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 after one year +€150,000
up €150,000 (+76.4%), from €196,323 to €346,323
- Tangible fixed assets -€88,853
down €88,853 (-98.1%), from €90,594 to €1,741
of which Land and buildings: -€86,621
- Cash +€28,545
up €28,545 (+1502.4%), from €1,900 to €30,445
mainly Investment in fixed assets (net) (+€87,426) and Net result for the year (+€65,541)
- Reserves +€65,541
up €65,541 (+34.0%), from €193,046 to €258,587
of which Tax-exempt reserves: +€70,034
- Provisions +€23,345
new in 2025: €23,345
- Gross operating margin +€85,828
up €85,828 (+3690.9%), from €2,325 to €88,153
- Financial income +€3,375
new in 2025: €3,375
- Other operating charges -€1,543
down €1,543 (-100.0%), from €1,543 to €0
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 | €289,623 | €378,509 | +€88,886 | +30.7% |
| Fixed assets | 21/28 | €91,399 | €1,741 | -€89,659 | -98.1% |
| Tangible fixed assets | 22/27 | €90,594 | €1,741 | -€88,853 | -98.1% |
| Land and buildings | 22 | €86,621 | €0 | -€86,621 | -100.0% |
| Plant, machinery and equipment | 23 | €403 | €78 | -€325 | -80.6% |
| Furniture and vehicles | 24 | €3,570 | €1,663 | -€1,908 | -53.4% |
| Financial fixed assets | 28 | €806 | €0 | -€806 | -100.0% |
| Current assets | 29/58 | €198,223 | €376,768 | +€178,545 | +90.1% |
| Amounts receivable after more than one year | 29 | €196,323 | €346,323 | +€150,000 | +76.4% |
| Other amounts receivable | 291 | €196,323 | €346,323 | +€150,000 | +76.4% |
| Cash at bank and in hand | 54/58 | €1,900 | €30,445 | +€28,545 | +1502.4% |
| Total equity and liabilities | 10/49 | €289,623 | €378,509 | +€88,886 | +30.7% |
| Equity | 10/15 | €264,059 | €329,600 | +€65,541 | +24.8% |
| Contributions | 10/11 | €71,014 | €71,014 | = | 0.0% |
| Capital | 10 | €71,014 | €71,014 | = | 0.0% |
| Issued capital | 100 | €71,014 | €71,014 | = | 0.0% |
| Reserves | 13 | €193,046 | €258,587 | +€65,541 | +34.0% |
| Non-distributable reserves | 130/1 | €26,579 | €26,579 | = | 0.0% |
| Legal reserve | 130 | €26,579 | €26,579 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €70,034 | +€70,034 | |
| Distributable reserves | 133 | €166,466 | €161,973 | -€4,493 | -2.7% |
| Provisions and deferred taxes | 16 | - | €23,345 | +€23,345 | |
| Deferred taxes | 168 | - | €23,345 | +€23,345 | |
| Amounts payable | 17/49 | €25,564 | €25,564 | = | 0.0% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,564 | €5,564 | = | 0.0% |
| Other amounts payable | 47/48 | €5,564 | €5,564 | = | 0.0% |
| Non-recurring operating income | 76A | - | €93,379 | +€93,379 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,038 | €2,232 | -€806 | -26.5% |
| Other operating charges | 640/8 | €1,543 | €0 | -€1,543 | -100.0% |
| Gross operating margin | 9900 | €2,325 | €88,153 | +€85,828 | +3690.9% |
| Operating profit (loss) | 9901 | -€2,256 | €85,921 | +€88,176 | |
| Financial income | 75/76B | - | €3,375 | +€3,375 | |
| Recurring financial income | 75 | - | €3,375 | +€3,375 | |
| Financial charges | 65/66B | €57 | €409 | +€352 | +616.0% |
| Recurring financial charges | 65 | €57 | €409 | +€352 | +616.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,313 | €88,886 | +€91,199 | |
| Transfer to deferred taxes | 680 | - | €23,345 | +€23,345 | |
| Profit (loss) for the period | 9904 | -€2,313 | €65,541 | +€67,854 | |
| Transfer to tax-exempt reserves | 689 | - | €70,034 | +€70,034 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,313 | -€4,493 | -€2,180 | -94.2% |
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 29 September 2026 via checked.be.