MIRAC 26: 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 26
Largest movements
- Cash +€22,400
up €22,400 (+16.5%), from €135,980 to €158,380
mainly Net result for the year (+€42,108) and Tax, wage and social debts (+€10,631)
- Tangible fixed assets +€14,860
up €14,860 (+151%), from €9,841 to €24,700
of which Land and buildings: +€9,880
- Receivables within one year +€5,072
up €5,072 (+84,537%), from €6 to €5,078
of which Trade receivables: +€5,057
- Stocks and contracts +€3,602
up €3,602 (+102%), from €3,523 to €7,126
- Reserves +€42,108
up €42,108 (+35.4%), from €118,813 to €160,921
- Tax, wage and social debts +€10,631
up €10,631 (+42.4%), from €25,078 to €35,708
of which Taxes: +€9,830
- Trade debts -€5,148
down €5,148 (-80.9%), from €6,367 to €1,219
- Staff costs -€41,597
down €41,597 (-32.1%), from €129,685 to €88,088
- Gross operating margin -€16,252
down €16,252 (-9.1%), from €178,085 to €161,833
- Taxes +€12,452
up €12,452 (+140%), from €8,911 to €21,363
- Financial charges -€2,140
down €2,140 (-88.9%), from €2,408 to €268
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 | €157,218 | €204,805 | +€47,587 | +30.3% |
| Fixed assets | 21/28 | €17,641 | €32,500 | +€14,860 | +84.2% |
| Tangible fixed assets | 22/27 | €9,841 | €24,700 | +€14,860 | +151% |
| Land and buildings | 22 | €1,026 | €10,906 | +€9,880 | +963% |
| Plant, machinery and equipment | 23 | €4,822 | €11,696 | +€6,874 | +143% |
| Furniture and vehicles | 24 | €3,992 | €2,098 | -€1,894 | -47.4% |
| Financial fixed assets | 28 | €7,800 | €7,800 | = | 0.0% |
| Current assets | 29/58 | €139,578 | €172,304 | +€32,727 | +23.4% |
| Stocks and contracts in progress | 3 | €3,523 | €7,126 | +€3,602 | +102% |
| Stocks | 30/36 | €3,523 | €7,126 | +€3,602 | +102% |
| Amounts receivable within one year | 40/41 | €6 | €5,078 | +€5,072 | +84,537% |
| Trade receivables | 40 | €6 | €5,063 | +€5,057 | +84,279% |
| Other amounts receivable | 41 | - | €15 | +€15 | |
| Cash at bank and in hand | 54/58 | €135,980 | €158,380 | +€22,400 | +16.5% |
| Deferred charges and accrued income | 490/1 | €69 | €1,721 | +€1,652 | +2,407% |
| Total equity and liabilities | 10/49 | €157,218 | €204,805 | +€47,587 | +30.3% |
| Equity | 10/15 | €123,813 | €165,921 | +€42,108 | +34.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,813 | €160,921 | +€42,108 | +35.4% |
| Distributable reserves | 133 | €118,813 | €160,921 | +€42,108 | +35.4% |
| Amounts payable | 17/49 | €33,405 | €38,884 | +€5,479 | +16.4% |
| Amounts payable within one year | 42/48 | €33,405 | €38,884 | +€5,479 | +16.4% |
| Trade debts | 44 | €6,367 | €1,219 | -€5,148 | -80.9% |
| Suppliers | 440/4 | €6,367 | €1,219 | -€5,148 | -80.9% |
| Taxes, remuneration and social security | 45 | €25,078 | €35,708 | +€10,631 | +42.4% |
| Taxes | 450/3 | €16,132 | €25,962 | +€9,830 | +60.9% |
| Remuneration and social security | 454/9 | €8,945 | €9,746 | +€801 | +9.0% |
| Other amounts payable | 47/48 | €1,960 | €1,956 | -€4 | -0.2% |
| Non-recurring operating income | 76A | €417 | - | -€417 | |
| Remuneration, social security and pensions | 62 | €129,685 | €88,088 | -€41,597 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,708 | €5,340 | -€367 | -6.4% |
| Other operating charges | 640/8 | €5,427 | €4,765 | -€662 | -12.2% |
| Gross operating margin | 9900 | €178,085 | €161,833 | -€16,252 | -9.1% |
| Operating profit (loss) | 9901 | €37,266 | €63,640 | +€26,374 | +70.8% |
| Financial income | 75/76B | €2 | €99 | +€97 | +5,746% |
| Recurring financial income | 75 | €2 | €99 | +€97 | +5,746% |
| Financial charges | 65/66B | €2,408 | €268 | -€2,140 | -88.9% |
| Recurring financial charges | 65 | €2,408 | €268 | -€2,140 | -88.9% |
| Profit (loss) for the period before taxes | 9903 | €34,860 | €63,471 | +€28,611 | +82.1% |
| Income taxes | 67/77 | €8,911 | €21,363 | +€12,452 | +140% |
| Profit (loss) for the period | 9904 | €25,948 | €42,108 | +€16,160 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,948 | €42,108 | +€16,160 | +62.3% |
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.