MIEU: what changed
MIEU
Largest movements
- Stocks and contracts -€69,574
down €69,574 (-66.4%), from €104,824 to €35,250
- Receivables within one year +€27,275
new in 2023: €27,275
of which Trade receivables: +€26,349
- Cash -€5,490
down €5,490 (-47.1%), from €11,646 to €6,156
mainly Net result for the year (-€51,391) and Receivables within one year (-€27,275)
- Tangible fixed assets +€3,440
up €3,440 (+12.9%), from €26,696 to €30,136
of which Assets under construction and advance payments: +€4,229
- Intangible fixed assets -€3,287
down €3,287 (-51.8%), from €6,346 to €3,059
- Profit (loss) carried forward -€51,391
down €51,391 (-240%), from -€21,381 to -€72,771
- Other debts -€24,040
down €24,040 (-37.8%), from €63,519 to €39,480
- Debts after one year +€19,650
up €19,650 (+98.3%), from €19,993 to €39,643
- Advances received +€12,865
new in 2023: €12,865
- Trade debts -€5,527
down €5,527 (-21.8%), from €25,367 to €19,840
- Gross operating margin -€61,687
down €61,687 (-75.9%), from €81,252 to €19,565
- Financial charges -€3,924
down €3,924 (-42.1%), from €9,321 to €5,397
- Staff costs -€1,481
down €1,481 (-2.7%), from €55,257 to €53,776
Change in the result, 2022 to 2023
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2022 and 2023 balance sheets and the 2023 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €150,309 | €103,068 | -€47,242 | -31.4% |
| Fixed assets | 21/28 | €33,839 | €34,387 | +€548 | +1.6% |
| Intangible fixed assets | 21 | €6,346 | €3,059 | -€3,287 | -51.8% |
| Tangible fixed assets | 22/27 | €26,696 | €30,136 | +€3,440 | +12.9% |
| Furniture and vehicles | 24 | - | €1,115 | +€1,115 | |
| Other tangible fixed assets | 26 | €11,746 | €9,841 | -€1,905 | -16.2% |
| Assets under construction and advance payments | 27 | €14,951 | €19,180 | +€4,229 | +28.3% |
| Financial fixed assets | 28 | €796 | €1,192 | +€396 | +49.7% |
| Current assets | 29/58 | €116,470 | €68,681 | -€47,790 | -41.0% |
| Stocks and contracts in progress | 3 | €104,824 | €35,250 | -€69,574 | -66.4% |
| Stocks | 30/36 | €104,824 | €35,250 | -€69,574 | -66.4% |
| Amounts receivable within one year | 40/41 | - | €27,275 | +€27,275 | |
| Trade receivables | 40 | - | €26,349 | +€26,349 | |
| Other amounts receivable | 41 | - | €925 | +€925 | |
| Cash at bank and in hand | 54/58 | €11,646 | €6,156 | -€5,490 | -47.1% |
| Total equity and liabilities | 10/49 | €150,309 | €103,068 | -€47,242 | -31.4% |
| Equity | 10/15 | -€6,464 | -€57,855 | -€51,391 | -795% |
| Contributions | 10/11 | €14,916 | €14,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,381 | -€72,771 | -€51,391 | -240% |
| Amounts payable | 17/49 | €156,774 | €160,923 | +€4,149 | +2.6% |
| Amounts payable after more than one year | 17 | €19,993 | €39,643 | +€19,650 | +98.3% |
| Financial debts | 170/4 | €19,993 | €39,643 | +€19,650 | +98.3% |
| Amounts payable within one year | 42/48 | €136,780 | €121,279 | -€15,501 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €12,198 | €13,339 | +€1,141 | +9.4% |
| Trade debts | 44 | €25,367 | €19,840 | -€5,527 | -21.8% |
| Suppliers | 440/4 | €25,367 | €19,840 | -€5,527 | -21.8% |
| Advances received on contracts in progress | 46 | - | €12,865 | +€12,865 | |
| Taxes, remuneration and social security | 45 | €35,695 | €35,755 | +€59 | +0.2% |
| Taxes | 450/3 | €25,639 | €23,381 | -€2,258 | -8.8% |
| Remuneration and social security | 454/9 | €10,056 | €12,373 | +€2,318 | +23.0% |
| Other amounts payable | 47/48 | €63,519 | €39,480 | -€24,040 | -37.8% |
| Remuneration, social security and pensions | 62 | €55,257 | €53,776 | -€1,481 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,175 | €11,703 | +€528 | +4.7% |
| Other operating charges | 640/8 | €686 | €418 | -€267 | -39.0% |
| Gross operating margin | 9900 | €81,252 | €19,565 | -€61,687 | -75.9% |
| Operating profit (loss) | 9901 | €14,134 | -€46,332 | -€60,466 | |
| Financial income | 75/76B | €125 | €474 | +€348 | +278% |
| Recurring financial income | 75 | €125 | €474 | +€348 | +278% |
| Financial charges | 65/66B | €9,321 | €5,397 | -€3,924 | -42.1% |
| Recurring financial charges | 65 | €9,321 | €5,397 | -€3,924 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €4,938 | -€51,256 | -€56,194 | |
| Income taxes | 67/77 | €126 | €135 | +€9 | +7.0% |
| Profit (loss) for the period | 9904 | €4,812 | -€51,391 | -€56,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,812 | -€51,391 | -€56,203 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.