145 | -€2,264 | -3.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €676,008 | €624,525 | -€51,483 | -7.6% |
| Amounts payable after more than one year | 17 | €498,628 | €446,877 | -€51,751 | -10.4% |
| Financial debts | 170/4 | €498,628 | €446,877 | -€51,751 | -10.4% |
| Amounts payable within one year | 42/48 | €177,090 | €177,089 | -€0 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €59,409 | €51,751 | -€7,658 | -12.9% |
| Financial debts | 43 | €2,744 | €15,121 | +€12,377 | +451% |
| Credit institutions | 430/8 | €2,744 | €15,121 | +€12,377 | +451% |
| Trade debts | 44 | €78,654 | €75,993 | -€2,660 | -3.4% |
| Suppliers | 440/4 | €78,654 | €75,993 | -€2,660 | -3.4% |
| Taxes, remuneration and social security | 45 | €35,141 | €33,256 | -€1,884 | -5.4% |
| Taxes | 450/3 | €8,845 | €7,975 | -€870 | -9.8% |
| Remuneration and social security | 454/9 | €26,296 | €25,281 | -€1,014 | -3.9% |
| Other amounts payable | 47/48 | €1,142 | €968 | -€174 | -15.2% |
| Accrued charges and deferred income | 492/3 | €290 | €559 | +€269 | +92.7% |
| Remuneration, social security and pensions | 62 | €166,964 | €157,582 | -€9,382 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,340 | €35,857 | -€2,483 | -6.5% |
| Other operating charges | 640/8 | €9,239 | €9,221 | -€18 | -0.2% |
| Gross operating margin | 9900 | €239,032 | €218,259 | -€20,773 | -8.7% |
| Operating profit (loss) | 9901 | €24,489 | €15,598 | -€8,891 | -36.3% |
| Financial income | 75/76B | €924 | €807 | -€116 | -12.6% |
| Recurring financial income | 75 | €924 | €807 | -€116 | -12.6% |
| Financial charges | 65/66B | €17,598 | €17,207 | -€391 | -2.2% |
| Recurring financial charges | 65 | €17,598 | €17,207 | -€391 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €7,814 | -€801 | -€8,616 | |
| Income taxes | 67/77 | €3,291 | €1,463 | -€1,828 | -55.6% |
| Profit (loss) for the period | 9904 | €4,523 | -€2,264 | -€6,787 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,523 | -€2,264 | -€6,787 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.