MIERS Factory: 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.
MIERS Factory
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-67.2%), from €1.5m to €492,165
of which Other amounts receivable: -€696,701
- Stocks and contracts -€56,377
down €56,377 (-13.7%), from €411,818 to €355,441
- Tangible fixed assets +€33,481
up €33,481 (+106%), from €31,565 to €65,046
of which Leasing and similar rights: +€41,818
- Accrued charges and deferred income -€608,314
down €608,314 (-94.2%), from €645,742 to €37,429
- Other debts -€328,373
down €328,373 (-100%), from €328,373 to €0
- Trade debts -€209,880
down €209,880 (-49.0%), from €427,940 to €218,060
- Profit (loss) carried forward +€41,207
up €41,207 (+19.4%), from €212,556 to €253,764
- Debts after one year +€26,579
new in 2025: €26,579
- Staff costs -€41,912
down €41,912 (-6.4%), from €654,501 to €612,589
- Gross operating margin -€18,420
down €18,420 (-2.6%), from €707,637 to €689,217
- Taxes +€12,689
up €12,689 (+2,769%), from €458 to €13,148
- Financial charges +€12,180
up €12,180 (+39.4%), from €30,893 to €43,073
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 | €1,952,102 | €916,359 | -€1.0m | -53.1% |
| Fixed assets | 21/28 | €37,698 | €65,046 | +€27,349 | +72.5% |
| Intangible fixed assets | 21 | €6,133 | €0 | -€6,133 | -100% |
| Tangible fixed assets | 22/27 | €31,565 | €65,046 | +€33,481 | +106% |
| Plant, machinery and equipment | 23 | €24,976 | €18,837 | -€6,139 | -24.6% |
| Furniture and vehicles | 24 | €6,589 | €4,391 | -€2,198 | -33.4% |
| Leasing and similar rights | 25 | - | €41,818 | +€41,818 | |
| Current assets | 29/58 | €1,914,404 | €851,313 | -€1.1m | -55.5% |
| Stocks and contracts in progress | 3 | €411,818 | €355,441 | -€56,377 | -13.7% |
| Stocks | 30/36 | €411,818 | €355,441 | -€56,377 | -13.7% |
| Amounts receivable within one year | 40/41 | €1,501,158 | €492,165 | -€1.0m | -67.2% |
| Trade receivables | 40 | €579,544 | €267,252 | -€312,292 | -53.9% |
| Other amounts receivable | 41 | €921,613 | €224,913 | -€696,701 | -75.6% |
| Cash at bank and in hand | 54/58 | €442 | €2,840 | +€2,398 | +543% |
| Deferred charges and accrued income | 490/1 | €987 | €866 | -€120 | -12.2% |
| Total equity and liabilities | 10/49 | €1,952,102 | €916,359 | -€1.0m | -53.1% |
| Equity | 10/15 | €364,809 | €406,016 | +€41,207 | +11.3% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €28,253 | €28,253 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,453 | €13,453 | = | 0.0% |
| Legal reserve | 130 | €13,453 | €13,453 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,800 | €14,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €212,556 | €253,764 | +€41,207 | +19.4% |
| Amounts payable | 17/49 | €1,587,293 | €510,342 | -€1.1m | -67.8% |
| Amounts payable after more than one year | 17 | - | €26,579 | +€26,579 | |
| Financial debts | 170/4 | - | €26,579 | +€26,579 | |
| Amounts payable within one year | 42/48 | €941,551 | €446,335 | -€495,216 | -52.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,452 | +€6,452 | |
| Financial debts | 43 | €64,513 | €82,134 | +€17,621 | +27.3% |
| Credit institutions | 430/8 | €64,513 | €82,134 | +€17,621 | +27.3% |
| Trade debts | 44 | €427,940 | €218,060 | -€209,880 | -49.0% |
| Suppliers | 440/4 | €427,940 | €218,060 | -€209,880 | -49.0% |
| Taxes, remuneration and social security | 45 | €120,725 | €139,689 | +€18,964 | +15.7% |
| Taxes | 450/3 | €26,873 | €30,231 | +€3,357 | +12.5% |
| Remuneration and social security | 454/9 | €93,851 | €109,458 | +€15,607 | +16.6% |
| Other amounts payable | 47/48 | €328,373 | €0 | -€328,373 | -100% |
| Accrued charges and deferred income | 492/3 | €645,742 | €37,429 | -€608,314 | -94.2% |
| Remuneration, social security and pensions | 62 | €654,501 | €612,589 | -€41,912 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,948 | €21,387 | +€3,439 | +19.2% |
| Other operating charges | 640/8 | €5,658 | €6,136 | +€478 | +8.5% |
| Gross operating margin | 9900 | €707,637 | €689,217 | -€18,420 | -2.6% |
| Operating profit (loss) | 9901 | €29,529 | €49,105 | +€19,575 | +66.3% |
| Financial income | 75/76B | €44,943 | €48,323 | +€3,379 | +7.5% |
| Recurring financial income | 75 | €44,943 | €48,323 | +€3,379 | +7.5% |
| Financial charges | 65/66B | €30,893 | €43,073 | +€12,180 | +39.4% |
| Recurring financial charges | 65 | €30,893 | €43,073 | +€12,180 | +39.4% |
| Profit (loss) for the period before taxes | 9903 | €43,580 | €54,355 | +€10,775 | +24.7% |
| Income taxes | 67/77 | €458 | €13,148 | +€12,689 | +2,769% |
| Profit (loss) for the period | 9904 | €43,122 | €41,207 | -€1,914 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,122 | €41,207 | -€1,914 | -4.4% |
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 23 October 2026 via checked.be.