MICHELLE JANE: 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.
MICHELLE JANE
Largest movements
- Receivables within one year -€615
down €615 (-7.0%), from €8,848 to €8,232
- Profit (loss) carried forward +€3,145
up €3,145 (+3.9%), from -€80,516 to -€77,370
- Trade debts -€2,714
down €2,714 (-85.1%), from €3,189 to €475
- Other debts -€1,321
down €1,321 (-1.2%), from €111,859 to €110,538
- Depreciation -€11,935
down €11,935 (-98.0%), from €12,175 to €240
- Gross operating margin +€3,792
up €3,792 (+819%), from €463 to €4,255
- Taxes +€93
up €93 (+68.2%), from €136 to €229
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 | €53,082 | €52,193 | -€889 | -1.7% |
| Fixed assets | 21/28 | €494 | €255 | -€240 | -48.5% |
| Tangible fixed assets | 22/27 | €494 | €255 | -€240 | -48.5% |
| Plant, machinery and equipment | 23 | €494 | €255 | -€240 | -48.5% |
| Current assets | 29/58 | €52,588 | €51,938 | -€650 | -1.2% |
| Stocks and contracts in progress | 3 | €43,050 | €43,050 | = | 0.0% |
| Stocks | 30/36 | €43,050 | €43,050 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,848 | €8,232 | -€615 | -7.0% |
| Other amounts receivable | 41 | €8,848 | €8,232 | -€615 | -7.0% |
| Cash at bank and in hand | 54/58 | €690 | €656 | -€35 | -5.0% |
| Total equity and liabilities | 10/49 | €53,082 | €52,193 | -€889 | -1.7% |
| Equity | 10/15 | -€61,966 | -€58,820 | +€3,145 | +5.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,516 | -€77,370 | +€3,145 | +3.9% |
| Amounts payable | 17/49 | €115,048 | €111,013 | -€4,035 | -3.5% |
| Amounts payable within one year | 42/48 | €115,048 | €111,013 | -€4,035 | -3.5% |
| Trade debts | 44 | €3,189 | €475 | -€2,714 | -85.1% |
| Suppliers | 440/4 | €3,189 | €475 | -€2,714 | -85.1% |
| Other amounts payable | 47/48 | €111,859 | €110,538 | -€1,321 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,175 | €240 | -€11,935 | -98.0% |
| Other operating charges | 640/8 | €502 | €507 | +€5 | +1.0% |
| Gross operating margin | 9900 | €463 | €4,255 | +€3,792 | +819% |
| Operating profit (loss) | 9901 | -€12,214 | €3,508 | +€15,722 | |
| Financial charges | 65/66B | €112 | €134 | +€22 | +19.7% |
| Recurring financial charges | 65 | €112 | €134 | +€22 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,326 | €3,374 | +€15,700 | |
| Income taxes | 67/77 | €136 | €229 | +€93 | +68.2% |
| Profit (loss) for the period | 9904 | -€12,462 | €3,145 | +€15,607 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,462 | €3,145 | +€15,607 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.