MICHAELI NIK: 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.
MICHAELI NIK
Largest movements
- Current investments +€112,650
up €112,650 (+82.4%), from €136,660 to €249,310
- Cash -€98,078
down €98,078 (-45.2%), from €217,021 to €118,942
mainly Current investments (-€112,650) and Receivables within one year (-€13,274)
- Receivables within one year +€13,274
up €13,274 (+83.8%), from €15,846 to €29,119
of which Trade receivables: +€13,499
- Reserves +€19,824
up €19,824 (+25.3%), from €78,280 to €98,104
of which Distributable reserves: +€29,571
- Other debts +€9,857
up €9,857 (+8.0%), from €123,927 to €133,784
- Accrued charges and deferred income -€7,080
no longer reported in 2024 (was €7,080)
- Tax, wage and social debts +€5,118
up €5,118 (+80.2%), from €6,383 to €11,501
of which Taxes: +€9,268
- Staff costs -€12,204
down €12,204 (-17.0%), from €71,804 to €59,600
- Taxes +€5,354
up €5,354 (+109.9%), from €4,872 to €10,226
- Gross operating margin +€1,482
up €1,482 (+1.6%), from €93,822 to €95,304
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 | €375,527 | €401,838 | +€26,311 | +7.0% |
| Fixed assets | 21/28 | €1,225 | €815 | -€410 | -33.5% |
| Tangible fixed assets | 22/27 | €1,225 | €815 | -€410 | -33.5% |
| Furniture and vehicles | 24 | €1,225 | €815 | -€410 | -33.5% |
| Current assets | 29/58 | €374,302 | €401,023 | +€26,721 | +7.1% |
| Stocks and contracts in progress | 3 | €2,204 | - | -€2,204 | |
| Stocks | 30/36 | €2,204 | - | -€2,204 | |
| Amounts receivable within one year | 40/41 | €15,846 | €29,119 | +€13,274 | +83.8% |
| Trade receivables | 40 | €10,329 | €23,828 | +€13,499 | +130.7% |
| Other amounts receivable | 41 | €5,516 | €5,291 | -€225 | -4.1% |
| Current investments | 50/53 | €136,660 | €249,310 | +€112,650 | +82.4% |
| Cash at bank and in hand | 54/58 | €217,021 | €118,942 | -€98,078 | -45.2% |
| Deferred charges and accrued income | 490/1 | €2,572 | €3,651 | +€1,079 | +42.0% |
| Total equity and liabilities | 10/49 | €375,527 | €401,838 | +€26,311 | +7.0% |
| Equity | 10/15 | €237,609 | €255,716 | +€18,106 | +7.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €78,280 | €98,104 | +€19,824 | +25.3% |
| Non-distributable reserves | 130/1 | €20,633 | €10,886 | -€9,747 | -47.2% |
| Legal reserve | 130 | €20,633 | €10,886 | -€9,747 | -47.2% |
| Distributable reserves | 133 | €57,647 | €87,218 | +€29,571 | +51.3% |
| Profit (loss) carried forward | 14 | €97,329 | €95,611 | -€1,718 | -1.8% |
| Amounts payable | 17/49 | €137,918 | €146,122 | +€8,204 | +5.9% |
| Amounts payable within one year | 42/48 | €130,838 | €146,122 | +€15,284 | +11.7% |
| Trade debts | 44 | €529 | €837 | +€308 | +58.3% |
| Suppliers | 440/4 | €529 | €837 | +€308 | +58.3% |
| Taxes, remuneration and social security | 45 | €6,383 | €11,501 | +€5,118 | +80.2% |
| Taxes | 450/3 | €1,582 | €10,850 | +€9,268 | +585.8% |
| Remuneration and social security | 454/9 | €4,800 | €651 | -€4,150 | -86.4% |
| Other amounts payable | 47/48 | €123,927 | €133,784 | +€9,857 | +8.0% |
| Accrued charges and deferred income | 492/3 | €7,080 | - | -€7,080 | |
| Non-recurring operating income | 76A | - | €561 | +€561 | |
| Remuneration, social security and pensions | 62 | €71,804 | €59,600 | -€12,204 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €410 | €410 | = | 0.0% |
| Other operating charges | 640/8 | €731 | €738 | +€7 | +0.9% |
| Gross operating margin | 9900 | €93,822 | €95,304 | +€1,482 | +1.6% |
| Operating profit (loss) | 9901 | €20,877 | €34,556 | +€13,679 | +65.5% |
| Financial income | 75/76B | €1,141 | €1,999 | +€858 | +75.2% |
| Recurring financial income | 75 | €1,141 | €1,999 | +€858 | +75.2% |
| Financial charges | 65/66B | €7,400 | €6,505 | -€895 | -12.1% |
| Recurring financial charges | 65 | €7,400 | €6,505 | -€895 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €14,619 | €30,050 | +€15,432 | +105.6% |
| Income taxes | 67/77 | €4,872 | €10,226 | +€5,354 | +109.9% |
| Profit (loss) for the period | 9904 | €9,747 | €19,824 | +€10,078 | +103.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,747 | €19,824 | +€10,078 | +103.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.