MIVES: 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.
MIVES
Largest movements
- Receivables within one year -€23,049
down €23,049 (-42.8%), from €53,908 to €30,859
of which Other amounts receivable: -€19,327
- Cash +€3,921
up €3,921 (+4.5%), from €86,610 to €90,531
- Tangible fixed assets -€2,255
no longer reported in 2025 (was €2,255)
of which Plant, machinery and equipment: -€1,616
- Tax, wage and social debts -€25,360
down €25,360 (-64.8%), from €39,111 to €13,750
of which Taxes: -€22,751
- Reserves +€13,500
up €13,500 (+21.6%), from €62,559 to €76,059
of which Distributable reserves: +€13,500
- Other debts -€12,000
no longer reported in 2025 (was €12,000)
- Trade debts +€2,783
new in 2025: €2,783
- Gross operating margin -€66,852
down €66,852 (-78.8%), from €84,872 to €18,020
- Staff costs -€24,013
down €24,013 (-77.7%), from €30,905 to €6,892
- Taxes -€8,466
down €8,466 (-73.8%), from €11,470 to €3,004
- Depreciation -€2,297
down €2,297 (-89.8%), from €2,557 to €260
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,073 | €122,088 | -€20,986 | -14.7% |
| Fixed assets | 21/28 | €2,555 | €300 | -€2,255 | -88.3% |
| Tangible fixed assets | 22/27 | €2,255 | - | -€2,255 | |
| Plant, machinery and equipment | 23 | €1,616 | - | -€1,616 | |
| Furniture and vehicles | 24 | €640 | - | -€640 | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €140,518 | €121,788 | -€18,730 | -13.3% |
| Amounts receivable within one year | 40/41 | €53,908 | €30,859 | -€23,049 | -42.8% |
| Trade receivables | 40 | €34,581 | €30,859 | -€3,722 | -10.8% |
| Other amounts receivable | 41 | €19,327 | - | -€19,327 | |
| Cash at bank and in hand | 54/58 | €86,610 | €90,531 | +€3,921 | +4.5% |
| Deferred charges and accrued income | 490/1 | - | €397 | +€397 | |
| Total equity and liabilities | 10/49 | €143,073 | €122,088 | -€20,986 | -14.7% |
| Equity | 10/15 | €91,963 | €105,554 | +€13,591 | +14.8% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €62,559 | €76,059 | +€13,500 | +21.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €60,700 | €74,200 | +€13,500 | +22.2% |
| Profit (loss) carried forward | 14 | €17,009 | €17,100 | +€91 | +0.5% |
| Amounts payable | 17/49 | €51,111 | €16,533 | -€34,577 | -67.7% |
| Amounts payable within one year | 42/48 | €51,111 | €16,533 | -€34,577 | -67.7% |
| Trade debts | 44 | - | €2,783 | +€2,783 | |
| Suppliers | 440/4 | - | €2,783 | +€2,783 | |
| Taxes, remuneration and social security | 45 | €39,111 | €13,750 | -€25,360 | -64.8% |
| Taxes | 450/3 | €35,280 | €12,530 | -€22,751 | -64.5% |
| Remuneration and social security | 454/9 | €3,830 | €1,221 | -€2,610 | -68.1% |
| Other amounts payable | 47/48 | €12,000 | - | -€12,000 | |
| Remuneration, social security and pensions | 62 | €30,905 | €6,892 | -€24,013 | -77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,557 | €260 | -€2,297 | -89.8% |
| Other operating charges | 640/8 | €1,076 | €1,881 | +€805 | +74.8% |
| Gross operating margin | 9900 | €84,872 | €18,020 | -€66,852 | -78.8% |
| Operating profit (loss) | 9901 | €50,334 | €8,987 | -€41,347 | -82.1% |
| Financial income | 75/76B | €19 | €5 | -€14 | -75.4% |
| Recurring financial income | 75 | €19 | €5 | -€14 | -75.4% |
| Financial charges | 65/66B | €181 | €406 | +€225 | +124.5% |
| Recurring financial charges | 65 | €181 | €406 | +€225 | +124.5% |
| Profit (loss) for the period before taxes | 9903 | €50,172 | €8,586 | -€41,586 | -82.9% |
| Income taxes | 67/77 | €11,470 | €3,004 | -€8,466 | -73.8% |
| Profit (loss) for the period | 9904 | €38,702 | €5,582 | -€33,121 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,702 | €5,582 | -€33,121 | -85.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.