MIQUO: 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.
MIQUO
Largest movements
- Tangible fixed assets -€5,700
down €5,700 (-50.0%), from €11,400 to €5,700
- Current investments -€5,298
down €5,298 (-7.5%), from €70,323 to €65,025
- Cash -€3,487
down €3,487 (-96.7%), from €3,606 to €119
mainly Net result for the year (-€6,329) and Debts after one year (-€5,640)
- Receivables within one year +€1,019
up €1,019 (+522%), from €195 to €1,214
of which Trade receivables: +€734
- Profit (loss) carried forward -€6,329
down €6,329 (-26.5%), from -€23,850 to -€30,178
- Debts after one year -€5,640
down €5,640 (-9.2%), from €61,338 to €55,699
of which Financial debts: -€18,200
- Tax, wage and social debts -€2,255
down €2,255 (-35.2%), from €6,414 to €4,159
- Current portion of long-term debt +€1,400
up €1,400 (+8.3%), from €16,800 to €18,200
- Gross operating margin -€18,844
down €18,844 (-70.6%), from €26,701 to €7,857
- Taxes -€2,156
down €2,156 (-69.1%), from €3,120 to €965
- Other operating charges -€698
down €698 (-26.3%), from €2,651 to €1,954
- Staff costs +€341
no longer reported in 2025 (was -€341)
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 | €85,644 | €72,178 | -€13,466 | -15.7% |
| Fixed assets | 21/28 | €11,520 | €5,820 | -€5,700 | -49.5% |
| Tangible fixed assets | 22/27 | €11,400 | €5,700 | -€5,700 | -50.0% |
| Furniture and vehicles | 24 | €11,400 | €5,700 | -€5,700 | -50.0% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €74,124 | €66,358 | -€7,766 | -10.5% |
| Amounts receivable within one year | 40/41 | €195 | €1,214 | +€1,019 | +522% |
| Trade receivables | 40 | €195 | €929 | +€734 | +376% |
| Other amounts receivable | 41 | - | €285 | +€285 | |
| Current investments | 50/53 | €70,323 | €65,025 | -€5,298 | -7.5% |
| Cash at bank and in hand | 54/58 | €3,606 | €119 | -€3,487 | -96.7% |
| Total equity and liabilities | 10/49 | €85,644 | €72,178 | -€13,466 | -15.7% |
| Equity | 10/15 | -€1,195 | -€7,524 | -€6,329 | -530% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €21,155 | €21,155 | = | 0.0% |
| Distributable reserves | 133 | €21,155 | €21,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,850 | -€30,178 | -€6,329 | -26.5% |
| Amounts payable | 17/49 | €86,839 | €79,702 | -€7,138 | -8.2% |
| Amounts payable after more than one year | 17 | €61,338 | €55,699 | -€5,640 | -9.2% |
| Financial debts | 170/4 | €18,200 | - | -€18,200 | |
| Other amounts payable | 178/9 | €43,138 | €55,699 | +€12,560 | +29.1% |
| Amounts payable within one year | 42/48 | €25,501 | €24,003 | -€1,498 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €16,800 | €18,200 | +€1,400 | +8.3% |
| Financial debts | 43 | €431 | €435 | +€4 | +1.0% |
| Credit institutions | 430/8 | €431 | €435 | +€4 | +1.0% |
| Trade debts | 44 | €1,856 | €1,208 | -€648 | -34.9% |
| Suppliers | 440/4 | €1,856 | €1,208 | -€648 | -34.9% |
| Taxes, remuneration and social security | 45 | €6,414 | €4,159 | -€2,255 | -35.2% |
| Taxes | 450/3 | €6,414 | €4,159 | -€2,255 | -35.2% |
| Non-recurring operating income | 76A | €37 | €262 | +€225 | +601% |
| Remuneration, social security and pensions | 62 | -€341 | - | +€341 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,750 | €5,700 | -€50 | -0.9% |
| Other operating charges | 640/8 | €2,651 | €1,954 | -€698 | -26.3% |
| Non-recurring operating charges | 66A | €10,366 | €5,241 | -€5,124 | -49.4% |
| Gross operating margin | 9900 | €26,701 | €7,857 | -€18,844 | -70.6% |
| Operating profit (loss) | 9901 | €8,275 | -€5,038 | -€13,313 | |
| Financial income | 75/76B | €228 | €106 | -€122 | -53.6% |
| Recurring financial income | 75 | €228 | €106 | -€122 | -53.6% |
| Financial charges | 65/66B | €677 | €432 | -€246 | -36.3% |
| Recurring financial charges | 65 | €677 | €432 | -€246 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €7,825 | -€5,364 | -€13,189 | |
| Income taxes | 67/77 | €3,120 | €965 | -€2,156 | -69.1% |
| Profit (loss) for the period | 9904 | €4,705 | -€6,329 | -€11,034 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,705 | -€6,329 | -€11,034 |
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 17 October 2026 via checked.be.