MIPA: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
MIPA
Largest movements
- Tangible fixed assets -€10,864
down €10,864 (-30.1%), from €36,142 to €25,278
- Stocks and contracts -€2,087
down €2,087 (-8.8%), from €23,768 to €21,681
- Receivables within one year -€1,961
down €1,961 (-34.8%), from €5,640 to €3,679
- Cash -€1,859
down €1,859 (-91.4%), from €2,034 to €175
mainly Net result for the year (-€15,200) and Trade debts (-€2,182)
- Reserves -€15,200
down €15,200 (-52.0%), from €29,228 to €14,028
of which Distributable reserves: -€15,200
- Trade debts -€2,182
down €2,182 (-33.9%), from €6,433 to €4,251
- Other debts +€1,295
up €1,295 (+11.3%), from €11,476 to €12,771
- Tax, wage and social debts -€683
down €683 (-36.8%), from €1,856 to €1,172
- Gross operating margin -€2,442
down €2,442 (-263%), from -€929 to -€3,371
- Depreciation -€782
down €782 (-6.7%), from €11,646 to €10,864
- Financial charges -€132
down €132 (-61.6%), from €215 to €83
- Other operating charges +€123
up €123 (+20.5%), from €603 to €727
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €67,584 | €50,814 | -€16,770 | -24.8% |
| Fixed assets | 21/28 | €36,142 | €25,278 | -€10,864 | -30.1% |
| Tangible fixed assets | 22/27 | €36,142 | €25,278 | -€10,864 | -30.1% |
| Furniture and vehicles | 24 | €36,142 | €25,278 | -€10,864 | -30.1% |
| Current assets | 29/58 | €31,442 | €25,536 | -€5,906 | -18.8% |
| Stocks and contracts in progress | 3 | €23,768 | €21,681 | -€2,087 | -8.8% |
| Stocks | 30/36 | €23,768 | €21,681 | -€2,087 | -8.8% |
| Amounts receivable within one year | 40/41 | €5,640 | €3,679 | -€1,961 | -34.8% |
| Trade receivables | 40 | €5,640 | €3,679 | -€1,961 | -34.8% |
| Cash at bank and in hand | 54/58 | €2,034 | €175 | -€1,859 | -91.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €67,584 | €50,814 | -€16,770 | -24.8% |
| Equity | 10/15 | €47,820 | €32,620 | -€15,200 | -31.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €29,228 | €14,028 | -€15,200 | -52.0% |
| 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 | €27,368 | €12,168 | -€15,200 | -55.5% |
| Amounts payable | 17/49 | €19,764 | €18,194 | -€1,570 | -7.9% |
| Amounts payable within one year | 42/48 | €19,764 | €18,194 | -€1,570 | -7.9% |
| Trade debts | 44 | €6,433 | €4,251 | -€2,182 | -33.9% |
| Suppliers | 440/4 | €6,433 | €4,251 | -€2,182 | -33.9% |
| Taxes, remuneration and social security | 45 | €1,856 | €1,172 | -€683 | -36.8% |
| Taxes | 450/3 | €1,856 | €1,172 | -€683 | -36.8% |
| Other amounts payable | 47/48 | €11,476 | €12,771 | +€1,295 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,646 | €10,864 | -€782 | -6.7% |
| Other operating charges | 640/8 | €603 | €727 | +€123 | +20.5% |
| Gross operating margin | 9900 | -€929 | -€3,371 | -€2,442 | -263% |
| Operating profit (loss) | 9901 | -€13,179 | -€14,962 | -€1,783 | -13.5% |
| Financial income | 75/76B | €2 | €0 | -€2 | -89.6% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -89.6% |
| Financial charges | 65/66B | €215 | €83 | -€132 | -61.6% |
| Recurring financial charges | 65 | €215 | €83 | -€132 | -61.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,392 | -€15,045 | -€1,653 | -12.3% |
| Income taxes | 67/77 | €164 | €155 | -€9 | -5.3% |
| Profit (loss) for the period | 9904 | -€13,556 | -€15,200 | -€1,644 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,556 | -€15,200 | -€1,644 | -12.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.