MISZTAL 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.
MISZTAL MANAGEMENT
Largest movements
- Tangible fixed assets -€17,185
down €17,185 (-36.7%), from €46,834 to €29,649
- Deferred charges and accrued income -€13,492
down €13,492 (-86.2%), from €15,646 to €2,153
- Cash -€10,378
down €10,378 (-37.1%), from €27,978 to €17,600
mainly Other debts (-€38,644) and Debts after one year (-€36,739)
- Financial fixed assets +€10,000
up €10,000 (+2.4%), from €410,000 to €420,000
- Other debts -€38,644
down €38,644 (-38.6%), from €100,000 to €61,356
- Debts after one year -€36,739
down €36,739 (-13.3%), from €275,837 to €239,097
- Tax, wage and social debts +€32,384
up €32,384 (+286%), from €11,305 to €43,689
- Reserves +€30,368
up €30,368 (+65.8%), from €46,149 to €76,518
- Advances received -€12,100
no longer reported in 2025 (was €12,100)
- Taxes +€21,750
up €21,750 (+319%), from €6,817 to €28,566
- Financial income +€19,134
up €19,134 (+249%), from €7,689 to €26,823
- Depreciation +€12,482
up €12,482 (+265%), from €4,703 to €17,185
- Gross operating margin -€6,833
down €6,833 (-9.5%), from €71,576 to €64,743
- Other operating charges +€2,416
up €2,416 (+115%), from €2,104 to €4,520
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 | €504,794 | €469,419 | -€35,376 | -7.0% |
| Fixed assets | 21/28 | €456,834 | €449,649 | -€7,185 | -1.6% |
| Tangible fixed assets | 22/27 | €46,834 | €29,649 | -€17,185 | -36.7% |
| Furniture and vehicles | 24 | €46,834 | €29,649 | -€17,185 | -36.7% |
| Financial fixed assets | 28 | €410,000 | €420,000 | +€10,000 | +2.4% |
| Current assets | 29/58 | €47,961 | €19,770 | -€28,191 | -58.8% |
| Amounts receivable within one year | 40/41 | €4,337 | €17 | -€4,321 | -99.6% |
| Trade receivables | 40 | €4,203 | €17 | -€4,186 | -99.6% |
| Other amounts receivable | 41 | €134 | - | -€134 | |
| Cash at bank and in hand | 54/58 | €27,978 | €17,600 | -€10,378 | -37.1% |
| Deferred charges and accrued income | 490/1 | €15,646 | €2,153 | -€13,492 | -86.2% |
| Total equity and liabilities | 10/49 | €504,794 | €469,419 | -€35,376 | -7.0% |
| Equity | 10/15 | €64,336 | €86,518 | +€22,181 | +34.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €46,149 | €76,518 | +€30,368 | +65.8% |
| Distributable reserves | 133 | €46,149 | €76,518 | +€30,368 | +65.8% |
| Profit (loss) carried forward | 14 | €8,187 | - | -€8,187 | |
| Amounts payable | 17/49 | €440,458 | €382,901 | -€57,557 | -13.1% |
| Amounts payable after more than one year | 17 | €275,837 | €239,097 | -€36,739 | -13.3% |
| Financial debts | 170/4 | €275,837 | €239,097 | -€36,739 | -13.3% |
| Amounts payable within one year | 42/48 | €164,621 | €141,785 | -€22,837 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €36,924 | €36,739 | -€184 | -0.5% |
| Trade debts | 44 | €4,293 | - | -€4,293 | |
| Suppliers | 440/4 | €4,293 | - | -€4,293 | |
| Advances received on contracts in progress | 46 | €12,100 | - | -€12,100 | |
| Taxes, remuneration and social security | 45 | €11,305 | €43,689 | +€32,384 | +286% |
| Taxes | 450/3 | €11,305 | €43,689 | +€32,384 | +286% |
| Other amounts payable | 47/48 | €100,000 | €61,356 | -€38,644 | -38.6% |
| Accrued charges and deferred income | 492/3 | - | €2,019 | +€2,019 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,703 | €17,185 | +€12,482 | +265% |
| Other operating charges | 640/8 | €2,104 | €4,520 | +€2,416 | +115% |
| Gross operating margin | 9900 | €71,576 | €64,743 | -€6,833 | -9.5% |
| Operating profit (loss) | 9901 | €64,770 | €43,039 | -€21,731 | -33.6% |
| Financial income | 75/76B | €7,689 | €26,823 | +€19,134 | +249% |
| Recurring financial income | 75 | €7,689 | €26,823 | +€19,134 | +249% |
| Financial charges | 65/66B | €19,492 | €19,114 | -€378 | -1.9% |
| Recurring financial charges | 65 | €19,492 | €19,114 | -€378 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €52,966 | €50,748 | -€2,218 | -4.2% |
| Income taxes | 67/77 | €6,817 | €28,566 | +€21,750 | +319% |
| Profit (loss) for the period | 9904 | €46,149 | €22,181 | -€23,968 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,149 | €22,181 | -€23,968 | -51.9% |
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 25 October 2026 via checked.be.