MICHAUX PNEUS: what changed
MICHAUX PNEUS
Largest movements
- Cash -€4,539
down €4,539 (-78.5%), from €5,784 to €1,245
mainly Net result for the year (-€32,849) and Trade debts (-€7,582)
- Receivables within one year +€4,444
up €4,444 (+300%), from €1,482 to €5,927
- Tangible fixed assets -€678
down €678 (-33.3%), from €2,034 to €1,356
- Deferred charges and accrued income -€534
down €534 (-74.1%), from €720 to €186
- Other debts +€37,037
up €37,037 (+159%), from €23,298 to €60,335
- Profit (loss) carried forward -€32,849
down €32,849 (-12.9%), from -€254,680 to -€287,528
- Trade debts -€7,582
down €7,582 (-34.9%), from €21,743 to €14,161
- Tax, wage and social debts +€2,307
up €2,307 (+22.8%), from €10,118 to €12,424
of which Remuneration and social security: +€4,831
- Accrued charges and deferred income -€220
no longer reported in 2025 (was €220)
- Gross operating margin -€18,512
down €18,512, from €4,656 to -€13,857
- Staff costs +€5,803
up €5,803 (+54.5%), from €10,654 to €16,458
- Other operating charges -€1,489
down €1,489 (-67.7%), from €2,201 to €711
- Financial charges +€322
up €322 (+39.0%), from €823 to €1,145
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 | €20,823 | €19,516 | -€1,306 | -6.3% |
| Fixed assets | 21/28 | €2,262 | €1,584 | -€678 | -30.0% |
| Tangible fixed assets | 22/27 | €2,034 | €1,356 | -€678 | -33.3% |
| Plant, machinery and equipment | 23 | €2,034 | €1,356 | -€678 | -33.3% |
| Financial fixed assets | 28 | €228 | €228 | = | 0.0% |
| Current assets | 29/58 | €18,561 | €17,933 | -€629 | -3.4% |
| Stocks and contracts in progress | 3 | €10,575 | €10,575 | = | 0.0% |
| Stocks | 30/36 | €10,575 | €10,575 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,482 | €5,927 | +€4,444 | +300% |
| Trade receivables | 40 | €1,482 | €5,927 | +€4,444 | +300% |
| Cash at bank and in hand | 54/58 | €5,784 | €1,245 | -€4,539 | -78.5% |
| Deferred charges and accrued income | 490/1 | €720 | €186 | -€534 | -74.1% |
| Total equity and liabilities | 10/49 | €20,823 | €19,516 | -€1,306 | -6.3% |
| Equity | 10/15 | -€235,891 | -€268,740 | -€32,849 | -13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188 | €188 | = | 0.0% |
| Non-distributable reserves | 130/1 | €188 | €188 | = | 0.0% |
| Reserves not available under the articles | 1311 | €188 | €188 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€254,680 | -€287,528 | -€32,849 | -12.9% |
| Amounts payable | 17/49 | €256,714 | €288,256 | +€31,542 | +12.3% |
| Amounts payable after more than one year | 17 | €201,335 | €201,335 | = | 0.0% |
| Other amounts payable | 178/9 | €201,335 | €201,335 | = | 0.0% |
| Amounts payable within one year | 42/48 | €55,159 | €86,921 | +€31,762 | +57.6% |
| Trade debts | 44 | €21,743 | €14,161 | -€7,582 | -34.9% |
| Suppliers | 440/4 | €21,743 | €14,161 | -€7,582 | -34.9% |
| Taxes, remuneration and social security | 45 | €10,118 | €12,424 | +€2,307 | +22.8% |
| Taxes | 450/3 | €8,350 | €5,825 | -€2,524 | -30.2% |
| Remuneration and social security | 454/9 | €1,768 | €6,599 | +€4,831 | +273% |
| Other amounts payable | 47/48 | €23,298 | €60,335 | +€37,037 | +159% |
| Accrued charges and deferred income | 492/3 | €220 | - | -€220 | |
| Remuneration, social security and pensions | 62 | €10,654 | €16,458 | +€5,803 | +54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €678 | €678 | = | 0.0% |
| Other operating charges | 640/8 | €2,201 | €711 | -€1,489 | -67.7% |
| Gross operating margin | 9900 | €4,656 | -€13,857 | -€18,512 | |
| Operating profit (loss) | 9901 | -€8,877 | -€31,704 | -€22,827 | -257% |
| Financial income | 75/76B | €1 | €0 | -€1 | -82.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -82.7% |
| Financial charges | 65/66B | €823 | €1,145 | +€322 | +39.0% |
| Recurring financial charges | 65 | €823 | €1,145 | +€322 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,700 | -€32,849 | -€23,149 | -239% |
| Profit (loss) for the period | 9904 | -€9,700 | -€32,849 | -€23,149 | -239% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,700 | -€32,849 | -€23,149 | -239% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.