MIZAR: 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.
MIZAR
Largest movements
- Cash -€48,118
down €48,118 (-42.6%), from €113,060 to €64,942
mainly Tax, wage and social debts (-€68,522) and Contributions, distributions and other (-€45,000)
- Receivables within one year +€18,276
up €18,276 (+112.5%), from €16,244 to €34,520
of which Trade receivables: +€14,520
- Tangible fixed assets +€6,602
new in 2025: €6,602
of which Furniture and vehicles: +€5,795
- Tax, wage and social debts -€68,522
down €68,522 (-70.4%), from €97,343 to €28,821
- Reserves +€48,707
up €48,707 (+14.7%), from €330,393 to €379,100
- Gross operating margin -€154,709
down €154,709 (-57.5%), from €269,112 to €114,403
- Taxes -€37,540
down €37,540 (-60.0%), from €62,521 to €24,981
- Financial income +€5,565
up €5,565 (+1925.6%), from €289 to €5,854
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 | €429,506 | €410,364 | -€19,142 | -4.5% |
| Fixed assets | 21/28 | - | €6,602 | +€6,602 | |
| Tangible fixed assets | 22/27 | - | €6,602 | +€6,602 | |
| Plant, machinery and equipment | 23 | - | €807 | +€807 | |
| Furniture and vehicles | 24 | - | €5,795 | +€5,795 | |
| Current assets | 29/58 | €429,506 | €403,762 | -€25,744 | -6.0% |
| Amounts receivable within one year | 40/41 | €16,244 | €34,520 | +€18,276 | +112.5% |
| Trade receivables | 40 | - | €14,520 | +€14,520 | |
| Other amounts receivable | 41 | €16,244 | €20,000 | +€3,756 | +23.1% |
| Current investments | 50/53 | €300,202 | €304,300 | +€4,098 | +1.4% |
| Cash at bank and in hand | 54/58 | €113,060 | €64,942 | -€48,118 | -42.6% |
| Total equity and liabilities | 10/49 | €429,506 | €410,364 | -€19,142 | -4.5% |
| Equity | 10/15 | €331,393 | €380,100 | +€48,707 | +14.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €330,393 | €379,100 | +€48,707 | +14.7% |
| Distributable reserves | 133 | €330,393 | €379,100 | +€48,707 | +14.7% |
| Amounts payable | 17/49 | €98,113 | €30,264 | -€67,849 | -69.2% |
| Amounts payable within one year | 42/48 | €98,113 | €30,264 | -€67,849 | -69.2% |
| Trade debts | 44 | €738 | €1,411 | +€673 | +91.2% |
| Suppliers | 440/4 | €738 | €1,411 | +€673 | +91.2% |
| Taxes, remuneration and social security | 45 | €97,343 | €28,821 | -€68,522 | -70.4% |
| Taxes | 450/3 | €97,343 | €28,821 | -€68,522 | -70.4% |
| Other amounts payable | 47/48 | €32 | €32 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €995 | +€995 | |
| Other operating charges | 640/8 | €64 | €527 | +€463 | +723.4% |
| Gross operating margin | 9900 | €269,112 | €114,403 | -€154,709 | -57.5% |
| Operating profit (loss) | 9901 | €269,048 | €112,881 | -€156,167 | -58.0% |
| Financial income | 75/76B | €289 | €5,854 | +€5,565 | +1925.6% |
| Recurring financial income | 75 | €289 | €5,854 | +€5,565 | +1925.6% |
| Financial charges | 65/66B | €50 | €47 | -€3 | -6.0% |
| Recurring financial charges | 65 | €50 | €47 | -€3 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €269,287 | €118,688 | -€150,599 | -55.9% |
| Income taxes | 67/77 | €62,521 | €24,981 | -€37,540 | -60.0% |
| Profit (loss) for the period | 9904 | €206,766 | €93,707 | -€113,059 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €206,766 | €93,707 | -€113,059 | -54.7% |
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 10 October 2026 via checked.be.