MIPRA: 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.
MIPRA
Largest movements
- Cash +€25,053
up €25,053 (+5.1%), from €493,191 to €518,244
mainly Other debts (+€384,189) and Net result for the year (+€58,135)
- Receivables within one year +€20,862
up €20,862 (+57.1%), from €36,531 to €57,393
of which Trade receivables: +€24,199
- Other debts +€384,189
up €384,189 (+504%), from €76,155 to €460,344
- Reserves -€330,865
down €330,865 (-58.8%), from €562,422 to €231,556
of which Distributable reserves: -€330,865
- Tax, wage and social debts -€8,381
down €8,381 (-69.3%), from €12,087 to €3,706
of which Remuneration and social security: -€4,601
- Gross operating margin -€19,073
down €19,073 (-17.9%), from €106,619 to €87,546
- Taxes -€5,541
down €5,541 (-19.1%), from €29,032 to €23,490
- Financial charges +€2,467
up €2,467 (+60.1%), from €4,105 to €6,572
- Financial income +€1,961
up €1,961 (+57.2%), from €3,431 to €5,392
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 | €669,307 | €718,079 | +€48,772 | +7.3% |
| Fixed assets | 21/28 | €3,448 | €1,581 | -€1,867 | -54.2% |
| Tangible fixed assets | 22/27 | €3,448 | €1,581 | -€1,867 | -54.2% |
| Land and buildings | 22 | €3,362 | €419 | -€2,943 | -87.5% |
| Furniture and vehicles | 24 | €86 | €1,162 | +€1,076 | +1,253% |
| Current assets | 29/58 | €665,858 | €716,498 | +€50,640 | +7.6% |
| Amounts receivable after more than one year | 29 | €135,000 | €135,000 | = | 0.0% |
| Other amounts receivable | 291 | €135,000 | €135,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €36,531 | €57,393 | +€20,862 | +57.1% |
| Trade receivables | 40 | €24,201 | €48,400 | +€24,199 | +100.0% |
| Other amounts receivable | 41 | €12,330 | €8,993 | -€3,337 | -27.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €493,191 | €518,244 | +€25,053 | +5.1% |
| Deferred charges and accrued income | 490/1 | €1,136 | €5,860 | +€4,724 | +416% |
| Total equity and liabilities | 10/49 | €669,307 | €718,079 | +€48,772 | +7.3% |
| Equity | 10/15 | €581,022 | €250,156 | -€330,865 | -56.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €562,422 | €231,556 | -€330,865 | -58.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €562,422 | €231,556 | -€330,865 | -58.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €88,285 | €467,922 | +€379,637 | +430% |
| Amounts payable within one year | 42/48 | €88,285 | €464,660 | +€376,375 | +426% |
| Financial debts | 43 | €43 | €557 | +€514 | +1,205% |
| Credit institutions | 430/8 | €43 | €557 | +€514 | +1,205% |
| Trade debts | 44 | €0 | €53 | +€53 | |
| Suppliers | 440/4 | €0 | €53 | +€53 | |
| Taxes, remuneration and social security | 45 | €12,087 | €3,706 | -€8,381 | -69.3% |
| Taxes | 450/3 | €7,486 | €3,706 | -€3,780 | -50.5% |
| Remuneration and social security | 454/9 | €4,601 | €0 | -€4,601 | -100% |
| Other amounts payable | 47/48 | €76,155 | €460,344 | +€384,189 | +504% |
| Accrued charges and deferred income | 492/3 | - | €3,262 | +€3,262 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,350 | €3,519 | +€169 | +5.1% |
| Other operating charges | 640/8 | €2,121 | €1,222 | -€899 | -42.4% |
| Gross operating margin | 9900 | €106,619 | €87,546 | -€19,073 | -17.9% |
| Operating profit (loss) | 9901 | €101,148 | €82,805 | -€18,343 | -18.1% |
| Financial income | 75/76B | €3,431 | €5,392 | +€1,961 | +57.2% |
| Recurring financial income | 75 | €3,431 | €5,392 | +€1,961 | +57.2% |
| Financial charges | 65/66B | €4,105 | €6,572 | +€2,467 | +60.1% |
| Recurring financial charges | 65 | €4,105 | €6,572 | +€2,467 | +60.1% |
| Profit (loss) for the period before taxes | 9903 | €100,474 | €81,625 | -€18,849 | -18.8% |
| Income taxes | 67/77 | €29,032 | €23,490 | -€5,541 | -19.1% |
| Profit (loss) for the period | 9904 | €71,442 | €58,135 | -€13,307 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €71,442 | €58,135 | -€13,307 | -18.6% |
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 18 October 2026 via checked.be.