Mistral Management: 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 Management
Largest movements
- Cash +€357,785
up €357,785 (+1,098%), from €32,597 to €390,382
mainly Receivables within one year (+€297,555) and Other debts (+€81,849)
- Receivables within one year -€297,555
down €297,555 (-84.0%), from €354,283 to €56,728
of which Other amounts receivable: -€177,607
- Tangible fixed assets -€31,005
down €31,005 (-8.2%), from €375,935 to €344,930
of which Furniture and vehicles: -€23,180
- Deferred charges and accrued income -€10,196
down €10,196 (-89.5%), from €11,394 to €1,198
- Other debts +€81,849
up €81,849 (+41.4%), from €197,480 to €279,328
- Debts after one year -€62,064
down €62,064 (-17.0%), from €364,547 to €302,483
of which Other amounts payable: -€45,000
- Tax, wage and social debts +€11,545
up €11,545 (+43.1%), from €26,788 to €38,333
of which Taxes: +€11,545
- Gross operating margin +€32,798
up €32,798 (+24.3%), from €135,135 to €167,933
- Financial charges +€20,394
up €20,394 (+109%), from €18,738 to €39,133
- Financial income -€7,983
no longer reported in 2025 (was €7,983)
- Other operating charges -€5,384
down €5,384 (-76.8%), from €7,014 to €1,629
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 | €774,208 | €793,238 | +€19,030 | +2.5% |
| Fixed assets | 21/28 | €375,935 | €344,930 | -€31,005 | -8.2% |
| Tangible fixed assets | 22/27 | €375,935 | €344,930 | -€31,005 | -8.2% |
| Land and buildings | 22 | €279,202 | €272,519 | -€6,683 | -2.4% |
| Plant, machinery and equipment | 23 | €3,136 | €1,994 | -€1,141 | -36.4% |
| Furniture and vehicles | 24 | €93,597 | €70,417 | -€23,180 | -24.8% |
| Current assets | 29/58 | €398,274 | €448,308 | +€50,034 | +12.6% |
| Amounts receivable within one year | 40/41 | €354,283 | €56,728 | -€297,555 | -84.0% |
| Trade receivables | 40 | €149,587 | €29,639 | -€119,948 | -80.2% |
| Other amounts receivable | 41 | €204,697 | €27,090 | -€177,607 | -86.8% |
| Cash at bank and in hand | 54/58 | €32,597 | €390,382 | +€357,785 | +1,098% |
| Deferred charges and accrued income | 490/1 | €11,394 | €1,198 | -€10,196 | -89.5% |
| Total equity and liabilities | 10/49 | €774,208 | €793,238 | +€19,030 | +2.5% |
| Equity | 10/15 | €152,607 | €152,607 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €11,170 | €11,170 | = | 0.0% |
| Reserves | 13 | €122,836 | €122,836 | = | 0.0% |
| Distributable reserves | 133 | €122,836 | €122,836 | = | 0.0% |
| Amounts payable | 17/49 | €621,602 | €640,632 | +€19,030 | +3.1% |
| Amounts payable after more than one year | 17 | €364,547 | €302,483 | -€62,064 | -17.0% |
| Financial debts | 170/4 | €114,547 | €97,483 | -€17,064 | -14.9% |
| Other amounts payable | 178/9 | €250,000 | €205,000 | -€45,000 | -18.0% |
| Amounts payable within one year | 42/48 | €250,222 | €336,898 | +€86,676 | +34.6% |
| Current portion of amounts payable after more than one year | 42 | €16,785 | €17,064 | +€279 | +1.7% |
| Trade debts | 44 | €9,170 | €2,173 | -€6,997 | -76.3% |
| Suppliers | 440/4 | €9,170 | €2,173 | -€6,997 | -76.3% |
| Taxes, remuneration and social security | 45 | €26,788 | €38,333 | +€11,545 | +43.1% |
| Taxes | 450/3 | €24,538 | €36,083 | +€11,545 | +47.1% |
| Remuneration and social security | 454/9 | €2,250 | €2,250 | = | 0.0% |
| Other amounts payable | 47/48 | €197,480 | €279,328 | +€81,849 | +41.4% |
| Accrued charges and deferred income | 492/3 | €6,832 | €1,250 | -€5,582 | -81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,294 | €31,005 | +€711 | +2.3% |
| Other operating charges | 640/8 | €7,014 | €1,629 | -€5,384 | -76.8% |
| Non-recurring operating charges | 66A | €21,389 | €25,125 | +€3,736 | +17.5% |
| Gross operating margin | 9900 | €135,135 | €167,933 | +€32,798 | +24.3% |
| Operating profit (loss) | 9901 | €76,439 | €110,174 | +€33,735 | +44.1% |
| Financial income | 75/76B | €7,983 | - | -€7,983 | |
| Recurring financial income | 75 | €7,983 | - | -€7,983 | |
| Financial charges | 65/66B | €18,738 | €39,133 | +€20,394 | +109% |
| Recurring financial charges | 65 | €18,738 | €39,133 | +€20,394 | +109% |
| Profit (loss) for the period before taxes | 9903 | €65,684 | €71,041 | +€5,357 | +8.2% |
| Income taxes | 67/77 | €19,190 | €19,695 | +€506 | +2.6% |
| Profit (loss) for the period | 9904 | €46,494 | €51,346 | +€4,852 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,494 | €51,346 | +€4,852 | +10.4% |
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 15 October 2026 via checked.be.