Mieke Vandorpe: 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 Vandorpe
Largest movements
- Current investments -€148,500
down €148,500 (-100%), from €148,500 to €0
- Cash +€38,292
up €38,292 (+25.0%), from €153,415 to €191,707
mainly Other debts (+€200,694) and Current investments (+€148,500)
- Receivables within one year +€26,917
up €26,917 (+297%), from €9,053 to €35,970
of which Trade receivables: +€26,494
- Profit (loss) carried forward -€291,838
down €291,838 (-100%), from €291,838 to €0
- Other debts +€200,694
up €200,694 (+2,133%), from €9,408 to €210,102
- Trade debts +€7,528
up €7,528 (+1,811%), from €416 to €7,943
- Financial income +€38,254
up €38,254, from €0 to €38,254
- Gross operating margin +€26,168
up €26,168 (+34.1%), from €76,843 to €103,011
- Taxes +€2,317
up €2,317 (+8.8%), from €26,461 to €28,778
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 | €318,671 | €234,720 | -€83,951 | -26.3% |
| Fixed assets | 21/28 | €5,968 | €5,417 | -€551 | -9.2% |
| Tangible fixed assets | 22/27 | €5,968 | €5,417 | -€551 | -9.2% |
| Furniture and vehicles | 24 | €5,968 | €4,191 | -€1,776 | -29.8% |
| Other tangible fixed assets | 26 | - | €1,225 | +€1,225 | |
| Current assets | 29/58 | €312,704 | €229,303 | -€83,400 | -26.7% |
| Amounts receivable within one year | 40/41 | €9,053 | €35,970 | +€26,917 | +297% |
| Trade receivables | 40 | €9,053 | €35,547 | +€26,494 | +293% |
| Other amounts receivable | 41 | €0 | €423 | +€423 | |
| Current investments | 50/53 | €148,500 | €0 | -€148,500 | -100% |
| Cash at bank and in hand | 54/58 | €153,415 | €191,707 | +€38,292 | +25.0% |
| Deferred charges and accrued income | 490/1 | €1,736 | €1,626 | -€110 | -6.3% |
| Total equity and liabilities | 10/49 | €318,671 | €234,720 | -€83,951 | -26.3% |
| Equity | 10/15 | €294,838 | €3,000 | -€291,838 | -99.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €291,838 | €0 | -€291,838 | -100% |
| Amounts payable | 17/49 | €23,833 | €231,720 | +€207,887 | +872% |
| Amounts payable within one year | 42/48 | €23,833 | €231,677 | +€207,844 | +872% |
| Trade debts | 44 | €416 | €7,943 | +€7,528 | +1,811% |
| Suppliers | 440/4 | €416 | €7,943 | +€7,528 | +1,811% |
| Taxes, remuneration and social security | 45 | €14,009 | €13,632 | -€377 | -2.7% |
| Taxes | 450/3 | €14,009 | €12,582 | -€1,427 | -10.2% |
| Remuneration and social security | 454/9 | €0 | €1,050 | +€1,050 | |
| Other amounts payable | 47/48 | €9,408 | €210,102 | +€200,694 | +2,133% |
| Accrued charges and deferred income | 492/3 | €0 | €43 | +€43 | |
| Non-recurring operating income | 76A | €9,043 | €127 | -€8,916 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,020 | €1,785 | -€235 | -11.6% |
| Other operating charges | 640/8 | €786 | €863 | +€77 | +9.8% |
| Non-recurring operating charges | 66A | €1,398 | €0 | -€1,398 | -100% |
| Gross operating margin | 9900 | €76,843 | €103,011 | +€26,168 | +34.1% |
| Operating profit (loss) | 9901 | €72,639 | €100,363 | +€27,724 | +38.2% |
| Financial income | 75/76B | €0 | €38,254 | +€38,254 | |
| Recurring financial income | 75 | €0 | €38,254 | +€38,254 | |
| Financial charges | 65/66B | €168 | €633 | +€466 | +278% |
| Recurring financial charges | 65 | €168 | €633 | +€466 | +278% |
| Profit (loss) for the period before taxes | 9903 | €72,471 | €137,984 | +€65,512 | +90.4% |
| Income taxes | 67/77 | €26,461 | €28,778 | +€2,317 | +8.8% |
| Profit (loss) for the period | 9904 | €46,011 | €109,206 | +€63,195 | +137% |
| Profit (loss) for the period to be appropriated | 9905 | €46,011 | €109,206 | +€63,195 | +137% |
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 31 October 2026 via checked.be.