Michel Consulting: what changed
Two financial 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.
Michel Consulting
Largest movements
- Receivables within one year -€125,131
down €125,131 (-91.6%), from €136,586 to €11,456
of which Other amounts receivable: -€115,039
- Receivables after one year +€116,000
new in 2025: €116,000
- Intangible fixed assets +€27,142
new in 2025: €27,142
- Tangible fixed assets +€12,988
up €12,988 (+61.5%), from €21,105 to €34,093
of which Furniture and vehicles: +€14,905
- Deferred charges and accrued income +€12,944
up €12,944 (+25,919%), from €50 to €12,994
- Other debts +€49,112
up €49,112 (+5,529%), from €888 to €50,000
- Profit (loss) carried forward -€21,879
down €21,879 (-92.6%), from €23,617 to €1,738
- Current portion of long-term debt +€17,826
up €17,826 (+108%), from €16,509 to €34,336
- Tax, wage and social debts -€5,267
down €5,267 (-33.0%), from €15,958 to €10,691
of which Taxes: -€5,267
- Trade debts +€4,546
up €4,546 (+287%), from €1,586 to €6,132
- Gross operating margin +€29,890
up €29,890 (+100%), from €29,827 to €59,717
- Depreciation +€19,016
up €19,016 (+506%), from €3,760 to €22,776
- Taxes +€2,235
up €2,235 (+44.2%), from €5,059 to €7,293
- Other operating charges +€662
up €662 (+550%), from €120 to €782
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.
Derived cash bridge
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 | €170,847 | €214,940 | +€44,093 | +25.8% |
| Fixed assets | 21/28 | €21,105 | €61,234 | +€40,130 | +190% |
| Intangible fixed assets | 21 | - | €27,142 | +€27,142 | |
| Tangible fixed assets | 22/27 | €21,105 | €34,093 | +€12,988 | +61.5% |
| Plant, machinery and equipment | 23 | €11,332 | €9,416 | -€1,917 | -16.9% |
| Furniture and vehicles | 24 | €9,772 | €24,677 | +€14,905 | +153% |
| Current assets | 29/58 | €149,743 | €153,706 | +€3,963 | +2.6% |
| Amounts receivable after more than one year | 29 | - | €116,000 | +€116,000 | |
| Other amounts receivable | 291 | - | €116,000 | +€116,000 | |
| Amounts receivable within one year | 40/41 | €136,586 | €11,456 | -€125,131 | -91.6% |
| Trade receivables | 40 | €14,085 | €3,993 | -€10,092 | -71.7% |
| Other amounts receivable | 41 | €122,501 | €7,463 | -€115,039 | -93.9% |
| Cash at bank and in hand | 54/58 | €13,106 | €13,256 | +€150 | +1.1% |
| Deferred charges and accrued income | 490/1 | €50 | €12,994 | +€12,944 | +25,919% |
| Total equity and liabilities | 10/49 | €170,847 | €214,940 | +€44,093 | +25.8% |
| Equity | 10/15 | €61,617 | €39,738 | -€21,879 | -35.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €36,000 | €36,000 | = | 0.0% |
| Distributable reserves | 133 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,617 | €1,738 | -€21,879 | -92.6% |
| Amounts payable | 17/49 | €109,230 | €175,202 | +€65,972 | +60.4% |
| Amounts payable after more than one year | 17 | €74,289 | €74,044 | -€246 | -0.3% |
| Financial debts | 170/4 | €74,289 | €74,044 | -€246 | -0.3% |
| Amounts payable within one year | 42/48 | €34,941 | €101,159 | +€66,218 | +190% |
| Current portion of amounts payable after more than one year | 42 | €16,509 | €34,336 | +€17,826 | +108% |
| Trade debts | 44 | €1,586 | €6,132 | +€4,546 | +287% |
| Suppliers | 440/4 | €1,586 | €6,132 | +€4,546 | +287% |
| Taxes, remuneration and social security | 45 | €15,958 | €10,691 | -€5,267 | -33.0% |
| Taxes | 450/3 | €15,958 | €10,691 | -€5,267 | -33.0% |
| Remuneration and social security | 454/9 | - | €0 | +€0 | |
| Other amounts payable | 47/48 | €888 | €50,000 | +€49,112 | +5,529% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,760 | €22,776 | +€19,016 | +506% |
| Other operating charges | 640/8 | €120 | €782 | +€662 | +550% |
| Gross operating margin | 9900 | €29,827 | €59,717 | +€29,890 | +100% |
| Operating profit (loss) | 9901 | €25,947 | €36,158 | +€10,212 | +39.4% |
| Financial income | 75/76B | €3,940 | €4,202 | +€262 | +6.6% |
| Recurring financial income | 75 | €3,940 | €4,202 | +€262 | +6.6% |
| Financial charges | 65/66B | €5,051 | €4,946 | -€105 | -2.1% |
| Recurring financial charges | 65 | €5,051 | €4,946 | -€105 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €24,836 | €35,414 | +€10,578 | +42.6% |
| Income taxes | 67/77 | €5,059 | €7,293 | +€2,235 | +44.2% |
| Profit (loss) for the period | 9904 | €19,777 | €28,121 | +€8,344 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,777 | €28,121 | +€8,344 | +42.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.