MIRAGES: 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.
MIRAGES
Largest movements
- Tangible fixed assets -€45,513
down €45,513 (-4.9%), from €937,670 to €892,157
of which Land and buildings: -€46,713
- Cash -€37,493
down €37,493 (-72.7%), from €51,589 to €14,095
mainly Other debts (-€127,098) and Debts after one year (-€19,775)
- Receivables within one year +€11,201
up €11,201 (+1,851%), from €605 to €11,806
- Other debts -€127,098
down €127,098 (-99.9%), from €127,284 to €186
- Reserves +€68,535
up €68,535 (+17.3%), from €396,243 to €464,778
of which Distributable reserves: +€90,344
- Debts after one year -€19,775
down €19,775 (-6.3%), from €312,929 to €293,154
- Tax, wage and social debts +€12,052
up €12,052 (+62.0%), from €19,446 to €31,497
- Gross operating margin -€32,424
down €32,424 (-16.8%), from €192,473 to €160,049
- Taxes +€10,560
up €10,560 (+41.2%), from €25,622 to €36,182
- Financial charges +€6,612
up €6,612 (+168%), from €3,935 to €10,547
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 | €992,029 | €918,624 | -€73,405 | -7.4% |
| Fixed assets | 21/28 | €939,296 | €892,157 | -€47,139 | -5.0% |
| Tangible fixed assets | 22/27 | €937,670 | €892,157 | -€45,513 | -4.9% |
| Land and buildings | 22 | €933,370 | €886,657 | -€46,713 | -5.0% |
| Furniture and vehicles | 24 | €4,300 | €5,500 | +€1,200 | +27.9% |
| Financial fixed assets | 28 | €1,626 | - | -€1,626 | |
| Current assets | 29/58 | €52,733 | €26,467 | -€26,266 | -49.8% |
| Amounts receivable within one year | 40/41 | €605 | €11,806 | +€11,201 | +1,851% |
| Trade receivables | 40 | €605 | €11,806 | +€11,201 | +1,851% |
| Cash at bank and in hand | 54/58 | €51,589 | €14,095 | -€37,493 | -72.7% |
| Deferred charges and accrued income | 490/1 | €540 | €565 | +€26 | +4.8% |
| Total equity and liabilities | 10/49 | €992,029 | €918,624 | -€73,405 | -7.4% |
| Equity | 10/15 | €407,398 | €475,933 | +€68,535 | +16.8% |
| Contributions | 10/11 | €11,155 | €11,155 | = | 0.0% |
| Capital | 10 | €11,155 | €11,155 | = | 0.0% |
| Issued capital | 100 | €11,155 | €11,155 | = | 0.0% |
| Reserves | 13 | €396,243 | €464,778 | +€68,535 | +17.3% |
| Non-distributable reserves | 130/1 | €970 | €970 | = | 0.0% |
| Reserves not available under the articles | 1311 | €970 | €970 | = | 0.0% |
| Tax-exempt reserves | 132 | €389,284 | €367,476 | -€21,809 | -5.6% |
| Distributable reserves | 133 | €5,989 | €96,332 | +€90,344 | +1,509% |
| Provisions and deferred taxes | 16 | €97,321 | €91,869 | -€5,452 | -5.6% |
| Deferred taxes | 168 | €97,321 | €91,869 | -€5,452 | -5.6% |
| Amounts payable | 17/49 | €487,310 | €350,822 | -€136,488 | -28.0% |
| Amounts payable after more than one year | 17 | €312,929 | €293,154 | -€19,775 | -6.3% |
| Financial debts | 170/4 | €312,929 | €293,154 | -€19,775 | -6.3% |
| Amounts payable within one year | 42/48 | €174,381 | €57,668 | -€116,713 | -66.9% |
| Current portion of amounts payable after more than one year | 42 | €17,507 | €17,775 | +€268 | +1.5% |
| Trade debts | 44 | €10,144 | €8,209 | -€1,935 | -19.1% |
| Suppliers | 440/4 | €10,144 | €8,209 | -€1,935 | -19.1% |
| Taxes, remuneration and social security | 45 | €19,446 | €31,497 | +€12,052 | +62.0% |
| Taxes | 450/3 | €19,446 | €31,497 | +€12,052 | +62.0% |
| Other amounts payable | 47/48 | €127,284 | €186 | -€127,098 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,630 | €46,713 | +€84 | +0.2% |
| Other operating charges | 640/8 | €2,372 | €4,223 | +€1,852 | +78.1% |
| Gross operating margin | 9900 | €192,473 | €160,049 | -€32,424 | -16.8% |
| Operating profit (loss) | 9901 | €143,472 | €109,112 | -€34,360 | -23.9% |
| Financial income | 75/76B | - | €700 | +€700 | |
| Recurring financial income | 75 | - | €700 | +€700 | |
| Financial charges | 65/66B | €3,935 | €10,547 | +€6,612 | +168% |
| Recurring financial charges | 65 | €3,935 | €10,547 | +€6,612 | +168% |
| Profit (loss) for the period before taxes | 9903 | €139,537 | €99,265 | -€40,272 | -28.9% |
| Transfer from deferred taxes | 780 | €5,452 | €5,452 | = | 0.0% |
| Income taxes | 67/77 | €25,622 | €36,182 | +€10,560 | +41.2% |
| Profit (loss) for the period | 9904 | €119,367 | €68,535 | -€50,832 | -42.6% |
| Transfer from tax-exempt reserves | 789 | €21,809 | €21,809 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €141,176 | €90,344 | -€50,832 | -36.0% |
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.