Michiels Advisory: 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.
Michiels Advisory
Largest movements
- Tangible fixed assets +€31,489
up €31,489 (+527.8%), from €5,966 to €37,455
- Receivables within one year +€5,324
up €5,324 (+122.2%), from €4,356 to €9,680
- Cash -€3,658
down €3,658 (-9.4%), from €38,828 to €35,170
mainly Investment in fixed assets (net) (-€38,652) and Receivables within one year (-€5,324)
- Profit (loss) carried forward +€33,030
up €33,030 (+95.9%), from €34,440 to €67,470
- Depreciation +€6,751
up €6,751 (+1636.8%), from €412 to €7,164
- Gross operating margin +€6,586
up €6,586 (+15.1%), from €43,645 to €50,231
- Taxes +€965
up €965 (+11.0%), from €8,781 to €9,747
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 | €49,429 | €82,979 | +€33,550 | +67.9% |
| Fixed assets | 21/28 | €5,966 | €37,455 | +€31,489 | +527.8% |
| Tangible fixed assets | 22/27 | €5,966 | €37,455 | +€31,489 | +527.8% |
| Furniture and vehicles | 24 | €5,966 | €37,455 | +€31,489 | +527.8% |
| Current assets | 29/58 | €43,463 | €45,524 | +€2,062 | +4.7% |
| Amounts receivable within one year | 40/41 | €4,356 | €9,680 | +€5,324 | +122.2% |
| Trade receivables | 40 | €4,356 | €9,680 | +€5,324 | +122.2% |
| Cash at bank and in hand | 54/58 | €38,828 | €35,170 | -€3,658 | -9.4% |
| Deferred charges and accrued income | 490/1 | €278 | €674 | +€396 | +142.4% |
| Total equity and liabilities | 10/49 | €49,429 | €82,979 | +€33,550 | +67.9% |
| Equity | 10/15 | €37,440 | €70,470 | +€33,030 | +88.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,440 | €67,470 | +€33,030 | +95.9% |
| Amounts payable | 17/49 | €11,989 | €12,509 | +€520 | +4.3% |
| Amounts payable within one year | 42/48 | €11,989 | €12,509 | +€520 | +4.3% |
| Trade debts | 44 | €278 | €847 | +€569 | +204.5% |
| Suppliers | 440/4 | €278 | €847 | +€569 | +204.5% |
| Taxes, remuneration and social security | 45 | €11,660 | €11,611 | -€49 | -0.4% |
| Taxes | 450/3 | €11,660 | €11,611 | -€49 | -0.4% |
| Other amounts payable | 47/48 | €50 | €50 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €412 | €7,164 | +€6,751 | +1636.8% |
| Other operating charges | 640/8 | - | €240 | +€240 | |
| Gross operating margin | 9900 | €43,645 | €50,231 | +€6,586 | +15.1% |
| Operating profit (loss) | 9901 | €43,233 | €42,827 | -€406 | -0.9% |
| Financial charges | 65/66B | €11 | €50 | +€39 | +339.7% |
| Recurring financial charges | 65 | €11 | €50 | +€39 | +339.7% |
| Profit (loss) for the period before taxes | 9903 | €43,221 | €42,777 | -€444 | -1.0% |
| Income taxes | 67/77 | €8,781 | €9,747 | +€965 | +11.0% |
| Profit (loss) for the period | 9904 | €34,440 | €33,030 | -€1,410 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,440 | €33,030 | -€1,410 | -4.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.