Michel Van Lierde: 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 Van Lierde
Largest movements
- Current investments +€100,000
up €100,000 (+200%), from €50,000 to €150,000
- Receivables within one year -€17,518
down €17,518 (-96.5%), from €18,150 to €631
of which Trade receivables: -€17,657
- Cash -€3,019
down €3,019 (-8.3%), from €36,250 to €33,231
mainly Current investments (-€100,000)
- Reserves +€74,708
up €74,708 (+106%), from €70,783 to €145,491
- Tax, wage and social debts +€3,532
up €3,532 (+12.6%), from €28,078 to €31,610
of which Remuneration and social security: +€2,628
- Gross operating margin +€4,919
up €4,919 (+5.4%), from €91,228 to €96,146
- Financial charges +€1,041
up €1,041 (+129%), from €809 to €1,850
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 | €105,117 | €183,862 | +€78,745 | +74.9% |
| Current assets | 29/58 | €105,117 | €183,862 | +€78,745 | +74.9% |
| Amounts receivable within one year | 40/41 | €18,150 | €631 | -€17,518 | -96.5% |
| Trade receivables | 40 | €17,657 | - | -€17,657 | |
| Other amounts receivable | 41 | €493 | €631 | +€139 | +28.2% |
| Current investments | 50/53 | €50,000 | €150,000 | +€100,000 | +200% |
| Cash at bank and in hand | 54/58 | €36,250 | €33,231 | -€3,019 | -8.3% |
| Deferred charges and accrued income | 490/1 | €718 | - | -€718 | |
| Total equity and liabilities | 10/49 | €105,117 | €183,862 | +€78,745 | +74.9% |
| Equity | 10/15 | €75,783 | €150,491 | +€74,708 | +98.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,783 | €145,491 | +€74,708 | +106% |
| Distributable reserves | 133 | €70,783 | €145,491 | +€74,708 | +106% |
| Amounts payable | 17/49 | €29,335 | €33,371 | +€4,037 | +13.8% |
| Amounts payable within one year | 42/48 | €29,335 | €33,371 | +€4,037 | +13.8% |
| Trade debts | 44 | €1,257 | €1,761 | +€504 | +40.1% |
| Suppliers | 440/4 | €1,257 | €1,761 | +€504 | +40.1% |
| Taxes, remuneration and social security | 45 | €28,078 | €31,610 | +€3,532 | +12.6% |
| Taxes | 450/3 | €28,078 | €28,982 | +€904 | +3.2% |
| Remuneration and social security | 454/9 | - | €2,628 | +€2,628 | |
| Other operating charges | 640/8 | €151 | €66 | -€85 | -56.5% |
| Gross operating margin | 9900 | €91,228 | €96,146 | +€4,919 | +5.4% |
| Operating profit (loss) | 9901 | €91,077 | €96,081 | +€5,004 | +5.5% |
| Financial income | 75/76B | €1 | €878 | +€877 | +58,852% |
| Recurring financial income | 75 | €1 | €878 | +€877 | +58,852% |
| Financial charges | 65/66B | €809 | €1,850 | +€1,041 | +129% |
| Recurring financial charges | 65 | €809 | €1,850 | +€1,041 | +129% |
| Profit (loss) for the period before taxes | 9903 | €90,269 | €95,109 | +€4,840 | +5.4% |
| Income taxes | 67/77 | €19,486 | €20,401 | +€915 | +4.7% |
| Profit (loss) for the period | 9904 | €70,783 | €74,708 | +€3,925 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,783 | €74,708 | +€3,925 | +5.5% |
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 26 October 2026 via checked.be.