Mizar UMa: 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 UMa
Largest movements
- Receivables within one year +€293,466
up €293,466 (+596%), from €49,255 to €342,721
of which Trade receivables: +€288,750
- Reserves +€859,103
up €859,103 (+26.1%), from €3.3m to €4.1m
- Debts after one year -€532,744
down €532,744 (-32.9%), from €1.6m to €1.1m
of which Financial debts: -€1.6m
- Financial income -€262,500
down €262,500 (-24.0%), from €1.1m to €831,250
- Gross operating margin -€72,861
down €72,861 (-41.1%), from €177,284 to €104,423
- Financial charges -€65,003
down €65,003 (-49.6%), from €131,146 to €66,142
- Taxes +€5,455
up €5,455 (+142%), from €3,829 to €9,284
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 | €4,998,028 | €5,313,534 | +€315,506 | +6.3% |
| Fixed assets | 21/28 | €4,833,069 | €4,833,069 | = | 0.0% |
| Financial fixed assets | 28 | €4,833,069 | €4,833,069 | = | 0.0% |
| Current assets | 29/58 | €164,959 | €480,465 | +€315,506 | +191% |
| Amounts receivable within one year | 40/41 | €49,255 | €342,721 | +€293,466 | +596% |
| Trade receivables | 40 | €47,380 | €336,130 | +€288,750 | +609% |
| Other amounts receivable | 41 | €1,875 | €6,591 | +€4,716 | +251% |
| Cash at bank and in hand | 54/58 | €115,704 | €115,622 | -€82 | -0.1% |
| Deferred charges and accrued income | 490/1 | - | €22,122 | +€22,122 | |
| Total equity and liabilities | 10/49 | €4,998,028 | €5,313,534 | +€315,506 | +6.3% |
| Equity | 10/15 | €3,340,479 | €4,199,582 | +€859,103 | +25.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €3,290,479 | €4,149,582 | +€859,103 | +26.1% |
| Distributable reserves | 133 | €3,290,479 | €4,149,582 | +€859,103 | +26.1% |
| Amounts payable | 17/49 | €1,657,549 | €1,113,952 | -€543,597 | -32.8% |
| Amounts payable after more than one year | 17 | €1,621,247 | €1,088,503 | -€532,744 | -32.9% |
| Financial debts | 170/4 | €1,621,247 | - | -€1.6m | |
| Other amounts payable | 178/9 | - | €1,088,503 | +€1.1m | |
| Amounts payable within one year | 42/48 | €36,302 | €25,449 | -€10,853 | -29.9% |
| Trade debts | 44 | €0 | €9,865 | +€9,865 | |
| Suppliers | 440/4 | €0 | €9,865 | +€9,865 | |
| Taxes, remuneration and social security | 45 | €34,512 | €15,584 | -€18,929 | -54.8% |
| Taxes | 450/3 | €34,512 | €15,584 | -€18,929 | -54.8% |
| Other amounts payable | 47/48 | €1,790 | €0 | -€1,790 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,086 | €1,143 | +€57 | +5.3% |
| Gross operating margin | 9900 | €177,284 | €104,423 | -€72,861 | -41.1% |
| Operating profit (loss) | 9901 | €176,198 | €103,280 | -€72,918 | -41.4% |
| Financial income | 75/76B | €1,093,750 | €831,250 | -€262,500 | -24.0% |
| Recurring financial income | 75 | €1,093,750 | €831,250 | -€262,500 | -24.0% |
| Financial charges | 65/66B | €131,146 | €66,142 | -€65,003 | -49.6% |
| Recurring financial charges | 65 | €131,146 | €66,142 | -€65,003 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €1,138,803 | €868,388 | -€270,415 | -23.7% |
| Income taxes | 67/77 | €3,829 | €9,284 | +€5,455 | +142% |
| Profit (loss) for the period | 9904 | €1,134,973 | €859,103 | -€275,870 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,134,973 | €859,103 | -€275,870 | -24.3% |
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 30 October 2026 via checked.be.