MIREC: 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.
MIREC
Largest movements
- Tangible fixed assets -€20,433
down €20,433 (-2.2%), from €917,198 to €896,765
- Debts after one year -€61,923
down €61,923 (-8.3%), from €742,165 to €680,242
of which Financial debts: -€66,923
- Reserves +€21,656
up €21,656 (+91.1%), from €23,759 to €45,415
of which Distributable reserves: +€21,656
- Accrued charges and deferred income +€12,293
up €12,293 (+58.5%), from €21,025 to €33,318
- Tax, wage and social debts +€9,860
up €9,860 (+262.2%), from €3,761 to €13,620
- Financial charges -€10,261
down €10,261 (-22.7%), from €45,297 to €35,036
- Gross operating margin +€8,909
up €8,909 (+10.6%), from €84,056 to €92,965
- Taxes +€5,099
up €5,099 (+107.1%), from €4,761 to €9,860
- Other operating charges +€1,472
up €1,472 (+32.6%), from €4,509 to €5,980
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 | €929,568 | €911,226 | -€18,342 | -2.0% |
| Fixed assets | 21/28 | €917,198 | €896,765 | -€20,433 | -2.2% |
| Tangible fixed assets | 22/27 | €917,198 | €896,765 | -€20,433 | -2.2% |
| Land and buildings | 22 | €917,198 | €896,765 | -€20,433 | -2.2% |
| Current assets | 29/58 | €12,370 | €14,460 | +€2,091 | +16.9% |
| Amounts receivable within one year | 40/41 | €35 | €700 | +€665 | +1908.9% |
| Trade receivables | 40 | - | €700 | +€700 | |
| Other amounts receivable | 41 | €35 | €0 | -€35 | -100.0% |
| Current investments | 50/53 | €10,659 | €10,659 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,258 | €1,668 | +€410 | +32.6% |
| Deferred charges and accrued income | 490/1 | €418 | €1,434 | +€1,016 | +243.1% |
| Total equity and liabilities | 10/49 | €929,568 | €911,226 | -€18,342 | -2.0% |
| Equity | 10/15 | €93,759 | €115,415 | +€21,656 | +23.1% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €23,759 | €45,415 | +€21,656 | +91.1% |
| Non-distributable reserves | 130/1 | €129 | €129 | = | 0.0% |
| Reserves not available under the articles | 1311 | €129 | €129 | = | 0.0% |
| Distributable reserves | 133 | €23,630 | €45,286 | +€21,656 | +91.6% |
| Amounts payable | 17/49 | €835,809 | €795,811 | -€39,998 | -4.8% |
| Amounts payable after more than one year | 17 | €742,165 | €680,242 | -€61,923 | -8.3% |
| Financial debts | 170/4 | €557,605 | €490,682 | -€66,923 | -12.0% |
| Other amounts payable | 178/9 | €184,560 | €189,560 | +€5,000 | +2.7% |
| Amounts payable within one year | 42/48 | €72,618 | €82,251 | +€9,633 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €66,923 | €66,923 | = | 0.0% |
| Trade debts | 44 | €418 | €191 | -€227 | -54.3% |
| Suppliers | 440/4 | €418 | €191 | -€227 | -54.3% |
| Taxes, remuneration and social security | 45 | €3,761 | €13,620 | +€9,860 | +262.2% |
| Taxes | 450/3 | €3,761 | €13,620 | +€9,860 | +262.2% |
| Other amounts payable | 47/48 | €1,516 | €1,516 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €21,025 | €33,318 | +€12,293 | +58.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,433 | €20,433 | = | 0.0% |
| Other operating charges | 640/8 | €4,509 | €5,980 | +€1,472 | +32.6% |
| Gross operating margin | 9900 | €84,056 | €92,965 | +€8,909 | +10.6% |
| Operating profit (loss) | 9901 | €59,114 | €66,552 | +€7,437 | +12.6% |
| Financial charges | 65/66B | €45,297 | €35,036 | -€10,261 | -22.7% |
| Recurring financial charges | 65 | €45,297 | €35,036 | -€10,261 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €13,817 | €31,515 | +€17,698 | +128.1% |
| Income taxes | 67/77 | €4,761 | €9,860 | +€5,099 | +107.1% |
| Profit (loss) for the period | 9904 | €9,057 | €21,656 | +€12,599 | +139.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,057 | €21,656 | +€12,599 | +139.1% |
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 9 October 2026 via checked.be.