Michel PREVOT: 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 PREVOT
Largest movements
- Cash +€312,186
up €312,186 (+144%), from €217,441 to €529,627
mainly Depreciation (+€325,416) and Debts after one year (+€267,569)
- Tangible fixed assets +€287,104
up €287,104 (+19.1%), from €1.5m to €1.8m
of which Furniture and vehicles: +€332,048
- Receivables within one year -€178,569
down €178,569 (-23.7%), from €753,507 to €574,938
of which Trade receivables: -€179,284
- Current investments -€50,000
down €50,000 (-50.0%), from €100,000 to €50,000
- Debts after one year +€267,569
up €267,569 (+29.7%), from €901,287 to €1.2m
- Current portion of long-term debt +€142,829
up €142,829 (+50.4%), from €283,323 to €426,152
- Trade debts -€105,592
down €105,592 (-15.3%), from €688,094 to €582,502
- Reserves +€60,000
up €60,000 (+968%), from €6,200 to €66,200
of which Distributable reserves: +€60,000
- Gross operating margin +€373,437
up €373,437 (+28.1%), from €1.3m to €1.7m
- Staff costs +€275,963
up €275,963 (+31.1%), from €886,740 to €1.2m
- Depreciation +€56,996
up €56,996 (+21.2%), from €268,421 to €325,416
- Other operating charges +€40,168
up €40,168 (+152%), from €26,453 to €66,621
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 | €2,713,562 | €3,079,493 | +€365,931 | +13.5% |
| Fixed assets | 21/28 | €1,513,122 | €1,800,225 | +€287,104 | +19.0% |
| Tangible fixed assets | 22/27 | €1,502,287 | €1,789,391 | +€287,104 | +19.1% |
| Land and buildings | 22 | €411,714 | €402,942 | -€8,772 | -2.1% |
| Plant, machinery and equipment | 23 | €296,896 | €260,724 | -€36,172 | -12.2% |
| Furniture and vehicles | 24 | €793,677 | €1,125,725 | +€332,048 | +41.8% |
| Financial fixed assets | 28 | €10,834 | €10,834 | = | 0.0% |
| Current assets | 29/58 | €1,200,440 | €1,279,267 | +€78,827 | +6.6% |
| Stocks and contracts in progress | 3 | €97,033 | €92,620 | -€4,413 | -4.5% |
| Stocks | 30/36 | €97,033 | €92,620 | -€4,413 | -4.5% |
| Amounts receivable within one year | 40/41 | €753,507 | €574,938 | -€178,569 | -23.7% |
| Trade receivables | 40 | €717,373 | €538,088 | -€179,284 | -25.0% |
| Other amounts receivable | 41 | €36,134 | €36,849 | +€715 | +2.0% |
| Current investments | 50/53 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €217,441 | €529,627 | +€312,186 | +144% |
| Deferred charges and accrued income | 490/1 | €32,460 | €32,083 | -€377 | -1.2% |
| Total equity and liabilities | 10/49 | €2,713,562 | €3,079,493 | +€365,931 | +13.5% |
| Equity | 10/15 | €757,008 | €820,294 | +€63,287 | +8.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €66,200 | +€60,000 | +968% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | - | €60,000 | +€60,000 | |
| Profit (loss) carried forward | 14 | €675,803 | €681,179 | +€5,376 | +0.8% |
| Investment grants | 15 | €13,005 | €10,916 | -€2,089 | -16.1% |
| Amounts payable | 17/49 | €1,956,555 | €2,259,198 | +€302,644 | +15.5% |
| Amounts payable after more than one year | 17 | €901,287 | €1,168,856 | +€267,569 | +29.7% |
| Financial debts | 170/4 | €901,287 | €1,168,856 | +€267,569 | +29.7% |
| Amounts payable within one year | 42/48 | €1,055,267 | €1,090,342 | +€35,075 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €283,323 | €426,152 | +€142,829 | +50.4% |
| Trade debts | 44 | €688,094 | €582,502 | -€105,592 | -15.3% |
| Suppliers | 440/4 | €688,094 | €582,502 | -€105,592 | -15.3% |
| Taxes, remuneration and social security | 45 | €45,743 | €59,490 | +€13,747 | +30.1% |
| Taxes | 450/3 | €15,000 | €18,000 | +€3,000 | +20.0% |
| Remuneration and social security | 454/9 | €30,743 | €41,490 | +€10,747 | +35.0% |
| Other amounts payable | 47/48 | €38,108 | €22,199 | -€15,909 | -41.7% |
| Remuneration, social security and pensions | 62 | €886,740 | €1,162,703 | +€275,963 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268,421 | €325,416 | +€56,996 | +21.2% |
| Other operating charges | 640/8 | €26,453 | €66,621 | +€40,168 | +152% |
| Non-recurring operating charges | 66A | €5,341 | €398 | -€4,943 | -92.6% |
| Gross operating margin | 9900 | €1,329,370 | €1,702,807 | +€373,437 | +28.1% |
| Operating profit (loss) | 9901 | €142,415 | €147,669 | +€5,254 | +3.7% |
| Financial income | 75/76B | €6,288 | €5,486 | -€802 | -12.8% |
| Recurring financial income | 75 | €6,288 | €5,486 | -€802 | -12.8% |
| Financial charges | 65/66B | €33,406 | €43,279 | +€9,873 | +29.6% |
| Recurring financial charges | 65 | €33,406 | €43,279 | +€9,873 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €115,297 | €109,876 | -€5,421 | -4.7% |
| Income taxes | 67/77 | €26,777 | €19,500 | -€7,277 | -27.2% |
| Profit (loss) for the period | 9904 | €88,519 | €90,376 | +€1,856 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,519 | €90,376 | +€1,856 | +2.1% |
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 19 October 2026 via checked.be.