MICH-CONSTRUCT: 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.
MICH-CONSTRUCT
Largest movements
- Cash +€37,346
up €37,346, from €0 to €37,346
mainly Net result for the year (+€17,893) and Stocks and contracts (+€8,060)
- Stocks and contracts -€8,060
down €8,060 (-84.1%), from €9,584 to €1,524
of which Contracts in progress: -€7,500
- Receivables within one year -€6,298
down €6,298 (-26.1%), from €24,137 to €17,839
of which Trade receivables: -€7,397
- Tangible fixed assets -€4,009
down €4,009 (-34.8%), from €11,513 to €7,504
of which Furniture and vehicles: -€4,773
- Financial fixed assets +€1,300
new in 2025: €1,300
- Reserves +€17,893
up €17,893 (+135.0%), from €13,254 to €31,147
- Other debts +€4,039
up €4,039, from €0 to €4,039
- Debts after one year -€2,717
down €2,717 (-100.0%), from €2,717 to €0
- Tax, wage and social debts +€2,302
up €2,302 (+66.2%), from €3,480 to €5,782
- Trade debts +€1,682
up €1,682 (+8.8%), from €19,048 to €20,730
- Gross operating margin +€23,934
up €23,934 (+182.9%), from €13,087 to €37,021
- Taxes +€4,686
up €4,686 (+101.5%), from €4,616 to €9,302
- Depreciation +€2,219
up €2,219 (+53.5%), from €4,152 to €6,371
- Other operating charges +€693
up €693 (+46.5%), from €1,489 to €2,182
- Financial charges +€646
up €646 (+102.9%), from €628 to €1,273
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 | €45,637 | €66,869 | +€21,232 | +46.5% |
| Fixed assets | 21/28 | €11,513 | €8,804 | -€2,709 | -23.5% |
| Tangible fixed assets | 22/27 | €11,513 | €7,504 | -€4,009 | -34.8% |
| Plant, machinery and equipment | 23 | €1,559 | €2,322 | +€764 | +49.0% |
| Furniture and vehicles | 24 | €9,955 | €5,182 | -€4,773 | -47.9% |
| Financial fixed assets | 28 | - | €1,300 | +€1,300 | |
| Current assets | 29/58 | €34,124 | €58,065 | +€23,941 | +70.2% |
| Stocks and contracts in progress | 3 | €9,584 | €1,524 | -€8,060 | -84.1% |
| Stocks | 30/36 | €2,084 | €1,524 | -€560 | -26.9% |
| Contracts in progress | 37 | €7,500 | €0 | -€7,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €24,137 | €17,839 | -€6,298 | -26.1% |
| Trade receivables | 40 | €20,777 | €13,380 | -€7,397 | -35.6% |
| Other amounts receivable | 41 | €3,360 | €4,459 | +€1,099 | +32.7% |
| Cash at bank and in hand | 54/58 | €0 | €37,346 | +€37,346 | |
| Deferred charges and accrued income | 490/1 | €402 | €1,355 | +€953 | +237.0% |
| Total equity and liabilities | 10/49 | €45,637 | €66,869 | +€21,232 | +46.5% |
| Equity | 10/15 | €13,354 | €31,247 | +€17,893 | +134.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €13,254 | €31,147 | +€17,893 | +135.0% |
| Distributable reserves | 133 | €13,254 | €31,147 | +€17,893 | +135.0% |
| Amounts payable | 17/49 | €32,283 | €35,622 | +€3,339 | +10.3% |
| Amounts payable after more than one year | 17 | €2,717 | €0 | -€2,717 | -100.0% |
| Financial debts | 170/4 | €2,717 | €0 | -€2,717 | -100.0% |
| Amounts payable within one year | 42/48 | €29,566 | €35,622 | +€6,056 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €3,475 | €2,717 | -€757 | -21.8% |
| Financial debts | 43 | €3,563 | €2,353 | -€1,210 | -34.0% |
| Credit institutions | 430/8 | €3,563 | €2,353 | -€1,210 | -34.0% |
| Trade debts | 44 | €19,048 | €20,730 | +€1,682 | +8.8% |
| Suppliers | 440/4 | €19,048 | €20,730 | +€1,682 | +8.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,480 | €5,782 | +€2,302 | +66.2% |
| Taxes | 450/3 | €3,480 | €5,782 | +€2,302 | +66.2% |
| Other amounts payable | 47/48 | €0 | €4,039 | +€4,039 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,152 | €6,371 | +€2,219 | +53.5% |
| Other operating charges | 640/8 | €1,489 | €2,182 | +€693 | +46.5% |
| Gross operating margin | 9900 | €13,087 | €37,021 | +€23,934 | +182.9% |
| Operating profit (loss) | 9901 | €7,447 | €28,468 | +€21,022 | +282.3% |
| Financial charges | 65/66B | €628 | €1,273 | +€646 | +102.9% |
| Recurring financial charges | 65 | €628 | €1,273 | +€646 | +102.9% |
| Profit (loss) for the period before taxes | 9903 | €6,819 | €27,195 | +€20,376 | +298.8% |
| Income taxes | 67/77 | €4,616 | €9,302 | +€4,686 | +101.5% |
| Profit (loss) for the period | 9904 | €2,203 | €17,893 | +€15,691 | +712.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,203 | €17,893 | +€15,691 | +712.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.