MICHIELS: what changed
Two fiscal 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.
MICHIELS
Largest movements
- Receivables within one year +€12,000
up €12,000 (+80.0%), from €15,000 to €27,000
of which Other amounts receivable: +€12,000
- Tangible fixed assets -€11,390
down €11,390 (-6.5%), from €175,399 to €164,010
- Cash +€3,120
up €3,120 (+22.1%), from €14,106 to €17,225
mainly Depreciation (+€11,390) and Trade debts (+€5,894)
- Trade debts +€5,894
up €5,894 (+214.9%), from €2,742 to €8,636
- Gross operating margin -€2,803
down €2,803 (-14.6%), from €19,216 to €16,413
- Financial income -€379
no longer reported in 2024 (was €379)
- Other operating charges +€245
up €245 (+3.6%), from €6,875 to €7,121
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €228,953 | €232,683 | +€3,730 | +1.6% |
| Formation expenses | 20 | €1,410 | €1,410 | = | 0.0% |
| Fixed assets | 21/28 | €177,481 | €166,092 | -€11,390 | -6.4% |
| Tangible fixed assets | 22/27 | €175,399 | €164,010 | -€11,390 | -6.5% |
| Land and buildings | 22 | €175,399 | €164,010 | -€11,390 | -6.5% |
| Financial fixed assets | 28 | €2,082 | €2,082 | = | 0.0% |
| Current assets | 29/58 | €50,061 | €65,181 | +€15,120 | +30.2% |
| Amounts receivable within one year | 40/41 | €15,000 | €27,000 | +€12,000 | +80.0% |
| Trade receivables | 40 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 41 | - | €12,000 | +€12,000 | |
| Cash at bank and in hand | 54/58 | €14,106 | €17,225 | +€3,120 | +22.1% |
| Deferred charges and accrued income | 490/1 | €20,956 | €20,956 | = | 0.0% |
| Total equity and liabilities | 10/49 | €228,953 | €232,683 | +€3,730 | +1.6% |
| Equity | 10/15 | €138,979 | €136,815 | -€2,164 | -1.6% |
| Contributions | 10/11 | €186,040 | €186,040 | = | 0.0% |
| Capital | 10 | €186,040 | €186,040 | = | 0.0% |
| Issued capital | 100 | €186,040 | €186,040 | = | 0.0% |
| Reserves | 13 | €42,581 | €42,581 | = | 0.0% |
| Non-distributable reserves | 130/1 | €42,581 | €42,581 | = | 0.0% |
| Legal reserve | 130 | €42,581 | €42,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,642 | -€91,806 | -€2,164 | -2.4% |
| Amounts payable | 17/49 | €89,974 | €95,868 | +€5,894 | +6.6% |
| Amounts payable within one year | 42/48 | €89,974 | €95,868 | +€5,894 | +6.6% |
| Trade debts | 44 | €2,742 | €8,636 | +€5,894 | +214.9% |
| Suppliers | 440/4 | €2,742 | €8,636 | +€5,894 | +214.9% |
| Other amounts payable | 47/48 | €87,232 | €87,232 | = | 0.0% |
| Non-recurring operating income | 76A | €8,394 | - | -€8,394 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,390 | €11,390 | -€0 | 0.0% |
| Other operating charges | 640/8 | €6,875 | €7,121 | +€245 | +3.6% |
| Gross operating margin | 9900 | €19,216 | €16,413 | -€2,803 | -14.6% |
| Operating profit (loss) | 9901 | €950 | -€2,098 | -€3,048 | |
| Financial income | 75/76B | €379 | - | -€379 | |
| Recurring financial income | 75 | €379 | - | -€379 | |
| Financial charges | 65/66B | €43 | €66 | +€23 | +54.4% |
| Recurring financial charges | 65 | €43 | €66 | +€23 | +54.4% |
| Profit (loss) for the period before taxes | 9903 | €1,287 | -€2,164 | -€3,450 | |
| Profit (loss) for the period | 9904 | €1,287 | -€2,164 | -€3,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,287 | -€2,164 | -€3,450 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.