MIEKE CANNIE: 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.
MIEKE CANNIE
Largest movements
- Tangible fixed assets -€25,610
down €25,610 (-1.6%), from €1.6m to €1.6m
of which Land and buildings: -€31,248
- Other debts +€418,197
up €418,197 (+81.9%), from €510,512 to €928,710
- Reserves -€251,870
down €251,870 (-28.9%), from €872,280 to €620,410
- Debts after one year -€81,605
down €81,605 (-24.7%), from €329,777 to €248,172
- Tax, wage and social debts -€54,179
down €54,179 (-70.8%), from €76,535 to €22,356
- Accrued charges and deferred income -€29,057
no longer reported in 2025 (was €29,057)
- Gross operating margin -€76,897
down €76,897 (-15.4%), from €500,037 to €423,140
- Other operating charges -€32,406
down €32,406 (-50.7%), from €63,867 to €31,461
- Financial charges -€26,848
down €26,848 (-69.7%), from €38,536 to €11,688
- Taxes -€8,119
down €8,119 (-7.6%), from €107,399 to €99,280
- Depreciation +€7,192
up €7,192 (+14.1%), from €51,019 to €58,211
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 | €1,935,238 | €1,936,828 | +€1,589 | +0.1% |
| Fixed assets | 21/28 | €1,579,519 | €1,553,910 | -€25,610 | -1.6% |
| Tangible fixed assets | 22/27 | €1,579,494 | €1,553,885 | -€25,610 | -1.6% |
| Land and buildings | 22 | €1,573,864 | €1,542,616 | -€31,248 | -2.0% |
| Furniture and vehicles | 24 | €5,631 | €11,269 | +€5,638 | +100% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €355,719 | €382,918 | +€27,199 | +7.6% |
| Amounts receivable within one year | 40/41 | €131,698 | €149,371 | +€17,673 | +13.4% |
| Trade receivables | 40 | €48 | €1,778 | +€1,730 | +3,578% |
| Other amounts receivable | 41 | €131,650 | €147,592 | +€15,943 | +12.1% |
| Current investments | 50/53 | €5,699 | €5,355 | -€344 | -6.0% |
| Cash at bank and in hand | 54/58 | €213,889 | €218,192 | +€4,303 | +2.0% |
| Deferred charges and accrued income | 490/1 | €4,433 | €10,000 | +€5,567 | +126% |
| Total equity and liabilities | 10/49 | €1,935,238 | €1,936,828 | +€1,589 | +0.1% |
| Equity | 10/15 | €906,524 | €654,658 | -€251,867 | -27.8% |
| Contributions | 10/11 | €31,385 | €31,385 | = | 0.0% |
| Contributions outside capital | 11 | €31,385 | €31,385 | = | 0.0% |
| Other | 1109/19 | €31,385 | €31,385 | = | 0.0% |
| Reserves | 13 | €872,280 | €620,410 | -€251,870 | -28.9% |
| Distributable reserves | 133 | €872,280 | €620,410 | -€251,870 | -28.9% |
| Profit (loss) carried forward | 14 | €2,860 | €2,863 | +€3 | +0.1% |
| Amounts payable | 17/49 | €1,028,714 | €1,282,170 | +€253,456 | +24.6% |
| Amounts payable after more than one year | 17 | €329,777 | €248,172 | -€81,605 | -24.7% |
| Financial debts | 170/4 | €329,777 | €248,172 | -€81,605 | -24.7% |
| Amounts payable within one year | 42/48 | €669,880 | €1,033,997 | +€364,118 | +54.4% |
| Current portion of amounts payable after more than one year | 42 | €81,505 | €81,605 | +€100 | +0.1% |
| Trade debts | 44 | €1,327 | €1,327 | -€0 | 0.0% |
| Suppliers | 440/4 | €1,327 | €1,327 | -€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €76,535 | €22,356 | -€54,179 | -70.8% |
| Taxes | 450/3 | €76,535 | €22,356 | -€54,179 | -70.8% |
| Other amounts payable | 47/48 | €510,512 | €928,710 | +€418,197 | +81.9% |
| Accrued charges and deferred income | 492/3 | €29,057 | - | -€29,057 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,019 | €58,211 | +€7,192 | +14.1% |
| Other operating charges | 640/8 | €63,867 | €31,461 | -€32,406 | -50.7% |
| Gross operating margin | 9900 | €500,037 | €423,140 | -€76,897 | -15.4% |
| Operating profit (loss) | 9901 | €385,150 | €333,468 | -€51,683 | -13.4% |
| Financial income | 75/76B | €180 | €1,064 | +€884 | +491% |
| Recurring financial income | 75 | €180 | €1,064 | +€884 | +491% |
| Financial charges | 65/66B | €38,536 | €11,688 | -€26,848 | -69.7% |
| Recurring financial charges | 65 | €38,536 | €11,688 | -€26,848 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | €346,794 | €322,844 | -€23,951 | -6.9% |
| Income taxes | 67/77 | €107,399 | €99,280 | -€8,119 | -7.6% |
| Profit (loss) for the period | 9904 | €239,395 | €223,563 | -€15,831 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €239,395 | €223,563 | -€15,831 | -6.6% |
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 18 October 2026 via checked.be.