MC MICHAEL: 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.
MC MICHAEL
Largest movements
- Cash -€16,137
down €16,137 (-41.7%), from €38,659 to €22,522
mainly Contributions, distributions and other (-€181,318) and Debts after one year (-€28,583)
- Tangible fixed assets -€8,877
down €8,877 (-1.8%), from €506,493 to €497,616
of which Land and buildings: -€11,919
- Reserves -€167,705
down €167,705 (-100.0%), from €167,718 to €13
- Other debts +€151,682
up €151,682 (+1279.2%), from €11,858 to €163,540
- Tax, wage and social debts +€30,139
up €30,139 (+1942.8%), from €1,551 to €31,690
- Debts after one year -€28,583
down €28,583 (-8.4%), from €339,990 to €311,407
- Contributions -€13,600
down €13,600 (-73.1%), from €18,600 to €5,000
- Gross operating margin -€52,290
down €52,290 (-68.4%), from €76,404 to €24,114
- Taxes -€10,196
down €10,196 (-91.9%), from €11,094 to €899
- Financial charges -€808
down €808 (-10.6%), from €7,632 to €6,824
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.
Cash bridge derived
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 | €569,206 | €542,898 | -€26,309 | -4.6% |
| Fixed assets | 21/28 | €506,493 | €497,616 | -€8,877 | -1.8% |
| Tangible fixed assets | 22/27 | €506,493 | €497,616 | -€8,877 | -1.8% |
| Land and buildings | 22 | €502,776 | €490,856 | -€11,919 | -2.4% |
| Plant, machinery and equipment | 23 | €3,718 | €6,760 | +€3,042 | +81.8% |
| Current assets | 29/58 | €62,713 | €45,281 | -€17,432 | -27.8% |
| Amounts receivable within one year | 40/41 | €21,726 | €20,408 | -€1,318 | -6.1% |
| Trade receivables | 40 | €17,779 | €6,285 | -€11,494 | -64.6% |
| Other amounts receivable | 41 | €3,947 | €14,123 | +€10,176 | +257.8% |
| Cash at bank and in hand | 54/58 | €38,659 | €22,522 | -€16,137 | -41.7% |
| Deferred charges and accrued income | 490/1 | €2,328 | €2,351 | +€23 | +1.0% |
| Total equity and liabilities | 10/49 | €569,206 | €542,898 | -€26,309 | -4.6% |
| Equity | 10/15 | €186,318 | €5,013 | -€181,305 | -97.3% |
| Contributions | 10/11 | €18,600 | €5,000 | -€13,600 | -73.1% |
| Reserves | 13 | €167,718 | €13 | -€167,705 | -100.0% |
| Distributable reserves | 133 | €167,718 | €13 | -€167,705 | -100.0% |
| Amounts payable | 17/49 | €382,888 | €537,885 | +€154,997 | +40.5% |
| Amounts payable after more than one year | 17 | €339,990 | €311,407 | -€28,583 | -8.4% |
| Financial debts | 170/4 | €339,990 | €311,407 | -€28,583 | -8.4% |
| Amounts payable within one year | 42/48 | €42,898 | €224,966 | +€182,069 | +424.4% |
| Current portion of amounts payable after more than one year | 42 | €28,146 | €28,583 | +€437 | +1.6% |
| Trade debts | 44 | €1,343 | €1,154 | -€189 | -14.1% |
| Suppliers | 440/4 | €1,343 | €1,154 | -€189 | -14.1% |
| Taxes, remuneration and social security | 45 | €1,551 | €31,690 | +€30,139 | +1942.8% |
| Taxes | 450/3 | €1,551 | €31,690 | +€30,139 | +1942.8% |
| Other amounts payable | 47/48 | €11,858 | €163,540 | +€151,682 | +1279.2% |
| Accrued charges and deferred income | 492/3 | - | €1,511 | +€1,511 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,571 | €14,199 | +€628 | +4.6% |
| Other operating charges | 640/8 | €2,480 | €2,251 | -€229 | -9.2% |
| Non-recurring operating charges | 66A | €1,441 | - | -€1,441 | |
| Gross operating margin | 9900 | €76,404 | €24,114 | -€52,290 | -68.4% |
| Operating profit (loss) | 9901 | €58,912 | €7,664 | -€51,248 | -87.0% |
| Financial income | 75/76B | €137 | €72 | -€66 | -47.7% |
| Recurring financial income | 75 | €137 | €72 | -€66 | -47.7% |
| Financial charges | 65/66B | €7,632 | €6,824 | -€808 | -10.6% |
| Recurring financial charges | 65 | €7,632 | €6,824 | -€808 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €51,417 | €912 | -€50,505 | -98.2% |
| Income taxes | 67/77 | €11,094 | €899 | -€10,196 | -91.9% |
| Profit (loss) for the period | 9904 | €40,323 | €13 | -€40,310 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,323 | €13 | -€40,310 | -100.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.