MIRAC 19: 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.
MIRAC 19
Largest movements
- Cash +€908
up €908 (+195%), from €467 to €1,375
mainly Other debts (+€3,543) and Receivables within one year (+€300)
- Receivables within one year -€300
no longer reported in 2025 (was €300)
- Deferred charges and accrued income -€103
down €103 (-10.2%), from €1,018 to €914
- Stocks and contracts +€101
up €101 (+316%), from €32 to €134
- Other debts +€3,543
up €3,543 (+93.6%), from €3,784 to €7,326
- Profit (loss) carried forward -€2,307
down €2,307 (-48.6%), from -€4,747 to -€7,054
- Tax, wage and social debts -€630
down €630 (-87.5%), from €720 to €90
of which Remuneration and social security: -€720
- Gross operating margin -€2,459
down €2,459, from €591 to -€1,869
- Other operating charges +€400
new in 2025: €400
- Depreciation -€123
no longer reported in 2025 (was €123)
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 | €1,817 | €2,422 | +€606 | +33.4% |
| Current assets | 29/58 | €1,817 | €2,422 | +€606 | +33.4% |
| Stocks and contracts in progress | 3 | €32 | €134 | +€101 | +316% |
| Stocks | 30/36 | €32 | €134 | +€101 | +316% |
| Amounts receivable within one year | 40/41 | €300 | - | -€300 | |
| Trade receivables | 40 | €300 | - | -€300 | |
| Cash at bank and in hand | 54/58 | €467 | €1,375 | +€908 | +195% |
| Deferred charges and accrued income | 490/1 | €1,018 | €914 | -€103 | -10.2% |
| Total equity and liabilities | 10/49 | €1,817 | €2,422 | +€606 | +33.4% |
| Equity | 10/15 | -€2,747 | -€5,054 | -€2,307 | -84.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,747 | -€7,054 | -€2,307 | -48.6% |
| Amounts payable | 17/49 | €4,564 | €7,477 | +€2,913 | +63.8% |
| Amounts payable within one year | 42/48 | €4,564 | €7,477 | +€2,913 | +63.8% |
| Trade debts | 44 | €61 | €61 | = | 0.0% |
| Suppliers | 440/4 | €61 | €61 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €720 | €90 | -€630 | -87.5% |
| Taxes | 450/3 | - | €90 | +€90 | |
| Remuneration and social security | 454/9 | €720 | - | -€720 | |
| Other amounts payable | 47/48 | €3,784 | €7,326 | +€3,543 | +93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123 | - | -€123 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €591 | -€1,869 | -€2,459 | |
| Operating profit (loss) | 9901 | €468 | -€2,269 | -€2,736 | |
| Financial charges | 65/66B | €35 | €38 | +€3 | +9.1% |
| Recurring financial charges | 65 | €35 | €38 | +€3 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €433 | -€2,307 | -€2,740 | |
| Profit (loss) for the period | 9904 | €433 | -€2,307 | -€2,740 | |
| Profit (loss) for the period to be appropriated | 9905 | €433 | -€2,307 | -€2,740 |
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 21 October 2026 via checked.be.