Michiel Declerck: what changed
What changed
Michiel Declerck
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€34,889
2025 · €31,036+€3,853
Equity
€77,489
2025 · €46,036+€31,453
Cash
€70,468
2025 · €69,846+€621
Balance sheet total
€100,308
2025 · €73,712+€26,596
Largest movements
Assets
- Receivables within one year +€16,915
new in 2026: €16,915
of which Other amounts receivable: +€16,812
- Tangible fixed assets +€5,927
up €5,927 (+153%), from €3,866 to €9,793
of which Other tangible fixed assets: +€6,246
- Deferred charges and accrued income +€3,133
new in 2026: €3,133
Equity and liabilities
- Reserves +€31,453
up €31,453 (+101%), from €31,036 to €62,489
- Accrued charges and deferred income -€2,344
down €2,344 (-100%), from €2,344 to €0
- Other debts -€2,147
down €2,147 (-100%), from €2,147 to €0
Income statement
- Gross operating margin +€4,403
up €4,403 (+9.8%), from €44,951 to €49,354
- Taxes -€2,375
down €2,375 (-19.3%), from €12,278 to €9,903
- Depreciation +€1,809
up €1,809 (+556%), from €326 to €2,135
- Financial charges +€669
up €669 (+49.5%), from €1,351 to €2,020
- Other operating charges +€580
new in 2026: €580
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€31,036
Gross operating margin
+€4,403
Depreciation
-€1,809
Other operating charges
-€580
Financial income
+€133
Financial charges
-€669
Taxes
+€2,375
Result 2026
€34,889
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€12,119
Investment
-€8,062
Financing
-€3,436
Cash 2025
€69,846
From operations (derived)
+€12,119
Net result for the year
+€34,889
Depreciation
+€2,135
Receivables within one year
-€16,915
Deferred charges and accrued income
-€3,133
Trade debts
-€576
Tax, wage and social debts
+€211
Other debts
-€2,147
Accrued charges and deferred income
-€2,344
Investment (derived)
-€8,062
Investment in fixed assets (net)
-€8,062
Financing
-€3,436
Contributions, distributions and other
-€3,436
Cash 2026
€70,468
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,712 | €100,308 | +€26,596 | +36.1% |
| Fixed assets | 21/28 | €3,866 | €9,793 | +€5,927 | +153% |
| Tangible fixed assets | 22/27 | €3,866 | €9,793 | +€5,927 | +153% |
| Furniture and vehicles | 24 | €778 | €459 | -€319 | -41.0% |
| Other tangible fixed assets | 26 | €3,088 | €9,333 | +€6,246 | +202% |
| Current assets | 29/58 | €69,846 | €90,516 | +€20,669 | +29.6% |
| Amounts receivable within one year | 40/41 | - | €16,915 | +€16,915 | |
| Trade receivables | 40 | - | €103 | +€103 | |
| Other amounts receivable | 41 | - | €16,812 | +€16,812 | |
| Cash at bank and in hand | 54/58 | €69,846 | €70,468 | +€621 | +0.9% |
| Deferred charges and accrued income | 490/1 | - | €3,133 | +€3,133 | |
| Total equity and liabilities | 10/49 | €73,712 | €100,308 | +€26,596 | +36.1% |
| Equity | 10/15 | €46,036 | €77,489 | +€31,453 | +68.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €31,036 | €62,489 | +€31,453 | +101% |
| Distributable reserves | 133 | €31,036 | €62,489 | +€31,453 | +101% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €27,676 | €22,819 | -€4,857 | -17.5% |
| Amounts payable within one year | 42/48 | €25,331 | €22,819 | -€2,512 | -9.9% |
| Trade debts | 44 | €1,591 | €1,015 | -€576 | -36.2% |
| Suppliers | 440/4 | €1,591 | €1,015 | -€576 | -36.2% |
| Taxes, remuneration and social security | 45 | €21,594 | €21,804 | +€211 | +1.0% |
| Taxes | 450/3 | €21,594 | €21,804 | +€211 | +1.0% |
| Other amounts payable | 47/48 | €2,147 | €0 | -€2,147 | -100% |
| Accrued charges and deferred income | 492/3 | €2,344 | €0 | -€2,344 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326 | €2,135 | +€1,809 | +556% |
| Other operating charges | 640/8 | - | €580 | +€580 | |
| Gross operating margin | 9900 | €44,951 | €49,354 | +€4,403 | +9.8% |
| Operating profit (loss) | 9901 | €44,626 | €46,639 | +€2,013 | +4.5% |
| Financial income | 75/76B | €40 | €173 | +€133 | +333% |
| Recurring financial income | 75 | €40 | €173 | +€133 | +333% |
| Financial charges | 65/66B | €1,351 | €2,020 | +€669 | +49.5% |
| Recurring financial charges | 65 | €1,351 | €2,020 | +€669 | +49.5% |
| Profit (loss) for the period before taxes | 9903 | €43,314 | €44,792 | +€1,478 | +3.4% |
| Income taxes | 67/77 | €12,278 | €9,903 | -€2,375 | -19.3% |
| Profit (loss) for the period | 9904 | €31,036 | €34,889 | +€3,853 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,036 | €34,889 | +€3,853 | +12.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.