B&B Michiels Services: 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.
B&B Michiels Services
Largest movements
- Tangible fixed assets -€83,922
down €83,922 (-7.3%), from €1.2m to €1.1m
of which Land and buildings: -€67,873
- Debts after one year -€57,722
down €57,722 (-5.0%), from €1.2m to €1.1m
of which Financial debts: -€57,722
- Profit (loss) carried forward -€52,109
down €52,109 (-21.4%), from -€243,665 to -€295,774
- Other debts +€34,077
up €34,077 (+19.2%), from €177,533 to €211,610
- Staff costs -€18,286
down €18,286 (-100%), from €18,286 to €0
- Gross operating margin +€5,959
up €5,959 (+12.1%), from €49,314 to €55,273
- Depreciation -€3,337
down €3,337 (-3.8%), from €87,258 to €83,922
- Financial charges -€1,510
down €1,510 (-7.9%), from €19,178 to €17,668
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 | €1,167,427 | €1,083,466 | -€83,960 | -7.2% |
| Fixed assets | 21/28 | €1,155,026 | €1,071,104 | -€83,922 | -7.3% |
| Tangible fixed assets | 22/27 | €1,155,026 | €1,071,104 | -€83,922 | -7.3% |
| Land and buildings | 22 | €1,097,502 | €1,029,629 | -€67,873 | -6.2% |
| Plant, machinery and equipment | 23 | €45,075 | €34,763 | -€10,313 | -22.9% |
| Furniture and vehicles | 24 | €9,594 | €4,634 | -€4,960 | -51.7% |
| Other tangible fixed assets | 26 | €2,854 | €2,078 | -€776 | -27.2% |
| Current assets | 29/58 | €12,401 | €12,362 | -€39 | -0.3% |
| Stocks and contracts in progress | 3 | €2,346 | €2,721 | +€375 | +16.0% |
| Stocks | 30/36 | €2,346 | €2,721 | +€375 | +16.0% |
| Amounts receivable within one year | 40/41 | €1,449 | €2,593 | +€1,144 | +78.9% |
| Trade receivables | 40 | €140 | €0 | -€140 | -100% |
| Other amounts receivable | 41 | €1,309 | €2,593 | +€1,284 | +98.0% |
| Cash at bank and in hand | 54/58 | €8,606 | €7,049 | -€1,557 | -18.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,167,427 | €1,083,466 | -€83,960 | -7.2% |
| Equity | 10/15 | -€233,665 | -€285,774 | -€52,109 | -22.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€243,665 | -€295,774 | -€52,109 | -21.4% |
| Amounts payable | 17/49 | €1,401,092 | €1,369,241 | -€31,851 | -2.3% |
| Amounts payable after more than one year | 17 | €1,153,635 | €1,095,913 | -€57,722 | -5.0% |
| Financial debts | 170/4 | €972,135 | €914,413 | -€57,722 | -5.9% |
| Other amounts payable | 178/9 | €181,500 | €181,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €247,457 | €273,328 | +€25,870 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €58,908 | €57,722 | -€1,187 | -2.0% |
| Trade debts | 44 | €3,559 | €821 | -€2,737 | -76.9% |
| Suppliers | 440/4 | €3,559 | €821 | -€2,737 | -76.9% |
| Advances received on contracts in progress | 46 | €1,589 | €500 | -€1,089 | -68.5% |
| Taxes, remuneration and social security | 45 | €5,868 | €2,675 | -€3,193 | -54.4% |
| Taxes | 450/3 | €5,868 | €2,675 | -€3,193 | -54.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €177,533 | €211,610 | +€34,077 | +19.2% |
| Remuneration, social security and pensions | 62 | €18,286 | €0 | -€18,286 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,258 | €83,922 | -€3,337 | -3.8% |
| Other operating charges | 640/8 | €5,799 | €5,793 | -€6 | -0.1% |
| Non-recurring operating charges | 66A | €1 | €0 | -€1 | -100% |
| Gross operating margin | 9900 | €49,314 | €55,273 | +€5,959 | +12.1% |
| Operating profit (loss) | 9901 | -€62,031 | -€34,442 | +€27,589 | +44.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €19,178 | €17,668 | -€1,510 | -7.9% |
| Recurring financial charges | 65 | €19,178 | €17,668 | -€1,510 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€81,208 | -€52,109 | +€29,099 | +35.8% |
| Profit (loss) for the period | 9904 | -€81,208 | -€52,109 | +€29,099 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,208 | -€52,109 | +€29,099 | +35.8% |
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 25 October 2026 via checked.be.