MIDD39: 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.
MIDD39
Largest movements
- Receivables within one year +€32,531
up €32,531 (+78.7%), from €41,349 to €73,880
of which Trade receivables: +€31,254
- Tangible fixed assets -€15,454
down €15,454 (-3.4%), from €448,222 to €432,769
of which Land and buildings: -€15,402
- Cash -€7,284
down €7,284 (-17.6%), from €41,415 to €34,131
mainly Receivables within one year (-€32,531) and Debts after one year (-€26,250)
- Debts after one year -€26,250
down €26,250 (-6.7%), from €389,375 to €363,125
- Advances received +€25,875
up €25,875 (+84.0%), from €30,791 to €56,666
- Reserves +€9,518
up €9,518 (+334%), from €2,854 to €12,372
- Staff costs +€24,412
up €24,412 (+90.0%), from €27,115 to €51,527
- Gross operating margin +€22,149
up €22,149 (+36.2%), from €61,208 to €83,357
- Financial charges -€3,440
down €3,440 (-41.9%), from €8,214 to €4,775
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 | €531,152 | €541,081 | +€9,929 | +1.9% |
| Fixed assets | 21/28 | €448,222 | €432,769 | -€15,454 | -3.4% |
| Tangible fixed assets | 22/27 | €448,222 | €432,769 | -€15,454 | -3.4% |
| Land and buildings | 22 | €448,171 | €432,769 | -€15,402 | -3.4% |
| Plant, machinery and equipment | 23 | €51 | €0 | -€51 | -100% |
| Current assets | 29/58 | €82,930 | €108,312 | +€25,382 | +30.6% |
| Amounts receivable within one year | 40/41 | €41,349 | €73,880 | +€32,531 | +78.7% |
| Trade receivables | 40 | €41,349 | €72,603 | +€31,254 | +75.6% |
| Other amounts receivable | 41 | - | €1,277 | +€1,277 | |
| Cash at bank and in hand | 54/58 | €41,415 | €34,131 | -€7,284 | -17.6% |
| Deferred charges and accrued income | 490/1 | €166 | €301 | +€135 | +81.4% |
| Total equity and liabilities | 10/49 | €531,152 | €541,081 | +€9,929 | +1.9% |
| Equity | 10/15 | €77,854 | €87,372 | +€9,518 | +12.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €2,854 | €12,372 | +€9,518 | +334% |
| Distributable reserves | 133 | €2,854 | €12,372 | +€9,518 | +334% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €453,298 | €453,708 | +€410 | +0.1% |
| Amounts payable after more than one year | 17 | €389,375 | €363,125 | -€26,250 | -6.7% |
| Financial debts | 170/4 | €389,375 | €363,125 | -€26,250 | -6.7% |
| Amounts payable within one year | 42/48 | €63,923 | €90,583 | +€26,660 | +41.7% |
| Current portion of amounts payable after more than one year | 42 | €26,250 | €26,250 | = | 0.0% |
| Trade debts | 44 | €2,403 | €3,689 | +€1,285 | +53.5% |
| Suppliers | 440/4 | €2,403 | €3,689 | +€1,285 | +53.5% |
| Advances received on contracts in progress | 46 | €30,791 | €56,666 | +€25,875 | +84.0% |
| Taxes, remuneration and social security | 45 | €4,156 | €3,979 | -€177 | -4.3% |
| Remuneration and social security | 454/9 | €4,156 | €3,979 | -€177 | -4.3% |
| Other amounts payable | 47/48 | €323 | €0 | -€323 | -100% |
| Remuneration, social security and pensions | 62 | €27,115 | €51,527 | +€24,412 | +90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,488 | €15,454 | -€35 | -0.2% |
| Other operating charges | 640/8 | €2,027 | €2,084 | +€57 | +2.8% |
| Gross operating margin | 9900 | €61,208 | €83,357 | +€22,149 | +36.2% |
| Operating profit (loss) | 9901 | €16,578 | €14,293 | -€2,285 | -13.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,214 | €4,775 | -€3,440 | -41.9% |
| Recurring financial charges | 65 | €8,214 | €4,775 | -€3,440 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | €8,364 | €9,518 | +€1,155 | +13.8% |
| Profit (loss) for the period | 9904 | €8,364 | €9,518 | +€1,155 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,364 | €9,518 | +€1,155 | +13.8% |
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 19 October 2026 via checked.be.