MISK: 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.
MISK
Largest movements
- Tangible fixed assets -€18,738
down €18,738 (-4.2%), from €446,386 to €427,648
of which Land and buildings: -€17,635
- Cash +€5,652
up €5,652 (+100%), from €5,648 to €11,301
mainly Depreciation (+€18,738) and Other debts (+€18,000)
- Debts after one year -€45,000
down €45,000 (-23.4%), from €192,500 to €147,500
of which Financial debts: -€45,000
- Other debts +€18,000
up €18,000 (+9.7%), from €185,775 to €203,775
- Profit (loss) carried forward +€10,539
up €10,539 (+48.2%), from -€21,868 to -€11,328
- Gross operating margin +€3,730
up €3,730 (+9.7%), from €38,382 to €42,112
- Financial charges -€3,620
down €3,620 (-51.5%), from €7,035 to €3,415
- Depreciation +€559
up €559 (+3.1%), from €18,180 to €18,738
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 | €461,407 | €445,346 | -€16,061 | -3.5% |
| Fixed assets | 21/28 | €446,386 | €427,648 | -€18,738 | -4.2% |
| Tangible fixed assets | 22/27 | €446,386 | €427,648 | -€18,738 | -4.2% |
| Land and buildings | 22 | €441,888 | €424,253 | -€17,635 | -4.0% |
| Plant, machinery and equipment | 23 | €3,172 | €2,519 | -€653 | -20.6% |
| Furniture and vehicles | 24 | €1,325 | €875 | -€450 | -34.0% |
| Current assets | 29/58 | €15,021 | €17,698 | +€2,677 | +17.8% |
| Amounts receivable within one year | 40/41 | €6,598 | €6,398 | -€200 | -3.0% |
| Trade receivables | 40 | €6,598 | €6,398 | -€200 | -3.0% |
| Cash at bank and in hand | 54/58 | €5,648 | €11,301 | +€5,652 | +100% |
| Deferred charges and accrued income | 490/1 | €2,775 | - | -€2,775 | |
| Total equity and liabilities | 10/49 | €461,407 | €445,346 | -€16,061 | -3.5% |
| Equity | 10/15 | €38,132 | €48,672 | +€10,539 | +27.6% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,868 | -€11,328 | +€10,539 | +48.2% |
| Amounts payable | 17/49 | €423,275 | €396,675 | -€26,600 | -6.3% |
| Amounts payable after more than one year | 17 | €192,500 | €147,500 | -€45,000 | -23.4% |
| Financial debts | 170/4 | €82,500 | €37,500 | -€45,000 | -54.5% |
| Other amounts payable | 178/9 | €110,000 | €110,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €230,775 | €249,175 | +€18,400 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €45,000 | €45,000 | = | 0.0% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Other amounts payable | 47/48 | €185,775 | €203,775 | +€18,000 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,180 | €18,738 | +€559 | +3.1% |
| Other operating charges | 640/8 | €9,134 | €9,420 | +€286 | +3.1% |
| Gross operating margin | 9900 | €38,382 | €42,112 | +€3,730 | +9.7% |
| Operating profit (loss) | 9901 | €11,069 | €13,954 | +€2,886 | +26.1% |
| Financial charges | 65/66B | €7,035 | €3,415 | -€3,620 | -51.5% |
| Recurring financial charges | 65 | €7,035 | €3,415 | -€3,620 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €4,034 | €10,539 | +€6,506 | +161% |
| Profit (loss) for the period | 9904 | €4,034 | €10,539 | +€6,506 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €4,034 | €10,539 | +€6,506 | +161% |
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 13 October 2026 via checked.be.