MICHEL MESTRE: 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 MESTRE
Largest movements
- Cash +€1,247
up €1,247 (+3.1%), from €40,551 to €41,798
mainly Net result for the year (+€6,915) and Other debts (+€3,883)
- Deferred charges and accrued income +€867
up €867 (+16.8%), from €5,155 to €6,022
- Tangible fixed assets +€787
up €787 (+28.9%), from €2,722 to €3,509
of which Furniture and vehicles: +€787
- Other debts +€3,883
up €3,883 (+215%), from €1,807 to €5,690
- Trade debts -€2,207
down €2,207 (-76.9%), from €2,869 to €662
- Tax, wage and social debts +€1,224
up €1,224 (+29.5%), from €4,150 to €5,374
of which Remuneration and social security: +€883
- Gross operating margin -€5,305
down €5,305 (-17.1%), from €30,964 to €25,659
- Taxes -€2,607
down €2,607 (-37.9%), from €6,872 to €4,265
- Staff costs +€2,495
up €2,495 (+25.4%), from €9,809 to €12,304
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 | €48,477 | €51,378 | +€2,901 | +6.0% |
| Fixed assets | 21/28 | €2,772 | €3,559 | +€787 | +28.4% |
| Tangible fixed assets | 22/27 | €2,722 | €3,509 | +€787 | +28.9% |
| Land and buildings | 22 | €2,479 | €2,479 | = | 0.0% |
| Furniture and vehicles | 24 | €243 | €1,030 | +€787 | +323% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €45,705 | €47,820 | +€2,114 | +4.6% |
| Cash at bank and in hand | 54/58 | €40,551 | €41,798 | +€1,247 | +3.1% |
| Deferred charges and accrued income | 490/1 | €5,155 | €6,022 | +€867 | +16.8% |
| Total equity and liabilities | 10/49 | €48,477 | €51,378 | +€2,901 | +6.0% |
| Equity | 10/15 | €39,652 | €39,652 | = | 0.0% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Revaluation surpluses | 12 | €16,113 | €16,113 | = | 0.0% |
| Reserves | 13 | €2,097 | €2,097 | = | 0.0% |
| Non-distributable reserves | 130/1 | €610 | €610 | = | 0.0% |
| Reserves not available under the articles | 1311 | €610 | €610 | = | 0.0% |
| Distributable reserves | 133 | €1,487 | €1,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,137 | -€28,137 | = | 0.0% |
| Amounts payable | 17/49 | €8,826 | €11,727 | +€2,901 | +32.9% |
| Amounts payable within one year | 42/48 | €8,826 | €11,727 | +€2,901 | +32.9% |
| Trade debts | 44 | €2,869 | €662 | -€2,207 | -76.9% |
| Suppliers | 440/4 | €2,869 | €662 | -€2,207 | -76.9% |
| Taxes, remuneration and social security | 45 | €4,150 | €5,374 | +€1,224 | +29.5% |
| Taxes | 450/3 | €2,887 | €3,228 | +€341 | +11.8% |
| Remuneration and social security | 454/9 | €1,263 | €2,146 | +€883 | +69.9% |
| Other amounts payable | 47/48 | €1,807 | €5,690 | +€3,883 | +215% |
| Remuneration, social security and pensions | 62 | €9,809 | €12,304 | +€2,495 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353 | €460 | +€107 | +30.4% |
| Other operating charges | 640/8 | €2,027 | €1,772 | -€256 | -12.6% |
| Gross operating margin | 9900 | €30,964 | €25,659 | -€5,305 | -17.1% |
| Operating profit (loss) | 9901 | €18,774 | €11,123 | -€7,651 | -40.8% |
| Financial income | 75/76B | €47 | €233 | +€186 | +395% |
| Recurring financial income | 75 | €47 | €233 | +€186 | +395% |
| Financial charges | 65/66B | €184 | €175 | -€9 | -4.8% |
| Recurring financial charges | 65 | €184 | €175 | -€9 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €18,637 | €11,181 | -€7,457 | -40.0% |
| Income taxes | 67/77 | €6,872 | €4,265 | -€2,607 | -37.9% |
| Profit (loss) for the period | 9904 | €11,765 | €6,915 | -€4,850 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,765 | €6,915 | -€4,850 | -41.2% |
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 31 October 2026 via checked.be.