MITEL BELGIUM: 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.
What changed
MITEL BELGIUM
NACE 46.500, Wholesale of information and communication equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€437,034
2024 · €128,874+€308,161
Equity
€4.9m
2024 · €4.5m+€437,056
Cash
€330,082
2024 · €392,010-€61,928
Balance sheet total
€8.6m
2024 · €9.4m-€815,905
Largest movements
Assets
- Receivables after one year -€3.1m
down €3.1m (-69.8%), from €4.5m to €1.4m
- Receivables within one year +€2.5m
up €2.5m (+58.1%), from €4.3m to €6.8m
of which Trade receivables: +€2.5m
Equity and liabilities
- Provisions -€1.8m
down €1.8m (-83.5%), from €2.1m to €349,493
- Tax, wage and social debts +€999,169
up €999,169 (+85.1%), from €1.2m to €2.2m
of which Remuneration and social security: +€636,740
- Trade debts -€720,204
down €720,204 (-47.1%), from €1.5m to €807,751
- Profit (loss) carried forward +€437,034
up €437,034 (+149%), from €293,884 to €730,919
- Accrued charges and deferred income +€231,873
up €231,873 (+216%), from €107,567 to €339,440
Income statement
- Staff costs +€1.7m
up €1.7m (+42.8%), from €3.9m to €5.5m
- Gross operating margin +€1.5m
up €1.5m (+34.5%), from €4.3m to €5.8m
- Financial income +€444,545
up €444,545, from €0 to €444,545
- Write-downs -€113,622
down €113,622, from €96,615 to -€17,007
- Taxes +€110,616
up €110,616 (+83.7%), from €132,138 to €242,754
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.
Result 2024
€128,874
Gross operating margin
+€1.5m
Staff costs
-€1.7m
Depreciation
-€1,603
Write-downs
+€113,622
Other operating charges
+€5,257
Other operating items
+€23,539
Financial income
+€444,545
Financial charges
-€3,972
Taxes
-€110,616
Result 2025
€437,034
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€85,702
Investment
+€23,753
Financing
+€22
Cash 2024
€392,010
From operations (derived)
-€85,702
Net result for the year
+€437,034
Depreciation
+€16,523
Receivables after one year
+€3.1m
Stocks and contracts
+€22,583
Receivables within one year
-€2.5m
Deferred charges and accrued income
+€65,628
Provisions
-€1.8m
Trade debts
-€720,204
Tax, wage and social debts
+€999,169
Other debts
+€9,586
Accrued charges and deferred income
+€231,873
Investment (derived)
+€23,753
Investment in fixed assets (net)
+€23,753
Financing
+€22
Contributions, distributions and other
+€22
Cash 2025
€330,082
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,436,064 | €8,620,159 | -€815,905 | -8.6% |
| Fixed assets | 21/28 | €111,062 | €70,786 | -€40,276 | -36.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €20,573 | €46,484 | +€25,911 | +126% |
| Plant, machinery and equipment | 23 | €13,195 | €41,931 | +€28,735 | +218% |
| Furniture and vehicles | 24 | €940 | €0 | -€940 | -100% |
| Other tangible fixed assets | 26 | €6,437 | €4,553 | -€1,884 | -29.3% |
| Financial fixed assets | 28 | €90,489 | €24,302 | -€66,187 | -73.1% |
| Current assets | 29/58 | €9,325,003 | €8,549,373 | -€775,629 | -8.3% |
| Amounts receivable after more than one year | 29 | €4,485,010 | €1,352,910 | -€3.1m | -69.8% |
| Other amounts receivable | 291 | €4,485,010 | €1,352,910 | -€3.1m | -69.8% |
| Stocks and contracts in progress | 3 | €26,236 | €3,653 | -€22,583 | -86.1% |
| Stocks | 30/36 | €26,236 | €3,653 | -€22,583 | -86.1% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €4,316,749 | €6,823,358 | +€2.5m | +58.1% |
| Trade receivables | 40 | €4,316,749 | €6,810,113 | +€2.5m | +57.8% |
| Other amounts receivable | 41 | €0 | €13,245 | +€13,245 | +132,447,200% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €392,010 | €330,082 | -€61,928 | -15.8% |
| Deferred charges and accrued income | 490/1 | €104,998 | €39,370 | -€65,628 | -62.5% |
| Total equity and liabilities | 10/49 | €9,436,064 | €8,620,159 | -€815,905 | -8.6% |
| Equity | 10/15 | €4,502,152 | €4,939,208 | +€437,056 | +9.7% |
| Contributions | 10/11 | €3,828,268 | €3,828,289 | +€22 | 0.0% |
| Capital | 10 | €3,800,000 | €3,800,000 | = | 0.0% |
| Issued capital | 100 | €3,800,000 | €3,800,000 | = | 0.0% |
| Contributions outside capital | 11 | €28,268 | €28,289 | +€22 | +0.1% |
| Share premium | 1100/10 | €28,268 | €28,289 | +€22 | +0.1% |
| Reserves | 13 | €380,000 | €380,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €380,000 | €380,000 | = | 0.0% |
| Legal reserve | 130 | €380,000 | €380,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €293,884 | €730,919 | +€437,034 | +149% |
| Provisions and deferred taxes | 16 | €2,122,878 | €349,493 | -€1.8m | -83.5% |
| Provisions for liabilities and charges | 160/5 | €2,122,878 | €349,493 | -€1.8m | -83.5% |
| Pensions and similar obligations | 160 | €597,174 | €349,493 | -€247,681 | -41.5% |
| Other liabilities and charges | 164/5 | €1,525,704 | €0 | -€1.5m | -100% |
| Amounts payable | 17/49 | €2,811,035 | €3,331,458 | +€520,423 | +18.5% |
| Amounts payable within one year | 42/48 | €2,703,468 | €2,992,019 | +€288,551 | +10.7% |
| Trade debts | 44 | €1,527,955 | €807,751 | -€720,204 | -47.1% |
| Suppliers | 440/4 | €1,527,955 | €807,751 | -€720,204 | -47.1% |
| Taxes, remuneration and social security | 45 | €1,174,287 | €2,173,456 | +€999,169 | +85.1% |
| Taxes | 450/3 | €430,354 | €792,782 | +€362,429 | +84.2% |
| Remuneration and social security | 454/9 | €743,934 | €1,380,674 | +€636,740 | +85.6% |
| Other amounts payable | 47/48 | €1,226 | €10,812 | +€9,586 | +782% |
| Accrued charges and deferred income | 492/3 | €107,567 | €339,440 | +€231,873 | +216% |
| Non-recurring operating income | 76A | €89,794 | €11,000 | -€78,794 | -87.7% |
| Remuneration, social security and pensions | 62 | €3,872,225 | €5,530,039 | +€1.7m | +42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,920 | €16,523 | +€1,603 | +10.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €96,615 | -€17,007 | -€113,622 | |
| Other operating charges | 640/8 | €47,954 | €42,697 | -€5,257 | -11.0% |
| Non-recurring operating charges | 66A | €23,539 | €0 | -€23,539 | -100% |
| Gross operating margin | 9900 | €4,329,440 | €5,824,642 | +€1.5m | +34.5% |
| Operating profit (loss) | 9901 | €274,187 | €252,390 | -€21,797 | -7.9% |
| Financial income | 75/76B | €0 | €444,545 | +€444,545 | |
| Recurring financial income | 75 | €0 | €444,545 | +€444,545 | |
| Financial charges | 65/66B | €13,175 | €17,147 | +€3,972 | +30.1% |
| Recurring financial charges | 65 | €13,175 | €17,147 | +€3,972 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | €261,012 | €679,788 | +€418,776 | +160% |
| Income taxes | 67/77 | €132,138 | €242,754 | +€110,616 | +83.7% |
| Profit (loss) for the period | 9904 | €128,874 | €437,034 | +€308,161 | +239% |
| Profit (loss) for the period to be appropriated | 9905 | €128,874 | €437,034 | +€308,161 | +239% |
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 30 October 2026 via checked.be.