MICHBETON: what changed
MICHBETON
Largest movements
- Receivables within one year +€47,023
up €47,023 (+33.8%), from €139,095 to €186,118
of which Other amounts receivable: +€80,706
- Receivables after one year -€33,619
no longer reported in 2025 (was €33,619)
- Cash -€7,014
down €7,014 (-78.6%), from €8,923 to €1,910
mainly Receivables within one year (-€47,023) and Trade debts (-€22,836)
- Deferred charges and accrued income +€2,871
up €2,871 (+190%), from €1,513 to €4,384
- Reserves +€29,790
up €29,790 (+42.5%), from €70,168 to €99,958
- Trade debts -€22,836
down €22,836 (-86.6%), from €26,356 to €3,520
- Tax, wage and social debts +€2,308
up €2,308 (+7.8%), from €29,445 to €31,753
- Gross operating margin -€23,498
down €23,498 (-36.8%), from €63,813 to €40,315
- Taxes -€7,585
down €7,585 (-38.3%), from €19,780 to €12,194
- Financial income +€3,791
up €3,791 (+639%), from €593 to €4,384
- Financial charges +€2,425
up €2,425 (+1,659%), from €146 to €2,571
- Other operating charges -€1,111
down €1,111 (-88.5%), from €1,255 to €144
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 | €183,149 | €192,412 | +€9,262 | +5.1% |
| Current assets | 29/58 | €183,149 | €192,412 | +€9,262 | +5.1% |
| Amounts receivable after more than one year | 29 | €33,619 | - | -€33,619 | |
| Other amounts receivable | 291 | €33,619 | - | -€33,619 | |
| Amounts receivable within one year | 40/41 | €139,095 | €186,118 | +€47,023 | +33.8% |
| Trade receivables | 40 | €117,544 | €83,861 | -€33,683 | -28.7% |
| Other amounts receivable | 41 | €21,551 | €102,257 | +€80,706 | +374% |
| Cash at bank and in hand | 54/58 | €8,923 | €1,910 | -€7,014 | -78.6% |
| Deferred charges and accrued income | 490/1 | €1,513 | €4,384 | +€2,871 | +190% |
| Total equity and liabilities | 10/49 | €183,149 | €192,412 | +€9,262 | +5.1% |
| Equity | 10/15 | €72,168 | €101,958 | +€29,790 | +41.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €70,168 | €99,958 | +€29,790 | +42.5% |
| Distributable reserves | 133 | €70,168 | €99,958 | +€29,790 | +42.5% |
| Amounts payable | 17/49 | €110,982 | €90,454 | -€20,528 | -18.5% |
| Amounts payable within one year | 42/48 | €110,982 | €90,454 | -€20,528 | -18.5% |
| Trade debts | 44 | €26,356 | €3,520 | -€22,836 | -86.6% |
| Suppliers | 440/4 | €26,356 | €3,520 | -€22,836 | -86.6% |
| Advances received on contracts in progress | 46 | €55,181 | €55,181 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €29,445 | €31,753 | +€2,308 | +7.8% |
| Taxes | 450/3 | €29,445 | €31,753 | +€2,308 | +7.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Other operating charges | 640/8 | €1,255 | €144 | -€1,111 | -88.5% |
| Gross operating margin | 9900 | €63,813 | €40,315 | -€23,498 | -36.8% |
| Operating profit (loss) | 9901 | €62,558 | €40,171 | -€22,387 | -35.8% |
| Financial income | 75/76B | €593 | €4,384 | +€3,791 | +639% |
| Recurring financial income | 75 | €593 | €4,384 | +€3,791 | +639% |
| Financial charges | 65/66B | €146 | €2,571 | +€2,425 | +1,659% |
| Recurring financial charges | 65 | €146 | €2,571 | +€2,425 | +1,659% |
| Profit (loss) for the period before taxes | 9903 | €63,005 | €41,984 | -€21,021 | -33.4% |
| Income taxes | 67/77 | €19,780 | €12,194 | -€7,585 | -38.3% |
| Profit (loss) for the period | 9904 | €43,225 | €29,790 | -€13,435 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,225 | €29,790 | -€13,435 | -31.1% |
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 4 November 2026 via checked.be.