MIRABEN: what changed
Two fiscal 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.
MIRABEN
Largest movements
- Receivables within one year +€391,070
up €391,070 (+173.9%), from €224,879 to €615,949
of which Trade receivables: +€401,224
- Stocks and contracts -€17,233
down €17,233 (-45.9%), from €37,509 to €20,277
- Cash +€16,981
up €16,981 (+97.4%), from €17,435 to €34,416
mainly Trade debts (+€378,690) and Stocks and contracts (+€17,233)
- Trade debts +€378,690
up €378,690 (+307.3%), from €123,227 to €501,918
- Tax, wage and social debts +€15,046
up €15,046 (+87.3%), from €17,233 to €32,278
of which Taxes: +€10,687
- Debts after one year -€10,731
down €10,731 (-18.2%), from €59,096 to €48,365
- Depreciation -€6,090
down €6,090 (-49.6%), from €12,284 to €6,194
- Gross operating margin -€6,016
down €6,016 (-9.0%), from €66,706 to €60,690
- Other operating charges -€1,995
down €1,995 (-28.8%), from €6,927 to €4,932
- Staff costs +€1,932
up €1,932 (+6.5%), from €29,580 to €31,512
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 | €306,379 | €691,004 | +€384,625 | +125.5% |
| Fixed assets | 21/28 | €26,556 | €20,363 | -€6,194 | -23.3% |
| Tangible fixed assets | 22/27 | €24,573 | €18,380 | -€6,194 | -25.2% |
| Plant, machinery and equipment | 23 | €643 | - | -€643 | |
| Furniture and vehicles | 24 | €23,930 | €18,380 | -€5,550 | -23.2% |
| Financial fixed assets | 28 | €1,983 | €1,983 | = | 0.0% |
| Current assets | 29/58 | €279,823 | €670,641 | +€390,819 | +139.7% |
| Stocks and contracts in progress | 3 | €37,509 | €20,277 | -€17,233 | -45.9% |
| Stocks | 30/36 | €37,509 | €20,277 | -€17,233 | -45.9% |
| Amounts receivable within one year | 40/41 | €224,879 | €615,949 | +€391,070 | +173.9% |
| Trade receivables | 40 | €187,960 | €589,184 | +€401,224 | +213.5% |
| Other amounts receivable | 41 | €36,918 | €26,765 | -€10,153 | -27.5% |
| Cash at bank and in hand | 54/58 | €17,435 | €34,416 | +€16,981 | +97.4% |
| Total equity and liabilities | 10/49 | €306,379 | €691,004 | +€384,625 | +125.5% |
| Equity | 10/15 | €73,563 | €78,118 | +€4,555 | +6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,725 | €3,725 | = | 0.0% |
| Non-distributable reserves | 130/1 | €633 | €633 | = | 0.0% |
| Reserves not available under the articles | 1311 | €633 | €633 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,092 | €3,092 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,637 | €68,193 | +€4,555 | +7.2% |
| Amounts payable | 17/49 | €232,816 | €612,886 | +€380,070 | +163.2% |
| Amounts payable after more than one year | 17 | €59,096 | €48,365 | -€10,731 | -18.2% |
| Financial debts | 170/4 | €59,096 | €48,365 | -€10,731 | -18.2% |
| Amounts payable within one year | 42/48 | €173,721 | €564,521 | +€390,800 | +225.0% |
| Current portion of amounts payable after more than one year | 42 | €28,958 | €30,120 | +€1,162 | +4.0% |
| Financial debts | 43 | €4,051 | €196 | -€3,854 | -95.2% |
| Credit institutions | 430/8 | €4,051 | €196 | -€3,854 | -95.2% |
| Trade debts | 44 | €123,227 | €501,918 | +€378,690 | +307.3% |
| Suppliers | 440/4 | €123,227 | €501,918 | +€378,690 | +307.3% |
| Taxes, remuneration and social security | 45 | €17,233 | €32,278 | +€15,046 | +87.3% |
| Taxes | 450/3 | €3,717 | €14,404 | +€10,687 | +287.5% |
| Remuneration and social security | 454/9 | €13,516 | €17,875 | +€4,359 | +32.2% |
| Other amounts payable | 47/48 | €253 | €9 | -€244 | -96.4% |
| Remuneration, social security and pensions | 62 | €29,580 | €31,512 | +€1,932 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,284 | €6,194 | -€6,090 | -49.6% |
| Other operating charges | 640/8 | €6,927 | €4,932 | -€1,995 | -28.8% |
| Gross operating margin | 9900 | €66,706 | €60,690 | -€6,016 | -9.0% |
| Operating profit (loss) | 9901 | €17,915 | €18,051 | +€137 | +0.8% |
| Financial income | 75/76B | €3 | €1 | -€2 | -73.1% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -73.1% |
| Financial charges | 65/66B | €10,231 | €10,435 | +€204 | +2.0% |
| Recurring financial charges | 65 | €10,231 | €10,435 | +€204 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €7,686 | €7,617 | -€69 | -0.9% |
| Income taxes | 67/77 | €2,929 | €3,062 | +€133 | +4.5% |
| Profit (loss) for the period | 9904 | €4,758 | €4,555 | -€202 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,758 | €4,555 | -€202 | -4.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.