BOUWONDERNEMING MICHIELS: 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.
BOUWONDERNEMING MICHIELS
Largest movements
- Receivables within one year -€25,932
down €25,932 (-66.0%), from €39,315 to €13,383
of which Trade receivables: -€25,900
- Cash -€6,929
down €6,929 (-4.7%), from €147,483 to €140,554
mainly Net result for the year (-€30,076) and Trade debts (-€2,433)
- Profit (loss) carried forward -€30,076
down €30,076 (-25.5%), from -€117,995 to -€148,070
- Other operating charges +€17,779
up €17,779 (+2,937%), from €605 to €18,384
- Gross operating margin -€12,042
down €12,042, from €721 to -€11,321
- Financial charges +€388
up €388 (+223%), from €174 to €561
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 | €600,744 | €568,235 | -€32,509 | -5.4% |
| Current assets | 29/58 | €600,744 | €568,235 | -€32,509 | -5.4% |
| Stocks and contracts in progress | 3 | €413,946 | €414,298 | +€352 | +0.1% |
| Stocks | 30/36 | €413,946 | €414,298 | +€352 | +0.1% |
| Amounts receivable within one year | 40/41 | €39,315 | €13,383 | -€25,932 | -66.0% |
| Trade receivables | 40 | €35,040 | €9,140 | -€25,900 | -73.9% |
| Other amounts receivable | 41 | €4,275 | €4,243 | -€32 | -0.8% |
| Cash at bank and in hand | 54/58 | €147,483 | €140,554 | -€6,929 | -4.7% |
| Total equity and liabilities | 10/49 | €600,744 | €568,235 | -€32,509 | -5.4% |
| Equity | 10/15 | €581,787 | €551,711 | -€30,076 | -5.2% |
| Contributions | 10/11 | €674,711 | €674,711 | = | 0.0% |
| Capital | 10 | €673,360 | €673,360 | = | 0.0% |
| Issued capital | 100 | €673,360 | €673,360 | = | 0.0% |
| Contributions outside capital | 11 | €1,351 | €1,351 | = | 0.0% |
| Share premium | 1100/10 | €1,351 | €1,351 | = | 0.0% |
| Reserves | 13 | €25,071 | €25,071 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,071 | €25,071 | = | 0.0% |
| Legal reserve | 130 | €25,071 | €25,071 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,995 | -€148,070 | -€30,076 | -25.5% |
| Amounts payable | 17/49 | €18,957 | €16,524 | -€2,433 | -12.8% |
| Amounts payable within one year | 42/48 | €18,957 | €16,524 | -€2,433 | -12.8% |
| Trade debts | 44 | €18,957 | €16,524 | -€2,433 | -12.8% |
| Suppliers | 440/4 | €18,957 | €16,524 | -€2,433 | -12.8% |
| Other operating charges | 640/8 | €605 | €18,384 | +€17,779 | +2,937% |
| Gross operating margin | 9900 | €721 | -€11,321 | -€12,042 | |
| Operating profit (loss) | 9901 | €116 | -€29,705 | -€29,821 | |
| Financial income | 75/76B | €204 | €191 | -€14 | -6.8% |
| Recurring financial income | 75 | €204 | €191 | -€14 | -6.8% |
| Financial charges | 65/66B | €174 | €561 | +€388 | +223% |
| Recurring financial charges | 65 | €174 | €561 | +€388 | +223% |
| Profit (loss) for the period before taxes | 9903 | €147 | -€30,076 | -€30,223 | |
| Profit (loss) for the period | 9904 | €147 | -€30,076 | -€30,223 | |
| Profit (loss) for the period to be appropriated | 9905 | €147 | -€30,076 | -€30,223 |
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 26 October 2026 via checked.be.