MITA4: 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.
MITA4
Largest movements
- Receivables after one year -€1.5m
down €1.5m (-42.9%), from €3.5m to €2.0m
- Current investments +€1.5m
up €1.5m (+7.3%), from €20.3m to €21.8m
- Cash +€551,168
up €551,168 (+181.9%), from €303,032 to €854,199
mainly Receivables after one year (+€1.5m) and Short-term financial debts (+€900,000)
- Short-term financial debts +€900,000
new in 2025: €900,000
- Tax, wage and social debts -€671,946
down €671,946 (-64.8%), from €1.0m to €364,282
- Financial income -€639,339
down €639,339 (-47.7%), from €1.3m to €699,867
of which Financial income: -€577,644
- Taxes -€346,463
down €346,463 (-89.4%), from €387,604 to €41,141
- Financial charges +€301,628
up €301,628 (+2494.9%), from €12,090 to €313,718
of which Financial charges: +€301,628
- Gross operating margin -€48,660
down €48,660, from €712 to -€47,948
- Other operating charges +€8,119
up €8,119 (+14.1%), from €57,578 to €65,697
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 | €35,899,116 | €36,344,553 | +€445,437 | +1.2% |
| Fixed assets | 21/28 | €11,293,287 | €11,133,986 | -€159,301 | -1.4% |
| Financial fixed assets | 28 | €11,293,287 | €11,133,986 | -€159,301 | -1.4% |
| Current assets | 29/58 | €24,605,829 | €25,210,567 | +€604,738 | +2.5% |
| Amounts receivable after more than one year | 29 | €3,500,000 | €2,000,000 | -€1.5m | -42.9% |
| Other amounts receivable | 291 | €3,500,000 | €2,000,000 | -€1.5m | -42.9% |
| Amounts receivable within one year | 40/41 | €514,142 | €457,088 | -€57,055 | -11.1% |
| Other amounts receivable | 41 | €514,142 | €457,088 | -€57,055 | -11.1% |
| Current investments | 50/53 | €20,288,655 | €21,776,575 | +€1.5m | +7.3% |
| Cash at bank and in hand | 54/58 | €303,032 | €854,199 | +€551,168 | +181.9% |
| Deferred charges and accrued income | 490/1 | €0 | €122,705 | +€122,705 | |
| Total equity and liabilities | 10/49 | €35,899,116 | €36,344,553 | +€445,437 | +1.2% |
| Equity | 10/15 | €5,189,237 | €5,393,537 | +€204,300 | +3.9% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Reserves | 13 | €830,961 | €830,961 | = | 0.0% |
| Distributable reserves | 133 | €830,961 | €830,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | €358,276 | €562,577 | +€204,300 | +57.0% |
| Amounts payable | 17/49 | €30,709,879 | €30,951,016 | +€241,137 | +0.8% |
| Amounts payable after more than one year | 17 | €29,639,723 | €29,639,723 | = | 0.0% |
| Financial debts | 170/4 | €29,639,723 | €29,639,723 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,070,155 | €1,298,546 | +€228,391 | +21.3% |
| Financial debts | 43 | - | €900,000 | +€900,000 | |
| Credit institutions | 430/8 | - | €900,000 | +€900,000 | |
| Trade debts | 44 | €33,927 | €34,264 | +€336 | +1.0% |
| Suppliers | 440/4 | €33,927 | €34,264 | +€336 | +1.0% |
| Taxes, remuneration and social security | 45 | €1,036,228 | €364,282 | -€671,946 | -64.8% |
| Taxes | 450/3 | €1,036,228 | €364,282 | -€671,946 | -64.8% |
| Accrued charges and deferred income | 492/3 | - | €12,746 | +€12,746 | |
| Other operating charges | 640/8 | €57,578 | €65,697 | +€8,119 | +14.1% |
| Non-recurring operating charges | 66A | €51,685 | €27,063 | -€24,622 | -47.6% |
| Gross operating margin | 9900 | €712 | -€47,948 | -€48,660 | |
| Operating profit (loss) | 9901 | -€108,551 | -€140,708 | -€32,157 | -29.6% |
| Financial income | 75/76B | €1,339,206 | €699,867 | -€639,339 | -47.7% |
| Recurring financial income | 75 | €1,277,152 | €699,507 | -€577,644 | -45.2% |
| Non-recurring financial income | 76B | €62,054 | €359 | -€61,695 | -99.4% |
| Financial charges | 65/66B | €12,090 | €313,718 | +€301,628 | +2494.9% |
| Recurring financial charges | 65 | €12,090 | €313,718 | +€301,628 | +2494.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €1,218,565 | €245,441 | -€973,124 | -79.9% |
| Income taxes | 67/77 | €387,604 | €41,141 | -€346,463 | -89.4% |
| Profit (loss) for the period | 9904 | €830,961 | €204,300 | -€626,661 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €830,961 | €204,300 | -€626,661 | -75.4% |
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 30 September 2026 via checked.be.