MIRAY: what changed
Two fiscal 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.
MIRAY
Largest movements
- Cash -€41,879
down €41,879 (-65.4%), from €64,070 to €22,191
mainly Debts after one year (-€42,000) and Trade debts (-€31,714)
- Stocks and contracts -€36,834
down €36,834 (-82.1%), from €44,857 to €8,023
- Receivables within one year -€13,843
down €13,843 (-14.6%), from €94,541 to €80,697
of which Other amounts receivable: -€20,000
- Tangible fixed assets +€9,437
new in 2025: €9,437
- Financial fixed assets +€7,500
up €7,500 (+2678.6%), from €280 to €7,780
- Debts after one year -€42,000
no longer reported in 2025 (was €42,000)
- Trade debts -€31,714
down €31,714 (-66.1%), from €47,965 to €16,251
- Tax, wage and social debts -€20,363
down €20,363 (-43.3%), from €47,032 to €26,668
of which Taxes: -€12,863
- Profit (loss) carried forward +€13,464
up €13,464 (+38.3%), from €35,185 to €48,649
- Other debts +€4,995
up €4,995 (+38.6%), from €12,946 to €17,941
- Staff costs +€29,240
up €29,240 (+25.3%), from €115,390 to €144,630
- Gross operating margin -€22,398
down €22,398 (-12.0%), from €186,981 to €164,583
- Taxes -€12,700
down €12,700 (-77.6%), from €16,362 to €3,663
- Other operating charges -€2,963
down €2,963 (-63.3%), from €4,684 to €1,721
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 | €203,747 | €128,128 | -€75,619 | -37.1% |
| Fixed assets | 21/28 | €280 | €17,217 | +€16,937 | +6049.1% |
| Tangible fixed assets | 22/27 | - | €9,437 | +€9,437 | |
| Plant, machinery and equipment | 23 | - | €9,437 | +€9,437 | |
| Financial fixed assets | 28 | €280 | €7,780 | +€7,500 | +2678.6% |
| Current assets | 29/58 | €203,467 | €110,911 | -€92,557 | -45.5% |
| Stocks and contracts in progress | 3 | €44,857 | €8,023 | -€36,834 | -82.1% |
| Stocks | 30/36 | €44,857 | €8,023 | -€36,834 | -82.1% |
| Amounts receivable within one year | 40/41 | €94,541 | €80,697 | -€13,843 | -14.6% |
| Trade receivables | 40 | €64,541 | €70,697 | +€6,157 | +9.5% |
| Other amounts receivable | 41 | €30,000 | €10,000 | -€20,000 | -66.7% |
| Cash at bank and in hand | 54/58 | €64,070 | €22,191 | -€41,879 | -65.4% |
| Total equity and liabilities | 10/49 | €203,747 | €128,128 | -€75,619 | -37.1% |
| Equity | 10/15 | €53,785 | €67,249 | +€13,464 | +25.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,185 | €48,649 | +€13,464 | +38.3% |
| Amounts payable | 17/49 | €149,962 | €60,879 | -€89,083 | -59.4% |
| Amounts payable after more than one year | 17 | €42,000 | - | -€42,000 | |
| Other amounts payable | 178/9 | €42,000 | - | -€42,000 | |
| Amounts payable within one year | 42/48 | €107,962 | €60,879 | -€47,083 | -43.6% |
| Financial debts | 43 | €19 | €19 | = | 0.0% |
| Credit institutions | 430/8 | €19 | €19 | = | 0.0% |
| Trade debts | 44 | €47,965 | €16,251 | -€31,714 | -66.1% |
| Suppliers | 440/4 | €47,965 | €16,251 | -€31,714 | -66.1% |
| Taxes, remuneration and social security | 45 | €47,032 | €26,668 | -€20,363 | -43.3% |
| Taxes | 450/3 | €37,383 | €24,520 | -€12,863 | -34.4% |
| Remuneration and social security | 454/9 | €9,648 | €2,148 | -€7,500 | -77.7% |
| Other amounts payable | 47/48 | €12,946 | €17,941 | +€4,995 | +38.6% |
| Non-recurring operating income | 76A | €50,000 | - | -€50,000 | |
| Remuneration, social security and pensions | 62 | €115,390 | €144,630 | +€29,240 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €563 | +€563 | |
| Other operating charges | 640/8 | €4,684 | €1,721 | -€2,963 | -63.3% |
| Non-recurring operating charges | 66A | €5,000 | - | -€5,000 | |
| Gross operating margin | 9900 | €186,981 | €164,583 | -€22,398 | -12.0% |
| Operating profit (loss) | 9901 | €61,907 | €17,669 | -€44,238 | -71.5% |
| Financial income | 75/76B | €18 | €1 | -€17 | -95.6% |
| Recurring financial income | 75 | €18 | €1 | -€17 | -95.6% |
| Financial charges | 65/66B | €894 | €597 | -€297 | -33.2% |
| Recurring financial charges | 65 | €894 | €597 | -€297 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €61,031 | €17,073 | -€43,958 | -72.0% |
| Income taxes | 67/77 | €16,362 | €3,663 | -€12,700 | -77.6% |
| Profit (loss) for the period | 9904 | €44,669 | €13,410 | -€31,259 | -70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,669 | €13,410 | -€31,259 | -70.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.