MiTho: 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.
MiTho
Largest movements
- Financial fixed assets +€450,000
new in 2025: €450,000
- Cash -€29,274
down €29,274 (-49.5%), from €59,096 to €29,821
mainly Investment in fixed assets (net) (-€450,000) and Receivables within one year (-€5,000)
- Debts after one year +€356,243
new in 2025: €356,243
- Reserves +€22,230
up €22,230 (+79.2%), from €28,084 to €50,314
- Current portion of long-term debt +€18,653
new in 2025: €18,653
- Other debts +€14,708
up €14,708 (+44.3%), from €33,211 to €47,919
- Accrued charges and deferred income +€5,325
new in 2025: €5,325
- Financial charges +€13,111
up €13,111 (+1,680%), from €780 to €13,891
- Gross operating margin +€9,623
up €9,623 (+26.7%), from €36,054 to €45,677
- Taxes +€1,501
up €1,501 (+21.0%), from €7,140 to €8,641
- Other operating charges +€865
up €865 (+1,730%), from €50 to €915
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 | €102,477 | €525,835 | +€423,358 | +413% |
| Fixed assets | 21/28 | - | €450,000 | +€450,000 | |
| Financial fixed assets | 28 | - | €450,000 | +€450,000 | |
| Current assets | 29/58 | €102,477 | €75,835 | -€26,642 | -26.0% |
| Amounts receivable within one year | 40/41 | €30,000 | €35,000 | +€5,000 | +16.7% |
| Trade receivables | 40 | €30,000 | €35,000 | +€5,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €59,096 | €29,821 | -€29,274 | -49.5% |
| Deferred charges and accrued income | 490/1 | €13,381 | €11,013 | -€2,367 | -17.7% |
| Total equity and liabilities | 10/49 | €102,477 | €525,835 | +€423,358 | +413% |
| Equity | 10/15 | €48,084 | €70,314 | +€22,230 | +46.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,084 | €50,314 | +€22,230 | +79.2% |
| Distributable reserves | 133 | €28,084 | €50,314 | +€22,230 | +79.2% |
| Amounts payable | 17/49 | €54,393 | €455,521 | +€401,128 | +737% |
| Amounts payable after more than one year | 17 | - | €356,243 | +€356,243 | |
| Financial debts | 170/4 | - | €356,243 | +€356,243 | |
| Amounts payable within one year | 42/48 | €54,393 | €93,953 | +€39,560 | +72.7% |
| Current portion of amounts payable after more than one year | 42 | - | €18,653 | +€18,653 | |
| Trade debts | 44 | €14 | €3,108 | +€3,094 | +21,866% |
| Suppliers | 440/4 | €14 | €3,108 | +€3,094 | +21,866% |
| Taxes, remuneration and social security | 45 | €21,167 | €24,273 | +€3,105 | +14.7% |
| Taxes | 450/3 | €21,167 | €24,273 | +€3,105 | +14.7% |
| Other amounts payable | 47/48 | €33,211 | €47,919 | +€14,708 | +44.3% |
| Accrued charges and deferred income | 492/3 | - | €5,325 | +€5,325 | |
| Other operating charges | 640/8 | €50 | €915 | +€865 | +1,730% |
| Gross operating margin | 9900 | €36,054 | €45,677 | +€9,623 | +26.7% |
| Operating profit (loss) | 9901 | €36,004 | €44,762 | +€8,758 | +24.3% |
| Financial charges | 65/66B | €780 | €13,891 | +€13,111 | +1,680% |
| Recurring financial charges | 65 | €780 | €13,891 | +€13,111 | +1,680% |
| Profit (loss) for the period before taxes | 9903 | €35,223 | €30,871 | -€4,353 | -12.4% |
| Income taxes | 67/77 | €7,140 | €8,641 | +€1,501 | +21.0% |
| Profit (loss) for the period | 9904 | €28,084 | €22,230 | -€5,854 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,084 | €22,230 | -€5,854 | -20.8% |
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 13 October 2026 via checked.be.