MISA GESTION: 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.
MISA GESTION
Largest movements
- Current investments -€149,055
down €149,055 (-33.1%), from €450,000 to €300,945
- Cash +€127,511
up €127,511 (+223%), from €57,250 to €184,761
mainly Current investments (+€149,055) and Debts after one year (+€108,705)
- Tangible fixed assets +€96,593
up €96,593 (+6.3%), from €1.5m to €1.6m
of which Land and buildings: +€114,966
- Debts after one year +€108,705
up €108,705 (+16.9%), from €641,396 to €750,101
- Profit (loss) carried forward -€38,326
down €38,326 (-96.6%), from -€39,686 to -€78,012
- Gross operating margin -€38,728
down €38,728 (-36.4%), from €106,282 to €67,554
- Financial charges -€17,465
down €17,465 (-57.3%), from €30,492 to €13,027
- Other operating charges -€17,166
down €17,166 (-44.1%), from €38,941 to €21,775
- Financial income -€10,418
down €10,418 (-53.0%), from €19,659 to €9,241
- Depreciation -€1,925
down €1,925 (-2.4%), from €81,756 to €79,831
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.
Derived cash bridge
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 | €2,083,295 | €2,160,109 | +€76,813 | +3.7% |
| Fixed assets | 21/28 | €1,534,290 | €1,630,883 | +€96,593 | +6.3% |
| Tangible fixed assets | 22/27 | €1,532,116 | €1,628,709 | +€96,593 | +6.3% |
| Land and buildings | 22 | €1,406,823 | €1,521,790 | +€114,966 | +8.2% |
| Plant, machinery and equipment | 23 | €28,621 | €23,961 | -€4,660 | -16.3% |
| Furniture and vehicles | 24 | €69,343 | €56,458 | -€12,885 | -18.6% |
| Other tangible fixed assets | 26 | €26,500 | €26,500 | = | 0.0% |
| Assets under construction and advance payments | 27 | €828 | - | -€828 | |
| Financial fixed assets | 28 | €2,174 | €2,174 | = | 0.0% |
| Current assets | 29/58 | €549,005 | €529,225 | -€19,780 | -3.6% |
| Amounts receivable within one year | 40/41 | €41,137 | €42,245 | +€1,109 | +2.7% |
| Trade receivables | 40 | €41,137 | €37,919 | -€3,217 | -7.8% |
| Other amounts receivable | 41 | - | €4,326 | +€4,326 | |
| Current investments | 50/53 | €450,000 | €300,945 | -€149,055 | -33.1% |
| Cash at bank and in hand | 54/58 | €57,250 | €184,761 | +€127,511 | +223% |
| Deferred charges and accrued income | 490/1 | €619 | €1,274 | +€655 | +106% |
| Total equity and liabilities | 10/49 | €2,083,295 | €2,160,109 | +€76,813 | +3.7% |
| Equity | 10/15 | €1,232,616 | €1,179,290 | -€53,326 | -4.3% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €1,152,302 | €1,137,302 | -€15,000 | -1.3% |
| Distributable reserves | 133 | €1,152,302 | €1,137,302 | -€15,000 | -1.3% |
| Profit (loss) carried forward | 14 | -€39,686 | -€78,012 | -€38,326 | -96.6% |
| Amounts payable | 17/49 | €850,680 | €980,819 | +€130,139 | +15.3% |
| Amounts payable after more than one year | 17 | €641,396 | €750,101 | +€108,705 | +16.9% |
| Financial debts | 170/4 | €641,396 | €750,101 | +€108,705 | +16.9% |
| Amounts payable within one year | 42/48 | €209,284 | €230,718 | +€21,434 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €49,156 | €56,566 | +€7,410 | +15.1% |
| Trade debts | 44 | €17,016 | €13,378 | -€3,638 | -21.4% |
| Suppliers | 440/4 | €17,016 | €13,378 | -€3,638 | -21.4% |
| Taxes, remuneration and social security | 45 | €6,649 | €15,405 | +€8,756 | +132% |
| Taxes | 450/3 | €6,649 | €15,405 | +€8,756 | +132% |
| Other amounts payable | 47/48 | €136,464 | €145,369 | +€8,906 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,756 | €79,831 | -€1,925 | -2.4% |
| Other operating charges | 640/8 | €38,941 | €21,775 | -€17,166 | -44.1% |
| Gross operating margin | 9900 | €106,282 | €67,554 | -€38,728 | -36.4% |
| Operating profit (loss) | 9901 | -€14,415 | -€34,052 | -€19,637 | -136% |
| Financial income | 75/76B | €19,659 | €9,241 | -€10,418 | -53.0% |
| Recurring financial income | 75 | €19,659 | €9,241 | -€10,418 | -53.0% |
| Financial charges | 65/66B | €30,492 | €13,027 | -€17,465 | -57.3% |
| Recurring financial charges | 65 | €30,492 | €13,027 | -€17,465 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | -€25,247 | -€37,838 | -€12,591 | -49.9% |
| Income taxes | 67/77 | €525 | €488 | -€37 | -7.0% |
| Profit (loss) for the period | 9904 | -€25,772 | -€38,326 | -€12,554 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,772 | -€38,326 | -€12,554 | -48.7% |
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 23 October 2026 via checked.be.