Michael Lux: 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 Lux
Largest movements
- Cash +€26,061
up €26,061 (+147.0%), from €17,727 to €43,788
mainly Net result for the year (+€19,424) and Depreciation (+€7,213)
- Tangible fixed assets -€7,213
down €7,213 (-100.0%), from €7,213 to €0
- Receivables within one year -€5,455
down €5,455 (-7.2%), from €76,049 to €70,594
of which Trade receivables: -€8,647
- Deferred charges and accrued income +€2,475
new in 2025: €2,475
- Reserves +€19,424
up €19,424 (+25.5%), from €76,178 to €95,602
- Tax, wage and social debts -€3,143
down €3,143 (-44.9%), from €6,993 to €3,850
- Gross operating margin +€25,057
up €25,057 (+228.1%), from €10,985 to €36,042
- Taxes +€7,667
up €7,667 (+202.2%), from €3,792 to €11,459
- Depreciation -€618
down €618 (-7.9%), from €7,831 to €7,213
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 | €100,989 | €116,856 | +€15,868 | +15.7% |
| Fixed assets | 21/28 | €7,213 | €0 | -€7,213 | -100.0% |
| Tangible fixed assets | 22/27 | €7,213 | €0 | -€7,213 | -100.0% |
| Furniture and vehicles | 24 | €7,213 | €0 | -€7,213 | -100.0% |
| Current assets | 29/58 | €93,776 | €116,856 | +€23,080 | +24.6% |
| Amounts receivable within one year | 40/41 | €76,049 | €70,594 | -€5,455 | -7.2% |
| Trade receivables | 40 | €13,381 | €4,734 | -€8,647 | -64.6% |
| Other amounts receivable | 41 | €62,668 | €65,860 | +€3,192 | +5.1% |
| Cash at bank and in hand | 54/58 | €17,727 | €43,788 | +€26,061 | +147.0% |
| Deferred charges and accrued income | 490/1 | - | €2,475 | +€2,475 | |
| Total equity and liabilities | 10/49 | €100,989 | €116,856 | +€15,868 | +15.7% |
| Equity | 10/15 | €91,878 | €111,301 | +€19,424 | +21.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €76,178 | €95,602 | +€19,424 | +25.5% |
| Distributable reserves | 133 | €76,178 | €95,602 | +€19,424 | +25.5% |
| Profit (loss) carried forward | 14 | €3,299 | €3,299 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,500 | €1,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,500 | €1,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable | 17/49 | €7,611 | €4,055 | -€3,556 | -46.7% |
| Amounts payable within one year | 42/48 | €7,611 | €4,055 | -€3,556 | -46.7% |
| Trade debts | 44 | €618 | €205 | -€413 | -66.8% |
| Suppliers | 440/4 | €618 | €205 | -€413 | -66.8% |
| Taxes, remuneration and social security | 45 | €6,993 | €3,850 | -€3,143 | -44.9% |
| Taxes | 450/3 | €6,993 | €3,850 | -€3,143 | -44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,831 | €7,213 | -€618 | -7.9% |
| Other operating charges | 640/8 | €988 | €1,020 | +€33 | +3.3% |
| Gross operating margin | 9900 | €10,985 | €36,042 | +€25,057 | +228.1% |
| Operating profit (loss) | 9901 | €2,167 | €27,809 | +€25,642 | +1183.2% |
| Financial income | 75/76B | €3,643 | €3,314 | -€329 | -9.0% |
| Recurring financial income | 75 | €3,643 | €3,314 | -€329 | -9.0% |
| Financial charges | 65/66B | €247 | €241 | -€7 | -2.7% |
| Recurring financial charges | 65 | €247 | €241 | -€7 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €5,563 | €30,883 | +€25,319 | +455.1% |
| Income taxes | 67/77 | €3,792 | €11,459 | +€7,667 | +202.2% |
| Profit (loss) for the period | 9904 | €1,771 | €19,424 | +€17,653 | +996.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,771 | €19,424 | +€17,653 | +996.9% |
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.