MIPA FROST: 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.
What changed
MIPA FROST
NACE 52.100, Warehousing and storage
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,675
2024 · -€13,783+€16,458
Equity
€1.1m
2024 · €1.1m+€2,675
Cash
€304,151
2024 · €308,001-€3,849
Balance sheet total
€7.4m
2024 · €7.5m-€133,052
Largest movements
Assets
- Tangible fixed assets -€131,590
down €131,590 (-7.1%), from €1.9m to €1.7m
of which Leasing and similar rights: -€173,507
- Receivables after one year +€87,234
up €87,234 (+37.0%), from €235,621 to €322,855
- Receivables within one year -€81,677
down €81,677 (-23.6%), from €346,357 to €264,680
of which Other amounts receivable: -€168,480
Equity and liabilities
- Debts after one year -€337,890
down €337,890 (-16.9%), from €2.0m to €1.7m
- Trade debts +€153,146
up €153,146 (+72.9%), from €210,027 to €363,173
Income statement
- Financial charges -€8,945
down €8,945 (-4.8%), from €186,492 to €177,547
- Financial income +€8,036
up €8,036 (+90.5%), from €8,879 to €16,915
- Other operating charges -€7,906
down €7,906 (-42.3%), from €18,708 to €10,802
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.
Result 2024
-€13,783
Gross operating margin
-€1,827
Depreciation
-€3,599
Other operating charges
+€7,906
Financial income
+€8,036
Financial charges
+€8,945
Taxes
-€3,003
Result 2025
€2,675
raises the resultlowers the result
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.
From operations
+€432,686
Investment
-€140,184
Financing
-€296,351
Cash 2024
€308,001
From operations (derived)
+€432,686
Net result for the year
+€2,675
Depreciation
+€271,774
Receivables after one year
-€87,234
Stocks and contracts
+€12,755
Receivables within one year
+€81,677
Deferred charges and accrued income
-€9,585
Provisions
-€16,241
Trade debts
+€153,146
Tax, wage and social debts
+€12,217
Other debts
+€11,223
Accrued charges and deferred income
+€280
Investment (derived)
-€140,184
Investment in fixed assets (net)
-€140,184
Financing
-€296,351
Debts after one year
-€337,890
Current portion of long-term debt
+€7,964
Short-term financial debts
+€33,574
Cash 2025
€304,151
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,549,086 | €7,416,034 | -€133,052 | -1.8% |
| Fixed assets | 21/28 | €6,615,653 | €6,484,063 | -€131,590 | -2.0% |
| Tangible fixed assets | 22/27 | €1,863,302 | €1,731,712 | -€131,590 | -7.1% |
| Land and buildings | 22 | €444,819 | €518,529 | +€73,710 | +16.6% |
| Plant, machinery and equipment | 23 | €93,474 | €92,583 | -€892 | -1.0% |
| Furniture and vehicles | 24 | €36,175 | €20,483 | -€15,691 | -43.4% |
| Leasing and similar rights | 25 | €1,043,284 | €869,777 | -€173,507 | -16.6% |
| Other tangible fixed assets | 26 | €245,551 | €230,340 | -€15,210 | -6.2% |
| Financial fixed assets | 28 | €4,752,351 | €4,752,351 | = | 0.0% |
| Current assets | 29/58 | €933,433 | €931,971 | -€1,462 | -0.2% |
| Amounts receivable after more than one year | 29 | €235,621 | €322,855 | +€87,234 | +37.0% |
| Other amounts receivable | 291 | €235,621 | €322,855 | +€87,234 | +37.0% |
| Stocks and contracts in progress | 3 | €12,755 | - | -€12,755 | |
| Stocks | 30/36 | €12,755 | - | -€12,755 | |
| Amounts receivable within one year | 40/41 | €346,357 | €264,680 | -€81,677 | -23.6% |
| Trade receivables | 40 | €170,149 | €256,953 | +€86,804 | +51.0% |
| Other amounts receivable | 41 | €176,208 | €7,727 | -€168,480 | -95.6% |
| Cash at bank and in hand | 54/58 | €308,001 | €304,151 | -€3,849 | -1.2% |
| Deferred charges and accrued income | 490/1 | €30,700 | €40,285 | +€9,585 | +31.2% |
| Total equity and liabilities | 10/49 | €7,549,086 | €7,416,034 | -€133,052 | -1.8% |
| Equity | 10/15 | €1,059,374 | €1,062,049 | +€2,675 | +0.3% |
| Contributions | 10/11 | €230,000 | €230,000 | = | 0.0% |
| Reserves | 13 | €843,157 | €843,157 | = | 0.0% |
| Distributable reserves | 133 | €843,157 | €843,157 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,783 | -€11,108 | +€2,675 | +19.4% |
| Provisions and deferred taxes | 16 | €926,241 | €910,000 | -€16,241 | -1.8% |
| Provisions for liabilities and charges | 160/5 | €926,241 | €910,000 | -€16,241 | -1.8% |
| Environmental obligations | 163 | €750,000 | €750,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €176,241 | €160,000 | -€16,241 | -9.2% |
| Amounts payable | 17/49 | €5,563,471 | €5,443,985 | -€119,486 | -2.1% |
| Amounts payable after more than one year | 17 | €1,998,208 | €1,660,318 | -€337,890 | -16.9% |
| Financial debts | 170/4 | €1,998,208 | €1,660,318 | -€337,890 | -16.9% |
| Amounts payable within one year | 42/48 | €3,563,940 | €3,782,065 | +€218,124 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €329,626 | €337,590 | +€7,964 | +2.4% |
| Financial debts | 43 | €34,729 | €68,303 | +€33,574 | +96.7% |
| Credit institutions | 430/8 | €34,729 | €68,303 | +€33,574 | +96.7% |
| Trade debts | 44 | €210,027 | €363,173 | +€153,146 | +72.9% |
| Suppliers | 440/4 | €210,027 | €363,173 | +€153,146 | +72.9% |
| Taxes, remuneration and social security | 45 | €572 | €12,789 | +€12,217 | +2,136% |
| Taxes | 450/3 | €572 | €12,789 | +€12,217 | +2,136% |
| Other amounts payable | 47/48 | €2,988,987 | €3,000,210 | +€11,223 | +0.4% |
| Accrued charges and deferred income | 492/3 | €1,322 | €1,602 | +€280 | +21.2% |
| Non-recurring operating income | 76A | €146,410 | €107,760 | -€38,651 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,176 | €271,774 | +€3,599 | +1.3% |
| Other operating charges | 640/8 | €18,708 | €10,802 | -€7,906 | -42.3% |
| Gross operating margin | 9900 | €450,522 | €448,695 | -€1,827 | -0.4% |
| Operating profit (loss) | 9901 | €163,638 | €166,119 | +€2,480 | +1.5% |
| Financial income | 75/76B | €8,879 | €16,915 | +€8,036 | +90.5% |
| Recurring financial income | 75 | €8,879 | €16,915 | +€8,036 | +90.5% |
| Financial charges | 65/66B | €186,492 | €177,547 | -€8,945 | -4.8% |
| Recurring financial charges | 65 | €186,492 | €177,547 | -€8,945 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,974 | €5,486 | +€19,461 | |
| Income taxes | 67/77 | -€191 | €2,811 | +€3,003 | |
| Profit (loss) for the period | 9904 | -€13,783 | €2,675 | +€16,458 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,783 | €2,675 | +€16,458 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.