MICHEL GAVAGE SONORISATION: what changed
What changed
MICHEL GAVAGE SONORISATION
NACE 90.393, Specialised image, lighting and sound technical services
filed annual accounts (NBB)
Net result for the year
€125,247
2024 · €162,616-€37,370
Equity
€797,855
2024 · €700,677+€97,178
Cash
€26,233
2024 · €83,816-€57,583
Balance sheet total
€3.6m
2024 · €2.2m+€1.4m
Largest movements
Assets
- Tangible fixed assets +€1.6m
up €1.6m (+96.6%), from €1.7m to €3.3m
of which Land and buildings: +€1.5m
- Receivables within one year -€152,010
down €152,010 (-39.0%), from €389,637 to €237,627
of which Other amounts receivable: -€195,720
- Cash -€57,583
down €57,583 (-68.7%), from €83,816 to €26,233
mainly Investment in fixed assets (net) (-€2.0m) and Short-term financial debts (-€120,162)
Equity and liabilities
- Debts after one year +€1.4m
up €1.4m (+266%), from €540,214 to €2.0m
- Short-term financial debts -€120,162
down €120,162 (-70.5%), from €170,342 to €50,180
- Reserves +€99,847
up €99,847 (+16.0%), from €624,416 to €724,263
- Trade debts -€92,525
down €92,525 (-25.6%), from €361,403 to €268,878
- Current portion of long-term debt +€64,767
up €64,767 (+28.7%), from €225,992 to €290,759
Income statement
- Gross operating margin +€79,336
up €79,336 (+8.0%), from €994,809 to €1.1m
- Depreciation +€74,681
up €74,681 (+22.1%), from €338,188 to €412,869
- Staff costs +€42,811
up €42,811 (+11.7%), from €364,669 to €407,480
- Taxes -€25,480
down €25,480 (-33.3%), from €76,409 to €50,928
- Financial charges +€16,864
up €16,864 (+40.8%), from €41,284 to €58,148
of which Financial charges: +€19,024
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.
Result 2024
€162,616
Gross operating margin
+€79,336
Staff costs
-€42,811
Depreciation
-€74,681
Other operating charges
-€4,723
Other operating items
-€1,500
Financial income
-€1,608
Financial charges
-€16,864
Taxes
+€25,480
Result 2025
€125,247
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€620,830
Investment
-€2.0m
Financing
+€1.4m
Cash 2024
€83,816
From operations (derived)
+€620,830
Net result for the year
+€125,247
Depreciation
+€412,869
Receivables within one year
+€152,010
Deferred charges and accrued income
+€2,414
Trade debts
-€92,525
Tax, wage and social debts
-€6,812
Other debts
-€24,214
Accrued charges and deferred income
+€51,842
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.0m
Current investments
+€17,889
Financing
+€1.4m
Debts after one year
+€1.4m
Current portion of long-term debt
+€64,767
Short-term financial debts
-€120,162
Contributions, distributions and other
-€28,069
Cash 2025
€26,233
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,173,014 | €3,577,937 | +€1.4m | +64.7% |
| Fixed assets | 21/28 | €1,662,997 | €3,297,816 | +€1.6m | +98.3% |
| Intangible fixed assets | 21 | - | €30,734 | +€30,734 | |
| Tangible fixed assets | 22/27 | €1,660,205 | €3,264,190 | +€1.6m | +96.6% |
| Land and buildings | 22 | €597,770 | €2,116,571 | +€1.5m | +254% |
| Plant, machinery and equipment | 23 | €694,175 | €698,630 | +€4,455 | +0.6% |
| Furniture and vehicles | 24 | €353,414 | €431,376 | +€77,962 | +22.1% |
| Other tangible fixed assets | 26 | €14,846 | €13,090 | -€1,756 | -11.8% |
| Assets under construction and advance payments | 27 | - | €4,522 | +€4,522 | |
| Financial fixed assets | 28 | €2,793 | €2,893 | +€100 | +3.6% |
| Current assets | 29/58 | €510,017 | €280,121 | -€229,896 | -45.1% |
| Amounts receivable within one year | 40/41 | €389,637 | €237,627 | -€152,010 | -39.0% |
| Trade receivables | 40 | €183,602 | €227,313 | +€43,711 | +23.8% |
| Other amounts receivable | 41 | €206,035 | €10,314 | -€195,720 | -95.0% |
| Current investments | 50/53 | €17,889 | €0 | -€17,889 | -100% |
| Cash at bank and in hand | 54/58 | €83,816 | €26,233 | -€57,583 | -68.7% |
| Deferred charges and accrued income | 490/1 | €18,674 | €16,261 | -€2,414 | -12.9% |
| Total equity and liabilities | 10/49 | €2,173,014 | €3,577,937 | +€1.4m | +64.7% |
| Equity | 10/15 | €700,677 | €797,855 | +€97,178 | +13.9% |
| Contributions | 10/11 | €19,862 | €19,862 | = | 0.0% |
| Reserves | 13 | €624,416 | €724,263 | +€99,847 | +16.0% |
| Distributable reserves | 133 | €624,416 | €724,263 | +€99,847 | +16.0% |
| Profit (loss) carried forward | 14 | €3,698 | €3,698 | = | 0.0% |
| Investment grants | 15 | €52,701 | €50,032 | -€2,669 | -5.1% |
| Amounts payable | 17/49 | €1,472,337 | €2,780,082 | +€1.3m | +88.8% |
| Amounts payable after more than one year | 17 | €540,214 | €1,975,062 | +€1.4m | +266% |
| Financial debts | 170/4 | €540,214 | €1,975,062 | +€1.4m | +266% |
| Amounts payable within one year | 42/48 | €893,821 | €714,876 | -€178,945 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €225,992 | €290,759 | +€64,767 | +28.7% |
| Financial debts | 43 | €170,342 | €50,180 | -€120,162 | -70.5% |
| Credit institutions | 430/8 | €170,342 | €50,180 | -€120,162 | -70.5% |
| Trade debts | 44 | €361,403 | €268,878 | -€92,525 | -25.6% |
| Suppliers | 440/4 | €361,403 | €268,878 | -€92,525 | -25.6% |
| Taxes, remuneration and social security | 45 | €50,285 | €43,473 | -€6,812 | -13.5% |
| Taxes | 450/3 | €3,974 | €15,183 | +€11,209 | +282% |
| Remuneration and social security | 454/9 | €46,310 | €28,290 | -€18,021 | -38.9% |
| Other amounts payable | 47/48 | €85,800 | €61,586 | -€24,214 | -28.2% |
| Accrued charges and deferred income | 492/3 | €38,302 | €90,143 | +€51,842 | +135% |
| Remuneration, social security and pensions | 62 | €364,669 | €407,480 | +€42,811 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €338,188 | €412,869 | +€74,681 | +22.1% |
| Other operating charges | 640/8 | €23,155 | €27,878 | +€4,723 | +20.4% |
| Non-recurring operating charges | 66A | - | €1,500 | +€1,500 | |
| Gross operating margin | 9900 | €994,809 | €1,074,145 | +€79,336 | +8.0% |
| Operating profit (loss) | 9901 | €268,796 | €224,418 | -€44,378 | -16.5% |
| Financial income | 75/76B | €11,513 | €9,905 | -€1,608 | -14.0% |
| Recurring financial income | 75 | €6,013 | €3,780 | -€2,233 | -37.1% |
| Non-recurring financial income | 76B | €5,500 | €6,125 | +€625 | +11.4% |
| Financial charges | 65/66B | €41,284 | €58,148 | +€16,864 | +40.8% |
| Recurring financial charges | 65 | €35,122 | €54,146 | +€19,024 | +54.2% |
| Non-recurring financial charges | 66B | €6,163 | €4,002 | -€2,160 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €239,025 | €176,175 | -€62,850 | -26.3% |
| Income taxes | 67/77 | €76,409 | €50,928 | -€25,480 | -33.3% |
| Profit (loss) for the period | 9904 | €162,616 | €125,247 | -€37,370 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €162,616 | €125,247 | -€37,370 | -23.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.