BIJOUTERIE MICHEL: 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.
BIJOUTERIE MICHEL
Largest movements
- Cash +€1.4m
up €1.4m (+134.4%), from €1.1m to €2.5m
mainly Stocks and contracts (+€1.3m) and Net result for the year (+€581,962)
- Stocks and contracts -€1.3m
down €1.3m (-50.3%), from €2.5m to €1.2m
- Reserves +€581,962
up €581,962 (+14.3%), from €4.1m to €4.7m
of which Distributable reserves: +€581,962
- Trade debts -€310,856
down €310,856 (-75.9%), from €409,482 to €98,626
- Current portion of long-term debt -€58,780
no longer reported in 2025 (was €58,780)
- Gross operating margin -€333,691
down €333,691 (-23.7%), from €1.4m to €1.1m
- Taxes -€87,256
down €87,256 (-24.5%), from €356,069 to €268,813
- Staff costs -€58,815
down €58,815 (-35.8%), from €164,197 to €105,382
- Financial charges +€17,585
up €17,585 (+110.9%), from €15,856 to €33,440
- Financial income +€14,386
up €14,386 (+227.5%), from €6,323 to €20,709
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 | €4,657,079 | €4,831,092 | +€174,013 | +3.7% |
| Fixed assets | 21/28 | €211,392 | €205,905 | -€5,487 | -2.6% |
| Tangible fixed assets | 22/27 | €211,272 | €205,785 | -€5,487 | -2.6% |
| Furniture and vehicles | 24 | €26,815 | €19,889 | -€6,926 | -25.8% |
| Other tangible fixed assets | 26 | €184,457 | €185,896 | +€1,439 | +0.8% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €4,445,687 | €4,625,187 | +€179,500 | +4.0% |
| Amounts receivable after more than one year | 29 | €765,344 | €749,769 | -€15,575 | -2.0% |
| Other amounts receivable | 291 | €765,344 | €749,769 | -€15,575 | -2.0% |
| Stocks and contracts in progress | 3 | €2,505,681 | €1,245,491 | -€1.3m | -50.3% |
| Stocks | 30/36 | €2,505,681 | €1,245,491 | -€1.3m | -50.3% |
| Amounts receivable within one year | 40/41 | €82,584 | €106,419 | +€23,835 | +28.9% |
| Trade receivables | 40 | €82,584 | €23,151 | -€59,433 | -72.0% |
| Other amounts receivable | 41 | - | €83,268 | +€83,268 | |
| Cash at bank and in hand | 54/58 | €1,065,282 | €2,497,192 | +€1.4m | +134.4% |
| Deferred charges and accrued income | 490/1 | €26,795 | €26,316 | -€479 | -1.8% |
| Total equity and liabilities | 10/49 | €4,657,079 | €4,831,092 | +€174,013 | +3.7% |
| Equity | 10/15 | €4,136,780 | €4,718,742 | +€581,962 | +14.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,074,780 | €4,656,742 | +€581,962 | +14.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €4,068,580 | €4,650,542 | +€581,962 | +14.3% |
| Amounts payable | 17/49 | €520,298 | €112,350 | -€407,948 | -78.4% |
| Amounts payable within one year | 42/48 | €520,298 | €112,350 | -€407,948 | -78.4% |
| Current portion of amounts payable after more than one year | 42 | €58,780 | - | -€58,780 | |
| Trade debts | 44 | €409,482 | €98,626 | -€310,856 | -75.9% |
| Suppliers | 440/4 | €409,482 | €98,626 | -€310,856 | -75.9% |
| Taxes, remuneration and social security | 45 | €48,150 | €8,028 | -€40,122 | -83.3% |
| Taxes | 450/3 | €38,745 | - | -€38,745 | |
| Remuneration and social security | 454/9 | €9,406 | €8,028 | -€1,378 | -14.6% |
| Other amounts payable | 47/48 | €3,886 | €5,696 | +€1,810 | +46.6% |
| Remuneration, social security and pensions | 62 | €164,197 | €105,382 | -€58,815 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,754 | €100,404 | -€4,351 | -4.2% |
| Other operating charges | 640/8 | €2,117 | €2,390 | +€274 | +12.9% |
| Gross operating margin | 9900 | €1,405,373 | €1,071,682 | -€333,691 | -23.7% |
| Operating profit (loss) | 9901 | €1,134,305 | €863,505 | -€270,800 | -23.9% |
| Financial income | 75/76B | €6,323 | €20,709 | +€14,386 | +227.5% |
| Recurring financial income | 75 | €6,323 | €20,709 | +€14,386 | +227.5% |
| Financial charges | 65/66B | €15,856 | €33,440 | +€17,585 | +110.9% |
| Recurring financial charges | 65 | €15,856 | €33,440 | +€17,585 | +110.9% |
| Profit (loss) for the period before taxes | 9903 | €1,124,772 | €850,774 | -€273,998 | -24.4% |
| Income taxes | 67/77 | €356,069 | €268,813 | -€87,256 | -24.5% |
| Profit (loss) for the period | 9904 | €768,703 | €581,962 | -€186,742 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €768,703 | €581,962 | -€186,742 | -24.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.