MIP GROUP: 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.
MIP GROUP
Largest movements
- Tangible fixed assets -€19,436
down €19,436 (-2.0%), from €977,124 to €957,688
- Cash +€14,028
up €14,028 (+28.0%), from €50,127 to €64,155
mainly Net result for the year (+€75,194) and Depreciation (+€41,519)
- Debts after one year -€79,153
down €79,153 (-24.0%), from €329,987 to €250,834
- Reserves +€75,100
up €75,100 (+20.4%), from €367,760 to €442,860
- Gross operating margin +€11,560
up €11,560 (+7.0%), from €164,474 to €176,034
- Taxes +€4,963
up €4,963 (+19.3%), from €25,656 to €30,619
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 | €1,037,701 | €1,028,962 | -€8,739 | -0.8% |
| Fixed assets | 21/28 | €977,124 | €957,688 | -€19,436 | -2.0% |
| Tangible fixed assets | 22/27 | €977,124 | €957,688 | -€19,436 | -2.0% |
| Land and buildings | 22 | €977,124 | €957,688 | -€19,436 | -2.0% |
| Current assets | 29/58 | €60,577 | €71,274 | +€10,697 | +17.7% |
| Amounts receivable within one year | 40/41 | €3,468 | - | -€3,468 | |
| Other amounts receivable | 41 | €3,468 | - | -€3,468 | |
| Cash at bank and in hand | 54/58 | €50,127 | €64,155 | +€14,028 | +28.0% |
| Deferred charges and accrued income | 490/1 | €6,982 | €7,119 | +€137 | +2.0% |
| Total equity and liabilities | 10/49 | €1,037,701 | €1,028,962 | -€8,739 | -0.8% |
| Equity | 10/15 | €386,651 | €461,845 | +€75,194 | +19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €367,760 | €442,860 | +€75,100 | +20.4% |
| Distributable reserves | 133 | €367,760 | €442,860 | +€75,100 | +20.4% |
| Profit (loss) carried forward | 14 | €291 | €385 | +€94 | +32.2% |
| Amounts payable | 17/49 | €651,049 | €567,117 | -€83,933 | -12.9% |
| Amounts payable after more than one year | 17 | €329,987 | €250,834 | -€79,153 | -24.0% |
| Financial debts | 170/4 | €329,987 | €250,834 | -€79,153 | -24.0% |
| Amounts payable within one year | 42/48 | €321,062 | €316,283 | -€4,779 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €78,101 | €79,153 | +€1,052 | +1.3% |
| Financial debts | 43 | €12,012 | €9,943 | -€2,070 | -17.2% |
| Credit institutions | 430/8 | €12,012 | €9,943 | -€2,070 | -17.2% |
| Trade debts | 44 | €1,050 | €1,825 | +€775 | +73.8% |
| Suppliers | 440/4 | €1,050 | €1,825 | +€775 | +73.8% |
| Taxes, remuneration and social security | 45 | €1,656 | €6,619 | +€4,963 | +299.7% |
| Taxes | 450/3 | €1,656 | €6,619 | +€4,963 | +299.7% |
| Other amounts payable | 47/48 | €228,243 | €218,743 | -€9,500 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,428 | €41,519 | +€91 | +0.2% |
| Other operating charges | 640/8 | €21,940 | €22,747 | +€807 | +3.7% |
| Gross operating margin | 9900 | €164,474 | €176,034 | +€11,560 | +7.0% |
| Operating profit (loss) | 9901 | €101,106 | €111,768 | +€10,662 | +10.5% |
| Financial charges | 65/66B | €7,025 | €5,955 | -€1,070 | -15.2% |
| Recurring financial charges | 65 | €7,025 | €5,955 | -€1,070 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €94,081 | €105,813 | +€11,732 | +12.5% |
| Income taxes | 67/77 | €25,656 | €30,619 | +€4,963 | +19.3% |
| Profit (loss) for the period | 9904 | €68,425 | €75,194 | +€6,769 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,425 | €75,194 | +€6,769 | +9.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.