MIR: 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.
MIR
Largest movements
- Cash +€138,665
up €138,665 (+65.3%), from €212,490 to €351,155
mainly Net result for the year (+€141,646) and Receivables after one year (+€91,867)
- Receivables after one year -€91,867
down €91,867 (-45.2%), from €203,224 to €111,356
- Reserves +€28,877
up €28,877 (+6.2%), from €467,635 to €496,512
- Tax, wage and social debts +€14,998
up €14,998 (+44.7%), from €33,557 to €48,555
of which Taxes: +€14,225
- Gross operating margin +€32,102
up €32,102 (+12.9%), from €248,660 to €280,762
- Depreciation +€5,221
up €5,221 (+20.8%), from €25,069 to €30,290
- Taxes +€4,612
up €4,612 (+8.3%), from €55,765 to €60,377
- Financial charges -€2,942
down €2,942 (-41.3%), from €7,129 to €4,187
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 | €525,857 | €571,101 | +€45,244 | +8.6% |
| Fixed assets | 21/28 | €90,181 | €91,657 | +€1,475 | +1.6% |
| Tangible fixed assets | 22/27 | €90,181 | €91,657 | +€1,475 | +1.6% |
| Plant, machinery and equipment | 23 | €8,497 | €11,258 | +€2,761 | +32.5% |
| Furniture and vehicles | 24 | €6,500 | €16,844 | +€10,344 | +159.1% |
| Other tangible fixed assets | 26 | €75,184 | €63,555 | -€11,629 | -15.5% |
| Current assets | 29/58 | €435,676 | €479,445 | +€43,769 | +10.0% |
| Amounts receivable after more than one year | 29 | €203,224 | €111,356 | -€91,867 | -45.2% |
| Other amounts receivable | 291 | €203,224 | €111,356 | -€91,867 | -45.2% |
| Amounts receivable within one year | 40/41 | €9,625 | €6,535 | -€3,090 | -32.1% |
| Trade receivables | 40 | €6,695 | €4,199 | -€2,496 | -37.3% |
| Other amounts receivable | 41 | €2,930 | €2,336 | -€595 | -20.3% |
| Cash at bank and in hand | 54/58 | €212,490 | €351,155 | +€138,665 | +65.3% |
| Deferred charges and accrued income | 490/1 | €10,337 | €10,398 | +€62 | +0.6% |
| Total equity and liabilities | 10/49 | €525,857 | €571,101 | +€45,244 | +8.6% |
| Equity | 10/15 | €486,235 | €515,112 | +€28,877 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €467,635 | €496,512 | +€28,877 | +6.2% |
| Distributable reserves | 133 | €467,635 | €496,512 | +€28,877 | +6.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €39,622 | €55,990 | +€16,367 | +41.3% |
| Amounts payable within one year | 42/48 | €39,622 | €55,990 | +€16,367 | +41.3% |
| Financial debts | 43 | €75 | €192 | +€117 | +156.4% |
| Credit institutions | 430/8 | €75 | €192 | +€117 | +156.4% |
| Trade debts | 44 | €5,990 | €4,576 | -€1,414 | -23.6% |
| Suppliers | 440/4 | €5,990 | €4,576 | -€1,414 | -23.6% |
| Advances received on contracts in progress | 46 | €0 | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €33,557 | €48,555 | +€14,998 | +44.7% |
| Taxes | 450/3 | €22,714 | €36,939 | +€14,225 | +62.6% |
| Remuneration and social security | 454/9 | €10,844 | €11,616 | +€773 | +7.1% |
| Other amounts payable | 47/48 | €0 | €1,666 | +€1,666 | |
| Remuneration, social security and pensions | 62 | €50,349 | €52,453 | +€2,105 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,069 | €30,290 | +€5,221 | +20.8% |
| Other operating charges | 640/8 | €3,641 | €4,091 | +€449 | +12.3% |
| Gross operating margin | 9900 | €248,660 | €280,762 | +€32,102 | +12.9% |
| Operating profit (loss) | 9901 | €169,601 | €193,928 | +€24,327 | +14.3% |
| Financial income | 75/76B | €14,482 | €12,282 | -€2,200 | -15.2% |
| Recurring financial income | 75 | €14,482 | €12,282 | -€2,200 | -15.2% |
| Financial charges | 65/66B | €7,129 | €4,187 | -€2,942 | -41.3% |
| Recurring financial charges | 65 | €7,129 | €4,187 | -€2,942 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €176,955 | €202,024 | +€25,069 | +14.2% |
| Income taxes | 67/77 | €55,765 | €60,377 | +€4,612 | +8.3% |
| Profit (loss) for the period | 9904 | €121,189 | €141,646 | +€20,457 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €121,189 | €141,646 | +€20,457 | +16.9% |
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 9 October 2026 via checked.be.