MIRROR PALACE: 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.
MIRROR PALACE
Largest movements
- Stocks and contracts -€2.2m
no longer reported in 2025 (was €2.2m)
- Tangible fixed assets +€1.8m
up €1.8m (+218,272%), from €845 to €1.8m
- Cash +€252,596
up €252,596 (+390%), from €64,721 to €317,317
mainly Stocks and contracts (+€2.2m) and Accrued charges and deferred income (+€2.0m)
- Receivables within one year -€146,136
down €146,136 (-48.8%), from €299,256 to €153,119
of which Trade receivables: -€158,014
- Advances received -€2.2m
no longer reported in 2025 (was €2.2m)
- Accrued charges and deferred income +€2.0m
new in 2025: €2.0m
- Profit (loss) carried forward -€126,560
down €126,560 (-406%), from -€31,179 to -€157,738
- Trade debts +€125,188
up €125,188 (+69.6%), from €179,836 to €305,025
- Depreciation +€307,381
up €307,381 (+85,353%), from €360 to €307,741
- Gross operating margin +€108,138
up €108,138 (+139%), from €77,661 to €185,799
- Financial charges +€5,380
new in 2025: €5,380
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 | €2,516,721 | €2,315,440 | -€201,281 | -8.0% |
| Fixed assets | 21/28 | €845 | €1,844,957 | +€1.8m | +218,272% |
| Tangible fixed assets | 22/27 | €845 | €1,844,957 | +€1.8m | +218,272% |
| Plant, machinery and equipment | 23 | €845 | €1,844,957 | +€1.8m | +218,272% |
| Current assets | 29/58 | €2,515,876 | €470,483 | -€2.0m | -81.3% |
| Stocks and contracts in progress | 3 | €2,151,853 | - | -€2.2m | |
| Stocks | 30/36 | €2,151,853 | - | -€2.2m | |
| Amounts receivable within one year | 40/41 | €299,256 | €153,119 | -€146,136 | -48.8% |
| Trade receivables | 40 | €254,804 | €96,790 | -€158,014 | -62.0% |
| Other amounts receivable | 41 | €44,452 | €56,329 | +€11,877 | +26.7% |
| Cash at bank and in hand | 54/58 | €64,721 | €317,317 | +€252,596 | +390% |
| Deferred charges and accrued income | 490/1 | €47 | €47 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,516,721 | €2,315,440 | -€201,281 | -8.0% |
| Equity | 10/15 | €119,821 | -€6,738 | -€126,560 | |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €143,000 | €143,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €141,000 | €141,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,179 | -€157,738 | -€126,560 | -406% |
| Amounts payable | 17/49 | €2,396,900 | €2,322,178 | -€74,722 | -3.1% |
| Amounts payable within one year | 42/48 | €2,396,900 | €305,025 | -€2.1m | -87.3% |
| Trade debts | 44 | €179,836 | €305,025 | +€125,188 | +69.6% |
| Suppliers | 440/4 | €179,836 | €305,025 | +€125,188 | +69.6% |
| Advances received on contracts in progress | 46 | €2,217,063 | - | -€2.2m | |
| Accrued charges and deferred income | 492/3 | - | €2,017,154 | +€2.0m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €360 | €307,741 | +€307,381 | +85,353% |
| Gross operating margin | 9900 | €77,661 | €185,799 | +€108,138 | +139% |
| Operating profit (loss) | 9901 | €77,301 | -€121,942 | -€199,242 | |
| Financial income | 75/76B | €750 | €762 | +€12 | +1.6% |
| Recurring financial income | 75 | €750 | €762 | +€12 | +1.6% |
| Financial charges | 65/66B | - | €5,380 | +€5,380 | |
| Recurring financial charges | 65 | - | €5,380 | +€5,380 | |
| Profit (loss) for the period before taxes | 9903 | €78,050 | -€126,560 | -€204,610 | |
| Income taxes | 67/77 | -€8 | - | +€8 | |
| Profit (loss) for the period | 9904 | €78,058 | -€126,560 | -€204,618 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,058 | -€126,560 | -€204,618 |
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 14 October 2026 via checked.be.