MISATO: 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.
MISATO
Largest movements
- Tangible fixed assets -€9,997
down €9,997 (-33.3%), from €29,991 to €19,994
- Receivables after one year -€4,172
no longer reported in 2025 (was €4,172)
- Cash -€1,441
down €1,441 (-79.1%), from €1,821 to €380
mainly Net result for the year (-€13,134) and Provisions (-€1,326)
- Profit (loss) carried forward -€9,156
down €9,156 (-3.8%), from -€238,239 to -€247,395
- Reserves -€3,978
down €3,978 (-13.2%), from €30,197 to €26,219
of which Tax-exempt reserves: -€3,978
- Provisions -€1,326
down €1,326 (-54.6%), from €2,427 to €1,101
- Other debts -€792
down €792 (-22.7%), from €3,495 to €2,703
- Gross operating margin +€389
up €389 (+12.7%), from -€3,057 to -€2,668
- Other operating charges +€54
up €54 (+3.1%), from €1,700 to €1,754
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 | €36,362 | €20,836 | -€15,526 | -42.7% |
| Fixed assets | 21/28 | €29,992 | €19,995 | -€9,997 | -33.3% |
| Tangible fixed assets | 22/27 | €29,991 | €19,994 | -€9,997 | -33.3% |
| Land and buildings | 22 | €29,991 | €19,994 | -€9,997 | -33.3% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €6,370 | €841 | -€5,529 | -86.8% |
| Amounts receivable after more than one year | 29 | €4,172 | - | -€4,172 | |
| Other amounts receivable | 291 | €4,172 | - | -€4,172 | |
| Amounts receivable within one year | 40/41 | €377 | €461 | +€84 | +22.4% |
| Other amounts receivable | 41 | €377 | €461 | +€84 | +22.4% |
| Cash at bank and in hand | 54/58 | €1,821 | €380 | -€1,441 | -79.1% |
| Total equity and liabilities | 10/49 | €36,362 | €20,836 | -€15,526 | -42.7% |
| Equity | 10/15 | €30,166 | €17,032 | -€13,134 | -43.5% |
| Contributions | 10/11 | €238,208 | €238,208 | = | 0.0% |
| Capital | 10 | €238,208 | €238,208 | = | 0.0% |
| Issued capital | 100 | €238,208 | €238,208 | = | 0.0% |
| Reserves | 13 | €30,197 | €26,219 | -€3,978 | -13.2% |
| Non-distributable reserves | 130/1 | €14,164 | €14,164 | = | 0.0% |
| Legal reserve | 130 | €14,164 | €14,164 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,640 | €9,662 | -€3,978 | -29.2% |
| Distributable reserves | 133 | €2,392 | €2,392 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€238,239 | -€247,395 | -€9,156 | -3.8% |
| Provisions and deferred taxes | 16 | €2,427 | €1,101 | -€1,326 | -54.6% |
| Deferred taxes | 168 | €2,427 | €1,101 | -€1,326 | -54.6% |
| Amounts payable | 17/49 | €3,769 | €2,703 | -€1,066 | -28.3% |
| Amounts payable within one year | 42/48 | €3,495 | €2,703 | -€792 | -22.7% |
| Other amounts payable | 47/48 | €3,495 | €2,703 | -€792 | -22.7% |
| Accrued charges and deferred income | 492/3 | €274 | - | -€274 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,997 | €9,997 | = | 0.0% |
| Other operating charges | 640/8 | €1,700 | €1,754 | +€54 | +3.1% |
| Gross operating margin | 9900 | -€3,057 | -€2,668 | +€389 | +12.7% |
| Operating profit (loss) | 9901 | -€14,755 | -€14,419 | +€335 | +2.3% |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.8% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€14,798 | -€14,460 | +€339 | +2.3% |
| Transfer from deferred taxes | 780 | €1,326 | €1,326 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€13,472 | -€13,134 | +€339 | +2.5% |
| Transfer from tax-exempt reserves | 789 | €3,978 | €3,978 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,494 | -€9,156 | +€339 | +3.6% |
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 15 October 2026 via checked.be.