MIRAMAR: what changed
Two fiscal 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.
MIRAMAR
Largest movements
- Tangible fixed assets +€28,180
up €28,180 (+63.3%), from €44,552 to €72,733
of which Furniture and vehicles: +€28,644
- Receivables within one year -€5,884
down €5,884 (-7.7%), from €76,140 to €70,257
of which Other amounts receivable: -€5,499
- Cash -€5,046
down €5,046 (-34.0%), from €14,855 to €9,809
mainly Investment in fixed assets (net) (-€41,095) and Contributions, distributions and other (-€20,000)
- Profit (loss) carried forward +€39,618
up €39,618 (+281.2%), from €14,090 to €53,708
- Trade debts -€18,914
down €18,914 (-45.1%), from €41,930 to €23,016
- Other debts -€6,450
down €6,450 (-32.0%), from €20,150 to €13,700
- Tax, wage and social debts +€2,133
up €2,133 (+9.1%), from €23,425 to €25,557
- Purchases and services -€600,413
down €600,413 (-87.1%), from €688,976 to €88,562
- Turnover -€590,429
down €590,429 (-79.8%), from €739,941 to €149,512
- Gross operating margin +€47,601
up €47,601 (+93.4%), from €50,966 to €98,567
- Taxes +€17,041
up €17,041 (+207.7%), from €8,205 to €25,246
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 | €137,655 | €154,042 | +€16,387 | +11.9% |
| Fixed assets | 21/28 | €44,602 | €72,783 | +€28,180 | +63.2% |
| Tangible fixed assets | 22/27 | €44,552 | €72,733 | +€28,180 | +63.3% |
| Furniture and vehicles | 24 | €40,698 | €69,342 | +€28,644 | +70.4% |
| Other tangible fixed assets | 26 | €3,854 | €3,391 | -€464 | -12.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €93,053 | €81,259 | -€11,794 | -12.7% |
| Amounts receivable within one year | 40/41 | €76,140 | €70,257 | -€5,884 | -7.7% |
| Trade receivables | 40 | €36,378 | €35,993 | -€385 | -1.1% |
| Other amounts receivable | 41 | €39,763 | €34,264 | -€5,499 | -13.8% |
| Cash at bank and in hand | 54/58 | €14,855 | €9,809 | -€5,046 | -34.0% |
| Deferred charges and accrued income | 490/1 | €2,057 | €1,192 | -€865 | -42.0% |
| Total equity and liabilities | 10/49 | €137,655 | €154,042 | +€16,387 | +11.9% |
| Equity | 10/15 | €52,150 | €91,768 | +€39,618 | +76.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,860 | €31,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,090 | €53,708 | +€39,618 | +281.2% |
| Amounts payable | 17/49 | €85,505 | €62,273 | -€23,231 | -27.2% |
| Amounts payable within one year | 42/48 | €85,505 | €62,273 | -€23,231 | -27.2% |
| Trade debts | 44 | €41,930 | €23,016 | -€18,914 | -45.1% |
| Suppliers | 440/4 | €41,930 | €23,016 | -€18,914 | -45.1% |
| Taxes, remuneration and social security | 45 | €23,425 | €25,557 | +€2,133 | +9.1% |
| Taxes | 450/3 | €23,425 | €25,557 | +€2,133 | +9.1% |
| Other amounts payable | 47/48 | €20,150 | €13,700 | -€6,450 | -32.0% |
| Turnover | 70 | €739,941 | €149,512 | -€590,429 | -79.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €688,976 | €88,562 | -€600,413 | -87.1% |
| Remuneration, social security and pensions | 62 | €206 | €127 | -€78 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,717 | €12,915 | +€2,198 | +20.5% |
| Other operating charges | 640/8 | €45 | €411 | +€366 | +813.9% |
| Gross operating margin | 9900 | €50,966 | €98,567 | +€47,601 | +93.4% |
| Operating profit (loss) | 9901 | €39,998 | €85,114 | +€45,116 | +112.8% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €216 | €251 | +€35 | +16.3% |
| Recurring financial charges | 65 | €216 | €251 | +€35 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €39,782 | €84,864 | +€45,081 | +113.3% |
| Income taxes | 67/77 | €8,205 | €25,246 | +€17,041 | +207.7% |
| Profit (loss) for the period | 9904 | €31,578 | €59,618 | +€28,040 | +88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,578 | €59,618 | +€28,040 | +88.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.