LaMichaux: what changed
Two fiscal 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.
LaMichaux
Largest movements
- Receivables within one year +€18,554
up €18,554 (+235.2%), from €7,890 to €26,444
of which Trade receivables: +€20,413
- Stocks and contracts -€6,708
down €6,708 (-11.7%), from €57,403 to €50,695
- Cash +€5,160
up €5,160 (+265.4%), from €1,945 to €7,105
- Tangible fixed assets -€953
down €953 (-61.6%), from €1,547 to €594
- Profit (loss) carried forward -€75,983
down €75,983 (-48.1%), from -€157,949 to -€233,932
- Debts after one year +€41,500
up €41,500 (+29.7%), from €139,500 to €181,000
- Other debts +€40,424
up €40,424 (+3923.8%), from €1,030 to €41,454
- Trade debts +€8,578
up €8,578 (+18.2%), from €47,073 to €55,651
- Short-term financial debts +€1,442
up €1,442 (+834.8%), from €173 to €1,615
- Gross operating margin +€22,595
up €22,595 (+36.8%), from -€61,415 to -€38,819
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,105 | €84,838 | +€15,733 | +22.8% |
| Fixed assets | 21/28 | €1,547 | €594 | -€953 | -61.6% |
| Tangible fixed assets | 22/27 | €1,547 | €594 | -€953 | -61.6% |
| Furniture and vehicles | 24 | €1,547 | €594 | -€953 | -61.6% |
| Current assets | 29/58 | €67,559 | €84,244 | +€16,685 | +24.7% |
| Stocks and contracts in progress | 3 | €57,403 | €50,695 | -€6,708 | -11.7% |
| Stocks | 30/36 | €57,403 | €50,695 | -€6,708 | -11.7% |
| Amounts receivable within one year | 40/41 | €7,890 | €26,444 | +€18,554 | +235.2% |
| Trade receivables | 40 | €4,327 | €24,740 | +€20,413 | +471.8% |
| Other amounts receivable | 41 | €3,563 | €1,704 | -€1,859 | -52.2% |
| Cash at bank and in hand | 54/58 | €1,945 | €7,105 | +€5,160 | +265.4% |
| Deferred charges and accrued income | 490/1 | €321 | €0 | -€321 | -100.0% |
| Total equity and liabilities | 10/49 | €69,105 | €84,838 | +€15,733 | +22.8% |
| Equity | 10/15 | -€124,449 | -€200,432 | -€75,983 | -61.1% |
| Contributions | 10/11 | €33,500 | €33,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,949 | -€233,932 | -€75,983 | -48.1% |
| Amounts payable | 17/49 | €193,554 | €285,270 | +€91,715 | +47.4% |
| Amounts payable after more than one year | 17 | €139,500 | €181,000 | +€41,500 | +29.7% |
| Financial debts | 170/4 | €139,500 | €181,000 | +€41,500 | +29.7% |
| Amounts payable within one year | 42/48 | €54,054 | €104,270 | +€50,215 | +92.9% |
| Financial debts | 43 | €173 | €1,615 | +€1,442 | +834.8% |
| Credit institutions | 430/8 | €173 | €1,615 | +€1,442 | +834.8% |
| Trade debts | 44 | €47,073 | €55,651 | +€8,578 | +18.2% |
| Suppliers | 440/4 | €47,073 | €55,651 | +€8,578 | +18.2% |
| Advances received on contracts in progress | 46 | - | €330 | +€330 | |
| Taxes, remuneration and social security | 45 | €5,778 | €5,220 | -€558 | -9.7% |
| Taxes | 450/3 | €5,778 | €5,220 | -€558 | -9.7% |
| Other amounts payable | 47/48 | €1,030 | €41,454 | +€40,424 | +3923.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €620 | €370 | -€250 | -40.4% |
| Other operating charges | 640/8 | €471 | €520 | +€48 | +10.3% |
| Gross operating margin | 9900 | -€61,415 | -€38,819 | +€22,595 | +36.8% |
| Operating profit (loss) | 9901 | -€62,506 | -€39,709 | +€22,797 | +36.5% |
| Financial income | 75/76B | €511 | €887 | +€376 | +73.7% |
| Recurring financial income | 75 | €511 | €887 | +€376 | +73.7% |
| Financial charges | 65/66B | €1,017 | €837 | -€180 | -17.7% |
| Recurring financial charges | 65 | €1,017 | €837 | -€180 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | -€63,013 | -€39,659 | +€23,353 | +37.1% |
| Profit (loss) for the period | 9904 | -€63,013 | -€39,659 | +€23,353 | +37.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,013 | -€39,659 | +€23,353 | +37.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.