GARAGE MICHIELS: what changed
GARAGE MICHIELS
Largest movements
- Tangible fixed assets -€11,892
down €11,892 (-34.7%), from €34,260 to €22,368
of which Plant, machinery and equipment: -€7,098
- Receivables within one year -€9,603
down €9,603 (-46.7%), from €20,559 to €10,956
of which Trade receivables: -€7,712
- Cash -€962
down €962 (-15.4%), from €6,231 to €5,270
mainly Net result for the year (-€12,670) and Trade debts (-€12,067)
- Profit (loss) carried forward -€12,670
down €12,670 (-7.6%), from -€166,829 to -€179,499
- Trade debts -€12,067
down €12,067 (-20.7%), from €58,239 to €46,172
- Tax, wage and social debts +€4,507
up €4,507 (+1,598%), from €282 to €4,789
- Other debts -€2,222
down €2,222 (-6.6%), from €33,843 to €31,622
- Financial charges -€360
down €360 (-11.6%), from €3,101 to €2,741
- Gross operating margin +€338
up €338 (+13.7%), from €2,469 to €2,807
- Financial income +€253
up €253 (+977%), from €26 to €279
- Other operating charges -€64
down €64 (-6.4%), from €1,000 to €936
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,705 | €52,254 | -€22,452 | -30.1% |
| Fixed assets | 21/28 | €34,359 | €22,468 | -€11,892 | -34.6% |
| Tangible fixed assets | 22/27 | €34,260 | €22,368 | -€11,892 | -34.7% |
| Plant, machinery and equipment | 23 | €26,919 | €19,820 | -€7,098 | -26.4% |
| Furniture and vehicles | 24 | €7,341 | €2,548 | -€4,793 | -65.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €40,346 | €29,786 | -€10,560 | -26.2% |
| Stocks and contracts in progress | 3 | €13,318 | €13,318 | = | 0.0% |
| Stocks | 30/36 | €13,318 | €13,318 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,559 | €10,956 | -€9,603 | -46.7% |
| Trade receivables | 40 | €18,329 | €10,617 | -€7,712 | -42.1% |
| Other amounts receivable | 41 | €2,230 | €339 | -€1,892 | -84.8% |
| Cash at bank and in hand | 54/58 | €6,231 | €5,270 | -€962 | -15.4% |
| Deferred charges and accrued income | 490/1 | €238 | €243 | +€5 | +2.1% |
| Total equity and liabilities | 10/49 | €74,705 | €52,254 | -€22,452 | -30.1% |
| Equity | 10/15 | -€52,658 | -€65,328 | -€12,670 | -24.1% |
| Contributions | 10/11 | €103,592 | €103,592 | = | 0.0% |
| Reserves | 13 | €10,579 | €10,579 | = | 0.0% |
| Distributable reserves | 133 | €10,579 | €10,579 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,829 | -€179,499 | -€12,670 | -7.6% |
| Amounts payable | 17/49 | €127,364 | €117,582 | -€9,782 | -7.7% |
| Amounts payable within one year | 42/48 | €127,364 | €117,582 | -€9,782 | -7.7% |
| Financial debts | 43 | €35,000 | €35,000 | = | 0.0% |
| Credit institutions | 430/8 | €35,000 | €35,000 | = | 0.0% |
| Trade debts | 44 | €58,239 | €46,172 | -€12,067 | -20.7% |
| Suppliers | 440/4 | €58,239 | €46,172 | -€12,067 | -20.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €282 | €4,789 | +€4,507 | +1,598% |
| Taxes | 450/3 | €282 | €4,789 | +€4,507 | +1,598% |
| Other amounts payable | 47/48 | €33,843 | €31,622 | -€2,222 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,899 | €11,892 | -€8 | -0.1% |
| Other operating charges | 640/8 | €1,000 | €936 | -€64 | -6.4% |
| Gross operating margin | 9900 | €2,469 | €2,807 | +€338 | +13.7% |
| Operating profit (loss) | 9901 | -€10,430 | -€10,021 | +€410 | +3.9% |
| Financial income | 75/76B | €26 | €279 | +€253 | +977% |
| Recurring financial income | 75 | €26 | €279 | +€253 | +977% |
| Financial charges | 65/66B | €3,101 | €2,741 | -€360 | -11.6% |
| Recurring financial charges | 65 | €3,101 | €2,741 | -€360 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,505 | -€12,483 | +€1,022 | +7.6% |
| Income taxes | 67/77 | €191 | €187 | -€4 | -2.0% |
| Profit (loss) for the period | 9904 | -€13,696 | -€12,670 | +€1,026 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,696 | -€12,670 | +€1,026 | +7.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.