MichaEls Management BV: what changed
MichaEls Management BV
Largest movements
- Current investments -€685,935
down €685,935 (-100%), from €685,935 to €0
- Cash -€258,400
down €258,400 (-55.1%), from €468,605 to €210,204
mainly Contributions, distributions and other (-€1.4m) and Receivables after one year (-€16,675)
- Receivables within one year -€30,694
down €30,694 (-17.5%), from €175,112 to €144,418
of which Trade receivables: -€37,779
- Receivables after one year +€16,675
up €16,675 (+8.9%), from €187,349 to €204,023
- Profit (loss) carried forward -€1.1m
down €1.1m (-78.8%), from €1.4m to €306,898
- Other debts +€170,622
up €170,622 (+1,128%), from €15,130 to €185,752
- Trade debts +€22,823
up €22,823 (+1,653%), from €1,380 to €24,203
- Financial income +€95,793
up €95,793 (+649%), from €14,760 to €110,553
- Financial charges +€34,962
up €34,962, from -€34,615 to €347
- Gross operating margin -€28,406
down €28,406 (-11.3%), from €252,200 to €223,794
- Staff costs +€15,089
up €15,089 (+44.6%), from €33,810 to €48,899
- Taxes -€6,855
down €6,855 (-13.2%), from €51,966 to €45,111
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,537,723 | €580,297 | -€957,426 | -62.3% |
| Fixed assets | 21/28 | €16,895 | €10,700 | -€6,194 | -36.7% |
| Tangible fixed assets | 22/27 | €16,895 | €10,700 | -€6,194 | -36.7% |
| Plant, machinery and equipment | 23 | €1,768 | €863 | -€906 | -51.2% |
| Furniture and vehicles | 24 | €15,126 | €9,838 | -€5,289 | -35.0% |
| Current assets | 29/58 | €1,520,828 | €569,597 | -€951,231 | -62.5% |
| Amounts receivable after more than one year | 29 | €187,349 | €204,023 | +€16,675 | +8.9% |
| Other amounts receivable | 291 | €187,349 | €204,023 | +€16,675 | +8.9% |
| Amounts receivable within one year | 40/41 | €175,112 | €144,418 | -€30,694 | -17.5% |
| Trade receivables | 40 | €175,112 | €137,334 | -€37,779 | -21.6% |
| Other amounts receivable | 41 | €0 | €7,084 | +€7,084 | |
| Current investments | 50/53 | €685,935 | €0 | -€685,935 | -100% |
| Cash at bank and in hand | 54/58 | €468,605 | €210,204 | -€258,400 | -55.1% |
| Deferred charges and accrued income | 490/1 | €3,827 | €10,951 | +€7,124 | +186% |
| Total equity and liabilities | 10/49 | €1,537,723 | €580,297 | -€957,426 | -62.3% |
| Equity | 10/15 | €1,448,791 | €307,398 | -€1.1m | -78.8% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,448,291 | €306,898 | -€1.1m | -78.8% |
| Amounts payable | 17/49 | €88,932 | €272,899 | +€183,968 | +207% |
| Amounts payable within one year | 42/48 | €88,932 | €272,899 | +€183,968 | +207% |
| Trade debts | 44 | €1,380 | €24,203 | +€22,823 | +1,653% |
| Suppliers | 440/4 | €1,380 | €24,203 | +€22,823 | +1,653% |
| Taxes, remuneration and social security | 45 | €72,422 | €62,944 | -€9,477 | -13.1% |
| Taxes | 450/3 | €68,013 | €57,522 | -€10,492 | -15.4% |
| Remuneration and social security | 454/9 | €4,408 | €5,423 | +€1,015 | +23.0% |
| Other amounts payable | 47/48 | €15,130 | €185,752 | +€170,622 | +1,128% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €33,810 | €48,899 | +€15,089 | +44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,123 | €7,930 | +€807 | +11.3% |
| Other operating charges | 640/8 | €1,620 | €1,853 | +€232 | +14.3% |
| Gross operating margin | 9900 | €252,200 | €223,794 | -€28,406 | -11.3% |
| Operating profit (loss) | 9901 | €209,647 | €165,112 | -€44,535 | -21.2% |
| Financial income | 75/76B | €14,760 | €110,553 | +€95,793 | +649% |
| Recurring financial income | 75 | €14,760 | €110,553 | +€95,793 | +649% |
| Financial charges | 65/66B | -€34,615 | €347 | +€34,962 | |
| Recurring financial charges | 65 | -€34,615 | €347 | +€34,962 | |
| Profit (loss) for the period before taxes | 9903 | €259,022 | €275,318 | +€16,296 | +6.3% |
| Income taxes | 67/77 | €51,966 | €45,111 | -€6,855 | -13.2% |
| Profit (loss) for the period | 9904 | €207,057 | €230,207 | +€23,150 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €207,057 | €230,207 | +€23,150 | +11.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 28 February 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.