DR. DANNI VAN MIEGHEM: 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.
DR. DANNI VAN MIEGHEM
Largest movements
- Current investments -€97,828
down €97,828 (-28.0%), from €348,947 to €251,119
- Tangible fixed assets -€29,585
down €29,585 (-20.4%), from €145,040 to €115,456
of which Furniture and vehicles: -€30,150
- Receivables within one year +€13,448
new in 2025: €13,448
- Cash -€11,931
down €11,931 (-15.2%), from €78,468 to €66,537
mainly Other debts (-€96,942) and Contributions, distributions and other (-€48,000)
- Other debts -€96,942
down €96,942 (-66.9%), from €144,942 to €48,000
- Reserves -€20,522
down €20,522 (-5.3%), from €383,982 to €363,460
- Accrued charges and deferred income -€5,775
down €5,775 (-72.3%), from €7,993 to €2,218
- Gross operating margin -€28,974
down €28,974 (-28.7%), from €101,071 to €72,097
- Depreciation +€23,577
up €23,577 (+304%), from €7,754 to €31,331
- Taxes -€9,206
down €9,206 (-35.3%), from €26,107 to €16,901
- Financial charges -€6,146
down €6,146 (-76.2%), from €8,061 to €1,914
- Financial income +€3,266
up €3,266 (+71.0%), from €4,603 to €7,869
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 | €576,053 | €450,267 | -€125,786 | -21.8% |
| Fixed assets | 21/28 | €145,040 | €115,456 | -€29,585 | -20.4% |
| Tangible fixed assets | 22/27 | €145,040 | €115,456 | -€29,585 | -20.4% |
| Plant, machinery and equipment | 23 | €725 | €1,290 | +€565 | +78.0% |
| Furniture and vehicles | 24 | €144,316 | €114,165 | -€30,150 | -20.9% |
| Current assets | 29/58 | €431,013 | €334,812 | -€96,201 | -22.3% |
| Amounts receivable within one year | 40/41 | - | €13,448 | +€13,448 | |
| Other amounts receivable | 41 | - | €13,448 | +€13,448 | |
| Current investments | 50/53 | €348,947 | €251,119 | -€97,828 | -28.0% |
| Cash at bank and in hand | 54/58 | €78,468 | €66,537 | -€11,931 | -15.2% |
| Deferred charges and accrued income | 490/1 | €3,598 | €3,707 | +€109 | +3.0% |
| Total equity and liabilities | 10/49 | €576,053 | €450,267 | -€125,786 | -21.8% |
| Equity | 10/15 | €413,031 | €392,509 | -€20,522 | -5.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €383,982 | €363,460 | -€20,522 | -5.3% |
| Distributable reserves | 133 | €383,982 | €363,460 | -€20,522 | -5.3% |
| Profit (loss) carried forward | 14 | €10,049 | €10,049 | = | 0.0% |
| Amounts payable | 17/49 | €163,022 | €57,758 | -€105,264 | -64.6% |
| Amounts payable within one year | 42/48 | €155,029 | €55,540 | -€99,489 | -64.2% |
| Trade debts | 44 | €203 | €1,513 | +€1,309 | +643% |
| Suppliers | 440/4 | €203 | €1,513 | +€1,309 | +643% |
| Taxes, remuneration and social security | 45 | €9,884 | €6,028 | -€3,856 | -39.0% |
| Taxes | 450/3 | €9,884 | €6,028 | -€3,856 | -39.0% |
| Other amounts payable | 47/48 | €144,942 | €48,000 | -€96,942 | -66.9% |
| Accrued charges and deferred income | 492/3 | €7,993 | €2,218 | -€5,775 | -72.3% |
| Non-recurring operating income | 76A | €32,500 | €0 | -€32,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,754 | €31,331 | +€23,577 | +304% |
| Other operating charges | 640/8 | €2,403 | €2,341 | -€62 | -2.6% |
| Non-recurring operating charges | 66A | €4,732 | €0 | -€4,732 | -100% |
| Gross operating margin | 9900 | €101,071 | €72,097 | -€28,974 | -28.7% |
| Operating profit (loss) | 9901 | €86,182 | €38,424 | -€47,758 | -55.4% |
| Financial income | 75/76B | €4,603 | €7,869 | +€3,266 | +71.0% |
| Recurring financial income | 75 | €4,603 | €7,869 | +€3,266 | +71.0% |
| Financial charges | 65/66B | €8,061 | €1,914 | -€6,146 | -76.2% |
| Recurring financial charges | 65 | €8,061 | €1,914 | -€6,146 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | €82,724 | €44,379 | -€38,345 | -46.4% |
| Income taxes | 67/77 | €26,107 | €16,901 | -€9,206 | -35.3% |
| Profit (loss) for the period | 9904 | €56,617 | €27,478 | -€29,140 | -51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,617 | €27,478 | -€29,140 | -51.5% |
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 18 October 2026 via checked.be.