PAPERSHOP MIEKE: 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.
PAPERSHOP MIEKE
Largest movements
- Cash +€54,050
up €54,050 (+116%), from €46,534 to €100,584
mainly Net result for the year (+€27,364) and Tax, wage and social debts (+€13,053)
- Current investments -€10,222
down €10,222 (-16.5%), from €61,791 to €51,569
- Stocks and contracts +€5,228
up €5,228 (+14.1%), from €37,040 to €42,268
- Tangible fixed assets -€5,111
down €5,111 (-36.9%), from €13,841 to €8,729
of which Furniture and vehicles: -€9,400
- Receivables within one year -€4,414
down €4,414 (-23.1%), from €19,150 to €14,736
of which Other amounts receivable: -€4,414
- Reserves +€27,364
up €27,364 (+19.2%), from €142,663 to €170,027
- Tax, wage and social debts +€13,053
up €13,053 (+118,877%), from €11 to €13,064
- Trade debts +€8,188
up €8,188 (+87.9%), from €9,310 to €17,498
- Current portion of long-term debt -€4,232
down €4,232 (-66.6%), from €6,353 to €2,121
- Gross operating margin +€25,314
up €25,314 (+93.0%), from €27,231 to €52,544
- Taxes +€11,621
up €11,621 (+402%), from €2,891 to €14,512
- Financial charges -€9,652
down €9,652 (-76.0%), from €12,695 to €3,043
- Financial income +€4,705
up €4,705 (+2,095%), from €225 to €4,930
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 | €179,358 | €221,609 | +€42,251 | +23.6% |
| Fixed assets | 21/28 | €14,043 | €10,669 | -€3,374 | -24.0% |
| Tangible fixed assets | 22/27 | €13,841 | €8,729 | -€5,111 | -36.9% |
| Plant, machinery and equipment | 23 | - | €4,289 | +€4,289 | |
| Furniture and vehicles | 24 | €13,841 | €4,441 | -€9,400 | -67.9% |
| Financial fixed assets | 28 | €203 | €1,940 | +€1,737 | +857% |
| Current assets | 29/58 | €165,315 | €210,940 | +€45,626 | +27.6% |
| Stocks and contracts in progress | 3 | €37,040 | €42,268 | +€5,228 | +14.1% |
| Stocks | 30/36 | €37,040 | €42,268 | +€5,228 | +14.1% |
| Amounts receivable within one year | 40/41 | €19,150 | €14,736 | -€4,414 | -23.1% |
| Trade receivables | 40 | €5,177 | €5,177 | = | 0.0% |
| Other amounts receivable | 41 | €13,973 | €9,559 | -€4,414 | -31.6% |
| Current investments | 50/53 | €61,791 | €51,569 | -€10,222 | -16.5% |
| Cash at bank and in hand | 54/58 | €46,534 | €100,584 | +€54,050 | +116% |
| Deferred charges and accrued income | 490/1 | €800 | €1,784 | +€984 | +123% |
| Total equity and liabilities | 10/49 | €179,358 | €221,609 | +€42,251 | +23.6% |
| Equity | 10/15 | €161,263 | €188,627 | +€27,364 | +17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €142,663 | €170,027 | +€27,364 | +19.2% |
| Distributable reserves | 133 | €142,663 | €170,027 | +€27,364 | +19.2% |
| Amounts payable | 17/49 | €18,095 | €32,982 | +€14,887 | +82.3% |
| Amounts payable after more than one year | 17 | €2,121 | €0 | -€2,121 | -100% |
| Financial debts | 170/4 | €2,121 | €0 | -€2,121 | -100% |
| Amounts payable within one year | 42/48 | €15,674 | €32,682 | +€17,008 | +109% |
| Current portion of amounts payable after more than one year | 42 | €6,353 | €2,121 | -€4,232 | -66.6% |
| Trade debts | 44 | €9,310 | €17,498 | +€8,188 | +87.9% |
| Suppliers | 440/4 | €9,310 | €17,498 | +€8,188 | +87.9% |
| Taxes, remuneration and social security | 45 | €11 | €13,064 | +€13,053 | +118,877% |
| Taxes | 450/3 | €11 | €13,064 | +€13,053 | +118,877% |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,910 | €11,122 | +€212 | +1.9% |
| Other operating charges | 640/8 | €1,542 | €1,433 | -€109 | -7.1% |
| Gross operating margin | 9900 | €27,231 | €52,544 | +€25,314 | +93.0% |
| Operating profit (loss) | 9901 | €14,779 | €39,990 | +€25,211 | +171% |
| Financial income | 75/76B | €225 | €4,930 | +€4,705 | +2,095% |
| Recurring financial income | 75 | €225 | €4,930 | +€4,705 | +2,095% |
| Financial charges | 65/66B | €12,695 | €3,043 | -€9,652 | -76.0% |
| Recurring financial charges | 65 | €12,695 | €3,043 | -€9,652 | -76.0% |
| Profit (loss) for the period before taxes | 9903 | €2,308 | €41,877 | +€39,568 | +1,714% |
| Income taxes | 67/77 | €2,891 | €14,512 | +€11,621 | +402% |
| Profit (loss) for the period | 9904 | -€583 | €27,364 | +€27,947 | |
| Profit (loss) for the period to be appropriated | 9905 | -€583 | €27,364 | +€27,947 |
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 30 October 2026 via checked.be.