MITIS: 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.
MITIS
Largest movements
- Cash -€1.5m
down €1.5m (-86.6%), from €1.7m to €232,179
mainly Investment in fixed assets (net) (-€1.5m) and Net result for the year (-€936,080)
- Intangible fixed assets +€435,853
up €435,853 (+18.6%), from €2.3m to €2.8m
- Receivables within one year +€341,645
up €341,645 (+269.9%), from €126,605 to €468,250
of which Trade receivables: +€258,835
- Profit (loss) carried forward -€936,080
down €936,080 (-36.2%), from -€2.6m to -€3.5m
- Other debts -€239,303
down €239,303 (-53.1%), from €450,289 to €210,986
- Investment grants +€209,516
up €209,516 (+18.0%), from €1.2m to €1.4m
- Short-term financial debts +€144,479
up €144,479 (+365.2%), from €39,557 to €184,036
- Trade debts +€114,107
up €114,107 (+60.6%), from €188,296 to €302,403
- Gross operating margin +€54,394
up €54,394 (+14.1%), from €385,288 to €439,682
- Other operating charges -€48,145
down €48,145 (-75.8%), from €63,481 to €15,336
- Staff costs +€44,955
up €44,955 (+4.7%), from €948,781 to €993,737
- Depreciation +€30,528
up €30,528 (+3.0%), from €1.0m to €1.0m
- Financial income -€25,503
down €25,503 (-4.5%), from €568,507 to €543,004
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 | €4,564,976 | €3,903,049 | -€661,927 | -14.5% |
| Formation expenses | 20 | €5,496 | €3,392 | -€2,104 | -38.3% |
| Fixed assets | 21/28 | €2,489,056 | €2,962,688 | +€473,632 | +19.0% |
| Intangible fixed assets | 21 | €2,339,338 | €2,775,191 | +€435,853 | +18.6% |
| Tangible fixed assets | 22/27 | €127,868 | €159,147 | +€31,279 | +24.5% |
| Plant, machinery and equipment | 23 | €110,184 | €137,213 | +€27,028 | +24.5% |
| Furniture and vehicles | 24 | €17,684 | €19,261 | +€1,577 | +8.9% |
| Other tangible fixed assets | 26 | - | €2,673 | +€2,673 | |
| Financial fixed assets | 28 | €21,849 | €28,349 | +€6,500 | +29.7% |
| Current assets | 29/58 | €2,070,425 | €936,970 | -€1.1m | -54.7% |
| Amounts receivable after more than one year | 29 | €110,498 | €140,687 | +€30,189 | +27.3% |
| Other amounts receivable | 291 | €110,498 | €140,687 | +€30,189 | +27.3% |
| Amounts receivable within one year | 40/41 | €126,605 | €468,250 | +€341,645 | +269.9% |
| Trade receivables | 40 | €77,068 | €335,903 | +€258,835 | +335.9% |
| Other amounts receivable | 41 | €49,537 | €132,347 | +€82,810 | +167.2% |
| Cash at bank and in hand | 54/58 | €1,736,278 | €232,179 | -€1.5m | -86.6% |
| Deferred charges and accrued income | 490/1 | €97,044 | €95,853 | -€1,191 | -1.2% |
| Total equity and liabilities | 10/49 | €4,564,976 | €3,903,049 | -€661,927 | -14.5% |
| Equity | 10/15 | €3,164,650 | €2,438,087 | -€726,563 | -23.0% |
| Contributions | 10/11 | €4,586,543 | €4,586,543 | = | 0.0% |
| Capital | 10 | €4,586,543 | €4,586,543 | = | 0.0% |
| Issued capital | 100 | €4,586,543 | €4,586,543 | = | 0.0% |
| Reserves | 13 | €784 | €784 | = | 0.0% |
| Non-distributable reserves | 130/1 | €784 | €784 | = | 0.0% |
| Legal reserve | 130 | €784 | €784 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,585,967 | -€3,522,047 | -€936,080 | -36.2% |
| Investment grants | 15 | €1,163,290 | €1,372,806 | +€209,516 | +18.0% |
| Provisions and deferred taxes | 16 | €328,555 | €313,898 | -€14,658 | -4.5% |
| Deferred taxes | 168 | €328,555 | €313,898 | -€14,658 | -4.5% |
| Amounts payable | 17/49 | €1,071,771 | €1,151,065 | +€79,294 | +7.4% |
| Amounts payable after more than one year | 17 | €173,846 | €203,073 | +€29,227 | +16.8% |
| Financial debts | 170/4 | €173,846 | €203,073 | +€29,227 | +16.8% |
| Amounts payable within one year | 42/48 | €840,141 | €898,207 | +€58,066 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €59,546 | €101,329 | +€41,782 | +70.2% |
| Financial debts | 43 | €39,557 | €184,036 | +€144,479 | +365.2% |
| Other loans | 439 | €39,557 | €184,036 | +€144,479 | +365.2% |
| Trade debts | 44 | €188,296 | €302,403 | +€114,107 | +60.6% |
| Suppliers | 440/4 | €188,296 | €302,403 | +€114,107 | +60.6% |
| Taxes, remuneration and social security | 45 | €102,453 | €99,453 | -€3,000 | -2.9% |
| Taxes | 450/3 | €2,073 | €1,362 | -€711 | -34.3% |
| Remuneration and social security | 454/9 | €100,379 | €98,091 | -€2,289 | -2.3% |
| Other amounts payable | 47/48 | €450,289 | €210,986 | -€239,303 | -53.1% |
| Accrued charges and deferred income | 492/3 | €57,784 | €49,785 | -€7,999 | -13.8% |
| Remuneration, social security and pensions | 62 | €948,781 | €993,737 | +€44,955 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,018,815 | €1,049,343 | +€30,528 | +3.0% |
| Other operating charges | 640/8 | €63,481 | €15,336 | -€48,145 | -75.8% |
| Gross operating margin | 9900 | €385,288 | €439,682 | +€54,394 | +14.1% |
| Operating profit (loss) | 9901 | -€1,645,790 | -€1,618,734 | +€27,056 | +1.6% |
| Financial income | 75/76B | €568,507 | €543,004 | -€25,503 | -4.5% |
| Recurring financial income | 75 | €568,507 | €543,004 | -€25,503 | -4.5% |
| Financial charges | 65/66B | €39,465 | €25,498 | -€13,967 | -35.4% |
| Recurring financial charges | 65 | €39,465 | €25,498 | -€13,967 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,116,747 | -€1,101,227 | +€15,520 | +1.4% |
| Transfer from deferred taxes | 780 | €131,183 | €137,289 | +€6,106 | +4.7% |
| Income taxes | 67/77 | -€16,908 | -€27,858 | -€10,950 | -64.8% |
| Profit (loss) for the period | 9904 | -€968,656 | -€936,080 | +€32,577 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€968,656 | -€936,080 | +€32,577 | +3.4% |
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 5 October 2026 via checked.be.