MIPA: 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.
MIPA
Largest movements
- Deferred charges and accrued income -€82,238
down €82,238 (-98.3%), from €83,630 to €1,392
- Receivables within one year -€49,946
down €49,946 (-66.2%), from €75,503 to €25,557
of which Other amounts receivable: -€51,195
- Cash -€11,198
down €11,198 (-100.0%), from €11,198 to €0
mainly Advances received (-€46,993) and Trade debts (-€45,508)
- Tangible fixed assets -€4,734
down €4,734 (-15.8%), from €30,011 to €25,277
of which Furniture and vehicles: -€2,461
- Advances received -€46,993
down €46,993 (-100.0%), from €46,993 to €0
- Trade debts -€45,508
down €45,508 (-95.4%), from €47,683 to €2,175
- Reserves -€33,838
down €33,838 (-52.9%), from €64,006 to €30,168
of which Distributable reserves: -€33,838
- Other debts -€25,685
down €25,685 (-100.0%), from €25,685 to €0
- Short-term financial debts +€2,247
new in 2025: €2,247
- Gross operating margin -€3,290
down €3,290 (-15.4%), from -€21,331 to -€24,620
- Other operating charges +€1,861
up €1,861 (+70.3%), from €2,647 to €4,508
- Financial income +€837
new in 2025: €837
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 | €200,342 | €52,226 | -€148,116 | -73.9% |
| Fixed assets | 21/28 | €30,011 | €25,277 | -€4,734 | -15.8% |
| Tangible fixed assets | 22/27 | €30,011 | €25,277 | -€4,734 | -15.8% |
| Land and buildings | 22 | €22,517 | €20,244 | -€2,273 | -10.1% |
| Furniture and vehicles | 24 | €7,494 | €5,032 | -€2,461 | -32.8% |
| Current assets | 29/58 | €170,331 | €26,949 | -€143,382 | -84.2% |
| Amounts receivable within one year | 40/41 | €75,503 | €25,557 | -€49,946 | -66.2% |
| Trade receivables | 40 | €222 | €1,471 | +€1,249 | +561.8% |
| Other amounts receivable | 41 | €75,281 | €24,086 | -€51,195 | -68.0% |
| Cash at bank and in hand | 54/58 | €11,198 | €0 | -€11,198 | -100.0% |
| Deferred charges and accrued income | 490/1 | €83,630 | €1,392 | -€82,238 | -98.3% |
| Total equity and liabilities | 10/49 | €200,342 | €52,226 | -€148,116 | -73.9% |
| Equity | 10/15 | €70,211 | €36,373 | -€33,838 | -48.2% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €64,006 | €30,168 | -€33,838 | -52.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €62,146 | €28,308 | -€33,838 | -54.4% |
| Amounts payable | 17/49 | €130,131 | €15,853 | -€114,278 | -87.8% |
| Amounts payable within one year | 42/48 | €130,131 | €15,853 | -€114,278 | -87.8% |
| Financial debts | 43 | - | €2,247 | +€2,247 | |
| Credit institutions | 430/8 | - | €2,247 | +€2,247 | |
| Trade debts | 44 | €47,683 | €2,175 | -€45,508 | -95.4% |
| Suppliers | 440/4 | €47,683 | €2,175 | -€45,508 | -95.4% |
| Advances received on contracts in progress | 46 | €46,993 | €0 | -€46,993 | -100.0% |
| Taxes, remuneration and social security | 45 | €9,771 | €11,431 | +€1,660 | +17.0% |
| Taxes | 450/3 | €9,771 | €11,431 | +€1,660 | +17.0% |
| Other amounts payable | 47/48 | €25,685 | €0 | -€25,685 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,573 | €4,734 | +€162 | +3.5% |
| Other operating charges | 640/8 | €2,647 | €4,508 | +€1,861 | +70.3% |
| Gross operating margin | 9900 | -€21,331 | -€24,620 | -€3,290 | -15.4% |
| Operating profit (loss) | 9901 | -€28,550 | -€33,862 | -€5,312 | -18.6% |
| Financial income | 75/76B | - | €837 | +€837 | |
| Recurring financial income | 75 | - | €837 | +€837 | |
| Financial charges | 65/66B | €402 | €501 | +€99 | +24.6% |
| Recurring financial charges | 65 | €402 | €501 | +€99 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,953 | -€33,527 | -€4,574 | -15.8% |
| Income taxes | 67/77 | €319 | €311 | -€8 | -2.4% |
| Profit (loss) for the period | 9904 | -€29,272 | -€33,838 | -€4,566 | -15.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,272 | -€33,838 | -€4,566 | -15.6% |
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 10 October 2026 via checked.be.