MISHTIDIAM: 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.
MISHTIDIAM
Largest movements
- Cash -€239,969
down €239,969 (-76.0%), from €315,726 to €75,757
- Stocks and contracts +€64,151
up €64,151 (+250%), from €25,694 to €89,845
- Receivables within one year +€44,867
up €44,867 (+63,977%), from €70 to €44,937
of which Trade receivables: +€41,861
- Tax, wage and social debts -€58,932
no longer reported in 2025 (was €58,932)
of which Remuneration and social security: -€31,455
- Profit (loss) carried forward -€35,861
down €35,861 (-19.3%), from €185,705 to €149,844
- Other debts -€35,000
down €35,000 (-45.7%), from €76,633 to €41,633
- Gross operating margin -€97,146
down €97,146 (-79.6%), from €122,058 to €24,912
- Taxes -€12,362
no longer reported in 2025 (was €12,362)
- Financial charges +€6,509
up €6,509 (+67.2%), from €9,684 to €16,193
- Other operating charges -€2,999
down €2,999 (-89.1%), from €3,366 to €368
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €342,096 | €211,156 | -€130,940 | -38.3% |
| Fixed assets | 21/28 | €606 | €616 | +€10 | +1.7% |
| Tangible fixed assets | 22/27 | €606 | €616 | +€10 | +1.7% |
| Plant, machinery and equipment | 23 | €207 | €14 | -€193 | -93.0% |
| Furniture and vehicles | 24 | €399 | €601 | +€203 | +50.8% |
| Current assets | 29/58 | €341,490 | €210,540 | -€130,950 | -38.3% |
| Stocks and contracts in progress | 3 | €25,694 | €89,845 | +€64,151 | +250% |
| Stocks | 30/36 | €25,694 | €89,845 | +€64,151 | +250% |
| Amounts receivable within one year | 40/41 | €70 | €44,937 | +€44,867 | +63,977% |
| Trade receivables | 40 | - | €41,861 | +€41,861 | |
| Other amounts receivable | 41 | €70 | €3,076 | +€3,006 | +4,286% |
| Cash at bank and in hand | 54/58 | €315,726 | €75,757 | -€239,969 | -76.0% |
| Total equity and liabilities | 10/49 | €342,096 | €211,156 | -€130,940 | -38.3% |
| Equity | 10/15 | €205,136 | €169,275 | -€35,861 | -17.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €13,231 | €13,231 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,231 | €13,231 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,231 | €13,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | €185,705 | €149,844 | -€35,861 | -19.3% |
| Amounts payable | 17/49 | €136,960 | €41,881 | -€95,080 | -69.4% |
| Amounts payable within one year | 42/48 | €136,960 | €41,881 | -€95,080 | -69.4% |
| Trade debts | 44 | €1,395 | €248 | -€1,148 | -82.3% |
| Suppliers | 440/4 | €1,395 | €248 | -€1,148 | -82.3% |
| Taxes, remuneration and social security | 45 | €58,932 | - | -€58,932 | |
| Taxes | 450/3 | €27,477 | - | -€27,477 | |
| Remuneration and social security | 454/9 | €31,455 | - | -€31,455 | |
| Other amounts payable | 47/48 | €76,633 | €41,633 | -€35,000 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €337 | €417 | +€80 | +23.9% |
| Other operating charges | 640/8 | €3,366 | €368 | -€2,999 | -89.1% |
| Gross operating margin | 9900 | €122,058 | €24,912 | -€97,146 | -79.6% |
| Operating profit (loss) | 9901 | €118,355 | €24,127 | -€94,228 | -79.6% |
| Financial income | 75/76B | €2,048 | €2,431 | +€383 | +18.7% |
| Recurring financial income | 75 | €2,048 | €2,431 | +€383 | +18.7% |
| Financial charges | 65/66B | €9,684 | €16,193 | +€6,509 | +67.2% |
| Recurring financial charges | 65 | €9,684 | €16,193 | +€6,509 | +67.2% |
| Profit (loss) for the period before taxes | 9903 | €110,719 | €10,365 | -€100,354 | -90.6% |
| Income taxes | 67/77 | €12,362 | - | -€12,362 | |
| Profit (loss) for the period | 9904 | €98,358 | €10,365 | -€87,993 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €98,358 | €10,365 | -€87,993 | -89.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.