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 after one year +€310,000
new in 2025: €310,000
- Receivables within one year +€153,327
up €153,327 (+183%), from €83,810 to €237,136
of which Other amounts receivable: +€148,407
- Tangible fixed assets +€71,146
up €71,146 (+123%), from €57,773 to €128,919
of which Furniture and vehicles: +€72,625
- Financial fixed assets -€15,746
down €15,746 (-100%), from €15,746 to €0
- Reserves +€340,000
up €340,000 (+29,116%), from €1,168 to €341,168
of which Distributable reserves: +€340,000
- Profit (loss) carried forward +€204,248
up €204,248, from -€16,958 to €187,290
- Short-term financial debts -€26,000
down €26,000 (-100%), from €26,000 to €0
- Tax, wage and social debts +€11,235
up €11,235 (+8.8%), from €127,046 to €138,280
of which Taxes: +€10,110
- Financial income +€622,354
up €622,354 (+1,485,685%), from €42 to €622,395
- Gross operating margin -€55,297
down €55,297, from €35,188 to -€20,108
- Taxes +€23,567
up €23,567 (+181%), from €13,034 to €36,601
- Depreciation +€11,987
up €11,987 (+578%), from €2,073 to €14,061
- Financial charges +€1,840
up €1,840 (+609%), from €302 to €2,142
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 | €158,540 | €682,319 | +€523,779 | +330% |
| Fixed assets | 21/28 | €73,519 | €128,919 | +€55,400 | +75.4% |
| Tangible fixed assets | 22/27 | €57,773 | €128,919 | +€71,146 | +123% |
| Land and buildings | 22 | €55,668 | €54,190 | -€1,478 | -2.7% |
| Furniture and vehicles | 24 | €2,105 | €74,729 | +€72,625 | +3,451% |
| Financial fixed assets | 28 | €15,746 | €0 | -€15,746 | -100% |
| Current assets | 29/58 | €85,021 | €553,400 | +€468,379 | +551% |
| Amounts receivable after more than one year | 29 | - | €310,000 | +€310,000 | |
| Other amounts receivable | 291 | - | €310,000 | +€310,000 | |
| Amounts receivable within one year | 40/41 | €83,810 | €237,136 | +€153,327 | +183% |
| Trade receivables | 40 | €0 | €4,920 | +€4,920 | |
| Other amounts receivable | 41 | €83,810 | €232,216 | +€148,407 | +177% |
| Cash at bank and in hand | 54/58 | €1,211 | €5,633 | +€4,421 | +365% |
| Deferred charges and accrued income | 490/1 | - | €631 | +€631 | |
| Total equity and liabilities | 10/49 | €158,540 | €682,319 | +€523,779 | +330% |
| Equity | 10/15 | -€9,590 | €534,658 | +€544,248 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,168 | €341,168 | +€340,000 | +29,116% |
| Non-distributable reserves | 130/1 | €622 | €622 | = | 0.0% |
| Reserves not available under the articles | 1311 | €622 | €622 | = | 0.0% |
| Tax-exempt reserves | 132 | €546 | €546 | = | 0.0% |
| Distributable reserves | 133 | - | €340,000 | +€340,000 | |
| Profit (loss) carried forward | 14 | -€16,958 | €187,290 | +€204,248 | |
| Amounts payable | 17/49 | €168,130 | €147,661 | -€20,469 | -12.2% |
| Amounts payable within one year | 42/48 | €168,130 | €147,661 | -€20,469 | -12.2% |
| Financial debts | 43 | €26,000 | €0 | -€26,000 | -100% |
| Other loans | 439 | €26,000 | €0 | -€26,000 | -100% |
| Trade debts | 44 | €15,085 | €9,381 | -€5,704 | -37.8% |
| Suppliers | 440/4 | €15,085 | €9,381 | -€5,704 | -37.8% |
| Taxes, remuneration and social security | 45 | €127,046 | €138,280 | +€11,235 | +8.8% |
| Taxes | 450/3 | €127,046 | €137,156 | +€10,110 | +8.0% |
| Remuneration and social security | 454/9 | €0 | €1,124 | +€1,124 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,073 | €14,061 | +€11,987 | +578% |
| Other operating charges | 640/8 | €6,309 | €5,235 | -€1,074 | -17.0% |
| Gross operating margin | 9900 | €35,188 | -€20,108 | -€55,297 | |
| Operating profit (loss) | 9901 | €26,806 | -€39,404 | -€66,210 | |
| Financial income | 75/76B | €42 | €622,395 | +€622,354 | +1,485,685% |
| Recurring financial income | 75 | €42 | €622,395 | +€622,354 | +1,485,685% |
| Financial charges | 65/66B | €302 | €2,142 | +€1,840 | +609% |
| Recurring financial charges | 65 | €302 | €2,142 | +€1,840 | +609% |
| Profit (loss) for the period before taxes | 9903 | €26,546 | €580,849 | +€554,303 | +2,088% |
| Income taxes | 67/77 | €13,034 | €36,601 | +€23,567 | +181% |
| Profit (loss) for the period | 9904 | €13,512 | €544,248 | +€530,736 | +3,928% |
| Profit (loss) for the period to be appropriated | 9905 | €13,512 | €544,248 | +€530,736 | +3,928% |
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 22 October 2026 via checked.be.