GARAGE MICHIELS: what changed
GARAGE MICHIELS
Largest movements
- Stocks and contracts +€215,908
up €215,908 (+57.4%), from €376,006 to €591,914
- Receivables within one year +€104,755
up €104,755 (+796%), from €13,164 to €117,919
of which Other amounts receivable: +€57,000
- Cash +€15,593
up €15,593 (+65.0%), from €23,981 to €39,574
mainly Trade debts (+€303,365) and Debts after one year (+€50,000)
- Tangible fixed assets -€12,154
down €12,154 (-32.7%), from €37,177 to €25,023
of which Furniture and vehicles: -€7,486
- Trade debts +€303,365
up €303,365 (+659%), from €46,069 to €349,434
- Debts after one year +€50,000
up €50,000 (+12.5%), from €400,000 to €450,000
- Profit (loss) carried forward -€24,477
down €24,477 (-31.2%), from -€78,346 to -€102,823
- Gross operating margin -€48,438
down €48,438 (-32.6%), from €148,566 to €100,128
- Staff costs -€12,100
down €12,100 (-10.0%), from €121,523 to €109,423
- Financial income +€2,683
up €2,683 (+1,220%), from €220 to €2,903
of which Financial income: +€2,683
- Depreciation +€1,587
up €1,587 (+15.0%), from €10,567 to €12,154
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 | €465,202 | €789,304 | +€324,102 | +69.7% |
| Fixed assets | 21/28 | €52,051 | €39,897 | -€12,154 | -23.4% |
| Tangible fixed assets | 22/27 | €37,177 | €25,023 | -€12,154 | -32.7% |
| Plant, machinery and equipment | 23 | €15,779 | €11,111 | -€4,668 | -29.6% |
| Furniture and vehicles | 24 | €21,398 | €13,912 | -€7,486 | -35.0% |
| Financial fixed assets | 28 | €14,874 | €14,874 | = | 0.0% |
| Current assets | 29/58 | €413,151 | €749,407 | +€336,256 | +81.4% |
| Stocks and contracts in progress | 3 | €376,006 | €591,914 | +€215,908 | +57.4% |
| Stocks | 30/36 | €376,006 | €591,914 | +€215,908 | +57.4% |
| Amounts receivable within one year | 40/41 | €13,164 | €117,919 | +€104,755 | +796% |
| Trade receivables | 40 | €5,569 | €53,324 | +€47,755 | +858% |
| Other amounts receivable | 41 | €7,595 | €64,595 | +€57,000 | +750% |
| Cash at bank and in hand | 54/58 | €23,981 | €39,574 | +€15,593 | +65.0% |
| Total equity and liabilities | 10/49 | €465,202 | €789,304 | +€324,102 | +69.7% |
| Equity | 10/15 | €5,289 | -€19,188 | -€24,477 | |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €9,267 | €9,267 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,267 | €7,437 | -€1,830 | -19.7% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,830 | - | -€1,830 | |
| Distributable reserves | 133 | - | €1,830 | +€1,830 | |
| Profit (loss) carried forward | 14 | -€78,346 | -€102,823 | -€24,477 | -31.2% |
| Amounts payable | 17/49 | €459,913 | €808,492 | +€348,579 | +75.8% |
| Amounts payable after more than one year | 17 | €400,000 | €450,000 | +€50,000 | +12.5% |
| Financial debts | 170/4 | €400,000 | €450,000 | +€50,000 | +12.5% |
| Amounts payable within one year | 42/48 | €59,913 | €358,492 | +€298,579 | +498% |
| Trade debts | 44 | €46,069 | €349,434 | +€303,365 | +659% |
| Suppliers | 440/4 | €46,069 | €349,434 | +€303,365 | +659% |
| Taxes, remuneration and social security | 45 | €13,844 | €9,058 | -€4,786 | -34.6% |
| Taxes | 450/3 | €5,096 | - | -€5,096 | |
| Remuneration and social security | 454/9 | €8,748 | €9,058 | +€310 | +3.5% |
| Remuneration, social security and pensions | 62 | €121,523 | €109,423 | -€12,100 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,567 | €12,154 | +€1,587 | +15.0% |
| Other operating charges | 640/8 | €4,270 | €4,947 | +€677 | +15.9% |
| Gross operating margin | 9900 | €148,566 | €100,128 | -€48,438 | -32.6% |
| Operating profit (loss) | 9901 | €12,206 | -€26,396 | -€38,602 | |
| Financial income | 75/76B | €220 | €2,903 | +€2,683 | +1,220% |
| Recurring financial income | 75 | €220 | €2,903 | +€2,683 | +1,220% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,004 | €984 | -€20 | -2.0% |
| Recurring financial charges | 65 | €1,004 | €984 | -€20 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €11,422 | -€24,477 | -€35,899 | |
| Profit (loss) for the period | 9904 | €11,422 | -€24,477 | -€35,899 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,422 | -€24,477 | -€35,899 |
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 5 November 2026 via checked.be.