MIVECO INVEST: what changed
What changed
MIVECO INVEST
filed annual accounts (NBB)
Net result for the year
€10,740
2024 · €6,623+€4,117
Equity
€83,080
2024 · €72,339+€10,740
Cash
€1,729
2024 · €2,959-€1,230
Balance sheet total
€315,536
2024 · €332,727-€17,191
Largest movements
Assets
- Tangible fixed assets -€15,962
down €15,962 (-4.8%), from €329,768 to €313,806
Equity and liabilities
- Debts after one year -€24,596
down €24,596 (-11.4%), from €215,589 to €190,993
- Profit (loss) carried forward +€10,740
up €10,740 (+70.6%), from €15,223 to €25,963
- Trade debts -€5,793
down €5,793 (-99.6%), from €5,818 to €25
Income statement
- Gross operating margin +€4,685
up €4,685 (+14.6%), from €32,194 to €36,880
- Taxes +€1,429
up €1,429 (+57.6%), from €2,481 to €3,910
- Financial charges -€1,044
down €1,044 (-22.2%), from €4,695 to €3,651
of which Financial charges: -€622
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€6,623
Gross operating margin
+€4,685
Depreciation
-€104
Other operating charges
-€80
Financial charges
+€1,044
Taxes
-€1,429
Result 2025
€10,740
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€21,394
Investment
€0
Financing
-€22,624
Cash 2024
€2,959
From operations (derived)
+€21,394
Net result for the year
+€10,740
Depreciation
+€15,962
Trade debts
-€5,793
Tax, wage and social debts
+€1,629
Other debts
+€1,373
Accrued charges and deferred income
-€2,516
Financing
-€22,624
Debts after one year
-€24,596
Current portion of long-term debt
+€1,972
Cash 2025
€1,729
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €332,727 | €315,536 | -€17,191 | -5.2% |
| Fixed assets | 21/28 | €329,768 | €313,806 | -€15,962 | -4.8% |
| Tangible fixed assets | 22/27 | €329,768 | €313,806 | -€15,962 | -4.8% |
| Land and buildings | 22 | €329,768 | €313,806 | -€15,962 | -4.8% |
| Current assets | 29/58 | €2,959 | €1,729 | -€1,230 | -41.6% |
| Cash at bank and in hand | 54/58 | €2,959 | €1,729 | -€1,230 | -41.6% |
| Total equity and liabilities | 10/49 | €332,727 | €315,536 | -€17,191 | -5.2% |
| Equity | 10/15 | €72,339 | €83,080 | +€10,740 | +14.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €7,117 | €7,117 | = | 0.0% |
| Distributable reserves | 133 | €7,117 | €7,117 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,223 | €25,963 | +€10,740 | +70.6% |
| Amounts payable | 17/49 | €260,388 | €232,456 | -€27,932 | -10.7% |
| Amounts payable after more than one year | 17 | €215,589 | €190,993 | -€24,596 | -11.4% |
| Financial debts | 170/4 | €215,589 | €190,993 | -€24,596 | -11.4% |
| Amounts payable within one year | 42/48 | €40,109 | €39,290 | -€819 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €24,270 | €26,242 | +€1,972 | +8.1% |
| Trade debts | 44 | €5,818 | €25 | -€5,793 | -99.6% |
| Suppliers | 440/4 | €5,818 | €25 | -€5,793 | -99.6% |
| Taxes, remuneration and social security | 45 | €4,882 | €6,511 | +€1,629 | +33.4% |
| Taxes | 450/3 | €4,882 | €6,511 | +€1,629 | +33.4% |
| Other amounts payable | 47/48 | €5,138 | €6,512 | +€1,373 | +26.7% |
| Accrued charges and deferred income | 492/3 | €4,690 | €2,174 | -€2,516 | -53.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,858 | €15,962 | +€104 | +0.7% |
| Other operating charges | 640/8 | €2,537 | €2,617 | +€80 | +3.2% |
| Gross operating margin | 9900 | €32,194 | €36,880 | +€4,685 | +14.6% |
| Operating profit (loss) | 9901 | €13,800 | €18,301 | +€4,501 | +32.6% |
| Financial charges | 65/66B | €4,695 | €3,651 | -€1,044 | -22.2% |
| Recurring financial charges | 65 | €4,273 | €3,651 | -€622 | -14.5% |
| Non-recurring financial charges | 66B | €423 | - | -€423 | |
| Profit (loss) for the period before taxes | 9903 | €9,104 | €14,650 | +€5,546 | +60.9% |
| Income taxes | 67/77 | €2,481 | €3,910 | +€1,429 | +57.6% |
| Profit (loss) for the period | 9904 | €6,623 | €10,740 | +€4,117 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,623 | €10,740 | +€4,117 | +62.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.