MIPC: 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.
MIPC
Largest movements
- Cash +€12,470
up €12,470 (+260%), from €4,794 to €17,264
mainly Receivables within one year (+€5,669) and Tax, wage and social debts (+€5,531)
- Receivables within one year -€5,669
down €5,669 (-43.0%), from €13,169 to €7,500
of which Other amounts receivable: -€7,146
- Deferred charges and accrued income +€2,739
new in 2025: €2,739
- Financial fixed assets -€1,089
down €1,089 (-39.2%), from €2,781 to €1,692
- Tangible fixed assets -€775
down €775 (-25.0%), from €3,100 to €2,325
- Tax, wage and social debts +€5,531
new in 2025: €5,531
- Other debts +€4,855
up €4,855 (+82.4%), from €5,891 to €10,746
- Trade debts -€3,016
down €3,016 (-59.5%), from €5,067 to €2,051
- Profit (loss) carried forward +€387
up €387 (+1.4%), from -€28,166 to -€27,779
- Gross operating margin +€29,632
up €29,632, from -€11,358 to €18,274
- Other operating charges +€15,552
up €15,552 (+11,069%), from €141 to €15,693
- Depreciation -€4,139
down €4,139 (-84.2%), from €4,914 to €775
- Write-downs +€1,023
new in 2025: €1,023
- Taxes +€685
no longer reported in 2025 (was -€685)
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 | €27,114 | €34,871 | +€7,757 | +28.6% |
| Fixed assets | 21/28 | €5,881 | €4,017 | -€1,864 | -31.7% |
| Tangible fixed assets | 22/27 | €3,100 | €2,325 | -€775 | -25.0% |
| Plant, machinery and equipment | 23 | €3,100 | €2,325 | -€775 | -25.0% |
| Financial fixed assets | 28 | €2,781 | €1,692 | -€1,089 | -39.2% |
| Current assets | 29/58 | €21,233 | €30,854 | +€9,621 | +45.3% |
| Stocks and contracts in progress | 3 | €3,270 | €3,352 | +€82 | +2.5% |
| Stocks | 30/36 | €3,270 | €3,352 | +€82 | +2.5% |
| Amounts receivable within one year | 40/41 | €13,169 | €7,500 | -€5,669 | -43.0% |
| Trade receivables | 40 | €1,023 | €2,500 | +€1,477 | +144% |
| Other amounts receivable | 41 | €12,146 | €5,000 | -€7,146 | -58.8% |
| Cash at bank and in hand | 54/58 | €4,794 | €17,264 | +€12,470 | +260% |
| Deferred charges and accrued income | 490/1 | - | €2,739 | +€2,739 | |
| Total equity and liabilities | 10/49 | €27,114 | €34,871 | +€7,757 | +28.6% |
| Equity | 10/15 | €16,155 | €16,543 | +€387 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,722 | €25,722 | = | 0.0% |
| 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 | €23,862 | €23,862 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,166 | -€27,779 | +€387 | +1.4% |
| Amounts payable | 17/49 | €10,958 | €18,328 | +€7,370 | +67.3% |
| Amounts payable within one year | 42/48 | €10,958 | €18,328 | +€7,370 | +67.3% |
| Trade debts | 44 | €5,067 | €2,051 | -€3,016 | -59.5% |
| Suppliers | 440/4 | €5,067 | €2,051 | -€3,016 | -59.5% |
| Taxes, remuneration and social security | 45 | - | €5,531 | +€5,531 | |
| Taxes | 450/3 | - | €5,531 | +€5,531 | |
| Other amounts payable | 47/48 | €5,891 | €10,746 | +€4,855 | +82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,914 | €775 | -€4,139 | -84.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,023 | +€1,023 | |
| Other operating charges | 640/8 | €141 | €15,693 | +€15,552 | +11,069% |
| Non-recurring operating charges | 66A | €5,481 | - | -€5,481 | |
| Gross operating margin | 9900 | -€11,358 | €18,274 | +€29,632 | |
| Operating profit (loss) | 9901 | -€21,893 | €784 | +€22,677 | |
| Financial income | 75/76B | €179 | - | -€179 | |
| Recurring financial income | 75 | €179 | - | -€179 | |
| Financial charges | 65/66B | €328 | €396 | +€68 | +20.7% |
| Recurring financial charges | 65 | €328 | €396 | +€68 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | -€22,042 | €387 | +€22,430 | |
| Income taxes | 67/77 | -€685 | - | +€685 | |
| Profit (loss) for the period | 9904 | -€21,357 | €387 | +€21,745 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,357 | €387 | +€21,745 |
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 23 October 2026 via checked.be.