MENUISERIE 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.
MENUISERIE MICHEL
Largest movements
- Cash -€11,547
down €11,547 (-35.9%), from €32,203 to €20,656
mainly Receivables within one year (-€9,163) and Other debts (-€7,097)
- Receivables within one year +€9,163
up €9,163 (+10.4%), from €88,458 to €97,621
of which Trade receivables: +€5,983
- Profit (loss) carried forward +€10,269
up €10,269 (+15.0%), from €68,666 to €78,936
- Other debts -€7,097
no longer reported in 2025 (was €7,097)
- Trade debts -€5,760
no longer reported in 2025 (was €5,760)
- Staff costs +€14,562
up €14,562 (+18.1%), from €80,234 to €94,796
- Gross operating margin +€3,291
up €3,291 (+3.2%), from €103,528 to €106,819
- Taxes -€3,135
down €3,135 (-42.5%), from €7,375 to €4,240
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 | €177,986 | €173,882 | -€4,104 | -2.3% |
| Fixed assets | 21/28 | €5,497 | €3,799 | -€1,697 | -30.9% |
| Tangible fixed assets | 22/27 | €5,497 | €3,799 | -€1,697 | -30.9% |
| Furniture and vehicles | 24 | €1,888 | €783 | -€1,105 | -58.5% |
| Other tangible fixed assets | 26 | €3,609 | €3,016 | -€593 | -16.4% |
| Current assets | 29/58 | €172,490 | €170,082 | -€2,407 | -1.4% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €88,458 | €97,621 | +€9,163 | +10.4% |
| Trade receivables | 40 | €13,770 | €19,753 | +€5,983 | +43.5% |
| Other amounts receivable | 41 | €74,687 | €77,867 | +€3,180 | +4.3% |
| Cash at bank and in hand | 54/58 | €32,203 | €20,656 | -€11,547 | -35.9% |
| Deferred charges and accrued income | 490/1 | €1,828 | €1,805 | -€23 | -1.3% |
| Total equity and liabilities | 10/49 | €177,986 | €173,882 | -€4,104 | -2.3% |
| Equity | 10/15 | €144,118 | €154,387 | +€10,269 | +7.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €69,252 | €69,252 | = | 0.0% |
| 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 | €67,392 | €67,392 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,666 | €78,936 | +€10,269 | +15.0% |
| Amounts payable | 17/49 | €33,868 | €19,494 | -€14,374 | -42.4% |
| Amounts payable within one year | 42/48 | €33,868 | €19,494 | -€14,374 | -42.4% |
| Trade debts | 44 | €5,760 | - | -€5,760 | |
| Suppliers | 440/4 | €5,760 | - | -€5,760 | |
| Taxes, remuneration and social security | 45 | €21,011 | €19,494 | -€1,517 | -7.2% |
| Taxes | 450/3 | €14,155 | €16,012 | +€1,857 | +13.1% |
| Remuneration and social security | 454/9 | €6,856 | €3,482 | -€3,374 | -49.2% |
| Other amounts payable | 47/48 | €7,097 | - | -€7,097 | |
| Remuneration, social security and pensions | 62 | €80,234 | €94,796 | +€14,562 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,073 | €1,697 | -€376 | -18.1% |
| Other operating charges | 640/8 | €1,769 | €1,069 | -€700 | -39.6% |
| Gross operating margin | 9900 | €103,528 | €106,819 | +€3,291 | +3.2% |
| Operating profit (loss) | 9901 | €19,452 | €9,256 | -€10,196 | -52.4% |
| Financial income | 75/76B | €5,355 | €5,572 | +€218 | +4.1% |
| Recurring financial income | 75 | €5,355 | €5,572 | +€218 | +4.1% |
| Financial charges | 65/66B | €1,032 | €319 | -€713 | -69.1% |
| Recurring financial charges | 65 | €1,032 | €319 | -€713 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €23,775 | €14,510 | -€9,265 | -39.0% |
| Income taxes | 67/77 | €7,375 | €4,240 | -€3,135 | -42.5% |
| Profit (loss) for the period | 9904 | €16,400 | €10,269 | -€6,130 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,400 | €10,269 | -€6,130 | -37.4% |
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 10 October 2026 via checked.be.