FLEURS 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.
FLEURS MICHEL
Largest movements
- Current investments -€40,000
down €40,000 (-100%), from €40,000 to €0
- Tangible fixed assets +€31,200
up €31,200 (+7,543%), from €414 to €31,614
- Receivables after one year -€30,857
down €30,857 (-100%), from €30,857 to €0
- Receivables within one year +€7,072
up €7,072 (+389%), from €1,816 to €8,887
of which Other amounts receivable: +€7,056
- Cash -€1,243
down €1,243 (-74.4%), from €1,672 to €429
mainly Investment in fixed assets (net) (-€36,488) and Other debts (-€24,206)
- Other debts -€24,206
down €24,206 (-78.5%), from €30,850 to €6,644
- Reserves -€6,644
down €6,644 (-78.1%), from €8,504 to €1,860
of which Distributable reserves: -€6,644
- Profit (loss) carried forward -€3,635
down €3,635 (-18.7%), from €19,403 to €15,768
- Trade debts +€1,210
up €1,210 (+877%), from €138 to €1,348
- Depreciation +€4,998
up €4,998 (+1,728%), from €289 to €5,288
- Gross operating margin +€4,043
up €4,043, from -€3,349 to €694
- Financial income +€1,403
up €1,403 (+304%), from €462 to €1,864
- Financial charges +€168
up €168 (+79.7%), from €210 to €378
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 | €75,630 | €41,820 | -€33,809 | -44.7% |
| Fixed assets | 21/28 | €664 | €31,864 | +€31,200 | +4,701% |
| Tangible fixed assets | 22/27 | €414 | €31,614 | +€31,200 | +7,543% |
| Furniture and vehicles | 24 | €414 | €31,614 | +€31,200 | +7,543% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €74,966 | €9,956 | -€65,010 | -86.7% |
| Amounts receivable after more than one year | 29 | €30,857 | €0 | -€30,857 | -100% |
| Other amounts receivable | 291 | €30,857 | €0 | -€30,857 | -100% |
| Amounts receivable within one year | 40/41 | €1,816 | €8,887 | +€7,072 | +389% |
| Trade receivables | 40 | €1,815 | €1,830 | +€15 | +0.9% |
| Other amounts receivable | 41 | €1 | €7,057 | +€7,056 | +830,135% |
| Current investments | 50/53 | €40,000 | €0 | -€40,000 | -100% |
| Cash at bank and in hand | 54/58 | €1,672 | €429 | -€1,243 | -74.4% |
| Deferred charges and accrued income | 490/1 | €621 | €640 | +€19 | +3.0% |
| Total equity and liabilities | 10/49 | €75,630 | €41,820 | -€33,809 | -44.7% |
| Equity | 10/15 | €44,028 | €33,749 | -€10,279 | -23.3% |
| Contributions | 10/11 | €16,121 | €16,121 | = | 0.0% |
| Reserves | 13 | €8,504 | €1,860 | -€6,644 | -78.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €6,644 | €0 | -€6,644 | -100% |
| Profit (loss) carried forward | 14 | €19,403 | €15,768 | -€3,635 | -18.7% |
| Amounts payable | 17/49 | €31,602 | €8,072 | -€23,531 | -74.5% |
| Amounts payable within one year | 42/48 | €31,602 | €8,072 | -€23,531 | -74.5% |
| Trade debts | 44 | €138 | €1,348 | +€1,210 | +877% |
| Suppliers | 440/4 | €138 | €1,348 | +€1,210 | +877% |
| Taxes, remuneration and social security | 45 | €614 | €80 | -€535 | -87.1% |
| Taxes | 450/3 | €614 | €80 | -€535 | -87.1% |
| Other amounts payable | 47/48 | €30,850 | €6,644 | -€24,206 | -78.5% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289 | €5,288 | +€4,998 | +1,728% |
| Other operating charges | 640/8 | €515 | €527 | +€12 | +2.4% |
| Gross operating margin | 9900 | -€3,349 | €694 | +€4,043 | |
| Operating profit (loss) | 9901 | -€4,153 | -€5,121 | -€968 | -23.3% |
| Financial income | 75/76B | €462 | €1,864 | +€1,403 | +304% |
| Recurring financial income | 75 | €462 | €1,864 | +€1,403 | +304% |
| Financial charges | 65/66B | €210 | €378 | +€168 | +79.7% |
| Recurring financial charges | 65 | €210 | €378 | +€168 | +79.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,901 | -€3,634 | +€268 | +6.9% |
| Income taxes | 67/77 | €0 | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€3,901 | -€3,635 | +€267 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,901 | -€3,635 | +€267 | +6.8% |
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 26 October 2026 via checked.be.