MISAL: 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.
MISAL
Largest movements
- Financial fixed assets +€100,000
up €100,000 (+2.0%), from €5.0m to €5.1m
- Cash +€83,135
up €83,135 (+411.0%), from €20,228 to €103,364
mainly Net result for the year (+€404,732) and Current portion of long-term debt (+€11,543)
- Receivables within one year +€78,423
new in 2024: €78,423
- Profit (loss) carried forward +€403,014
up €403,014 (+85.5%), from €471,490 to €874,505
- Debts after one year -€162,420
down €162,420 (-4.1%), from €4.0m to €3.8m
- Gross operating margin -€81,364
down €81,364 (-27.0%), from €301,282 to €219,919
- Financial income -€20,000
down €20,000 (-6.7%), from €300,000 to €280,000
- Financial charges -€16,671
down €16,671 (-23.7%), from €70,274 to €53,603
- Taxes -€16,175
down €16,175 (-28.0%), from €57,752 to €41,578
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,020,228 | €5,281,786 | +€261,558 | +5.2% |
| Fixed assets | 21/28 | €5,000,000 | €5,100,000 | +€100,000 | +2.0% |
| Financial fixed assets | 28 | €5,000,000 | €5,100,000 | +€100,000 | +2.0% |
| Current assets | 29/58 | €20,228 | €181,786 | +€161,558 | +798.7% |
| Amounts receivable within one year | 40/41 | - | €78,423 | +€78,423 | |
| Other amounts receivable | 41 | - | €78,423 | +€78,423 | |
| Cash at bank and in hand | 54/58 | €20,228 | €103,364 | +€83,135 | +411.0% |
| Total equity and liabilities | 10/49 | €5,020,228 | €5,281,786 | +€261,558 | +5.2% |
| Equity | 10/15 | €796,728 | €1,199,742 | +€403,014 | +50.6% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €265,238 | €265,238 | = | 0.0% |
| Distributable reserves | 133 | €265,238 | €265,238 | = | 0.0% |
| Profit (loss) carried forward | 14 | €471,490 | €874,505 | +€403,014 | +85.5% |
| Amounts payable | 17/49 | €4,223,501 | €4,082,044 | -€141,457 | -3.3% |
| Amounts payable after more than one year | 17 | €3,965,340 | €3,802,920 | -€162,420 | -4.1% |
| Financial debts | 170/4 | €3,965,340 | €3,802,920 | -€162,420 | -4.1% |
| Amounts payable within one year | 42/48 | €240,586 | €261,549 | +€20,963 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €163,141 | €174,684 | +€11,543 | +7.1% |
| Trade debts | 44 | €1,769 | €3,326 | +€1,557 | +88.0% |
| Suppliers | 440/4 | €1,769 | €3,326 | +€1,557 | +88.0% |
| Taxes, remuneration and social security | 45 | €71,745 | €78,224 | +€6,479 | +9.0% |
| Taxes | 450/3 | €69,575 | €69,544 | -€31 | 0.0% |
| Remuneration and social security | 454/9 | €2,170 | €8,680 | +€6,510 | +300.0% |
| Other amounts payable | 47/48 | €3,931 | €5,316 | +€1,385 | +35.2% |
| Accrued charges and deferred income | 492/3 | €17,575 | €17,575 | = | 0.0% |
| Other operating charges | 640/8 | €100 | €6 | -€94 | -94.2% |
| Gross operating margin | 9900 | €301,282 | €219,919 | -€81,364 | -27.0% |
| Operating profit (loss) | 9901 | €301,182 | €219,913 | -€81,270 | -27.0% |
| Financial income | 75/76B | €300,000 | €280,000 | -€20,000 | -6.7% |
| Recurring financial income | 75 | €300,000 | €280,000 | -€20,000 | -6.7% |
| Financial charges | 65/66B | €70,274 | €53,603 | -€16,671 | -23.7% |
| Recurring financial charges | 65 | €70,274 | €53,603 | -€16,671 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €530,908 | €446,310 | -€84,598 | -15.9% |
| Income taxes | 67/77 | €57,752 | €41,578 | -€16,175 | -28.0% |
| Profit (loss) for the period | 9904 | €473,156 | €404,732 | -€68,424 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €473,156 | €404,732 | -€68,424 | -14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.