MIVA: 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.
MIVA
Largest movements
- Tangible fixed assets +€49,469
up €49,469 (+62.4%), from €79,236 to €128,704
of which Furniture and vehicles: +€45,332
- Cash +€30,771
up €30,771 (+29.5%), from €104,242 to €135,013
mainly Depreciation (+€29,322) and Tax, wage and social debts (+€27,877)
- Receivables within one year -€9,474
down €9,474 (-11.1%), from €85,220 to €75,746
- Tax, wage and social debts +€27,877
up €27,877 (+21.0%), from €132,739 to €160,616
of which Taxes: +€24,863
- Trade debts +€25,535
up €25,535 (+3,328%), from €767 to €26,302
- Reserves +€11,452
up €11,452 (+6.9%), from €165,585 to €177,038
- Other debts +€5,000
new in 2025: €5,000
- Gross operating margin +€126,895
up €126,895 (+19.9%), from €636,783 to €763,678
- Staff costs -€52,116
down €52,116 (-7.8%), from €670,112 to €617,996
- Taxes +€41,526
up €41,526 (+623%), from €6,664 to €48,190
- Other operating charges +€37,754
up €37,754 (+7,355%), from €513 to €38,267
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 | €317,692 | €387,556 | +€69,864 | +22.0% |
| Fixed assets | 21/28 | €79,236 | €128,704 | +€49,469 | +62.4% |
| Tangible fixed assets | 22/27 | €79,236 | €128,704 | +€49,469 | +62.4% |
| Land and buildings | 22 | €9,549 | €12,233 | +€2,684 | +28.1% |
| Plant, machinery and equipment | 23 | €11,154 | €12,607 | +€1,453 | +13.0% |
| Furniture and vehicles | 24 | €58,532 | €103,865 | +€45,332 | +77.4% |
| Current assets | 29/58 | €238,456 | €258,852 | +€20,395 | +8.6% |
| Stocks and contracts in progress | 3 | €39,841 | €38,459 | -€1,381 | -3.5% |
| Stocks | 30/36 | €39,841 | €38,459 | -€1,381 | -3.5% |
| Amounts receivable within one year | 40/41 | €85,220 | €75,746 | -€9,474 | -11.1% |
| Other amounts receivable | 41 | €85,220 | €75,746 | -€9,474 | -11.1% |
| Cash at bank and in hand | 54/58 | €104,242 | €135,013 | +€30,771 | +29.5% |
| Deferred charges and accrued income | 490/1 | €9,154 | €9,634 | +€480 | +5.2% |
| Total equity and liabilities | 10/49 | €317,692 | €387,556 | +€69,864 | +22.0% |
| Equity | 10/15 | €184,185 | €195,638 | +€11,452 | +6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €165,585 | €177,038 | +€11,452 | +6.9% |
| Distributable reserves | 133 | €165,585 | €177,038 | +€11,452 | +6.9% |
| Amounts payable | 17/49 | €133,507 | €191,918 | +€58,412 | +43.8% |
| Amounts payable within one year | 42/48 | €133,507 | €191,918 | +€58,412 | +43.8% |
| Trade debts | 44 | €767 | €26,302 | +€25,535 | +3,328% |
| Suppliers | 440/4 | €767 | €26,302 | +€25,535 | +3,328% |
| Taxes, remuneration and social security | 45 | €132,739 | €160,616 | +€27,877 | +21.0% |
| Taxes | 450/3 | €50,969 | €75,832 | +€24,863 | +48.8% |
| Remuneration and social security | 454/9 | €81,771 | €84,784 | +€3,013 | +3.7% |
| Other amounts payable | 47/48 | - | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €670,112 | €617,996 | -€52,116 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,464 | €29,322 | +€4,858 | +19.9% |
| Other operating charges | 640/8 | €513 | €38,267 | +€37,754 | +7,355% |
| Non-recurring operating charges | 66A | - | €11,776 | +€11,776 | |
| Gross operating margin | 9900 | €636,783 | €763,678 | +€126,895 | +19.9% |
| Operating profit (loss) | 9901 | -€58,307 | €66,317 | +€124,624 | |
| Financial income | 75/76B | €703 | €4,684 | +€3,981 | +566% |
| Recurring financial income | 75 | €703 | €4,684 | +€3,981 | +566% |
| Financial charges | 65/66B | €4,663 | €11,358 | +€6,695 | +144% |
| Recurring financial charges | 65 | €4,663 | €11,358 | +€6,695 | +144% |
| Profit (loss) for the period before taxes | 9903 | -€62,267 | €59,643 | +€121,909 | |
| Income taxes | 67/77 | €6,664 | €48,190 | +€41,526 | +623% |
| Profit (loss) for the period | 9904 | -€68,931 | €11,452 | +€80,383 | |
| Profit (loss) for the period to be appropriated | 9905 | -€68,931 | €11,452 | +€80,383 |
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 29 October 2026 via checked.be.