MITERA: 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.
MITERA
Largest movements
- Receivables within one year -€167,673
down €167,673 (-18.3%), from €914,673 to €746,999
of which Trade receivables: -€187,387
- Cash +€113,906
up €113,906 (+105.3%), from €108,132 to €222,038
mainly Receivables within one year (+€167,673) and Net result for the year (+€121,711)
- Tangible fixed assets -€37,393
down €37,393 (-7.3%), from €509,318 to €471,926
of which Leasing and similar rights: -€30,614
- Trade debts -€125,931
down €125,931 (-19.6%), from €643,559 to €517,628
- Reserves +€121,711
up €121,711 (+34.6%), from €351,735 to €473,445
- Debts after one year -€45,862
down €45,862 (-13.5%), from €339,439 to €293,577
- Other debts -€41,785
no longer reported in 2025 (was €41,785)
- Gross operating margin +€103,750
up €103,750 (+25.5%), from €407,400 to €511,151
- Staff costs +€54,468
up €54,468 (+28.0%), from €194,687 to €249,155
- Taxes +€24,813
up €24,813 (+63.5%), from €39,047 to €63,860
- Depreciation +€21,385
up €21,385 (+59.8%), from €35,767 to €57,152
- Financial charges +€11,597
up €11,597 (+219.2%), from €5,290 to €16,887
of which Financial charges: +€13,857
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 | €1,540,665 | €1,446,197 | -€94,468 | -6.1% |
| Fixed assets | 21/28 | €509,548 | €472,156 | -€37,393 | -7.3% |
| Tangible fixed assets | 22/27 | €509,318 | €471,926 | -€37,393 | -7.3% |
| Land and buildings | 22 | €388,238 | €378,032 | -€10,205 | -2.6% |
| Plant, machinery and equipment | 23 | €5,968 | €11,735 | +€5,767 | +96.6% |
| Furniture and vehicles | 24 | €18,369 | €16,028 | -€2,341 | -12.7% |
| Leasing and similar rights | 25 | €96,744 | €66,130 | -€30,614 | -31.6% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €1,031,116 | €974,042 | -€57,075 | -5.5% |
| Stocks and contracts in progress | 3 | €5,005 | €5,005 | = | 0.0% |
| Stocks | 30/36 | €5,005 | €5,005 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €914,673 | €746,999 | -€167,673 | -18.3% |
| Trade receivables | 40 | €898,744 | €711,357 | -€187,387 | -20.8% |
| Other amounts receivable | 41 | €15,929 | €35,642 | +€19,713 | +123.8% |
| Cash at bank and in hand | 54/58 | €108,132 | €222,038 | +€113,906 | +105.3% |
| Deferred charges and accrued income | 490/1 | €3,307 | - | -€3,307 | |
| Total equity and liabilities | 10/49 | €1,540,665 | €1,446,197 | -€94,468 | -6.1% |
| Equity | 10/15 | €357,935 | €479,645 | +€121,711 | +34.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €351,735 | €473,445 | +€121,711 | +34.6% |
| Distributable reserves | 133 | €351,735 | €473,445 | +€121,711 | +34.6% |
| Amounts payable | 17/49 | €1,182,730 | €966,552 | -€216,179 | -18.3% |
| Amounts payable after more than one year | 17 | €339,439 | €293,577 | -€45,862 | -13.5% |
| Financial debts | 170/4 | €339,439 | €293,577 | -€45,862 | -13.5% |
| Amounts payable within one year | 42/48 | €841,684 | €671,367 | -€170,317 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €56,643 | €45,862 | -€10,781 | -19.0% |
| Trade debts | 44 | €643,559 | €517,628 | -€125,931 | -19.6% |
| Suppliers | 440/4 | €643,559 | €517,628 | -€125,931 | -19.6% |
| Taxes, remuneration and social security | 45 | €99,697 | €107,877 | +€8,180 | +8.2% |
| Taxes | 450/3 | €57,501 | €67,782 | +€10,281 | +17.9% |
| Remuneration and social security | 454/9 | €42,196 | €40,094 | -€2,101 | -5.0% |
| Other amounts payable | 47/48 | €41,785 | - | -€41,785 | |
| Accrued charges and deferred income | 492/3 | €1,608 | €1,608 | = | 0.0% |
| Non-recurring operating income | 76A | - | €9,214 | +€9,214 | |
| Remuneration, social security and pensions | 62 | €194,687 | €249,155 | +€54,468 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,767 | €57,152 | +€21,385 | +59.8% |
| Other operating charges | 640/8 | €2,506 | €2,385 | -€121 | -4.8% |
| Non-recurring operating charges | 66A | €57,104 | - | -€57,104 | |
| Gross operating margin | 9900 | €407,400 | €511,151 | +€103,750 | +25.5% |
| Operating profit (loss) | 9901 | €117,336 | €202,458 | +€85,122 | +72.5% |
| Financial income | 75/76B | €3,692 | - | -€3,692 | |
| Recurring financial income | 75 | €3,692 | - | -€3,692 | |
| Financial charges | 65/66B | €5,290 | €16,887 | +€11,597 | +219.2% |
| Recurring financial charges | 65 | €3,030 | €16,887 | +€13,857 | +457.3% |
| Non-recurring financial charges | 66B | €2,260 | - | -€2,260 | |
| Profit (loss) for the period before taxes | 9903 | €115,738 | €185,571 | +€69,832 | +60.3% |
| Income taxes | 67/77 | €39,047 | €63,860 | +€24,813 | +63.5% |
| Profit (loss) for the period | 9904 | €76,692 | €121,711 | +€45,019 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,692 | €121,711 | +€45,019 | +58.7% |
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 8 October 2026 via checked.be.