Michels Marleen: what changed
Michels Marleen
Largest movements
- Receivables within one year +€7,158
up €7,158 (+38.7%), from €18,492 to €25,650
of which Other amounts receivable: +€7,521
- Cash +€7,123
up €7,123 (+41.5%), from €17,174 to €24,297
mainly Net result for the year (+€8,753) and Other debts (+€6,879)
- Current investments -€2,000
down €2,000 (-100%), from €2,000 to €0
- Tangible fixed assets +€868
up €868 (+8.8%), from €9,870 to €10,738
of which Land and buildings: +€1,888
- Reserves +€8,753
up €8,753 (+53.4%), from €16,392 to €25,145
- Other debts +€6,879
up €6,879 (+27.9%), from €24,638 to €31,517
- Tax, wage and social debts -€2,505
down €2,505 (-100%), from €2,505 to €0
of which Remuneration and social security: -€2,376
- Gross operating margin -€8,165
down €8,165 (-35.1%), from €23,285 to €15,120
- Taxes +€902
up €902 (+57.2%), from €1,577 to €2,479
- Depreciation +€347
up €347 (+22.5%), from €1,546 to €1,893
- Financial charges -€328
down €328 (-17.4%), from €1,885 to €1,557
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,536 | €60,684 | +€13,149 | +27.7% |
| Fixed assets | 21/28 | €9,870 | €10,738 | +€868 | +8.8% |
| Tangible fixed assets | 22/27 | €9,870 | €10,738 | +€868 | +8.8% |
| Land and buildings | 22 | €5,807 | €7,696 | +€1,888 | +32.5% |
| Furniture and vehicles | 24 | €4,063 | €3,042 | -€1,021 | -25.1% |
| Current assets | 29/58 | €37,665 | €49,946 | +€12,281 | +32.6% |
| Amounts receivable within one year | 40/41 | €18,492 | €25,650 | +€7,158 | +38.7% |
| Trade receivables | 40 | €11,069 | €10,706 | -€363 | -3.3% |
| Other amounts receivable | 41 | €7,423 | €14,944 | +€7,521 | +101% |
| Current investments | 50/53 | €2,000 | €0 | -€2,000 | -100% |
| Cash at bank and in hand | 54/58 | €17,174 | €24,297 | +€7,123 | +41.5% |
| Total equity and liabilities | 10/49 | €47,536 | €60,684 | +€13,149 | +27.7% |
| Equity | 10/15 | €20,392 | €29,145 | +€8,753 | +42.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €16,392 | €25,145 | +€8,753 | +53.4% |
| Distributable reserves | 133 | €16,392 | €25,145 | +€8,753 | +53.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €27,144 | €31,539 | +€4,396 | +16.2% |
| Amounts payable within one year | 42/48 | €27,144 | €31,517 | +€4,374 | +16.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,505 | €0 | -€2,505 | -100% |
| Taxes | 450/3 | €130 | €0 | -€130 | -100% |
| Remuneration and social security | 454/9 | €2,376 | €0 | -€2,376 | -100% |
| Other amounts payable | 47/48 | €24,638 | €31,517 | +€6,879 | +27.9% |
| Accrued charges and deferred income | 492/3 | - | €22 | +€22 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,546 | €1,893 | +€347 | +22.5% |
| Other operating charges | 640/8 | €620 | €525 | -€95 | -15.3% |
| Gross operating margin | 9900 | €23,285 | €15,120 | -€8,165 | -35.1% |
| Operating profit (loss) | 9901 | €21,119 | €12,702 | -€8,417 | -39.9% |
| Financial income | 75/76B | €0 | €86 | +€86 | +288,200% |
| Recurring financial income | 75 | €0 | €86 | +€86 | +288,200% |
| Financial charges | 65/66B | €1,885 | €1,557 | -€328 | -17.4% |
| Recurring financial charges | 65 | €1,885 | €1,557 | -€328 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €19,234 | €11,232 | -€8,002 | -41.6% |
| Income taxes | 67/77 | €1,577 | €2,479 | +€902 | +57.2% |
| Profit (loss) for the period | 9904 | €17,658 | €8,753 | -€8,905 | -50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,658 | €8,753 | -€8,905 | -50.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.