MICHEL VAN PÉE: 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 PÉE
Largest movements
- Cash +€23,524
up €23,524 (+53.8%), from €43,703 to €67,227
mainly Net result for the year (+€23,820) and Receivables within one year (+€8,490)
- Receivables within one year -€8,490
down €8,490 (-31.6%), from €26,895 to €18,405
of which Trade receivables: -€10,000
- Tangible fixed assets -€1,972
down €1,972 (-85.2%), from €2,315 to €343
of which Furniture and vehicles: -€1,431
- Profit (loss) carried forward +€23,820
up €23,820 (+66.5%), from -€35,818 to -€11,998
- Debts after one year -€17,000
down €17,000 (-20.5%), from €83,000 to €66,000
- Tax, wage and social debts +€6,111
up €6,111 (+507%), from €1,205 to €7,316
- Gross operating margin -€7,329
down €7,329 (-17.5%), from €41,834 to €34,505
- Taxes -€1,472
down €1,472 (-15.1%), from €9,759 to €8,287
- Depreciation -€966
down €966 (-32.9%), from €2,938 to €1,972
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 | €75,792 | €88,957 | +€13,165 | +17.4% |
| Fixed assets | 21/28 | €2,315 | €343 | -€1,972 | -85.2% |
| Tangible fixed assets | 22/27 | €2,315 | €343 | -€1,972 | -85.2% |
| Plant, machinery and equipment | 23 | €884 | €343 | -€542 | -61.2% |
| Furniture and vehicles | 24 | €1,431 | €0 | -€1,431 | -100% |
| Current assets | 29/58 | €73,477 | €88,614 | +€15,137 | +20.6% |
| Amounts receivable within one year | 40/41 | €26,895 | €18,405 | -€8,490 | -31.6% |
| Trade receivables | 40 | €26,655 | €16,655 | -€10,000 | -37.5% |
| Other amounts receivable | 41 | €240 | €1,750 | +€1,510 | +629% |
| Cash at bank and in hand | 54/58 | €43,703 | €67,227 | +€23,524 | +53.8% |
| Deferred charges and accrued income | 490/1 | €2,879 | €2,982 | +€103 | +3.6% |
| Total equity and liabilities | 10/49 | €75,792 | €88,957 | +€13,165 | +17.4% |
| Equity | 10/15 | -€15,028 | €8,792 | +€23,820 | |
| Contributions | 10/11 | €18,900 | €18,900 | = | 0.0% |
| Reserves | 13 | €1,890 | €1,890 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,890 | €1,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,818 | -€11,998 | +€23,820 | +66.5% |
| Amounts payable | 17/49 | €90,821 | €80,165 | -€10,656 | -11.7% |
| Amounts payable after more than one year | 17 | €83,000 | €66,000 | -€17,000 | -20.5% |
| Financial debts | 170/4 | €83,000 | €66,000 | -€17,000 | -20.5% |
| Amounts payable within one year | 42/48 | €7,821 | €14,165 | +€6,344 | +81.1% |
| Trade debts | 44 | €1,370 | €1,604 | +€234 | +17.0% |
| Suppliers | 440/4 | €1,370 | €1,604 | +€234 | +17.0% |
| Taxes, remuneration and social security | 45 | €1,205 | €7,316 | +€6,111 | +507% |
| Taxes | 450/3 | €1,205 | €7,316 | +€6,111 | +507% |
| Other amounts payable | 47/48 | €5,245 | €5,245 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,938 | €1,972 | -€966 | -32.9% |
| Other operating charges | 640/8 | €551 | €520 | -€32 | -5.7% |
| Gross operating margin | 9900 | €41,834 | €34,505 | -€7,329 | -17.5% |
| Operating profit (loss) | 9901 | €38,345 | €32,013 | -€6,331 | -16.5% |
| Financial income | 75/76B | €34 | €133 | +€99 | +289% |
| Recurring financial income | 75 | €34 | €133 | +€99 | +289% |
| Financial charges | 65/66B | €60 | €39 | -€21 | -35.0% |
| Recurring financial charges | 65 | €60 | €39 | -€21 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €38,319 | €32,107 | -€6,212 | -16.2% |
| Income taxes | 67/77 | €9,759 | €8,287 | -€1,472 | -15.1% |
| Profit (loss) for the period | 9904 | €28,560 | €23,820 | -€4,740 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,560 | €23,820 | -€4,740 | -16.6% |
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 17 October 2026 via checked.be.