MISTRAL: what changed
Two fiscal 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 +€662,680
up €662,680 (+135.1%), from €490,647 to €1.2m
of which Other amounts receivable: +€662,680
- Cash +€260,575
up €260,575 (+159.1%), from €163,820 to €424,396
mainly Net result for the year (+€545,610) and Other debts (+€474,471)
- Tangible fixed assets -€19,028
down €19,028 (-24.1%), from €78,815 to €59,786
- Other debts +€474,471
up €474,471 (+316.3%), from €150,000 to €624,471
- Profit (loss) carried forward +€295,610
up €295,610 (+52.7%), from €561,313 to €856,923
- Tax, wage and social debts +€99,424
up €99,424 (+551.4%), from €18,031 to €117,455
of which Taxes: +€96,393
- Trade debts +€30,925
up €30,925 (+51.0%), from €60,613 to €91,538
- Gross operating margin +€339,039
up €339,039 (+41.5%), from €816,899 to €1.2m
- Taxes +€77,638
up €77,638 (+66.8%), from €116,192 to €193,829
- Staff costs +€44,032
up €44,032 (+22.1%), from €198,875 to €242,907
- Other operating charges +€18,540
up €18,540 (+18.4%), from €100,661 to €119,201
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.
Cash bridge derived
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 | €808,645 | €1,712,871 | +€904,227 | +111.8% |
| Fixed assets | 21/28 | €154,178 | €135,149 | -€19,028 | -12.3% |
| Tangible fixed assets | 22/27 | €78,815 | €59,786 | -€19,028 | -24.1% |
| Plant, machinery and equipment | 23 | €32,167 | €22,787 | -€9,379 | -29.2% |
| Furniture and vehicles | 24 | €1,398 | €0 | -€1,398 | -100.0% |
| Other tangible fixed assets | 26 | €45,250 | €36,999 | -€8,251 | -18.2% |
| Financial fixed assets | 28 | €75,363 | €75,363 | = | 0.0% |
| Current assets | 29/58 | €654,467 | €1,577,722 | +€923,255 | +141.1% |
| Amounts receivable within one year | 40/41 | €490,647 | €1,153,327 | +€662,680 | +135.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €490,647 | €1,153,327 | +€662,680 | +135.1% |
| Cash at bank and in hand | 54/58 | €163,820 | €424,396 | +€260,575 | +159.1% |
| Total equity and liabilities | 10/49 | €808,645 | €1,712,871 | +€904,227 | +111.8% |
| Equity | 10/15 | €579,913 | €875,523 | +€295,610 | +51.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €561,313 | €856,923 | +€295,610 | +52.7% |
| Amounts payable | 17/49 | €228,732 | €837,348 | +€608,616 | +266.1% |
| Amounts payable within one year | 42/48 | €228,644 | €833,464 | +€604,820 | +264.5% |
| Trade debts | 44 | €60,613 | €91,538 | +€30,925 | +51.0% |
| Suppliers | 440/4 | €60,613 | €91,538 | +€30,925 | +51.0% |
| Taxes, remuneration and social security | 45 | €18,031 | €117,455 | +€99,424 | +551.4% |
| Taxes | 450/3 | €5,929 | €102,323 | +€96,393 | +1625.7% |
| Remuneration and social security | 454/9 | €12,102 | €15,132 | +€3,030 | +25.0% |
| Other amounts payable | 47/48 | €150,000 | €624,471 | +€474,471 | +316.3% |
| Accrued charges and deferred income | 492/3 | €88 | €3,884 | +€3,797 | +4329.2% |
| Remuneration, social security and pensions | 62 | €198,875 | €242,907 | +€44,032 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,559 | €19,028 | -€531 | -2.7% |
| Other operating charges | 640/8 | €100,661 | €119,201 | +€18,540 | +18.4% |
| Gross operating margin | 9900 | €816,899 | €1,155,938 | +€339,039 | +41.5% |
| Operating profit (loss) | 9901 | €497,803 | €774,801 | +€276,998 | +55.6% |
| Financial charges | 65/66B | €46,432 | €35,362 | -€11,070 | -23.8% |
| Recurring financial charges | 65 | €46,432 | €35,362 | -€11,070 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €451,371 | €739,440 | +€288,068 | +63.8% |
| Income taxes | 67/77 | €116,192 | €193,829 | +€77,638 | +66.8% |
| Profit (loss) for the period | 9904 | €335,180 | €545,610 | +€210,430 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €335,180 | €545,610 | +€210,430 | +62.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.