MIVRA: 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.
MIVRA
Largest movements
- Cash +€28,984
up €28,984 (+108%), from €26,952 to €55,937
mainly Net result for the year (+€58,232) and Receivables within one year (+€9,567)
- Receivables within one year -€9,567
down €9,567 (-30.1%), from €31,819 to €22,252
of which Trade receivables: -€16,746
- Tangible fixed assets -€9,323
down €9,323 (-70.4%), from €13,243 to €3,921
of which Leasing and similar rights: -€8,091
- Reserves +€58,232
up €58,232 (+55.1%), from €105,609 to €163,841
- Debts after one year -€57,873
down €57,873 (-8.7%), from €661,708 to €603,834
- Gross operating margin +€11,747
up €11,747 (+12.0%), from €98,073 to €109,820
- Taxes +€3,874
up €3,874 (+22.0%), from €17,641 to €21,515
- Financial charges -€2,599
down €2,599 (-11.5%), from €22,539 to €19,940
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 | €843,146 | €852,637 | +€9,490 | +1.1% |
| Fixed assets | 21/28 | €782,243 | €772,921 | -€9,323 | -1.2% |
| Tangible fixed assets | 22/27 | €13,243 | €3,921 | -€9,323 | -70.4% |
| Plant, machinery and equipment | 23 | €1,995 | €1,356 | -€639 | -32.0% |
| Furniture and vehicles | 24 | €1,077 | €485 | -€592 | -55.0% |
| Leasing and similar rights | 25 | €10,171 | €2,080 | -€8,091 | -79.5% |
| Financial fixed assets | 28 | €769,000 | €769,000 | = | 0.0% |
| Current assets | 29/58 | €60,903 | €79,716 | +€18,813 | +30.9% |
| Amounts receivable within one year | 40/41 | €31,819 | €22,252 | -€9,567 | -30.1% |
| Trade receivables | 40 | €18,150 | €1,404 | -€16,746 | -92.3% |
| Other amounts receivable | 41 | €13,669 | €20,848 | +€7,180 | +52.5% |
| Cash at bank and in hand | 54/58 | €26,952 | €55,937 | +€28,984 | +108% |
| Deferred charges and accrued income | 490/1 | €2,132 | €1,527 | -€605 | -28.4% |
| Total equity and liabilities | 10/49 | €843,146 | €852,637 | +€9,490 | +1.1% |
| Equity | 10/15 | €107,609 | €165,841 | +€58,232 | +54.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €105,609 | €163,841 | +€58,232 | +55.1% |
| Distributable reserves | 133 | €105,609 | €163,841 | +€58,232 | +55.1% |
| Amounts payable | 17/49 | €735,537 | €686,795 | -€48,742 | -6.6% |
| Amounts payable after more than one year | 17 | €661,708 | €603,834 | -€57,873 | -8.7% |
| Financial debts | 170/4 | €661,708 | €603,834 | -€57,873 | -8.7% |
| Amounts payable within one year | 42/48 | €73,171 | €82,658 | +€9,487 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €66,806 | €68,429 | +€1,623 | +2.4% |
| Trade debts | 44 | €1,347 | €2,690 | +€1,343 | +99.7% |
| Suppliers | 440/4 | €1,347 | €2,690 | +€1,343 | +99.7% |
| Taxes, remuneration and social security | 45 | €5,018 | €11,539 | +€6,521 | +130% |
| Taxes | 450/3 | €2,822 | €9,395 | +€6,573 | +233% |
| Remuneration and social security | 454/9 | €2,195 | €2,143 | -€52 | -2.4% |
| Accrued charges and deferred income | 492/3 | €658 | €303 | -€355 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,707 | €9,323 | +€616 | +7.1% |
| Other operating charges | 640/8 | €890 | €812 | -€78 | -8.8% |
| Gross operating margin | 9900 | €98,073 | €109,820 | +€11,747 | +12.0% |
| Operating profit (loss) | 9901 | €88,476 | €99,686 | +€11,210 | +12.7% |
| Financial income | 75/76B | €397 | €1 | -€396 | -99.7% |
| Recurring financial income | 75 | €397 | €1 | -€396 | -99.7% |
| Financial charges | 65/66B | €22,539 | €19,940 | -€2,599 | -11.5% |
| Recurring financial charges | 65 | €22,539 | €19,940 | -€2,599 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €66,334 | €79,747 | +€13,413 | +20.2% |
| Income taxes | 67/77 | €17,641 | €21,515 | +€3,874 | +22.0% |
| Profit (loss) for the period | 9904 | €48,693 | €58,232 | +€9,539 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,693 | €58,232 | +€9,539 | +19.6% |
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 16 October 2026 via checked.be.