MIEKE SCHEIRE: 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 SCHEIRE
Largest movements
- Cash +€52,960
up €52,960 (+41.6%), from €127,437 to €180,398
mainly Net result for the year (+€93,877) and Depreciation (+€19,037)
- Tangible fixed assets +€11,253
up €11,253 (+70.4%), from €15,991 to €27,244
of which Plant, machinery and equipment: +€7,867
- Reserves +€65,618
up €65,618 (+35.5%), from €184,615 to €250,233
- Tax, wage and social debts -€3,505
down €3,505 (-46.5%), from €7,532 to €4,027
- Debts after one year -€3,016
down €3,016 (-19.5%), from €15,449 to €12,433
- Gross operating margin +€59,102
up €59,102 (+63.1%), from €93,699 to €152,801
- Taxes +€16,495
up €16,495 (+78.4%), from €21,032 to €37,527
- Other operating charges -€3,061
down €3,061 (-68.7%), from €4,458 to €1,397
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.
Cash bridge derived
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 | €216,155 | €279,807 | +€63,652 | +29.4% |
| Fixed assets | 21/28 | €15,991 | €27,244 | +€11,253 | +70.4% |
| Tangible fixed assets | 22/27 | €15,991 | €27,244 | +€11,253 | +70.4% |
| Plant, machinery and equipment | 23 | €15,611 | €23,478 | +€7,867 | +50.4% |
| Furniture and vehicles | 24 | €380 | €3,765 | +€3,386 | +891.7% |
| Current assets | 29/58 | €200,165 | €252,563 | +€52,399 | +26.2% |
| Amounts receivable within one year | 40/41 | €1,605 | €1,611 | +€6 | +0.4% |
| Trade receivables | 40 | €1,605 | €1,611 | +€6 | +0.4% |
| Current investments | 50/53 | €70,000 | €70,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €127,437 | €180,398 | +€52,960 | +41.6% |
| Deferred charges and accrued income | 490/1 | €1,123 | €555 | -€568 | -50.6% |
| Total equity and liabilities | 10/49 | €216,155 | €279,807 | +€63,652 | +29.4% |
| Equity | 10/15 | €188,615 | €254,233 | +€65,618 | +34.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €184,615 | €250,233 | +€65,618 | +35.5% |
| Distributable reserves | 133 | €184,615 | €250,233 | +€65,618 | +35.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €27,541 | €25,575 | -€1,966 | -7.1% |
| Amounts payable after more than one year | 17 | €15,449 | €12,433 | -€3,016 | -19.5% |
| Financial debts | 170/4 | €15,449 | €12,433 | -€3,016 | -19.5% |
| Amounts payable within one year | 42/48 | €12,092 | €13,142 | +€1,050 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €2,980 | €3,016 | +€36 | +1.2% |
| Trade debts | 44 | €605 | €2,995 | +€2,390 | +395.1% |
| Suppliers | 440/4 | €605 | €2,995 | +€2,390 | +395.1% |
| Taxes, remuneration and social security | 45 | €7,532 | €4,027 | -€3,505 | -46.5% |
| Taxes | 450/3 | €7,532 | €4,027 | -€3,505 | -46.5% |
| Other amounts payable | 47/48 | €974 | €3,104 | +€2,130 | +218.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,668 | €19,037 | +€1,368 | +7.7% |
| Other operating charges | 640/8 | €4,458 | €1,397 | -€3,061 | -68.7% |
| Gross operating margin | 9900 | €93,699 | €152,801 | +€59,102 | +63.1% |
| Operating profit (loss) | 9901 | €71,573 | €132,367 | +€60,794 | +84.9% |
| Financial charges | 65/66B | €1,005 | €963 | -€42 | -4.1% |
| Recurring financial charges | 65 | €1,005 | €963 | -€42 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €70,569 | €131,404 | +€60,836 | +86.2% |
| Income taxes | 67/77 | €21,032 | €37,527 | +€16,495 | +78.4% |
| Profit (loss) for the period | 9904 | €49,537 | €93,877 | +€44,341 | +89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €49,537 | €93,877 | +€44,341 | +89.5% |
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 10 October 2026 via checked.be.