MIRAKEL: 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.
MIRAKEL
Largest movements
- Tangible fixed assets +€736,026
up €736,026 (+476.5%), from €154,462 to €890,488
of which Land and buildings: +€763,216
- Cash -€374,902
down €374,902 (-42.2%), from €888,578 to €513,676
mainly Investment in fixed assets (net) (-€786,110) and Contributions, distributions and other (-€545,266)
- Receivables after one year -€30,191
down €30,191 (-23.2%), from €130,191 to €100,000
- Receivables within one year -€28,151
down €28,151 (-96.6%), from €29,131 to €979
- Other debts +€204,580
up €204,580 (+52.0%), from €393,626 to €598,206
- Tax, wage and social debts +€151,636
up €151,636 (+31.1%), from €487,248 to €638,884
of which Taxes: +€138,476
- Reserves -€82,625
down €82,625 (-97.8%), from €84,485 to €1,860
of which Distributable reserves: -€82,625
- Trade debts +€30,065
up €30,065 (+10.5%), from €286,083 to €316,147
- Gross operating margin +€256,516
up €256,516 (+9.3%), from €2.7m to €3.0m
- Staff costs +€153,678
up €153,678 (+7.2%), from €2.1m to €2.3m
- Taxes +€31,333
up €31,333 (+22.0%), from €142,260 to €173,593
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 | €1,261,616 | €1,565,272 | +€303,656 | +24.1% |
| Fixed assets | 21/28 | €206,244 | €941,115 | +€734,871 | +356.3% |
| Intangible fixed assets | 21 | €4,422 | €3,267 | -€1,155 | -26.1% |
| Tangible fixed assets | 22/27 | €154,462 | €890,488 | +€736,026 | +476.5% |
| Land and buildings | 22 | - | €763,216 | +€763,216 | |
| Plant, machinery and equipment | 23 | €23,370 | €22,454 | -€915 | -3.9% |
| Furniture and vehicles | 24 | €44,541 | €43,471 | -€1,070 | -2.4% |
| Other tangible fixed assets | 26 | €86,552 | €61,347 | -€25,205 | -29.1% |
| Financial fixed assets | 28 | €47,360 | €47,360 | = | 0.0% |
| Current assets | 29/58 | €1,055,371 | €624,157 | -€431,214 | -40.9% |
| Amounts receivable after more than one year | 29 | €130,191 | €100,000 | -€30,191 | -23.2% |
| Other amounts receivable | 291 | €130,191 | €100,000 | -€30,191 | -23.2% |
| Amounts receivable within one year | 40/41 | €29,131 | €979 | -€28,151 | -96.6% |
| Other amounts receivable | 41 | €29,131 | €979 | -€28,151 | -96.6% |
| Cash at bank and in hand | 54/58 | €888,578 | €513,676 | -€374,902 | -42.2% |
| Deferred charges and accrued income | 490/1 | €7,472 | €9,501 | +€2,029 | +27.2% |
| Total equity and liabilities | 10/49 | €1,261,616 | €1,565,272 | +€303,656 | +24.1% |
| Equity | 10/15 | €94,659 | €12,034 | -€82,625 | -87.3% |
| Reserves | 13 | €84,485 | €1,860 | -€82,625 | -97.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €82,625 | - | -€82,625 | |
| Profit (loss) carried forward | 14 | €10,174 | €10,174 | = | 0.0% |
| Amounts payable | 17/49 | €1,166,957 | €1,553,237 | +€386,281 | +33.1% |
| Amounts payable within one year | 42/48 | €1,166,957 | €1,553,237 | +€386,281 | +33.1% |
| Trade debts | 44 | €286,083 | €316,147 | +€30,065 | +10.5% |
| Suppliers | 440/4 | €286,083 | €316,147 | +€30,065 | +10.5% |
| Taxes, remuneration and social security | 45 | €487,248 | €638,884 | +€151,636 | +31.1% |
| Taxes | 450/3 | €157,234 | €295,710 | +€138,476 | +88.1% |
| Remuneration and social security | 454/9 | €330,014 | €343,173 | +€13,160 | +4.0% |
| Other amounts payable | 47/48 | €393,626 | €598,206 | +€204,580 | +52.0% |
| Remuneration, social security and pensions | 62 | €2,145,482 | €2,299,161 | +€153,678 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,938 | €51,239 | -€5,699 | -10.0% |
| Other operating charges | 640/8 | €11,998 | €8,186 | -€3,812 | -31.8% |
| Gross operating margin | 9900 | €2,749,450 | €3,005,965 | +€256,516 | +9.3% |
| Operating profit (loss) | 9901 | €535,032 | €647,380 | +€112,348 | +21.0% |
| Financial income | 75/76B | €2,533 | €2,671 | +€139 | +5.5% |
| Recurring financial income | 75 | €2,533 | €2,671 | +€139 | +5.5% |
| Financial charges | 65/66B | €11,813 | €13,816 | +€2,004 | +17.0% |
| Recurring financial charges | 65 | €11,813 | €10,645 | -€1,168 | -9.9% |
| Non-recurring financial charges | 66B | - | €3,171 | +€3,171 | |
| Profit (loss) for the period before taxes | 9903 | €525,752 | €636,235 | +€110,483 | +21.0% |
| Income taxes | 67/77 | €142,260 | €173,593 | +€31,333 | +22.0% |
| Profit (loss) for the period | 9904 | €383,492 | €462,642 | +€79,150 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €383,492 | €462,642 | +€79,150 | +20.6% |
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 11 October 2026 via checked.be.