MIRECO: 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.
MIRECO
Largest movements
- Tangible fixed assets -€10,479
down €10,479 (-53.8%), from €19,470 to €8,991
of which Leasing and similar rights: -€7,865
- Cash +€8,923
up €8,923 (+101.3%), from €8,811 to €17,734
mainly Depreciation (+€10,479) and Trade debts (+€8,911)
- Receivables within one year +€1,678
up €1,678 (+39.5%), from €4,251 to €5,928
of which Trade receivables: +€1,108
- Stocks and contracts +€660
up €660 (+11.5%), from €5,734 to €6,394
- Trade debts +€8,911
up €8,911 (+224.5%), from €3,969 to €12,880
- Current portion of long-term debt -€6,085
no longer reported in 2025 (was €6,085)
- Profit (loss) carried forward -€5,544
new in 2025: -€5,544
- Other debts +€4,027
up €4,027 (+53.4%), from €7,546 to €11,573
- Reserves -€1,143
down €1,143 (-16.0%), from €7,150 to €6,007
- Staff costs +€47,420
up €47,420 (+811.8%), from €5,842 to €53,262
- Gross operating margin +€38,835
up €38,835 (+192.1%), from €20,216 to €59,051
- Other operating charges -€1,454
down €1,454 (-52.2%), from €2,786 to €1,332
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 | €40,218 | €41,105 | +€887 | +2.2% |
| Fixed assets | 21/28 | €20,670 | €10,191 | -€10,479 | -50.7% |
| Tangible fixed assets | 22/27 | €19,470 | €8,991 | -€10,479 | -53.8% |
| Plant, machinery and equipment | 23 | €11,202 | €7,409 | -€3,793 | -33.9% |
| Furniture and vehicles | 24 | €403 | €1,582 | +€1,178 | +292.2% |
| Leasing and similar rights | 25 | €7,865 | - | -€7,865 | |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €19,548 | €30,914 | +€11,366 | +58.1% |
| Stocks and contracts in progress | 3 | €5,734 | €6,394 | +€660 | +11.5% |
| Stocks | 30/36 | €5,734 | €6,394 | +€660 | +11.5% |
| Amounts receivable within one year | 40/41 | €4,251 | €5,928 | +€1,678 | +39.5% |
| Trade receivables | 40 | €2,835 | €3,943 | +€1,108 | +39.1% |
| Other amounts receivable | 41 | €1,415 | €1,985 | +€570 | +40.2% |
| Cash at bank and in hand | 54/58 | €8,811 | €17,734 | +€8,923 | +101.3% |
| Deferred charges and accrued income | 490/1 | €752 | €858 | +€106 | +14.1% |
| Total equity and liabilities | 10/49 | €40,218 | €41,105 | +€887 | +2.2% |
| Equity | 10/15 | €13,650 | €6,964 | -€6,687 | -49.0% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €7,150 | €6,007 | -€1,143 | -16.0% |
| Distributable reserves | 133 | €7,150 | €6,007 | -€1,143 | -16.0% |
| Profit (loss) carried forward | 14 | - | -€5,544 | -€5,544 | |
| Amounts payable | 17/49 | €26,568 | €34,142 | +€7,574 | +28.5% |
| Amounts payable within one year | 42/48 | €26,568 | €34,142 | +€7,574 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €6,085 | - | -€6,085 | |
| Trade debts | 44 | €3,969 | €12,880 | +€8,911 | +224.5% |
| Suppliers | 440/4 | €3,969 | €12,880 | +€8,911 | +224.5% |
| Taxes, remuneration and social security | 45 | €8,968 | €9,689 | +€721 | +8.0% |
| Taxes | 450/3 | €273 | €196 | -€77 | -28.3% |
| Remuneration and social security | 454/9 | €8,695 | €9,493 | +€798 | +9.2% |
| Other amounts payable | 47/48 | €7,546 | €11,573 | +€4,027 | +53.4% |
| Remuneration, social security and pensions | 62 | €5,842 | €53,262 | +€47,420 | +811.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,058 | €10,479 | -€578 | -5.2% |
| Other operating charges | 640/8 | €2,786 | €1,332 | -€1,454 | -52.2% |
| Gross operating margin | 9900 | €20,216 | €59,051 | +€38,835 | +192.1% |
| Operating profit (loss) | 9901 | €530 | -€6,022 | -€6,553 | |
| Financial income | 75/76B | €66 | €88 | +€22 | +33.3% |
| Recurring financial income | 75 | €66 | €88 | +€22 | +33.3% |
| Financial charges | 65/66B | €940 | €753 | -€187 | -19.9% |
| Recurring financial charges | 65 | €940 | €753 | -€187 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | -€343 | -€6,687 | -€6,344 | -1850.4% |
| Income taxes | 67/77 | €131 | - | -€131 | |
| Profit (loss) for the period | 9904 | -€474 | -€6,687 | -€6,213 | -1311.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€474 | -€6,687 | -€6,213 | -1311.8% |
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 10 October 2026 via checked.be.