MivaR: 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.
MivaR
Largest movements
- Tangible fixed assets +€25,604
up €25,604 (+3.2%), from €793,494 to €819,099
of which Other tangible fixed assets: +€65,418
- Profit (loss) carried forward +€56,931
up €56,931 (+38.7%), from €147,000 to €203,931
- Debts after one year -€26,618
down €26,618 (-3.2%), from €833,376 to €806,758
- Taxes -€10,052
down €10,052 (-54.2%), from €18,544 to €8,492
- Depreciation +€5,047
up €5,047 (+12.7%), from €39,596 to €44,643
- Gross operating margin -€4,095
down €4,095 (-3.0%), from €137,175 to €133,080
- Financial charges -€2,511
down €2,511 (-11.5%), from €21,879 to €19,368
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 | €1,234,098 | €1,260,793 | +€26,695 | +2.2% |
| Fixed assets | 21/28 | €1,206,282 | €1,231,886 | +€25,604 | +2.1% |
| Tangible fixed assets | 22/27 | €793,494 | €819,099 | +€25,604 | +3.2% |
| Land and buildings | 22 | €750,520 | €713,324 | -€37,196 | -5.0% |
| Plant, machinery and equipment | 23 | €24,553 | €22,168 | -€2,385 | -9.7% |
| Furniture and vehicles | 24 | €861 | €629 | -€232 | -27.0% |
| Other tangible fixed assets | 26 | €17,560 | €82,978 | +€65,418 | +373% |
| Financial fixed assets | 28 | €412,788 | €412,788 | = | 0.0% |
| Current assets | 29/58 | €27,816 | €28,906 | +€1,090 | +3.9% |
| Amounts receivable within one year | 40/41 | €17,156 | €22,753 | +€5,597 | +32.6% |
| Trade receivables | 40 | €15,967 | €15,245 | -€722 | -4.5% |
| Other amounts receivable | 41 | €1,189 | €7,508 | +€6,318 | +531% |
| Cash at bank and in hand | 54/58 | €10,650 | €5,310 | -€5,341 | -50.1% |
| Deferred charges and accrued income | 490/1 | €10 | €844 | +€834 | +8,529% |
| Total equity and liabilities | 10/49 | €1,234,098 | €1,260,793 | +€26,695 | +2.2% |
| Equity | 10/15 | €232,000 | €288,931 | +€56,931 | +24.5% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,000 | €203,931 | +€56,931 | +38.7% |
| Amounts payable | 17/49 | €1,002,098 | €971,862 | -€30,236 | -3.0% |
| Amounts payable after more than one year | 17 | €833,376 | €806,758 | -€26,618 | -3.2% |
| Financial debts | 170/4 | €833,376 | €806,758 | -€26,618 | -3.2% |
| Amounts payable within one year | 42/48 | €168,192 | €165,104 | -€3,089 | -1.8% |
| Financial debts | 43 | €79,903 | €87,146 | +€7,243 | +9.1% |
| Credit institutions | 430/8 | €79,903 | €87,146 | +€7,243 | +9.1% |
| Trade debts | 44 | €1,984 | €1,772 | -€212 | -10.7% |
| Suppliers | 440/4 | €1,984 | €1,772 | -€212 | -10.7% |
| Taxes, remuneration and social security | 45 | €9,632 | €10,266 | +€634 | +6.6% |
| Taxes | 450/3 | €9,632 | €10,266 | +€634 | +6.6% |
| Other amounts payable | 47/48 | €76,674 | €65,920 | -€10,754 | -14.0% |
| Accrued charges and deferred income | 492/3 | €530 | - | -€530 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,596 | €44,643 | +€5,047 | +12.7% |
| Other operating charges | 640/8 | €3,370 | €3,647 | +€277 | +8.2% |
| Gross operating margin | 9900 | €137,175 | €133,080 | -€4,095 | -3.0% |
| Operating profit (loss) | 9901 | €94,210 | €84,790 | -€9,420 | -10.0% |
| Financial income | 75/76B | €0 | €1 | +€1 | +669% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +669% |
| Financial charges | 65/66B | €21,879 | €19,368 | -€2,511 | -11.5% |
| Recurring financial charges | 65 | €21,879 | €19,368 | -€2,511 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €72,331 | €65,423 | -€6,908 | -9.6% |
| Income taxes | 67/77 | €18,544 | €8,492 | -€10,052 | -54.2% |
| Profit (loss) for the period | 9904 | €53,787 | €56,931 | +€3,143 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,787 | €56,931 | +€3,143 | +5.8% |
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 26 October 2026 via checked.be.