MIVESA: 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.
MIVESA
Largest movements
- Cash -€8,379
down €8,379 (-30.7%), from €27,267 to €18,888
mainly Net result for the year (-€22,649) and Deferred charges and accrued income (-€539)
- Receivables within one year -€7,748
down €7,748 (-6.0%), from €128,632 to €120,884
of which Trade receivables: -€7,560
- Tangible fixed assets -€7,172
down €7,172 (-44.6%), from €16,072 to €8,900
of which Other tangible fixed assets: -€6,189
- Profit (loss) carried forward -€22,649
down €22,649 (-16.9%), from €134,258 to €111,609
- Gross operating margin -€7,781
down €7,781, from €7,516 to -€265
- Other operating charges +€3,076
up €3,076 (+25.8%), from €11,923 to €14,999
- Depreciation -€831
down €831 (-10.4%), from €8,003 to €7,172
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 | €172,071 | €149,311 | -€22,760 | -13.2% |
| Fixed assets | 21/28 | €16,172 | €9,000 | -€7,172 | -44.3% |
| Tangible fixed assets | 22/27 | €16,072 | €8,900 | -€7,172 | -44.6% |
| Land and buildings | 22 | €2,793 | €2,253 | -€540 | -19.3% |
| Plant, machinery and equipment | 23 | €707 | €264 | -€443 | -62.7% |
| Other tangible fixed assets | 26 | €12,572 | €6,383 | -€6,189 | -49.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €155,899 | €140,311 | -€15,588 | -10.0% |
| Amounts receivable within one year | 40/41 | €128,632 | €120,884 | -€7,748 | -6.0% |
| Trade receivables | 40 | €7,560 | - | -€7,560 | |
| Other amounts receivable | 41 | €121,072 | €120,884 | -€188 | -0.2% |
| Cash at bank and in hand | 54/58 | €27,267 | €18,888 | -€8,379 | -30.7% |
| Deferred charges and accrued income | 490/1 | - | €539 | +€539 | |
| Total equity and liabilities | 10/49 | €172,071 | €149,311 | -€22,760 | -13.2% |
| Equity | 10/15 | €161,526 | €138,877 | -€22,649 | -14.0% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,258 | €111,609 | -€22,649 | -16.9% |
| Amounts payable | 17/49 | €10,545 | €10,434 | -€111 | -1.1% |
| Amounts payable within one year | 42/48 | €10,545 | €10,434 | -€111 | -1.1% |
| Trade debts | 44 | €2,473 | €2,362 | -€111 | -4.5% |
| Suppliers | 440/4 | €2,473 | €2,362 | -€111 | -4.5% |
| Other amounts payable | 47/48 | €8,072 | €8,072 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,003 | €7,172 | -€831 | -10.4% |
| Other operating charges | 640/8 | €11,923 | €14,999 | +€3,076 | +25.8% |
| Gross operating margin | 9900 | €7,516 | -€265 | -€7,781 | |
| Operating profit (loss) | 9901 | -€12,410 | -€22,436 | -€10,026 | -80.8% |
| Financial income | 75/76B | €156 | €162 | +€6 | +3.8% |
| Recurring financial income | 75 | €156 | €162 | +€6 | +3.8% |
| Financial charges | 65/66B | €373 | €375 | +€2 | +0.5% |
| Recurring financial charges | 65 | €373 | €375 | +€2 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,627 | -€22,649 | -€10,022 | -79.4% |
| Profit (loss) for the period | 9904 | -€12,627 | -€22,649 | -€10,022 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,627 | -€22,649 | -€10,022 | -79.4% |
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 1 October 2026 via checked.be.