Misa: 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.
Misa
Largest movements
- Cash -€3,950
down €3,950 (-16.7%), from €23,627 to €19,676
mainly Contributions, distributions and other (-€18,000) and Receivables within one year (-€1,917)
- Receivables within one year +€1,917
up €1,917 (+56.4%), from €3,398 to €5,315
of which Other amounts receivable: +€2,099
- Deferred charges and accrued income -€1,768
down €1,768 (-95.7%), from €1,847 to €79
- Reserves -€3,500
down €3,500 (-15.6%), from €22,500 to €19,000
- Trade debts -€1,184
down €1,184 (-71.1%), from €1,666 to €482
- Accrued charges and deferred income +€561
new in 2025: €561
- Gross operating margin +€2,022
up €2,022 (+10.8%), from €18,804 to €20,825
- Taxes +€808
up €808 (+26.2%), from €3,091 to €3,899
- Financial charges -€718
down €718 (-87.2%), from €823 to €105
- Other operating charges +€288
up €288 (+39.8%), from €725 to €1,013
- Depreciation -€212
down €212 (-14.1%), from €1,508 to €1,296
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 | €30,824 | €26,813 | -€4,011 | -13.0% |
| Fixed assets | 21/28 | €1,952 | €1,743 | -€209 | -10.7% |
| Tangible fixed assets | 22/27 | €1,952 | €1,743 | -€209 | -10.7% |
| Plant, machinery and equipment | 23 | €400 | €967 | +€566 | +141.5% |
| Furniture and vehicles | 24 | €1,552 | €776 | -€776 | -50.0% |
| Current assets | 29/58 | €28,871 | €25,070 | -€3,801 | -13.2% |
| Amounts receivable within one year | 40/41 | €3,398 | €5,315 | +€1,917 | +56.4% |
| Trade receivables | 40 | €2,993 | €2,811 | -€182 | -6.1% |
| Other amounts receivable | 41 | €405 | €2,504 | +€2,099 | +519.0% |
| Cash at bank and in hand | 54/58 | €23,627 | €19,676 | -€3,950 | -16.7% |
| Deferred charges and accrued income | 490/1 | €1,847 | €79 | -€1,768 | -95.7% |
| Total equity and liabilities | 10/49 | €30,824 | €26,813 | -€4,011 | -13.0% |
| Equity | 10/15 | €23,807 | €20,319 | -€3,488 | -14.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €22,500 | €19,000 | -€3,500 | -15.6% |
| Distributable reserves | 133 | €22,500 | €19,000 | -€3,500 | -15.6% |
| Profit (loss) carried forward | 14 | €307 | €319 | +€12 | +4.0% |
| Amounts payable | 17/49 | €7,016 | €6,493 | -€523 | -7.5% |
| Amounts payable within one year | 42/48 | €7,016 | €5,933 | -€1,084 | -15.4% |
| Trade debts | 44 | €1,666 | €482 | -€1,184 | -71.1% |
| Suppliers | 440/4 | €1,666 | €482 | -€1,184 | -71.1% |
| Taxes, remuneration and social security | 45 | €4,884 | €4,949 | +€66 | +1.3% |
| Taxes | 450/3 | €4,884 | €2,849 | -€2,034 | -41.7% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €466 | €501 | +€35 | +7.5% |
| Accrued charges and deferred income | 492/3 | - | €561 | +€561 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,508 | €1,296 | -€212 | -14.1% |
| Other operating charges | 640/8 | €725 | €1,013 | +€288 | +39.8% |
| Gross operating margin | 9900 | €18,804 | €20,825 | +€2,022 | +10.8% |
| Operating profit (loss) | 9901 | €16,571 | €18,516 | +€1,945 | +11.7% |
| Financial income | 75/76B | €4 | €0 | -€4 | -97.8% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -97.8% |
| Financial charges | 65/66B | €823 | €105 | -€718 | -87.2% |
| Recurring financial charges | 65 | €823 | €105 | -€718 | -87.2% |
| Profit (loss) for the period before taxes | 9903 | €15,751 | €18,411 | +€2,660 | +16.9% |
| Income taxes | 67/77 | €3,091 | €3,899 | +€808 | +26.2% |
| Profit (loss) for the period | 9904 | €12,661 | €14,512 | +€1,851 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,661 | €14,512 | +€1,851 | +14.6% |
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 6 October 2026 via checked.be.