MISU: 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.
MISU
Largest movements
- Cash +€69,491
up €69,491 (+143.9%), from €48,293 to €117,784
mainly Net result for the year (+€82,106) and Depreciation (+€61,031)
- Tangible fixed assets -€50,749
down €50,749 (-9.8%), from €518,596 to €467,847
of which Other tangible fixed assets: -€26,771
- Deferred charges and accrued income -€37,134
down €37,134 (-88.6%), from €41,910 to €4,776
- Receivables within one year +€8,110
up €8,110 (+65.9%), from €12,312 to €20,422
of which Trade receivables: +€5,267
- Reserves +€82,000
up €82,000 (+72.9%), from €112,506 to €194,506
of which Distributable reserves: +€82,000
- Debts after one year -€57,959
down €57,959 (-15.8%), from €366,550 to €308,591
- Other debts -€45,000
down €45,000 (-100.0%), from €45,000 to €0
- Tax, wage and social debts +€7,276
up €7,276 (+49.4%), from €14,720 to €21,996
- Gross operating margin -€20,090
down €20,090 (-9.5%), from €211,162 to €191,072
- Taxes -€3,944
down €3,944 (-10.6%), from €37,267 to €33,324
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €621,112 | €610,829 | -€10,283 | -1.7% |
| Fixed assets | 21/28 | €518,596 | €467,847 | -€50,749 | -9.8% |
| Tangible fixed assets | 22/27 | €518,596 | €467,847 | -€50,749 | -9.8% |
| Land and buildings | 22 | €303,869 | €279,685 | -€24,184 | -8.0% |
| Furniture and vehicles | 24 | €3,204 | €3,410 | +€206 | +6.4% |
| Other tangible fixed assets | 26 | €211,523 | €184,752 | -€26,771 | -12.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €102,516 | €142,982 | +€40,466 | +39.5% |
| Amounts receivable within one year | 40/41 | €12,312 | €20,422 | +€8,110 | +65.9% |
| Trade receivables | 40 | €2,991 | €8,259 | +€5,267 | +176.1% |
| Other amounts receivable | 41 | €9,321 | €12,163 | +€2,842 | +30.5% |
| Cash at bank and in hand | 54/58 | €48,293 | €117,784 | +€69,491 | +143.9% |
| Deferred charges and accrued income | 490/1 | €41,910 | €4,776 | -€37,134 | -88.6% |
| Total equity and liabilities | 10/49 | €621,112 | €610,829 | -€10,283 | -1.7% |
| Equity | 10/15 | €131,968 | €214,074 | +€82,106 | +62.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,506 | €194,506 | +€82,000 | +72.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €112,506 | €194,506 | +€82,000 | +72.9% |
| Profit (loss) carried forward | 14 | €862 | €968 | +€106 | +12.3% |
| Amounts payable | 17/49 | €489,145 | €396,756 | -€92,389 | -18.9% |
| Amounts payable after more than one year | 17 | €366,550 | €308,591 | -€57,959 | -15.8% |
| Financial debts | 170/4 | €366,550 | €308,591 | -€57,959 | -15.8% |
| Amounts payable within one year | 42/48 | €122,540 | €88,165 | -€34,376 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €60,786 | €61,780 | +€994 | +1.6% |
| Trade debts | 44 | €2,034 | €4,389 | +€2,355 | +115.8% |
| Suppliers | 440/4 | €2,034 | €4,389 | +€2,355 | +115.8% |
| Taxes, remuneration and social security | 45 | €14,720 | €21,996 | +€7,276 | +49.4% |
| Taxes | 450/3 | €14,720 | €21,996 | +€7,276 | +49.4% |
| Other amounts payable | 47/48 | €45,000 | €0 | -€45,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €55 | €0 | -€55 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,477 | €61,031 | +€1,554 | +2.6% |
| Other operating charges | 640/8 | €4,000 | €4,449 | +€449 | +11.2% |
| Non-recurring operating charges | 66A | €19 | €0 | -€19 | -100.0% |
| Gross operating margin | 9900 | €211,162 | €191,072 | -€20,090 | -9.5% |
| Operating profit (loss) | 9901 | €147,666 | €125,591 | -€22,075 | -14.9% |
| Financial income | 75/76B | €1,614 | €49 | -€1,565 | -97.0% |
| Recurring financial income | 75 | €59 | €49 | -€11 | -17.7% |
| Non-recurring financial income | 76B | €1,555 | €0 | -€1,555 | -100.0% |
| Financial charges | 65/66B | €9,736 | €10,210 | +€475 | +4.9% |
| Recurring financial charges | 65 | €9,736 | €10,210 | +€475 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €139,545 | €115,430 | -€24,115 | -17.3% |
| Income taxes | 67/77 | €37,267 | €33,324 | -€3,944 | -10.6% |
| Profit (loss) for the period | 9904 | €102,278 | €82,106 | -€20,171 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €102,278 | €82,106 | -€20,171 | -19.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.