MIVERMALA: what changed
Two fiscal 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.
MIVERMALA
Largest movements
- Tangible fixed assets -€14,592
down €14,592 (-33.3%), from €43,775 to €29,184
- Debts after one year -€14,917
down €14,917 (-51.2%), from €29,116 to €14,199
- Profit (loss) carried forward -€13,224
down €13,224, from €7,239 to -€5,985
- Trade debts +€8,111
up €8,111 (+73.9%), from €10,975 to €19,086
- Contributions +€6,110
up €6,110 (+12.5%), from €48,700 to €54,810
- Reserves -€6,110
down €6,110 (-28.9%), from €21,110 to €15,000
of which Non-distributable reserves: -€6,110
- Gross operating margin -€14,208
down €14,208 (-73.7%), from €19,285 to €5,077
- Other operating charges -€980
down €980 (-71.0%), from €1,380 to €400
- Taxes +€973
up €973 (+187.4%), from €519 to €1,493
- Financial charges -€755
down €755 (-27.9%), from €2,710 to €1,955
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 | €490,173 | €474,596 | -€15,578 | -3.2% |
| Fixed assets | 21/28 | €486,275 | €471,684 | -€14,592 | -3.0% |
| Tangible fixed assets | 22/27 | €43,775 | €29,184 | -€14,592 | -33.3% |
| Furniture and vehicles | 24 | €43,775 | €29,184 | -€14,592 | -33.3% |
| Financial fixed assets | 28 | €442,500 | €442,500 | = | 0.0% |
| Current assets | 29/58 | €3,898 | €2,912 | -€986 | -25.3% |
| Amounts receivable within one year | 40/41 | €2,420 | €2,820 | +€400 | +16.5% |
| Trade receivables | 40 | €2,420 | €2,820 | +€400 | +16.5% |
| Cash at bank and in hand | 54/58 | €1,478 | €92 | -€1,386 | -93.8% |
| Total equity and liabilities | 10/49 | €490,173 | €474,596 | -€15,578 | -3.2% |
| Equity | 10/15 | €77,049 | €63,825 | -€13,224 | -17.2% |
| Contributions | 10/11 | €48,700 | €54,810 | +€6,110 | +12.5% |
| Capital | 10 | €48,700 | - | -€48,700 | |
| Issued capital | 100 | €61,100 | - | -€61,100 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €21,110 | €15,000 | -€6,110 | -28.9% |
| Non-distributable reserves | 130/1 | €6,110 | - | -€6,110 | |
| Legal reserve | 130 | €6,110 | - | -€6,110 | |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,239 | -€5,985 | -€13,224 | |
| Amounts payable | 17/49 | €413,124 | €410,770 | -€2,354 | -0.6% |
| Amounts payable after more than one year | 17 | €29,116 | €14,199 | -€14,917 | -51.2% |
| Financial debts | 170/4 | €29,116 | €14,199 | -€14,917 | -51.2% |
| Amounts payable within one year | 42/48 | €384,009 | €396,571 | +€12,563 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €14,340 | €16,233 | +€1,893 | +13.2% |
| Trade debts | 44 | €10,975 | €19,086 | +€8,111 | +73.9% |
| Suppliers | 440/4 | €10,975 | €19,086 | +€8,111 | +73.9% |
| Taxes, remuneration and social security | 45 | €1,122 | €2,025 | +€903 | +80.5% |
| Taxes | 450/3 | €1,122 | €2,025 | +€903 | +80.5% |
| Other amounts payable | 47/48 | €357,572 | €359,228 | +€1,656 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,592 | €14,592 | = | 0.0% |
| Other operating charges | 640/8 | €1,380 | €400 | -€980 | -71.0% |
| Gross operating margin | 9900 | €19,285 | €5,077 | -€14,208 | -73.7% |
| Operating profit (loss) | 9901 | €3,314 | -€9,914 | -€13,228 | |
| Financial income | 75/76B | €276 | €138 | -€138 | -50.0% |
| Recurring financial income | 75 | €276 | €138 | -€138 | -50.0% |
| Financial charges | 65/66B | €2,710 | €1,955 | -€755 | -27.9% |
| Recurring financial charges | 65 | €2,710 | €1,955 | -€755 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €880 | -€11,731 | -€12,611 | |
| Income taxes | 67/77 | €519 | €1,493 | +€973 | +187.4% |
| Profit (loss) for the period | 9904 | €361 | -€13,224 | -€13,584 | |
| Profit (loss) for the period to be appropriated | 9905 | €361 | -€13,224 | -€13,584 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.