MIURA: 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.
MIURA
Largest movements
- Receivables after one year +€1.8m
new in 2025: €1.8m
- Financial fixed assets +€398,032
up €398,032 (+19.0%), from €2.1m to €2.5m
- Receivables within one year -€366,978
down €366,978 (-100%), from €366,978 to €0
- Deferred charges and accrued income +€239,735
up €239,735 (+519%), from €46,159 to €285,894
- Cash +€151,369
up €151,369 (+26.1%), from €579,243 to €730,611
mainly Debts after one year (+€1.7m) and Net result for the year (+€1.4m)
- Debts after one year +€1.7m
up €1.7m (+216%), from €802,199 to €2.5m
of which Other amounts payable: +€2.0m
- Reserves +€190,749
up €190,749 (+15.5%), from €1.2m to €1.4m
of which Tax-exempt reserves: +€126,300
- Other debts +€123,953
up €123,953 (+22.5%), from €551,047 to €675,000
- Accrued charges and deferred income +€87,249
up €87,249 (+157%), from €55,612 to €142,861
- Short-term financial debts +€59,997
up €59,997 (+506%), from €11,860 to €71,856
- Gross operating margin +€345,372
up €345,372 (+27.6%), from €1.3m to €1.6m
- Financial income +€219,840
up €219,840 (+476%), from €46,158 to €265,998
- Taxes +€84,658
up €84,658 (+62.4%), from €135,588 to €220,246
- Staff costs +€21,068
up €21,068 (+17.7%), from €119,359 to €140,426
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 | €3,095,961 | €5,329,924 | +€2.2m | +72.2% |
| Fixed assets | 21/28 | €2,103,581 | €2,488,419 | +€384,839 | +18.3% |
| Tangible fixed assets | 22/27 | €13,967 | €774 | -€13,193 | -94.5% |
| Furniture and vehicles | 24 | €13,967 | €774 | -€13,193 | -94.5% |
| Financial fixed assets | 28 | €2,089,613 | €2,487,645 | +€398,032 | +19.0% |
| Current assets | 29/58 | €992,380 | €2,841,505 | +€1.8m | +186% |
| Amounts receivable after more than one year | 29 | - | €1,825,000 | +€1.8m | |
| Other amounts receivable | 291 | - | €1,825,000 | +€1.8m | |
| Amounts receivable within one year | 40/41 | €366,978 | €0 | -€366,978 | -100% |
| Other amounts receivable | 41 | €366,978 | €0 | -€366,978 | -100% |
| Cash at bank and in hand | 54/58 | €579,243 | €730,611 | +€151,369 | +26.1% |
| Deferred charges and accrued income | 490/1 | €46,159 | €285,894 | +€239,735 | +519% |
| Total equity and liabilities | 10/49 | €3,095,961 | €5,329,924 | +€2.2m | +72.2% |
| Equity | 10/15 | €1,365,415 | €1,556,164 | +€190,749 | +14.0% |
| Contributions | 10/11 | €137,500 | €137,500 | = | 0.0% |
| Reserves | 13 | €1,227,915 | €1,418,664 | +€190,749 | +15.5% |
| Tax-exempt reserves | 132 | €84,200 | €210,500 | +€126,300 | +150% |
| Distributable reserves | 133 | €1,143,715 | €1,208,164 | +€64,449 | +5.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,730,546 | €3,773,761 | +€2.0m | +118% |
| Amounts payable after more than one year | 17 | €802,199 | €2,533,299 | +€1.7m | +216% |
| Financial debts | 170/4 | €802,199 | €582,299 | -€219,900 | -27.4% |
| Other amounts payable | 178/9 | - | €1,951,000 | +€2.0m | |
| Amounts payable within one year | 42/48 | €872,735 | €1,097,600 | +€224,865 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €230,935 | €220,753 | -€10,182 | -4.4% |
| Financial debts | 43 | €11,860 | €71,856 | +€59,997 | +506% |
| Other loans | 439 | €11,860 | €71,856 | +€59,997 | +506% |
| Trade debts | 44 | €1,737 | €25,603 | +€23,865 | +1,374% |
| Suppliers | 440/4 | €1,737 | €25,603 | +€23,865 | +1,374% |
| Taxes, remuneration and social security | 45 | €77,156 | €104,388 | +€27,232 | +35.3% |
| Taxes | 450/3 | €65,588 | €74,661 | +€9,073 | +13.8% |
| Remuneration and social security | 454/9 | €11,568 | €29,727 | +€18,159 | +157% |
| Other amounts payable | 47/48 | €551,047 | €675,000 | +€123,953 | +22.5% |
| Accrued charges and deferred income | 492/3 | €55,612 | €142,861 | +€87,249 | +157% |
| Remuneration, social security and pensions | 62 | €119,359 | €140,426 | +€21,068 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,038 | €13,193 | +€155 | +1.2% |
| Other operating charges | 640/8 | €1,598 | €1,648 | +€50 | +3.1% |
| Gross operating margin | 9900 | €1,253,406 | €1,598,778 | +€345,372 | +27.6% |
| Operating profit (loss) | 9901 | €1,119,411 | €1,443,510 | +€324,100 | +29.0% |
| Financial income | 75/76B | €46,158 | €265,998 | +€219,840 | +476% |
| Recurring financial income | 75 | €46,158 | €265,998 | +€219,840 | +476% |
| Financial charges | 65/66B | €93,442 | €101,331 | +€7,889 | +8.4% |
| Recurring financial charges | 65 | €93,442 | €101,331 | +€7,889 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €1,072,126 | €1,608,177 | +€536,051 | +50.0% |
| Income taxes | 67/77 | €135,588 | €220,246 | +€84,658 | +62.4% |
| Profit (loss) for the period | 9904 | €936,539 | €1,387,931 | +€451,393 | +48.2% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €936,539 | €1,261,631 | +€325,093 | +34.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.