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
- Tangible fixed assets -€2,691
down €2,691 (-7.2%), from €37,374 to €34,683
of which Plant, machinery and equipment: -€2,163
- Cash +€1,067
up €1,067 (+2.0%), from €53,693 to €54,761
mainly Net result for the year (+€24,406) and Depreciation (+€9,604)
- Reserves +€22,330
up €22,330 (+174.7%), from €12,785 to €35,115
- Profit (loss) carried forward -€20,694
down €20,694 (-100.0%), from €20,694 to €0
- Trade debts -€5,582
down €5,582 (-46.6%), from €11,976 to €6,394
- Tax, wage and social debts +€4,557
up €4,557 (+30.2%), from €15,073 to €19,630
of which Taxes: +€4,188
- Other debts -€2,773
down €2,773 (-10.9%), from €25,542 to €22,769
- Gross operating margin -€7,142
down €7,142 (-3.7%), from €193,701 to €186,558
- Staff costs +€6,807
up €6,807 (+5.0%), from €137,167 to €143,974
- Depreciation -€4,494
down €4,494 (-31.9%), from €14,098 to €9,604
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 | €104,683 | €102,523 | -€2,161 | -2.1% |
| Fixed assets | 21/28 | €37,374 | €34,683 | -€2,691 | -7.2% |
| Tangible fixed assets | 22/27 | €37,374 | €34,683 | -€2,691 | -7.2% |
| Plant, machinery and equipment | 23 | €10,012 | €7,848 | -€2,163 | -21.6% |
| Furniture and vehicles | 24 | €13,062 | €13,853 | +€791 | +6.1% |
| Other tangible fixed assets | 26 | €14,301 | €12,983 | -€1,318 | -9.2% |
| Current assets | 29/58 | €67,310 | €67,839 | +€530 | +0.8% |
| Stocks and contracts in progress | 3 | €9,255 | €8,515 | -€740 | -8.0% |
| Stocks | 30/36 | €9,255 | €8,515 | -€740 | -8.0% |
| Amounts receivable within one year | 40/41 | €1,110 | €1,132 | +€22 | +2.0% |
| Trade receivables | 40 | €43 | €129 | +€85 | +196.8% |
| Other amounts receivable | 41 | €1,067 | €1,003 | -€64 | -6.0% |
| Cash at bank and in hand | 54/58 | €53,693 | €54,761 | +€1,067 | +2.0% |
| Deferred charges and accrued income | 490/1 | €3,252 | €3,432 | +€180 | +5.5% |
| Total equity and liabilities | 10/49 | €104,683 | €102,523 | -€2,161 | -2.1% |
| Equity | 10/15 | €52,071 | €53,707 | +€1,636 | +3.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €12,785 | €35,115 | +€22,330 | +174.7% |
| Distributable reserves | 133 | €12,785 | €35,115 | +€22,330 | +174.7% |
| Profit (loss) carried forward | 14 | €20,694 | €0 | -€20,694 | -100.0% |
| Amounts payable | 17/49 | €52,613 | €48,815 | -€3,797 | -7.2% |
| Amounts payable within one year | 42/48 | €52,592 | €48,794 | -€3,798 | -7.2% |
| Trade debts | 44 | €11,976 | €6,394 | -€5,582 | -46.6% |
| Suppliers | 440/4 | €11,976 | €6,394 | -€5,582 | -46.6% |
| Taxes, remuneration and social security | 45 | €15,073 | €19,630 | +€4,557 | +30.2% |
| Taxes | 450/3 | €8,280 | €12,468 | +€4,188 | +50.6% |
| Remuneration and social security | 454/9 | €6,793 | €7,162 | +€369 | +5.4% |
| Other amounts payable | 47/48 | €25,542 | €22,769 | -€2,773 | -10.9% |
| Accrued charges and deferred income | 492/3 | €20 | €22 | +€1 | +5.5% |
| Remuneration, social security and pensions | 62 | €137,167 | €143,974 | +€6,807 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,098 | €9,604 | -€4,494 | -31.9% |
| Other operating charges | 640/8 | €3,476 | €3,526 | +€50 | +1.4% |
| Gross operating margin | 9900 | €193,701 | €186,558 | -€7,142 | -3.7% |
| Operating profit (loss) | 9901 | €38,960 | €29,454 | -€9,505 | -24.4% |
| Financial income | 75/76B | €172 | €52 | -€120 | -69.6% |
| Recurring financial income | 75 | €172 | €52 | -€120 | -69.6% |
| Financial charges | 65/66B | €613 | €688 | +€74 | +12.1% |
| Recurring financial charges | 65 | €613 | €688 | +€74 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €38,518 | €28,819 | -€9,699 | -25.2% |
| Income taxes | 67/77 | €3,774 | €4,413 | +€639 | +16.9% |
| Profit (loss) for the period | 9904 | €34,744 | €24,406 | -€10,338 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,744 | €24,406 | -€10,338 | -29.8% |
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 9 October 2026 via checked.be.