MISKA: 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.
MISKA
Largest movements
- Tangible fixed assets +€159,357
up €159,357 (+79.9%), from €199,564 to €358,920
of which Leasing and similar rights: +€159,636
- Receivables within one year +€63,435
up €63,435 (+238%), from €26,676 to €90,110
of which Trade receivables: +€67,192
- Stocks and contracts +€28,000
up €28,000 (+233%), from €12,000 to €40,000
- Intangible fixed assets +€11,211
new in 2025: €11,211
- Cash +€7,277
up €7,277 (+516%), from €1,411 to €8,688
mainly Other debts (+€168,264) and Trade debts (+€80,308)
- Other debts +€168,264
up €168,264 (+125%), from €134,405 to €302,669
- Profit (loss) carried forward -€90,371
down €90,371, from €12,738 to -€77,632
- Trade debts +€80,308
up €80,308 (+195%), from €41,174 to €121,482
- Debts after one year +€63,274
up €63,274 (+363%), from €17,415 to €80,689
- Current portion of long-term debt +€35,312
up €35,312 (+377%), from €9,365 to €44,677
- Staff costs +€233,673
up €233,673 (+681%), from €34,304 to €267,976
- Gross operating margin +€169,707
up €169,707 (+221%), from €76,748 to €246,455
- Depreciation +€37,494
up €37,494 (+172%), from €21,751 to €59,246
- Financial charges +€5,982
up €5,982 (+170%), from €3,517 to €9,499
- Other operating charges -€4,396
down €4,396 (-97.2%), from €4,523 to €128
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 | €253,202 | €526,750 | +€273,548 | +108% |
| Fixed assets | 21/28 | €212,956 | €383,523 | +€170,567 | +80.1% |
| Intangible fixed assets | 21 | - | €11,211 | +€11,211 | |
| Tangible fixed assets | 22/27 | €199,564 | €358,920 | +€159,357 | +79.9% |
| Land and buildings | 22 | €119,866 | €95,512 | -€24,354 | -20.3% |
| Plant, machinery and equipment | 23 | €43,989 | €42,961 | -€1,028 | -2.3% |
| Furniture and vehicles | 24 | €35,709 | €60,812 | +€25,102 | +70.3% |
| Leasing and similar rights | 25 | - | €159,636 | +€159,636 | |
| Financial fixed assets | 28 | €13,392 | €13,392 | = | 0.0% |
| Current assets | 29/58 | €40,247 | €143,227 | +€102,981 | +256% |
| Stocks and contracts in progress | 3 | €12,000 | €40,000 | +€28,000 | +233% |
| Stocks | 30/36 | €12,000 | €40,000 | +€28,000 | +233% |
| Amounts receivable within one year | 40/41 | €26,676 | €90,110 | +€63,435 | +238% |
| Trade receivables | 40 | - | €67,192 | +€67,192 | |
| Other amounts receivable | 41 | €26,676 | €22,918 | -€3,758 | -14.1% |
| Cash at bank and in hand | 54/58 | €1,411 | €8,688 | +€7,277 | +516% |
| Deferred charges and accrued income | 490/1 | €160 | €4,429 | +€4,269 | +2,672% |
| Total equity and liabilities | 10/49 | €253,202 | €526,750 | +€273,548 | +108% |
| Equity | 10/15 | €44,238 | -€46,132 | -€90,371 | |
| Contributions | 10/11 | €31,500 | €31,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,738 | -€77,632 | -€90,371 | |
| Amounts payable | 17/49 | €208,964 | €572,883 | +€363,919 | +174% |
| Amounts payable after more than one year | 17 | €17,415 | €80,689 | +€63,274 | +363% |
| Financial debts | 170/4 | €17,415 | €80,689 | +€63,274 | +363% |
| Amounts payable within one year | 42/48 | €191,549 | €492,194 | +€300,644 | +157% |
| Current portion of amounts payable after more than one year | 42 | €9,365 | €44,677 | +€35,312 | +377% |
| Trade debts | 44 | €41,174 | €121,482 | +€80,308 | +195% |
| Suppliers | 440/4 | €41,174 | €121,482 | +€80,308 | +195% |
| Taxes, remuneration and social security | 45 | €6,606 | €23,366 | +€16,760 | +254% |
| Taxes | 450/3 | - | €1,270 | +€1,270 | |
| Remuneration and social security | 454/9 | €6,606 | €22,096 | +€15,490 | +234% |
| Other amounts payable | 47/48 | €134,405 | €302,669 | +€168,264 | +125% |
| Remuneration, social security and pensions | 62 | €34,304 | €267,976 | +€233,673 | +681% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,751 | €59,246 | +€37,494 | +172% |
| Other operating charges | 640/8 | €4,523 | €128 | -€4,396 | -97.2% |
| Non-recurring operating charges | 66A | €116 | - | -€116 | |
| Gross operating margin | 9900 | €76,748 | €246,455 | +€169,707 | +221% |
| Operating profit (loss) | 9901 | €16,054 | -€80,895 | -€96,949 | |
| Financial income | 75/76B | €202 | €24 | -€178 | -88.3% |
| Recurring financial income | 75 | €202 | €24 | -€178 | -88.3% |
| Financial charges | 65/66B | €3,517 | €9,499 | +€5,982 | +170% |
| Recurring financial charges | 65 | €3,517 | €9,499 | +€5,982 | +170% |
| Profit (loss) for the period before taxes | 9903 | €12,738 | -€90,371 | -€103,109 | |
| Profit (loss) for the period | 9904 | €12,738 | -€90,371 | -€103,109 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,738 | -€90,371 | -€103,109 |
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 14 October 2026 via checked.be.