Mistral: 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.
Mistral
Largest movements
- Receivables within one year -€226,257
down €226,257 (-27.7%), from €817,888 to €591,631
of which Trade receivables: -€188,003
- Cash +€138,217
up €138,217 (+82.0%), from €168,503 to €306,720
mainly Receivables within one year (+€226,257) and Current investments (+€48,692)
- Current investments -€48,692
down €48,692 (-20.5%), from €237,967 to €189,275
- Profit (loss) carried forward -€75,231
down €75,231 (-10.9%), from €690,529 to €615,297
- Trade debts -€46,263
down €46,263 (-20.9%), from €221,843 to €175,580
- Tax, wage and social debts -€46,235
down €46,235 (-28.1%), from €164,354 to €118,118
of which Taxes: -€51,584
- Other debts +€27,604
up €27,604 (+16.7%), from €165,732 to €193,336
- Staff costs +€70,431
up €70,431 (+10.3%), from €683,790 to €754,221
- Gross operating margin +€18,980
up €18,980 (+2.4%), from €789,517 to €808,498
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 | €1,301,136 | €1,153,553 | -€147,583 | -11.3% |
| Fixed assets | 21/28 | €76,778 | €65,926 | -€10,851 | -14.1% |
| Tangible fixed assets | 22/27 | €32,196 | €21,345 | -€10,851 | -33.7% |
| Furniture and vehicles | 24 | €181 | - | -€181 | |
| Leasing and similar rights | 25 | €32,015 | €21,345 | -€10,670 | -33.3% |
| Financial fixed assets | 28 | €44,582 | €44,582 | = | 0.0% |
| Current assets | 29/58 | €1,224,358 | €1,087,627 | -€136,732 | -11.2% |
| Amounts receivable within one year | 40/41 | €817,888 | €591,631 | -€226,257 | -27.7% |
| Trade receivables | 40 | €769,660 | €581,657 | -€188,003 | -24.4% |
| Other amounts receivable | 41 | €48,228 | €9,974 | -€38,254 | -79.3% |
| Current investments | 50/53 | €237,967 | €189,275 | -€48,692 | -20.5% |
| Cash at bank and in hand | 54/58 | €168,503 | €306,720 | +€138,217 | +82.0% |
| Total equity and liabilities | 10/49 | €1,301,136 | €1,153,553 | -€147,583 | -11.3% |
| Equity | 10/15 | €719,161 | €643,929 | -€75,231 | -10.5% |
| Contributions | 10/11 | €26,029 | €26,029 | = | 0.0% |
| Reserves | 13 | €2,603 | €2,603 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,603 | €2,603 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,603 | €2,603 | = | 0.0% |
| Profit (loss) carried forward | 14 | €690,529 | €615,297 | -€75,231 | -10.9% |
| Amounts payable | 17/49 | €581,975 | €509,624 | -€72,351 | -12.4% |
| Amounts payable after more than one year | 17 | €22,589 | €14,769 | -€7,820 | -34.6% |
| Financial debts | 170/4 | €22,589 | €14,769 | -€7,820 | -34.6% |
| Amounts payable within one year | 42/48 | €559,386 | €494,855 | -€64,531 | -11.5% |
| Financial debts | 43 | €7,457 | €7,820 | +€363 | +4.9% |
| Credit institutions | 430/8 | €7,457 | €7,820 | +€363 | +4.9% |
| Trade debts | 44 | €221,843 | €175,580 | -€46,263 | -20.9% |
| Suppliers | 440/4 | €221,843 | €175,580 | -€46,263 | -20.9% |
| Taxes, remuneration and social security | 45 | €164,354 | €118,118 | -€46,235 | -28.1% |
| Taxes | 450/3 | €90,510 | €38,926 | -€51,584 | -57.0% |
| Remuneration and social security | 454/9 | €73,844 | €79,192 | +€5,349 | +7.2% |
| Other amounts payable | 47/48 | €165,732 | €193,336 | +€27,604 | +16.7% |
| Remuneration, social security and pensions | 62 | €683,790 | €754,221 | +€70,431 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,993 | €10,851 | -€1,142 | -9.5% |
| Other operating charges | 640/8 | €5,895 | €4,211 | -€1,685 | -28.6% |
| Gross operating margin | 9900 | €789,517 | €808,498 | +€18,980 | +2.4% |
| Operating profit (loss) | 9901 | €87,839 | €39,215 | -€48,624 | -55.4% |
| Financial income | 75/76B | €707 | €1,869 | +€1,161 | +164% |
| Recurring financial income | 75 | €707 | €1,869 | +€1,161 | +164% |
| Financial charges | 65/66B | €3,427 | €3,036 | -€391 | -11.4% |
| Recurring financial charges | 65 | €3,427 | €3,036 | -€391 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €85,119 | €38,047 | -€47,071 | -55.3% |
| Income taxes | 67/77 | €17,074 | €13,279 | -€3,795 | -22.2% |
| Profit (loss) for the period | 9904 | €68,044 | €24,769 | -€43,276 | -63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €68,044 | €24,769 | -€43,276 | -63.6% |
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 17 October 2026 via checked.be.