MISENPAGE: 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.
MISENPAGE
Largest movements
- Cash +€3,991
up €3,991 (+7.7%), from €51,843 to €55,834
mainly Net result for the year (+€5,473) and Receivables within one year (+€1,644)
- Receivables within one year -€1,644
down €1,644 (-16.6%), from €9,891 to €8,247
of which Trade receivables: -€3,658
- Tangible fixed assets +€706
up €706 (+883%), from €80 to €786
- Reserves +€5,473
up €5,473 (+30.9%), from €17,701 to €23,174
- Other debts -€3,515
down €3,515 (-54.7%), from €6,424 to €2,909
- Trade debts +€1,204
up €1,204 (+77.6%), from €1,553 to €2,757
- Gross operating margin +€6,794
up €6,794, from -€341 to €6,453
- Taxes +€618
new in 2025: €618
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Depreciation -€108
down €108 (-39.8%), from €270 to €163
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 | €61,956 | €65,008 | +€3,052 | +4.9% |
| Fixed assets | 21/28 | €80 | €786 | +€706 | +883% |
| Tangible fixed assets | 22/27 | €80 | €786 | +€706 | +883% |
| Plant, machinery and equipment | 23 | €80 | €786 | +€706 | +883% |
| Current assets | 29/58 | €61,876 | €64,222 | +€2,346 | +3.8% |
| Amounts receivable within one year | 40/41 | €9,891 | €8,247 | -€1,644 | -16.6% |
| Trade receivables | 40 | €8,252 | €4,594 | -€3,658 | -44.3% |
| Other amounts receivable | 41 | €1,639 | €3,653 | +€2,014 | +123% |
| Cash at bank and in hand | 54/58 | €51,843 | €55,834 | +€3,991 | +7.7% |
| Deferred charges and accrued income | 490/1 | €141 | €141 | -€0 | -0.3% |
| Total equity and liabilities | 10/49 | €61,956 | €65,008 | +€3,052 | +4.9% |
| Equity | 10/15 | €52,568 | €58,041 | +€5,473 | +10.4% |
| Contributions | 10/11 | €9,920 | €9,920 | = | 0.0% |
| Reserves | 13 | €17,701 | €23,174 | +€5,473 | +30.9% |
| Distributable reserves | 133 | €17,701 | €23,174 | +€5,473 | +30.9% |
| Profit (loss) carried forward | 14 | €24,947 | €24,947 | = | 0.0% |
| Amounts payable | 17/49 | €9,388 | €6,967 | -€2,421 | -25.8% |
| Amounts payable within one year | 42/48 | €9,388 | €6,967 | -€2,421 | -25.8% |
| Trade debts | 44 | €1,553 | €2,757 | +€1,204 | +77.6% |
| Suppliers | 440/4 | €1,553 | €2,757 | +€1,204 | +77.6% |
| Taxes, remuneration and social security | 45 | €1,411 | €1,301 | -€110 | -7.8% |
| Taxes | 450/3 | €1,411 | €1,301 | -€110 | -7.8% |
| Other amounts payable | 47/48 | €6,424 | €2,909 | -€3,515 | -54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270 | €163 | -€108 | -39.8% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | -€341 | €6,453 | +€6,794 | |
| Operating profit (loss) | 9901 | -€998 | €6,290 | +€7,289 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €213 | €199 | -€14 | -6.7% |
| Recurring financial charges | 65 | €213 | €199 | -€14 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,210 | €6,092 | +€7,302 | |
| Income taxes | 67/77 | - | €618 | +€618 | |
| Profit (loss) for the period | 9904 | -€1,210 | €5,473 | +€6,684 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,210 | €5,473 | +€6,684 |
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 25 October 2026 via checked.be.