Paul VD Mierop: 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.
Paul VD Mierop
Largest movements
- Receivables after one year -€1.3m
down €1.3m (-66.7%), from €2.0m to €664,533
- Receivables within one year +€531,395
up €531,395 (+95.1%), from €558,620 to €1.1m
of which Other amounts receivable: +€500,034
- Cash +€236,352
up €236,352 (+733%), from €32,223 to €268,575
mainly Receivables after one year (+€1.3m) and Net result for the year (+€124,193)
- Deferred charges and accrued income +€57,857
new in 2025: €57,857
- Current investments +€54,000
new in 2025: €54,000
- Other debts -€623,706
down €623,706 (-77.8%), from €801,275 to €177,569
- Reserves +€124,193
up €124,193 (+7.7%), from €1.6m to €1.7m
- Tax, wage and social debts +€26,880
up €26,880 (+16.6%), from €161,626 to €188,506
- Financial income -€2.0m
down €2.0m (-96.2%), from €2.1m to €80,209
of which Non-recurring financial income: -€2.1m
- Taxes -€148,903
down €148,903 (-92.1%), from €161,626 to €12,723
- Financial charges -€126,374
down €126,374 (-95.4%), from €132,435 to €6,060
- Gross operating margin +€63,885
new in 2025: €63,885
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 | €2,589,318 | €2,140,236 | -€449,082 | -17.3% |
| Fixed assets | 21/28 | €0 | €5,256 | +€5,256 | |
| Tangible fixed assets | 22/27 | - | €4,256 | +€4,256 | |
| Assets under construction and advance payments | 27 | - | €4,256 | +€4,256 | |
| Financial fixed assets | 28 | €0 | €1,000 | +€1,000 | |
| Current assets | 29/58 | €2,589,318 | €2,134,980 | -€454,338 | -17.5% |
| Amounts receivable after more than one year | 29 | €1,998,475 | €664,533 | -€1.3m | -66.7% |
| Other amounts receivable | 291 | €1,998,475 | €664,533 | -€1.3m | -66.7% |
| Amounts receivable within one year | 40/41 | €558,620 | €1,090,015 | +€531,395 | +95.1% |
| Trade receivables | 40 | - | €31,360 | +€31,360 | |
| Other amounts receivable | 41 | €558,620 | €1,058,654 | +€500,034 | +89.5% |
| Current investments | 50/53 | - | €54,000 | +€54,000 | |
| Cash at bank and in hand | 54/58 | €32,223 | €268,575 | +€236,352 | +733% |
| Deferred charges and accrued income | 490/1 | - | €57,857 | +€57,857 | |
| Total equity and liabilities | 10/49 | €2,589,318 | €2,140,236 | -€449,082 | -17.3% |
| Equity | 10/15 | €1,626,259 | €1,750,452 | +€124,193 | +7.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,616,259 | €1,740,452 | +€124,193 | +7.7% |
| Distributable reserves | 133 | €1,616,259 | €1,740,452 | +€124,193 | +7.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €963,058 | €389,784 | -€573,274 | -59.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €962,901 | €389,784 | -€573,117 | -59.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | - | €23,709 | +€23,709 | |
| Suppliers | 440/4 | - | €23,709 | +€23,709 | |
| Taxes, remuneration and social security | 45 | €161,626 | €188,506 | +€26,880 | +16.6% |
| Taxes | 450/3 | €161,626 | €188,506 | +€26,880 | +16.6% |
| Other amounts payable | 47/48 | €801,275 | €177,569 | -€623,706 | -77.8% |
| Accrued charges and deferred income | 492/3 | €157 | €0 | -€157 | -100% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | - | €63,885 | +€63,885 | |
| Operating profit (loss) | 9901 | -€1,086 | €62,767 | +€63,852 | |
| Financial income | 75/76B | €2,105,538 | €80,209 | -€2.0m | -96.2% |
| Recurring financial income | 75 | €2,105,538 | €80,209 | -€2.0m | -96.2% |
| Non-recurring financial income | 76B | €2,105,538 | €0 | -€2.1m | -100% |
| Financial charges | 65/66B | €132,435 | €6,060 | -€126,374 | -95.4% |
| Recurring financial charges | 65 | €132,435 | €6,060 | -€126,374 | -95.4% |
| Profit (loss) for the period before taxes | 9903 | €1,972,017 | €136,916 | -€1.8m | -93.1% |
| Income taxes | 67/77 | €161,626 | €12,723 | -€148,903 | -92.1% |
| Profit (loss) for the period | 9904 | €1,810,391 | €124,193 | -€1.7m | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,810,391 | €124,193 | -€1.7m | -93.1% |
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.