MI-SO: what changed
What changed
MI-SO
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€5,994
2024 · -€20,010+€26,004
Equity
-€23,156
2024 · -€29,150+€5,994
Cash
€14,019
2024 · €8,181+€5,838
Balance sheet total
€3.7m
2024 · €3.7m-€63,155
Largest movements
Assets
- Tangible fixed assets -€69,280
down €69,280 (-1.9%), from €3.7m to €3.6m
of which Land and buildings: -€86,608
Equity and liabilities
- Debts after one year -€91,034
down €91,034 (-2.7%), from €3.3m to €3.2m
of which Financial debts: -€91,034
Income statement
- Depreciation -€25,867
down €25,867 (-22.7%), from €113,928 to €88,060
- Financial charges -€1,710
down €1,710 (-3.4%), from €50,657 to €48,948
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€20,010
Gross operating margin
-€18
Depreciation
+€25,867
Other operating charges
-€1,555
Financial income
+€0
Financial charges
+€1,710
Result 2025
€5,994
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€114,199
Investment
-€18,780
Financing
-€89,580
Cash 2024
€8,181
From operations (derived)
+€114,199
Net result for the year
+€5,994
Depreciation
+€88,060
Receivables within one year
-€1,314
Deferred charges and accrued income
+€1,027
Trade debts
+€5,121
Tax, wage and social debts
-€837
Other debts
+€16,148
Investment (derived)
-€18,780
Investment in fixed assets (net)
-€18,780
Financing
-€89,580
Debts after one year
-€91,034
Current portion of long-term debt
+€1,454
Cash 2025
€14,019
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,716,628 | €3,653,474 | -€63,155 | -1.7% |
| Fixed assets | 21/28 | €3,702,745 | €3,633,465 | -€69,280 | -1.9% |
| Tangible fixed assets | 22/27 | €3,702,745 | €3,633,465 | -€69,280 | -1.9% |
| Land and buildings | 22 | €3,344,727 | €3,258,119 | -€86,608 | -2.6% |
| Assets under construction and advance payments | 27 | €358,018 | €375,346 | +€17,328 | +4.8% |
| Current assets | 29/58 | €13,883 | €20,009 | +€6,126 | +44.1% |
| Amounts receivable within one year | 40/41 | €2,199 | €3,513 | +€1,314 | +59.8% |
| Trade receivables | 40 | €2,057 | €3,513 | +€1,456 | +70.8% |
| Other amounts receivable | 41 | €142 | €0 | -€142 | -100% |
| Cash at bank and in hand | 54/58 | €8,181 | €14,019 | +€5,838 | +71.4% |
| Deferred charges and accrued income | 490/1 | €3,503 | €2,477 | -€1,027 | -29.3% |
| Total equity and liabilities | 10/49 | €3,716,628 | €3,653,474 | -€63,155 | -1.7% |
| Equity | 10/15 | -€29,150 | -€23,156 | +€5,994 | +20.6% |
| Contributions | 10/11 | €524,160 | €524,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€553,310 | -€547,316 | +€5,994 | +1.1% |
| Amounts payable | 17/49 | €3,745,779 | €3,676,630 | -€69,149 | -1.8% |
| Amounts payable after more than one year | 17 | €3,317,147 | €3,226,113 | -€91,034 | -2.7% |
| Financial debts | 170/4 | €3,314,935 | €3,223,901 | -€91,034 | -2.7% |
| Other amounts payable | 178/9 | €2,212 | €2,212 | = | 0.0% |
| Amounts payable within one year | 42/48 | €428,632 | €450,517 | +€21,885 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €89,580 | €91,034 | +€1,454 | +1.6% |
| Trade debts | 44 | €6,363 | €11,484 | +€5,121 | +80.5% |
| Suppliers | 440/4 | €6,363 | €11,484 | +€5,121 | +80.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,688 | €1,851 | -€837 | -31.1% |
| Taxes | 450/3 | €2,688 | €1,851 | -€837 | -31.1% |
| Other amounts payable | 47/48 | €330,000 | €346,148 | +€16,148 | +4.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,928 | €88,060 | -€25,867 | -22.7% |
| Other operating charges | 640/8 | €20,056 | €21,612 | +€1,555 | +7.8% |
| Gross operating margin | 9900 | €164,631 | €164,614 | -€18 | 0.0% |
| Operating profit (loss) | 9901 | €30,648 | €54,942 | +€24,294 | +79.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €50,657 | €48,948 | -€1,710 | -3.4% |
| Recurring financial charges | 65 | €50,657 | €48,948 | -€1,710 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,010 | €5,994 | +€26,004 | |
| Profit (loss) for the period | 9904 | -€20,010 | €5,994 | +€26,004 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,010 | €5,994 | +€26,004 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.