MZIA: 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.
MZIA
Largest movements
- Stocks and contracts +€10,372
up €10,372 (+5.3%), from €195,265 to €205,637
- Receivables within one year -€2,396
down €2,396 (-78.4%), from €3,057 to €661
of which Trade receivables: -€2,394
- Profit (loss) carried forward +€14,867
up €14,867 (+54.3%), from €27,367 to €42,234
- Other debts -€3,489
down €3,489 (-14.8%), from €23,599 to €20,110
- Tax, wage and social debts -€2,225
down €2,225 (-21.7%), from €10,236 to €8,011
- Gross operating margin +€9,225
up €9,225 (+76.2%), from €12,109 to €21,334
- Taxes +€2,805
up €2,805 (+179%), from €1,564 to €4,370
- Financial income -€525
down €525 (-98.3%), from €534 to €9
- Financial charges +€315
up €315 (+58.0%), from €543 to €859
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 | €211,377 | €220,368 | +€8,991 | +4.3% |
| Fixed assets | 21/28 | €1,477 | €750 | -€727 | -49.2% |
| Intangible fixed assets | 21 | €835 | €576 | -€259 | -31.1% |
| Tangible fixed assets | 22/27 | €642 | €174 | -€468 | -72.9% |
| Plant, machinery and equipment | 23 | €642 | €174 | -€468 | -72.9% |
| Current assets | 29/58 | €209,900 | €219,618 | +€9,719 | +4.6% |
| Stocks and contracts in progress | 3 | €195,265 | €205,637 | +€10,372 | +5.3% |
| Stocks | 30/36 | €195,265 | €205,637 | +€10,372 | +5.3% |
| Amounts receivable within one year | 40/41 | €3,057 | €661 | -€2,396 | -78.4% |
| Trade receivables | 40 | €3,044 | €650 | -€2,394 | -78.6% |
| Other amounts receivable | 41 | €13 | €11 | -€2 | -16.5% |
| Cash at bank and in hand | 54/58 | €11,578 | €13,321 | +€1,743 | +15.1% |
| Total equity and liabilities | 10/49 | €211,377 | €220,368 | +€8,991 | +4.3% |
| Equity | 10/15 | €169,806 | €184,673 | +€14,867 | +8.8% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €55,676 | €55,676 | = | 0.0% |
| Distributable reserves | 133 | €55,676 | €55,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,367 | €42,234 | +€14,867 | +54.3% |
| Amounts payable | 17/49 | €41,571 | €35,695 | -€5,876 | -14.1% |
| Amounts payable within one year | 42/48 | €41,571 | €35,695 | -€5,876 | -14.1% |
| Trade debts | 44 | €7,736 | €7,575 | -€161 | -2.1% |
| Suppliers | 440/4 | €7,736 | €7,575 | -€161 | -2.1% |
| Taxes, remuneration and social security | 45 | €10,236 | €8,011 | -€2,225 | -21.7% |
| Taxes | 450/3 | €10,236 | €8,011 | -€2,225 | -21.7% |
| Other amounts payable | 47/48 | €23,599 | €20,110 | -€3,489 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €727 | €727 | = | 0.0% |
| Other operating charges | 640/8 | €569 | €520 | -€49 | -8.7% |
| Gross operating margin | 9900 | €12,109 | €21,334 | +€9,225 | +76.2% |
| Operating profit (loss) | 9901 | €10,812 | €20,087 | +€9,274 | +85.8% |
| Financial income | 75/76B | €534 | €9 | -€525 | -98.3% |
| Recurring financial income | 75 | €534 | €9 | -€525 | -98.3% |
| Financial charges | 65/66B | €543 | €859 | +€315 | +58.0% |
| Recurring financial charges | 65 | €543 | €859 | +€315 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €10,803 | €19,237 | +€8,434 | +78.1% |
| Income taxes | 67/77 | €1,564 | €4,370 | +€2,805 | +179% |
| Profit (loss) for the period | 9904 | €9,238 | €14,867 | +€5,629 | +60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,238 | €14,867 | +€5,629 | +60.9% |
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 17 October 2026 via checked.be.