MIPAT: 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.
MIPAT
Largest movements
- Cash +€5,583
up €5,583 (+13.4%), from €41,786 to €47,369
mainly Net result for the year (+€55,034) and Depreciation (+€1,962)
- Tangible fixed assets -€1,962
down €1,962 (-34.6%), from €5,676 to €3,714
of which Furniture and vehicles: -€1,512
- Receivables within one year +€1,265
up €1,265 (+6.4%), from €19,873 to €21,138
of which Other amounts receivable: +€1,886
- Reserves +€7,247
up €7,247 (+15.2%), from €47,787 to €55,034
- Trade debts -€1,630
down €1,630 (-45.4%), from €3,586 to €1,957
- Gross operating margin +€8,709
up €8,709 (+13.1%), from €66,498 to €75,207
- Taxes +€2,000
up €2,000 (+15.6%), from €12,838 to €14,838
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,673 | €73,636 | +€4,963 | +7.2% |
| Fixed assets | 21/28 | €5,676 | €3,714 | -€1,962 | -34.6% |
| Tangible fixed assets | 22/27 | €5,676 | €3,714 | -€1,962 | -34.6% |
| Plant, machinery and equipment | 23 | €3,783 | €3,333 | -€450 | -11.9% |
| Furniture and vehicles | 24 | €1,893 | €381 | -€1,512 | -79.9% |
| Current assets | 29/58 | €62,997 | €69,922 | +€6,925 | +11.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €19,873 | €21,138 | +€1,265 | +6.4% |
| Trade receivables | 40 | €16,174 | €15,553 | -€621 | -3.8% |
| Other amounts receivable | 41 | €3,699 | €5,586 | +€1,886 | +51.0% |
| Cash at bank and in hand | 54/58 | €41,786 | €47,369 | +€5,583 | +13.4% |
| Deferred charges and accrued income | 490/1 | €1,338 | €1,414 | +€76 | +5.7% |
| Total equity and liabilities | 10/49 | €68,673 | €73,636 | +€4,963 | +7.2% |
| Equity | 10/15 | €50,287 | €57,534 | +€7,247 | +14.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €47,787 | €55,034 | +€7,247 | +15.2% |
| Distributable reserves | 133 | €47,787 | €55,034 | +€7,247 | +15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,386 | €16,102 | -€2,284 | -12.4% |
| Amounts payable within one year | 42/48 | €18,386 | €16,102 | -€2,284 | -12.4% |
| Trade debts | 44 | €3,586 | €1,957 | -€1,630 | -45.4% |
| Suppliers | 440/4 | €3,586 | €1,957 | -€1,630 | -45.4% |
| Taxes, remuneration and social security | 45 | €14,800 | €14,145 | -€655 | -4.4% |
| Taxes | 450/3 | €12,500 | €14,145 | +€1,645 | +13.2% |
| Remuneration and social security | 454/9 | €2,300 | €0 | -€2,300 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,410 | €1,962 | -€448 | -18.6% |
| Other operating charges | 640/8 | €1,470 | €1,658 | +€188 | +12.8% |
| Gross operating margin | 9900 | €66,498 | €75,207 | +€8,709 | +13.1% |
| Operating profit (loss) | 9901 | €62,619 | €71,588 | +€8,969 | +14.3% |
| Financial income | 75/76B | €453 | €252 | -€202 | -44.5% |
| Recurring financial income | 75 | €453 | €252 | -€202 | -44.5% |
| Financial charges | 65/66B | €2,447 | €1,967 | -€480 | -19.6% |
| Recurring financial charges | 65 | €2,447 | €1,967 | -€480 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €60,625 | €69,872 | +€9,247 | +15.3% |
| Income taxes | 67/77 | €12,838 | €14,838 | +€2,000 | +15.6% |
| Profit (loss) for the period | 9904 | €47,787 | €55,034 | +€7,247 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,787 | €55,034 | +€7,247 | +15.2% |
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 31 October 2026 via checked.be.