MISE MANAGEMENT: 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.
MISE MANAGEMENT
Largest movements
- Tangible fixed assets -€38,522
down €38,522 (-10.6%), from €363,012 to €324,490
of which Furniture and vehicles: -€27,631
- Cash -€23,137
down €23,137 (-87.0%), from €26,599 to €3,462
mainly Debts after one year (-€44,218) and Net result for the year (-€30,141)
- Receivables within one year -€12,881
down €12,881 (-9.4%), from €136,862 to €123,981
of which Other amounts receivable: -€21,956
- Debts after one year -€44,218
down €44,218 (-14.2%), from €311,579 to €267,361
of which Financial debts: -€44,218
- Profit (loss) carried forward -€30,141
down €30,141 (-349%), from -€8,624 to -€38,766
- Trade debts -€6,150
down €6,150 (-41.8%), from €14,718 to €8,568
- Other debts +€5,788
up €5,788 (+3.8%), from €151,409 to €157,197
- Staff costs -€24,193
down €24,193 (-100%), from €24,193 to €0
- Gross operating margin -€20,633
down €20,633 (-39.4%), from €52,324 to €31,692
- Financial charges +€7,649
up €7,649 (+127%), from €6,012 to €13,661
- Depreciation +€6,794
up €6,794 (+21.4%), from €31,728 to €38,522
- Other operating charges +€6,332
up €6,332 (+258%), from €2,454 to €8,786
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 | €530,585 | €457,954 | -€72,630 | -13.7% |
| Fixed assets | 21/28 | €363,012 | €324,490 | -€38,522 | -10.6% |
| Tangible fixed assets | 22/27 | €363,012 | €324,490 | -€38,522 | -10.6% |
| Land and buildings | 22 | €203,540 | €192,649 | -€10,891 | -5.4% |
| Furniture and vehicles | 24 | €159,472 | €131,842 | -€27,631 | -17.3% |
| Current assets | 29/58 | €167,572 | €133,464 | -€34,108 | -20.4% |
| Amounts receivable within one year | 40/41 | €136,862 | €123,981 | -€12,881 | -9.4% |
| Trade receivables | 40 | €24,805 | €33,880 | +€9,075 | +36.6% |
| Other amounts receivable | 41 | €112,057 | €90,101 | -€21,956 | -19.6% |
| Cash at bank and in hand | 54/58 | €26,599 | €3,462 | -€23,137 | -87.0% |
| Deferred charges and accrued income | 490/1 | €4,111 | €6,021 | +€1,909 | +46.4% |
| Total equity and liabilities | 10/49 | €530,585 | €457,954 | -€72,630 | -13.7% |
| Equity | 10/15 | €9,976 | -€20,166 | -€30,141 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,624 | -€38,766 | -€30,141 | -349% |
| Amounts payable | 17/49 | €520,609 | €478,120 | -€42,489 | -8.2% |
| Amounts payable after more than one year | 17 | €311,579 | €267,361 | -€44,218 | -14.2% |
| Financial debts | 170/4 | €311,579 | €267,361 | -€44,218 | -14.2% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €209,030 | €210,759 | +€1,729 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €42,660 | €44,218 | +€1,557 | +3.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €14,718 | €8,568 | -€6,150 | -41.8% |
| Suppliers | 440/4 | €14,718 | €8,568 | -€6,150 | -41.8% |
| Taxes, remuneration and social security | 45 | €243 | €776 | +€534 | +220% |
| Taxes | 450/3 | €243 | €776 | +€534 | +220% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €151,409 | €157,197 | +€5,788 | +3.8% |
| Non-recurring operating income | 76A | - | €283 | +€283 | |
| Remuneration, social security and pensions | 62 | €24,193 | €0 | -€24,193 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,728 | €38,522 | +€6,794 | +21.4% |
| Other operating charges | 640/8 | €2,454 | €8,786 | +€6,332 | +258% |
| Gross operating margin | 9900 | €52,324 | €31,692 | -€20,633 | -39.4% |
| Operating profit (loss) | 9901 | -€6,050 | -€15,617 | -€9,567 | -158% |
| Financial charges | 65/66B | €6,012 | €13,661 | +€7,649 | +127% |
| Recurring financial charges | 65 | €6,012 | €13,661 | +€7,649 | +127% |
| Profit (loss) for the period before taxes | 9903 | -€12,063 | -€29,278 | -€17,215 | -143% |
| Income taxes | 67/77 | €249 | €864 | +€615 | +247% |
| Profit (loss) for the period | 9904 | -€12,311 | -€30,141 | -€17,830 | -145% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,311 | -€30,141 | -€17,830 | -145% |
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 22 October 2026 via checked.be.