MICHEL DIFFUSION: what changed
Two fiscal 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 DIFFUSION
Largest movements
- Cash -€83,830
down €83,830 (-97.1%), from €86,353 to €2,522
mainly Investment in fixed assets (net) (-€71,679) and Receivables within one year (-€64,297)
- Receivables within one year +€64,297
up €64,297 (+11.0%), from €585,403 to €649,700
of which Trade receivables: +€48,736
- Tangible fixed assets +€57,424
up €57,424 (+332.8%), from €17,256 to €74,680
- Current portion of long-term debt +€47,660
new in 2024: €47,660
- Trade debts -€20,700
down €20,700 (-3.4%), from €617,611 to €596,910
- Staff costs -€25,787
down €25,787 (-7.1%), from €363,643 to €337,855
- Taxes +€16,559
new in 2024: €16,559
- Gross operating margin -€10,093
down €10,093 (-2.4%), from €425,061 to €414,968
- Financial charges +€5,681
up €5,681 (+404.4%), from €1,405 to €7,086
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €774,085 | €809,402 | +€35,317 | +4.6% |
| Fixed assets | 21/28 | €99,756 | €157,180 | +€57,424 | +57.6% |
| Tangible fixed assets | 22/27 | €17,256 | €74,680 | +€57,424 | +332.8% |
| Furniture and vehicles | 24 | €17,256 | €74,680 | +€57,424 | +332.8% |
| Financial fixed assets | 28 | €82,500 | €82,500 | = | 0.0% |
| Current assets | 29/58 | €674,329 | €652,222 | -€22,107 | -3.3% |
| Amounts receivable within one year | 40/41 | €585,403 | €649,700 | +€64,297 | +11.0% |
| Trade receivables | 40 | €551,549 | €600,285 | +€48,736 | +8.8% |
| Other amounts receivable | 41 | €33,854 | €49,415 | +€15,561 | +46.0% |
| Cash at bank and in hand | 54/58 | €86,353 | €2,522 | -€83,830 | -97.1% |
| Deferred charges and accrued income | 490/1 | €2,574 | - | -€2,574 | |
| Total equity and liabilities | 10/49 | €774,085 | €809,402 | +€35,317 | +4.6% |
| Equity | 10/15 | €143,411 | €143,832 | +€422 | +0.3% |
| Contributions | 10/11 | €20,560 | €20,560 | = | 0.0% |
| Outside capital | 11 | €20,560 | €20,560 | = | 0.0% |
| Other | 1109/19 | €20,560 | €20,560 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,851 | €123,272 | +€422 | +0.3% |
| Amounts payable | 17/49 | €630,674 | €665,570 | +€34,896 | +5.5% |
| Amounts payable within one year | 42/48 | €630,674 | €665,570 | +€34,896 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | - | €47,660 | +€47,660 | |
| Trade debts | 44 | €617,611 | €596,910 | -€20,700 | -3.4% |
| Suppliers | 440/4 | €617,611 | €596,910 | -€20,700 | -3.4% |
| Taxes, remuneration and social security | 45 | €13,063 | €20,999 | +€7,936 | +60.7% |
| Taxes | 450/3 | €5,806 | €13,742 | +€7,936 | +136.7% |
| Remuneration and social security | 454/9 | €7,258 | €7,258 | = | 0.0% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €363,643 | €337,855 | -€25,787 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,128 | €14,255 | +€3,128 | +28.1% |
| Other operating charges | 640/8 | €39,840 | €38,806 | -€1,034 | -2.6% |
| Gross operating margin | 9900 | €425,061 | €414,968 | -€10,093 | -2.4% |
| Operating profit (loss) | 9901 | €10,451 | €24,052 | +€13,601 | +130.1% |
| Financial income | 75/76B | €0 | €15 | +€15 | +49300.0% |
| Recurring financial income | 75 | €0 | €15 | +€15 | +49300.0% |
| Financial charges | 65/66B | €1,405 | €7,086 | +€5,681 | +404.4% |
| Recurring financial charges | 65 | €1,405 | €7,086 | +€5,681 | +404.4% |
| Profit (loss) for the period before taxes | 9903 | €9,046 | €16,981 | +€7,935 | +87.7% |
| Income taxes | 67/77 | - | €16,559 | +€16,559 | |
| Profit (loss) for the period | 9904 | €9,046 | €422 | -€8,625 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,046 | €422 | -€8,625 | -95.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.