Michaël’s Services: 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.
Michaël’s Services
Largest movements
- Cash +€11,945
up €11,945 (+132.5%), from €9,015 to €20,960
mainly Other debts (+€24,537) and Net result for the year (+€20,487)
- Tangible fixed assets -€10,220
down €10,220 (-26.5%), from €38,556 to €28,336
- Other debts +€24,537
up €24,537 (+301.1%), from €8,149 to €32,687
- Reserves -€10,411
down €10,411 (-28.4%), from €36,619 to €26,208
- Debts after one year -€8,788
down €8,788 (-26.5%), from €33,191 to €24,403
- Trade debts -€4,875
down €4,875 (-64.7%), from €7,539 to €2,664
- Gross operating margin +€26,376
up €26,376 (+175.0%), from €15,069 to €41,445
- Taxes +€5,921
up €5,921 (+828.5%), from €715 to €6,635
- Other operating charges +€1,246
up €1,246 (+327.3%), from €381 to €1,626
- Financial charges -€434
down €434 (-14.9%), from €2,916 to €2,482
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 | €105,769 | €107,589 | +€1,820 | +1.7% |
| Fixed assets | 21/28 | €38,656 | €28,436 | -€10,220 | -26.4% |
| Tangible fixed assets | 22/27 | €38,556 | €28,336 | -€10,220 | -26.5% |
| Leasing and similar rights | 25 | €38,556 | €28,336 | -€10,220 | -26.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €67,113 | €79,153 | +€12,040 | +17.9% |
| Amounts receivable within one year | 40/41 | €58,098 | €58,193 | +€95 | +0.2% |
| Trade receivables | 40 | €37,450 | €30,028 | -€7,422 | -19.8% |
| Other amounts receivable | 41 | €20,648 | €28,165 | +€7,517 | +36.4% |
| Cash at bank and in hand | 54/58 | €9,015 | €20,960 | +€11,945 | +132.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €105,769 | €107,589 | +€1,820 | +1.7% |
| Equity | 10/15 | €39,119 | €28,708 | -€10,411 | -26.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €36,619 | €26,208 | -€10,411 | -28.4% |
| Distributable reserves | 133 | €36,619 | €26,208 | -€10,411 | -28.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €66,649 | €78,880 | +€12,231 | +18.4% |
| Amounts payable after more than one year | 17 | €33,191 | €24,403 | -€8,788 | -26.5% |
| Financial debts | 170/4 | €33,191 | €24,403 | -€8,788 | -26.5% |
| Amounts payable within one year | 42/48 | €33,458 | €54,477 | +€21,019 | +62.8% |
| Current portion of amounts payable after more than one year | 42 | €8,265 | €8,788 | +€523 | +6.3% |
| Trade debts | 44 | €7,539 | €2,664 | -€4,875 | -64.7% |
| Suppliers | 440/4 | €7,539 | €2,664 | -€4,875 | -64.7% |
| Taxes, remuneration and social security | 45 | €9,505 | €10,339 | +€834 | +8.8% |
| Taxes | 450/3 | €9,505 | €10,339 | +€834 | +8.8% |
| Other amounts payable | 47/48 | €8,149 | €32,687 | +€24,537 | +301.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,220 | €10,220 | = | 0.0% |
| Other operating charges | 640/8 | €381 | €1,626 | +€1,246 | +327.3% |
| Gross operating margin | 9900 | €15,069 | €41,445 | +€26,376 | +175.0% |
| Operating profit (loss) | 9901 | €4,468 | €29,598 | +€25,130 | +562.4% |
| Financial income | 75/76B | €0 | €7 | +€7 | |
| Recurring financial income | 75 | €0 | €7 | +€7 | |
| Financial charges | 65/66B | €2,916 | €2,482 | -€434 | -14.9% |
| Recurring financial charges | 65 | €2,916 | €2,482 | -€434 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €1,552 | €27,123 | +€25,571 | +1647.3% |
| Income taxes | 67/77 | €715 | €6,635 | +€5,921 | +828.5% |
| Profit (loss) for the period | 9904 | €838 | €20,487 | +€19,650 | +2345.9% |
| Profit (loss) for the period to be appropriated | 9905 | €838 | €20,487 | +€19,650 | +2345.9% |
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 8 October 2026 via checked.be.