MIJADE: 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.
MIJADE
Largest movements
- Cash +€430,013
up €430,013 (+15.9%), from €2.7m to €3.1m
mainly Other debts (+€1.7m) and Net result for the year (+€409,738)
- Receivables within one year +€230,129
up €230,129 (+33.5%), from €686,994 to €917,123
of which Trade receivables: +€203,165
- Other debts +€1.7m
up €1.7m (+197%), from €878,350 to €2.6m
- Reserves -€1.1m
down €1.1m (-43.6%), from €2.6m to €1.5m
of which Distributable reserves: -€1.1m
- Gross operating margin -€98,211
down €98,211 (-10.0%), from €985,628 to €887,418
- Taxes -€71,271
down €71,271 (-28.1%), from €253,687 to €182,416
- Financial income -€30,010
down €30,010 (-44.4%), from €67,592 to €37,582
- Financial charges +€29,325
up €29,325 (+77.5%), from €37,847 to €67,172
- Staff costs -€12,729
down €12,729 (-5.5%), from €231,157 to €218,427
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 | €3,979,600 | €4,599,092 | +€619,492 | +15.6% |
| Fixed assets | 21/28 | €149,530 | €131,613 | -€17,917 | -12.0% |
| Tangible fixed assets | 22/27 | €149,525 | €131,608 | -€17,917 | -12.0% |
| Land and buildings | 22 | €75,547 | €71,773 | -€3,773 | -5.0% |
| Plant, machinery and equipment | 23 | €53,266 | €43,605 | -€9,662 | -18.1% |
| Furniture and vehicles | 24 | €20,712 | €16,230 | -€4,482 | -21.6% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €3,830,070 | €4,467,479 | +€637,409 | +16.6% |
| Stocks and contracts in progress | 3 | €423,164 | €412,232 | -€10,931 | -2.6% |
| Stocks | 30/36 | €423,164 | €412,232 | -€10,931 | -2.6% |
| Amounts receivable within one year | 40/41 | €686,994 | €917,123 | +€230,129 | +33.5% |
| Trade receivables | 40 | €683,435 | €886,600 | +€203,165 | +29.7% |
| Other amounts receivable | 41 | €3,559 | €30,523 | +€26,964 | +758% |
| Cash at bank and in hand | 54/58 | €2,703,801 | €3,133,815 | +€430,013 | +15.9% |
| Deferred charges and accrued income | 490/1 | €16,111 | €4,309 | -€11,802 | -73.3% |
| Total equity and liabilities | 10/49 | €3,979,600 | €4,599,092 | +€619,492 | +15.6% |
| Equity | 10/15 | €2,673,730 | €1,535,968 | -€1.1m | -42.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €2,599,027 | €1,466,027 | -€1.1m | -43.6% |
| Non-distributable reserves | 130/1 | €21,027 | €21,027 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,027 | €21,027 | = | 0.0% |
| Distributable reserves | 133 | €2,578,000 | €1,445,000 | -€1.1m | -43.9% |
| Profit (loss) carried forward | 14 | €12,730 | €7,968 | -€4,762 | -37.4% |
| Amounts payable | 17/49 | €1,305,870 | €3,063,124 | +€1.8m | +135% |
| Amounts payable within one year | 42/48 | €1,277,718 | €3,002,955 | +€1.7m | +135% |
| Trade debts | 44 | €329,679 | €352,539 | +€22,860 | +6.9% |
| Suppliers | 440/4 | €329,679 | €352,539 | +€22,860 | +6.9% |
| Taxes, remuneration and social security | 45 | €69,690 | €41,210 | -€28,479 | -40.9% |
| Taxes | 450/3 | €43,021 | €6,723 | -€36,298 | -84.4% |
| Remuneration and social security | 454/9 | €26,669 | €34,488 | +€7,819 | +29.3% |
| Other amounts payable | 47/48 | €878,350 | €2,609,206 | +€1.7m | +197% |
| Accrued charges and deferred income | 492/3 | €28,151 | €60,169 | +€32,017 | +114% |
| Non-recurring operating income | 76A | €3,430 | - | -€3,430 | |
| Remuneration, social security and pensions | 62 | €231,157 | €218,427 | -€12,729 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,974 | €25,541 | +€1,567 | +6.5% |
| Other operating charges | 640/8 | €23,953 | €21,706 | -€2,247 | -9.4% |
| Gross operating margin | 9900 | €985,628 | €887,418 | -€98,211 | -10.0% |
| Operating profit (loss) | 9901 | €706,545 | €621,743 | -€84,802 | -12.0% |
| Financial income | 75/76B | €67,592 | €37,582 | -€30,010 | -44.4% |
| Recurring financial income | 75 | €67,592 | €37,582 | -€30,010 | -44.4% |
| Financial charges | 65/66B | €37,847 | €67,172 | +€29,325 | +77.5% |
| Recurring financial charges | 65 | €37,847 | €67,172 | +€29,325 | +77.5% |
| Profit (loss) for the period before taxes | 9903 | €736,291 | €592,153 | -€144,137 | -19.6% |
| Income taxes | 67/77 | €253,687 | €182,416 | -€71,271 | -28.1% |
| Profit (loss) for the period | 9904 | €482,604 | €409,738 | -€72,866 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €482,604 | €409,738 | -€72,866 | -15.1% |
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 18 October 2026 via checked.be.