S.D. MISECA: 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.
S.D. MISECA
Largest movements
- Receivables within one year +€8,563
up €8,563 (+29.4%), from €29,170 to €37,733
of which Trade receivables: +€7,673
- Reserves +€14,000
up €14,000 (+100.0%), from €14,000 to €28,000
- Trade debts -€4,908
down €4,908 (-36.0%), from €13,645 to €8,737
- Debts after one year -€4,833
down €4,833 (-31.9%), from €15,150 to €10,317
- Tax, wage and social debts +€3,907
up €3,907 (+29.3%), from €13,325 to €17,232
of which Remuneration and social security: +€2,489
- Gross operating margin +€10,832
up €10,832 (+44.5%), from €24,326 to €35,159
- Taxes +€2,133
up €2,133 (+34.9%), from €6,107 to €8,240
- Staff costs +€1,525
up €1,525 (+23.7%), from €6,428 to €7,954
- Financial charges +€622
up €622 (+53.0%), from €1,174 to €1,797
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 | €67,232 | €75,787 | +€8,555 | +12.7% |
| Fixed assets | 21/28 | €2,660 | €2,729 | +€68 | +2.6% |
| Tangible fixed assets | 22/27 | €2,510 | €2,579 | +€68 | +2.7% |
| Plant, machinery and equipment | 23 | €2,510 | €1,815 | -€696 | -27.7% |
| Furniture and vehicles | 24 | - | €764 | +€764 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €64,571 | €73,058 | +€8,487 | +13.1% |
| Stocks and contracts in progress | 3 | €7,562 | €7,110 | -€453 | -6.0% |
| Stocks | 30/36 | €7,562 | €7,110 | -€453 | -6.0% |
| Amounts receivable within one year | 40/41 | €29,170 | €37,733 | +€8,563 | +29.4% |
| Trade receivables | 40 | - | €7,673 | +€7,673 | |
| Other amounts receivable | 41 | €29,170 | €30,061 | +€890 | +3.1% |
| Current investments | 50/53 | €4,990 | €4,990 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20,643 | €20,639 | -€4 | 0.0% |
| Deferred charges and accrued income | 490/1 | €2,206 | €2,586 | +€381 | +17.3% |
| Total equity and liabilities | 10/49 | €67,232 | €75,787 | +€8,555 | +12.7% |
| Equity | 10/15 | €20,621 | €34,668 | +€14,047 | +68.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €14,000 | €28,000 | +€14,000 | +100.0% |
| Distributable reserves | 133 | €14,000 | €28,000 | +€14,000 | +100.0% |
| Profit (loss) carried forward | 14 | -€13,379 | -€13,332 | +€47 | +0.3% |
| Amounts payable | 17/49 | €46,610 | €41,119 | -€5,491 | -11.8% |
| Amounts payable after more than one year | 17 | €15,150 | €10,317 | -€4,833 | -31.9% |
| Financial debts | 170/4 | €15,150 | €10,317 | -€4,833 | -31.9% |
| Amounts payable within one year | 42/48 | €31,460 | €30,802 | -€658 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €4,491 | €4,833 | +€342 | +7.6% |
| Trade debts | 44 | €13,645 | €8,737 | -€4,908 | -36.0% |
| Suppliers | 440/4 | €13,645 | €8,737 | -€4,908 | -36.0% |
| Taxes, remuneration and social security | 45 | €13,325 | €17,232 | +€3,907 | +29.3% |
| Taxes | 450/3 | €13,143 | €14,561 | +€1,418 | +10.8% |
| Remuneration and social security | 454/9 | €181 | €2,670 | +€2,489 | +1374.7% |
| Non-recurring operating income | 76A | €12,172 | - | -€12,172 | |
| Remuneration, social security and pensions | 62 | €6,428 | €7,954 | +€1,525 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,546 | €1,289 | -€256 | -16.6% |
| Other operating charges | 640/8 | €1,595 | €1,893 | +€297 | +18.6% |
| Non-recurring operating charges | 66A | €901 | €476 | -€425 | -47.2% |
| Gross operating margin | 9900 | €24,326 | €35,159 | +€10,832 | +44.5% |
| Operating profit (loss) | 9901 | €13,856 | €23,548 | +€9,691 | +69.9% |
| Financial income | 75/76B | €392 | €535 | +€144 | +36.8% |
| Recurring financial income | 75 | €392 | €535 | +€144 | +36.8% |
| Financial charges | 65/66B | €1,174 | €1,797 | +€622 | +53.0% |
| Recurring financial charges | 65 | €1,174 | €1,797 | +€622 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | €13,074 | €22,286 | +€9,213 | +70.5% |
| Income taxes | 67/77 | €6,107 | €8,240 | +€2,133 | +34.9% |
| Profit (loss) for the period | 9904 | €6,966 | €14,047 | +€7,080 | +101.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,966 | €14,047 | +€7,080 | +101.6% |
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 10 October 2026 via checked.be.