MIPI: 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.
MIPI
Largest movements
- Receivables within one year +€57,155
up €57,155 (+261.6%), from €21,847 to €79,002
of which Trade receivables: +€59,055
- Intangible fixed assets +€16,244
new in 2025: €16,244
- Cash +€14,478
up €14,478 (+23.8%), from €60,887 to €75,364
mainly Trade debts (+€41,941) and Net result for the year (+€38,947)
- Current investments +€12,000
up €12,000 (+300.0%), from €4,000 to €16,000
- Trade debts +€41,941
up €41,941 (+184.3%), from €22,763 to €64,704
- Profit (loss) carried forward +€38,947
up €38,947 (+81.0%), from €48,100 to €87,047
- Other debts +€12,464
up €12,464 (+255.0%), from €4,887 to €17,352
- Tax, wage and social debts +€8,722
up €8,722 (+44.6%), from €19,537 to €28,259
of which Taxes: +€7,147
- Current portion of long-term debt -€2,542
no longer reported in 2025 (was €2,542)
- Gross operating margin +€37,938
up €37,938 (+117.0%), from €32,432 to €70,370
- Taxes +€9,440
up €9,440 (+125.2%), from €7,538 to €16,979
- Staff costs +€2,128
new in 2025: €2,128
- Depreciation +€2,048
up €2,048 (+24.0%), from €8,546 to €10,594
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 | €104,830 | €205,166 | +€100,335 | +95.7% |
| Fixed assets | 21/28 | €15,899 | €33,438 | +€17,538 | +110.3% |
| Intangible fixed assets | 21 | - | €16,244 | +€16,244 | |
| Tangible fixed assets | 22/27 | €15,899 | €16,831 | +€932 | +5.9% |
| Land and buildings | 22 | €3,908 | €8,897 | +€4,990 | +127.7% |
| Plant, machinery and equipment | 23 | €511 | €3,583 | +€3,071 | +600.5% |
| Furniture and vehicles | 24 | €11,480 | €4,351 | -€7,129 | -62.1% |
| Financial fixed assets | 28 | - | €363 | +€363 | |
| Current assets | 29/58 | €88,931 | €171,728 | +€82,797 | +93.1% |
| Amounts receivable within one year | 40/41 | €21,847 | €79,002 | +€57,155 | +261.6% |
| Trade receivables | 40 | €17,347 | €76,402 | +€59,055 | +340.4% |
| Other amounts receivable | 41 | €4,500 | €2,600 | -€1,900 | -42.2% |
| Current investments | 50/53 | €4,000 | €16,000 | +€12,000 | +300.0% |
| Cash at bank and in hand | 54/58 | €60,887 | €75,364 | +€14,478 | +23.8% |
| Deferred charges and accrued income | 490/1 | €2,198 | €1,362 | -€835 | -38.0% |
| Total equity and liabilities | 10/49 | €104,830 | €205,166 | +€100,335 | +95.7% |
| Equity | 10/15 | €55,100 | €94,047 | +€38,947 | +70.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,100 | €87,047 | +€38,947 | +81.0% |
| Amounts payable | 17/49 | €49,730 | €111,119 | +€61,389 | +123.4% |
| Amounts payable within one year | 42/48 | €49,730 | €111,119 | +€61,389 | +123.4% |
| Current portion of amounts payable after more than one year | 42 | €2,542 | - | -€2,542 | |
| Trade debts | 44 | €22,763 | €64,704 | +€41,941 | +184.3% |
| Suppliers | 440/4 | €22,763 | €64,704 | +€41,941 | +184.3% |
| Advances received on contracts in progress | 46 | - | €804 | +€804 | |
| Taxes, remuneration and social security | 45 | €19,537 | €28,259 | +€8,722 | +44.6% |
| Taxes | 450/3 | €19,537 | €26,684 | +€7,147 | +36.6% |
| Remuneration and social security | 454/9 | - | €1,575 | +€1,575 | |
| Other amounts payable | 47/48 | €4,887 | €17,352 | +€12,464 | +255.0% |
| Remuneration, social security and pensions | 62 | - | €2,128 | +€2,128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,546 | €10,594 | +€2,048 | +24.0% |
| Other operating charges | 640/8 | €1,066 | €1,493 | +€427 | +40.0% |
| Gross operating margin | 9900 | €32,432 | €70,370 | +€37,938 | +117.0% |
| Operating profit (loss) | 9901 | €22,820 | €56,155 | +€33,335 | +146.1% |
| Financial income | 75/76B | €9 | €452 | +€442 | +4781.1% |
| Recurring financial income | 75 | €9 | €342 | +€332 | +3592.0% |
| Non-recurring financial income | 76B | - | €110 | +€110 | |
| Financial charges | 65/66B | €114 | €681 | +€567 | +499.0% |
| Recurring financial charges | 65 | €114 | €681 | +€567 | +499.0% |
| Profit (loss) for the period before taxes | 9903 | €22,715 | €55,925 | +€33,210 | +146.2% |
| Income taxes | 67/77 | €7,538 | €16,979 | +€9,440 | +125.2% |
| Profit (loss) for the period | 9904 | €15,177 | €38,947 | +€23,770 | +156.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,177 | €38,947 | +€23,770 | +156.6% |
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 11 October 2026 via checked.be.