MIMA: what changed
Two fiscal 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.
MIMA
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Tangible fixed assets +€69,976
up €69,976 (+34.0%), from €205,568 to €275,544
of which Plant, machinery and equipment: +€58,552
- Stocks and contracts +€39,533
up €39,533 (+609.3%), from €6,488 to €46,021
- Cash +€31,664
up €31,664 (+32.3%), from €97,993 to €129,657
mainly Current investments (+€200,000) and Depreciation (+€27,524)
- Reserves -€43,310
down €43,310 (-13.5%), from €319,767 to €276,457
of which Distributable reserves: -€43,310
- Current portion of long-term debt -€18,189
down €18,189 (-85.0%), from €21,394 to €3,204
- Gross operating margin -€52,267
down €52,267, from €40,802 to -€11,466
- Depreciation +€15,151
up €15,151 (+122.4%), from €12,373 to €27,524
- Financial income -€4,164
down €4,164 (-56.7%), from €7,341 to €3,177
- Taxes -€3,046
no longer reported in 2025 (was €3,046)
- Financial charges +€1,632
up €1,632 (+37.5%), from €4,351 to €5,983
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.
Cash bridge derived
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 | €525,423 | €466,615 | -€58,808 | -11.2% |
| Fixed assets | 21/28 | €205,748 | €275,724 | +€69,976 | +34.0% |
| Tangible fixed assets | 22/27 | €205,568 | €275,544 | +€69,976 | +34.0% |
| Land and buildings | 22 | €159,604 | €171,029 | +€11,425 | +7.2% |
| Plant, machinery and equipment | 23 | €45,964 | €104,516 | +€58,552 | +127.4% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €319,674 | €190,891 | -€128,784 | -40.3% |
| Stocks and contracts in progress | 3 | €6,488 | €46,021 | +€39,533 | +609.3% |
| Stocks | 30/36 | €6,488 | €46,021 | +€39,533 | +609.3% |
| Amounts receivable within one year | 40/41 | €14,201 | €14,589 | +€388 | +2.7% |
| Trade receivables | 40 | €4,800 | €10,341 | +€5,541 | +115.4% |
| Other amounts receivable | 41 | €9,401 | €4,248 | -€5,153 | -54.8% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €97,993 | €129,657 | +€31,664 | +32.3% |
| Deferred charges and accrued income | 490/1 | €992 | €624 | -€368 | -37.1% |
| Total equity and liabilities | 10/49 | €525,423 | €466,615 | -€58,808 | -11.2% |
| Equity | 10/15 | €332,296 | €288,986 | -€43,310 | -13.0% |
| Contributions | 10/11 | €12,529 | €12,529 | = | 0.0% |
| Reserves | 13 | €319,767 | €276,457 | -€43,310 | -13.5% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €312,267 | €268,957 | -€43,310 | -13.9% |
| Amounts payable | 17/49 | €193,127 | €177,629 | -€15,498 | -8.0% |
| Amounts payable after more than one year | 17 | €3,204 | - | -€3,204 | |
| Financial debts | 170/4 | €3,204 | - | -€3,204 | |
| Amounts payable within one year | 42/48 | €185,927 | €171,977 | -€13,950 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €21,394 | €3,204 | -€18,189 | -85.0% |
| Trade debts | 44 | €89,164 | €92,469 | +€3,305 | +3.7% |
| Suppliers | 440/4 | €89,164 | €92,469 | +€3,305 | +3.7% |
| Other amounts payable | 47/48 | €75,369 | €76,304 | +€935 | +1.2% |
| Accrued charges and deferred income | 492/3 | €3,995 | €5,651 | +€1,656 | +41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,373 | €27,524 | +€15,151 | +122.4% |
| Other operating charges | 640/8 | €1,704 | €1,514 | -€190 | -11.2% |
| Gross operating margin | 9900 | €40,802 | -€11,466 | -€52,267 | |
| Operating profit (loss) | 9901 | €26,725 | -€40,503 | -€67,228 | |
| Financial income | 75/76B | €7,341 | €3,177 | -€4,164 | -56.7% |
| Recurring financial income | 75 | €7,341 | €3,177 | -€4,164 | -56.7% |
| Financial charges | 65/66B | €4,351 | €5,983 | +€1,632 | +37.5% |
| Recurring financial charges | 65 | €4,351 | €5,983 | +€1,632 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €29,714 | -€43,310 | -€73,024 | |
| Income taxes | 67/77 | €3,046 | - | -€3,046 | |
| Profit (loss) for the period | 9904 | €26,669 | -€43,310 | -€69,978 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,669 | -€43,310 | -€69,978 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.