MIERMANS: 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.
MIERMANS
Largest movements
- Cash +€58,733
up €58,733 (+9.5%), from €616,209 to €674,942
mainly Other debts (+€68,214) and Net result for the year (+€54,250)
- Other debts +€68,214
new in 2025: €68,214
- Profit (loss) carried forward -€65,895
down €65,895 (-12.9%), from €510,647 to €444,752
- Reserves +€54,250
up €54,250 (+49.0%), from €110,690 to €164,940
of which Distributable reserves: +€54,250
- Gross operating margin +€45,926
up €45,926 (+101%), from €45,602 to €91,528
- Staff costs -€16,846
down €16,846 (-44.8%), from €37,579 to €20,732
- Taxes +€13,458
up €13,458 (+7,681%), from €175 to €13,633
- Other operating charges -€3,565
down €3,565 (-76.3%), from €4,674 to €1,109
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 | €666,361 | €721,610 | +€55,249 | +8.3% |
| Fixed assets | 21/28 | €11,361 | €7,555 | -€3,806 | -33.5% |
| Tangible fixed assets | 22/27 | €10,861 | €7,055 | -€3,806 | -35.0% |
| Plant, machinery and equipment | 23 | €311 | €1,256 | +€945 | +304% |
| Furniture and vehicles | 24 | €10,550 | €5,799 | -€4,751 | -45.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €655,001 | €714,055 | +€59,055 | +9.0% |
| Amounts receivable within one year | 40/41 | €38,792 | €39,113 | +€321 | +0.8% |
| Trade receivables | 40 | €6,861 | €12,874 | +€6,012 | +87.6% |
| Other amounts receivable | 41 | €31,931 | €26,240 | -€5,691 | -17.8% |
| Cash at bank and in hand | 54/58 | €616,209 | €674,942 | +€58,733 | +9.5% |
| Total equity and liabilities | 10/49 | €666,361 | €721,610 | +€55,249 | +8.3% |
| Equity | 10/15 | €645,869 | €634,224 | -€11,645 | -1.8% |
| Contributions | 10/11 | €24,532 | €24,532 | = | 0.0% |
| Reserves | 13 | €110,690 | €164,940 | +€54,250 | +49.0% |
| Tax-exempt reserves | 132 | €44,750 | €44,750 | = | 0.0% |
| Distributable reserves | 133 | €65,940 | €120,190 | +€54,250 | +82.3% |
| Profit (loss) carried forward | 14 | €510,647 | €444,752 | -€65,895 | -12.9% |
| Amounts payable | 17/49 | €20,492 | €87,386 | +€66,894 | +326% |
| Amounts payable within one year | 42/48 | €20,492 | €87,386 | +€66,894 | +326% |
| Trade debts | 44 | €2,918 | €2,510 | -€407 | -14.0% |
| Suppliers | 440/4 | €2,918 | €2,510 | -€407 | -14.0% |
| Taxes, remuneration and social security | 45 | €17,575 | €16,661 | -€913 | -5.2% |
| Taxes | 450/3 | €10,917 | €13,243 | +€2,327 | +21.3% |
| Remuneration and social security | 454/9 | €6,658 | €3,418 | -€3,240 | -48.7% |
| Other amounts payable | 47/48 | - | €68,214 | +€68,214 | |
| Remuneration, social security and pensions | 62 | €37,579 | €20,732 | -€16,846 | -44.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,024 | €5,301 | +€278 | +5.5% |
| Other operating charges | 640/8 | €4,674 | €1,109 | -€3,565 | -76.3% |
| Gross operating margin | 9900 | €45,602 | €91,528 | +€45,926 | +101% |
| Operating profit (loss) | 9901 | -€1,675 | €64,385 | +€66,060 | |
| Financial income | 75/76B | €3,000 | €3,651 | +€651 | +21.7% |
| Recurring financial income | 75 | €3,000 | €3,651 | +€651 | +21.7% |
| Financial charges | 65/66B | €69 | €152 | +€83 | +120% |
| Recurring financial charges | 65 | €69 | €152 | +€83 | +120% |
| Profit (loss) for the period before taxes | 9903 | €1,256 | €67,884 | +€66,627 | +5,304% |
| Income taxes | 67/77 | €175 | €13,633 | +€13,458 | +7,681% |
| Profit (loss) for the period | 9904 | €1,081 | €54,250 | +€53,169 | +4,918% |
| Profit (loss) for the period to be appropriated | 9905 | €1,081 | €54,250 | +€53,169 | +4,918% |
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 29 October 2026 via checked.be.