MISMO: 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.
MISMO
Largest movements
- Cash -€47,908
down €47,908 (-45.7%), from €104,828 to €56,920
mainly Other debts (-€54,073) and Investment in fixed assets (net) (-€30,414)
- Tangible fixed assets +€9,953
up €9,953 (+19.9%), from €49,936 to €59,889
of which Furniture and vehicles: +€16,283
- Stocks and contracts -€9,092
down €9,092 (-45.8%), from €19,869 to €10,777
- Receivables within one year -€6,230
down €6,230 (-24.4%), from €25,521 to €19,290
of which Trade receivables: -€9,966
- Other debts -€54,073
down €54,073 (-91.7%), from €58,942 to €4,868
- Trade debts +€18,065
up €18,065 (+66.2%), from €27,273 to €45,338
- Tax, wage and social debts -€15,914
down €15,914 (-36.2%), from €43,982 to €28,068
of which Taxes: -€16,348
- Profit (loss) carried forward +€5,305
up €5,305 (+4.4%), from €119,704 to €125,009
- Gross operating margin -€102,575
down €102,575 (-32.0%), from €320,298 to €217,724
- Staff costs +€14,203
up €14,203 (+8.2%), from €174,030 to €188,233
- Taxes -€12,507
down €12,507 (-81.1%), from €15,416 to €2,909
- Depreciation -€10,806
down €10,806 (-34.6%), from €31,268 to €20,461
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 | €484,504 | €432,513 | -€51,991 | -10.7% |
| Fixed assets | 21/28 | €54,286 | €64,239 | +€9,953 | +18.3% |
| Tangible fixed assets | 22/27 | €49,936 | €59,889 | +€9,953 | +19.9% |
| Plant, machinery and equipment | 23 | €1,688 | €7,977 | +€6,289 | +373% |
| Furniture and vehicles | 24 | €977 | €17,260 | +€16,283 | +1,666% |
| Other tangible fixed assets | 26 | €47,272 | €34,653 | -€12,619 | -26.7% |
| Financial fixed assets | 28 | €4,350 | €4,350 | = | 0.0% |
| Current assets | 29/58 | €430,218 | €368,274 | -€61,944 | -14.4% |
| Amounts receivable after more than one year | 29 | €280,000 | €280,000 | = | 0.0% |
| Other amounts receivable | 291 | €280,000 | €280,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €19,869 | €10,777 | -€9,092 | -45.8% |
| Stocks | 30/36 | €19,869 | €10,777 | -€9,092 | -45.8% |
| Amounts receivable within one year | 40/41 | €25,521 | €19,290 | -€6,230 | -24.4% |
| Trade receivables | 40 | €16,257 | €6,290 | -€9,966 | -61.3% |
| Other amounts receivable | 41 | €9,264 | €13,000 | +€3,736 | +40.3% |
| Cash at bank and in hand | 54/58 | €104,828 | €56,920 | -€47,908 | -45.7% |
| Deferred charges and accrued income | 490/1 | - | €1,286 | +€1,286 | |
| Total equity and liabilities | 10/49 | €484,504 | €432,513 | -€51,991 | -10.7% |
| Equity | 10/15 | €332,964 | €338,269 | +€5,305 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,660 | €194,660 | = | 0.0% |
| Distributable reserves | 133 | €194,660 | €194,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,704 | €125,009 | +€5,305 | +4.4% |
| Amounts payable | 17/49 | €151,540 | €94,244 | -€57,297 | -37.8% |
| Amounts payable after more than one year | 17 | €18,106 | €15,970 | -€2,136 | -11.8% |
| Financial debts | 170/4 | €18,106 | €15,970 | -€2,136 | -11.8% |
| Amounts payable within one year | 42/48 | €133,434 | €78,274 | -€55,160 | -41.3% |
| Current portion of amounts payable after more than one year | 42 | €3,237 | - | -€3,237 | |
| Trade debts | 44 | €27,273 | €45,338 | +€18,065 | +66.2% |
| Suppliers | 440/4 | €27,273 | €45,338 | +€18,065 | +66.2% |
| Taxes, remuneration and social security | 45 | €43,982 | €28,068 | -€15,914 | -36.2% |
| Taxes | 450/3 | €25,226 | €8,878 | -€16,348 | -64.8% |
| Remuneration and social security | 454/9 | €18,757 | €19,190 | +€433 | +2.3% |
| Other amounts payable | 47/48 | €58,942 | €4,868 | -€54,073 | -91.7% |
| Remuneration, social security and pensions | 62 | €174,030 | €188,233 | +€14,203 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,268 | €20,461 | -€10,806 | -34.6% |
| Other operating charges | 640/8 | €1,238 | €467 | -€771 | -62.3% |
| Non-recurring operating charges | 66A | €711 | - | -€711 | |
| Gross operating margin | 9900 | €320,298 | €217,724 | -€102,575 | -32.0% |
| Operating profit (loss) | 9901 | €113,052 | €8,563 | -€104,489 | -92.4% |
| Financial income | 75/76B | €2,235 | €46 | -€2,189 | -97.9% |
| Recurring financial income | 75 | €2,235 | €46 | -€2,189 | -97.9% |
| Financial charges | 65/66B | €1,199 | €395 | -€804 | -67.1% |
| Recurring financial charges | 65 | €1,199 | €395 | -€804 | -67.1% |
| Profit (loss) for the period before taxes | 9903 | €114,087 | €8,214 | -€105,873 | -92.8% |
| Income taxes | 67/77 | €15,416 | €2,909 | -€12,507 | -81.1% |
| Profit (loss) for the period | 9904 | €98,672 | €5,305 | -€93,366 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €98,672 | €5,305 | -€93,366 | -94.6% |
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 26 October 2026 via checked.be.