MIVAPHARM: 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.
MIVAPHARM
Largest movements
- Current investments +€37,130
up €37,130 (+20.3%), from €183,291 to €220,420
- Cash +€23,888
up €23,888 (+50.9%), from €46,916 to €70,805
mainly Net result for the year (+€86,667) and Receivables within one year (+€10,608)
- Reserves +€58,000
up €58,000 (+13.2%), from €439,400 to €497,400
- Financial income +€20,593
up €20,593 (+121.0%), from €17,022 to €37,614
- Gross operating margin +€13,555
up €13,555 (+12.9%), from €105,333 to €118,888
- Depreciation +€7,247
up €7,247 (+293.8%), from €2,467 to €9,715
- Taxes +€5,137
up €5,137 (+27.1%), from €18,986 to €24,123
- Financial charges -€3,187
down €3,187 (-8.2%), from €38,871 to €35,684
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 | €1,184,439 | €1,227,845 | +€43,405 | +3.7% |
| Fixed assets | 21/28 | €942,337 | €935,315 | -€7,021 | -0.7% |
| Tangible fixed assets | 22/27 | €44,564 | €37,543 | -€7,021 | -15.8% |
| Furniture and vehicles | 24 | €44,564 | €37,543 | -€7,021 | -15.8% |
| Financial fixed assets | 28 | €897,773 | €897,773 | = | 0.0% |
| Current assets | 29/58 | €242,103 | €292,530 | +€50,427 | +20.8% |
| Amounts receivable within one year | 40/41 | €10,608 | - | -€10,608 | |
| Trade receivables | 40 | €7,989 | - | -€7,989 | |
| Other amounts receivable | 41 | €2,619 | - | -€2,619 | |
| Current investments | 50/53 | €183,291 | €220,420 | +€37,130 | +20.3% |
| Cash at bank and in hand | 54/58 | €46,916 | €70,805 | +€23,888 | +50.9% |
| Deferred charges and accrued income | 490/1 | €1,287 | €1,304 | +€17 | +1.3% |
| Total equity and liabilities | 10/49 | €1,184,439 | €1,227,845 | +€43,405 | +3.7% |
| Equity | 10/15 | €563,588 | €621,589 | +€58,001 | +10.3% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €439,400 | €497,400 | +€58,000 | +13.2% |
| Distributable reserves | 133 | €439,400 | €497,400 | +€58,000 | +13.2% |
| Profit (loss) carried forward | 14 | €188 | €189 | +€1 | +0.5% |
| Amounts payable | 17/49 | €620,852 | €606,256 | -€14,596 | -2.4% |
| Amounts payable after more than one year | 17 | €18,092 | €11,925 | -€6,167 | -34.1% |
| Financial debts | 170/4 | €18,092 | €11,925 | -€6,167 | -34.1% |
| Amounts payable within one year | 42/48 | €564,338 | €559,472 | -€4,866 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €5,940 | €6,167 | +€227 | +3.8% |
| Trade debts | 44 | €3,120 | €605 | -€2,515 | -80.6% |
| Suppliers | 440/4 | €3,120 | €605 | -€2,515 | -80.6% |
| Taxes, remuneration and social security | 45 | €13,279 | €18,367 | +€5,088 | +38.3% |
| Taxes | 450/3 | €13,279 | €18,367 | +€5,088 | +38.3% |
| Other amounts payable | 47/48 | €542,000 | €534,333 | -€7,667 | -1.4% |
| Accrued charges and deferred income | 492/3 | €38,422 | €34,859 | -€3,563 | -9.3% |
| Non-recurring operating income | 76A | €5,639 | - | -€5,639 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,467 | €9,715 | +€7,247 | +293.8% |
| Other operating charges | 640/8 | €828 | €313 | -€515 | -62.2% |
| Gross operating margin | 9900 | €105,333 | €118,888 | +€13,555 | +12.9% |
| Operating profit (loss) | 9901 | €102,038 | €108,860 | +€6,822 | +6.7% |
| Financial income | 75/76B | €17,022 | €37,614 | +€20,593 | +121.0% |
| Recurring financial income | 75 | €17,022 | €37,614 | +€20,593 | +121.0% |
| Financial charges | 65/66B | €38,871 | €35,684 | -€3,187 | -8.2% |
| Recurring financial charges | 65 | €38,871 | €35,684 | -€3,187 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €80,188 | €110,790 | +€30,602 | +38.2% |
| Income taxes | 67/77 | €18,986 | €24,123 | +€5,137 | +27.1% |
| Profit (loss) for the period | 9904 | €61,202 | €86,667 | +€25,465 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,202 | €86,667 | +€25,465 | +41.6% |
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 10 October 2026 via checked.be.