MICHAEL & GISO: 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.
MICHAEL & GISO
Largest movements
- Receivables within one year -€102,000
down €102,000 (-100.0%), from €102,000 to €0
- Tangible fixed assets -€4,103
down €4,103 (-11.6%), from €35,349 to €31,246
of which Plant, machinery and equipment: -€34,680
- Cash -€1,904
down €1,904 (-61.5%), from €3,097 to €1,193
mainly Trade debts (-€89,016) and Net result for the year (-€19,016)
- Trade debts -€89,016
down €89,016 (-80.9%), from €110,016 to €21,000
- Profit (loss) carried forward -€19,016
down €19,016 (-36.8%), from -€51,607 to -€70,623
- Other debts +€5,584
up €5,584 (+7.6%), from €73,056 to €78,640
- Accrued charges and deferred income -€5,009
no longer reported in 2024 (was €5,009)
- Gross operating margin +€19,859
up €19,859 (+57.6%), from -€34,489 to -€14,630
- Financial charges -€1,475
down €1,475 (-68.9%), from €2,142 to €667
- Other operating charges -€407
down €407 (-93.9%), from €434 to €27
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,021 | €40,014 | -€108,007 | -73.0% |
| Fixed assets | 21/28 | €37,349 | €33,246 | -€4,103 | -11.0% |
| Tangible fixed assets | 22/27 | €35,349 | €31,246 | -€4,103 | -11.6% |
| Plant, machinery and equipment | 23 | €35,349 | €669 | -€34,680 | -98.1% |
| Furniture and vehicles | 24 | - | €30,577 | +€30,577 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €110,672 | €6,768 | -€103,904 | -93.9% |
| Stocks and contracts in progress | 3 | €5,575 | €5,575 | = | 0.0% |
| Stocks | 30/36 | €5,575 | €5,575 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €102,000 | €0 | -€102,000 | -100.0% |
| Trade receivables | 40 | €102,000 | €0 | -€102,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,097 | €1,193 | -€1,904 | -61.5% |
| Total equity and liabilities | 10/49 | €148,021 | €40,014 | -€108,007 | -73.0% |
| Equity | 10/15 | -€46,607 | -€65,623 | -€19,016 | -40.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,607 | -€70,623 | -€19,016 | -36.8% |
| Amounts payable | 17/49 | €194,628 | €105,637 | -€88,991 | -45.7% |
| Amounts payable within one year | 42/48 | €189,619 | €105,637 | -€83,982 | -44.3% |
| Trade debts | 44 | €110,016 | €21,000 | -€89,016 | -80.9% |
| Suppliers | 440/4 | €110,016 | €21,000 | -€89,016 | -80.9% |
| Taxes, remuneration and social security | 45 | €6,547 | €5,997 | -€550 | -8.4% |
| Taxes | 450/3 | €6,547 | €5,997 | -€550 | -8.4% |
| Other amounts payable | 47/48 | €73,056 | €78,640 | +€5,584 | +7.6% |
| Accrued charges and deferred income | 492/3 | €5,009 | - | -€5,009 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,881 | €4,103 | +€222 | +5.7% |
| Other operating charges | 640/8 | €434 | €27 | -€407 | -93.9% |
| Gross operating margin | 9900 | -€34,489 | -€14,630 | +€19,859 | +57.6% |
| Operating profit (loss) | 9901 | -€38,804 | -€18,759 | +€20,045 | +51.7% |
| Financial income | 75/76B | €340 | €410 | +€70 | +20.6% |
| Recurring financial income | 75 | €340 | €410 | +€70 | +20.6% |
| Financial charges | 65/66B | €2,142 | €667 | -€1,475 | -68.9% |
| Recurring financial charges | 65 | €2,142 | €667 | -€1,475 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | -€40,606 | -€19,016 | +€21,590 | +53.2% |
| Profit (loss) for the period | 9904 | -€40,606 | -€19,016 | +€21,590 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,606 | -€19,016 | +€21,590 | +53.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.