MiRaEl: 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.
MiRaEl
Largest movements
- Tangible fixed assets +€198,071
up €198,071 (+494%), from €40,125 to €238,196
of which Land and buildings: +€197,664
- Cash +€149,743
up €149,743 (+163%), from €92,027 to €241,770
mainly Net result for the year (+€271,641) and Debts after one year (+€244,011)
- Receivables after one year -€38,000
no longer reported in 2025 (was €38,000)
- Receivables within one year -€10,308
no longer reported in 2025 (was €10,308)
of which Other amounts receivable: -€10,010
- Debts after one year +€244,011
new in 2025: €244,011
- Reserves -€139,517
no longer reported in 2025 (was €139,517)
- Other debts +€129,866
new in 2025: €129,866
- Tax, wage and social debts +€52,373
up €52,373 (+106%), from €49,516 to €101,889
- Current portion of long-term debt +€9,936
new in 2025: €9,936
- Gross operating margin +€226,688
up €226,688 (+147%), from €154,312 to €381,000
- Taxes +€55,517
up €55,517 (+147%), from €37,773 to €93,290
- Financial charges +€6,704
up €6,704 (+13,367%), from €50 to €6,754
- Depreciation +€6,673
up €6,673 (+323%), from €2,064 to €8,737
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 | €194,119 | €493,623 | +€299,504 | +154% |
| Fixed assets | 21/28 | €53,710 | €251,781 | +€198,071 | +369% |
| Tangible fixed assets | 22/27 | €40,125 | €238,196 | +€198,071 | +494% |
| Land and buildings | 22 | €39,796 | €237,460 | +€197,664 | +497% |
| Furniture and vehicles | 24 | €329 | €736 | +€407 | +124% |
| Financial fixed assets | 28 | €13,585 | €13,585 | = | 0.0% |
| Current assets | 29/58 | €140,410 | €241,843 | +€101,433 | +72.2% |
| Amounts receivable after more than one year | 29 | €38,000 | - | -€38,000 | |
| Other amounts receivable | 291 | €38,000 | - | -€38,000 | |
| Amounts receivable within one year | 40/41 | €10,308 | - | -€10,308 | |
| Trade receivables | 40 | €298 | - | -€298 | |
| Other amounts receivable | 41 | €10,010 | - | -€10,010 | |
| Cash at bank and in hand | 54/58 | €92,027 | €241,770 | +€149,743 | +163% |
| Deferred charges and accrued income | 490/1 | €75 | €73 | -€2 | -2.7% |
| Total equity and liabilities | 10/49 | €194,119 | €493,623 | +€299,504 | +154% |
| Equity | 10/15 | €141,017 | €2,659 | -€138,359 | -98.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €139,517 | - | -€139,517 | |
| Distributable reserves | 133 | €139,517 | - | -€139,517 | |
| Profit (loss) carried forward | 14 | - | €1,159 | +€1,159 | |
| Amounts payable | 17/49 | €53,102 | €490,964 | +€437,862 | +825% |
| Amounts payable after more than one year | 17 | - | €244,011 | +€244,011 | |
| Financial debts | 170/4 | - | €244,011 | +€244,011 | |
| Amounts payable within one year | 42/48 | €53,102 | €244,754 | +€191,652 | +361% |
| Current portion of amounts payable after more than one year | 42 | - | €9,936 | +€9,936 | |
| Trade debts | 44 | €3,586 | €3,063 | -€523 | -14.6% |
| Suppliers | 440/4 | €3,586 | €3,063 | -€523 | -14.6% |
| Taxes, remuneration and social security | 45 | €49,516 | €101,889 | +€52,373 | +106% |
| Taxes | 450/3 | €49,516 | €101,889 | +€52,373 | +106% |
| Other amounts payable | 47/48 | - | €129,866 | +€129,866 | |
| Accrued charges and deferred income | 492/3 | - | €2,200 | +€2,200 | |
| Non-recurring operating income | 76A | - | €165 | +€165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,064 | €8,737 | +€6,673 | +323% |
| Other operating charges | 640/8 | - | €787 | +€787 | |
| Non-recurring operating charges | 66A | - | €151 | +€151 | |
| Gross operating margin | 9900 | €154,312 | €381,000 | +€226,688 | +147% |
| Operating profit (loss) | 9901 | €152,248 | €371,326 | +€219,077 | +144% |
| Financial income | 75/76B | €1,845 | €359 | -€1,485 | -80.5% |
| Recurring financial income | 75 | €1,845 | €359 | -€1,485 | -80.5% |
| Financial charges | 65/66B | €50 | €6,754 | +€6,704 | +13,367% |
| Recurring financial charges | 65 | €50 | €6,754 | +€6,704 | +13,367% |
| Profit (loss) for the period before taxes | 9903 | €154,043 | €364,931 | +€210,889 | +137% |
| Income taxes | 67/77 | €37,773 | €93,290 | +€55,517 | +147% |
| Profit (loss) for the period | 9904 | €116,270 | €271,641 | +€155,372 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €116,270 | €271,641 | +€155,372 | +134% |
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 14 October 2026 via checked.be.