MIWA CONSULT: 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.
MIWA CONSULT
Largest movements
- Cash -€10,027
down €10,027 (-67.7%), from €14,813 to €4,786
mainly Other debts (-€10,796) and Investment in fixed assets (net) (-€10,543)
- Receivables within one year -€3,571
down €3,571 (-35.4%), from €10,093 to €6,522
of which Trade receivables: -€3,545
- Tangible fixed assets +€3,287
up €3,287 (+2.9%), from €114,034 to €117,322
of which Furniture and vehicles: +€5,852
- Deferred charges and accrued income +€1,479
up €1,479 (+98.5%), from €1,502 to €2,982
- Other debts -€10,796
down €10,796 (-39.3%), from €27,497 to €16,701
- Reserves +€8,494
up €8,494 (+24.4%), from €34,787 to €43,281
- Debts after one year -€7,601
down €7,601 (-17.9%), from €42,538 to €34,937
- Gross operating margin -€7,872
down €7,872 (-24.7%), from €31,853 to €23,981
- Taxes -€2,963
down €2,963 (-33.5%), from €8,858 to €5,895
- Depreciation +€1,615
up €1,615 (+28.6%), from €5,641 to €7,256
- Other operating charges -€426
down €426 (-30.2%), from €1,409 to €983
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 | €142,080 | €133,158 | -€8,922 | -6.3% |
| Fixed assets | 21/28 | €114,034 | €117,322 | +€3,287 | +2.9% |
| Tangible fixed assets | 22/27 | €114,034 | €117,322 | +€3,287 | +2.9% |
| Land and buildings | 22 | €101,515 | €99,598 | -€1,917 | -1.9% |
| Plant, machinery and equipment | 23 | €8,867 | €8,220 | -€647 | -7.3% |
| Furniture and vehicles | 24 | €3,652 | €9,504 | +€5,852 | +160% |
| Current assets | 29/58 | €28,046 | €15,836 | -€12,209 | -43.5% |
| Stocks and contracts in progress | 3 | €1,637 | €1,546 | -€91 | -5.6% |
| Stocks | 30/36 | €1,637 | €1,546 | -€91 | -5.6% |
| Amounts receivable within one year | 40/41 | €10,093 | €6,522 | -€3,571 | -35.4% |
| Trade receivables | 40 | €10,032 | €6,487 | -€3,545 | -35.3% |
| Other amounts receivable | 41 | €61 | €35 | -€26 | -42.9% |
| Cash at bank and in hand | 54/58 | €14,813 | €4,786 | -€10,027 | -67.7% |
| Deferred charges and accrued income | 490/1 | €1,502 | €2,982 | +€1,479 | +98.5% |
| Total equity and liabilities | 10/49 | €142,080 | €133,158 | -€8,922 | -6.3% |
| Equity | 10/15 | €53,387 | €61,881 | +€8,494 | +15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,787 | €43,281 | +€8,494 | +24.4% |
| Distributable reserves | 133 | €34,787 | €43,281 | +€8,494 | +24.4% |
| Amounts payable | 17/49 | €88,693 | €71,277 | -€17,416 | -19.6% |
| Amounts payable after more than one year | 17 | €42,538 | €34,937 | -€7,601 | -17.9% |
| Financial debts | 170/4 | €42,538 | €34,937 | -€7,601 | -17.9% |
| Amounts payable within one year | 42/48 | €46,155 | €36,340 | -€9,815 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €7,435 | €7,601 | +€165 | +2.2% |
| Financial debts | 43 | €645 | €886 | +€241 | +37.4% |
| Credit institutions | 430/8 | €645 | €886 | +€241 | +37.4% |
| Trade debts | 44 | €1,123 | €1,016 | -€106 | -9.5% |
| Suppliers | 440/4 | €1,123 | €1,016 | -€106 | -9.5% |
| Taxes, remuneration and social security | 45 | €9,456 | €10,136 | +€680 | +7.2% |
| Taxes | 450/3 | €9,456 | €10,136 | +€680 | +7.2% |
| Other amounts payable | 47/48 | €27,497 | €16,701 | -€10,796 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,641 | €7,256 | +€1,615 | +28.6% |
| Other operating charges | 640/8 | €1,409 | €983 | -€426 | -30.2% |
| Gross operating margin | 9900 | €31,853 | €23,981 | -€7,872 | -24.7% |
| Operating profit (loss) | 9901 | €24,804 | €15,743 | -€9,061 | -36.5% |
| Financial income | 75/76B | €168 | €37 | -€131 | -78.2% |
| Recurring financial income | 75 | €168 | €37 | -€131 | -78.2% |
| Financial charges | 65/66B | €1,679 | €1,391 | -€288 | -17.1% |
| Recurring financial charges | 65 | €1,679 | €1,391 | -€288 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €23,293 | €14,389 | -€8,905 | -38.2% |
| Income taxes | 67/77 | €8,858 | €5,895 | -€2,963 | -33.5% |
| Profit (loss) for the period | 9904 | €14,435 | €8,494 | -€5,941 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,435 | €8,494 | -€5,941 | -41.2% |
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 14 October 2026 via checked.be.