MICHIELS AGRO CONSULT: what changed
MICHIELS AGRO CONSULT
Largest movements
- Tangible fixed assets +€81,332
up €81,332 (+26.4%), from €307,509 to €388,841
of which Land and buildings: +€97,835
- Current investments +€54,499
up €54,499 (+10,862%), from €502 to €55,001
- Cash -€35,263
down €35,263 (-68.9%), from €51,207 to €15,944
mainly Investment in fixed assets (net) (-€105,996) and Current investments (-€54,499)
- Receivables within one year -€15,375
down €15,375 (-31.8%), from €48,424 to €33,049
of which Trade receivables: -€20,328
- Debts after one year +€61,977
up €61,977 (+102%), from €60,983 to €122,960
- Reserves +€31,000
up €31,000 (+15.2%), from €203,351 to €234,351
of which Distributable reserves: +€31,000
- Tax, wage and social debts -€18,531
down €18,531 (-66.3%), from €27,940 to €9,409
- Other debts +€10,840
up €10,840 (+137%), from €7,916 to €18,756
- Gross operating margin -€26,049
down €26,049 (-19.1%), from €136,715 to €110,665
- Taxes -€12,818
down €12,818 (-34.1%), from €37,588 to €24,770
- Depreciation +€6,010
up €6,010 (+32.2%), from €18,654 to €24,664
- Financial charges +€2,796
up €2,796 (+102%), from €2,731 to €5,528
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 | €409,048 | €495,383 | +€86,336 | +21.1% |
| Fixed assets | 21/28 | €307,509 | €388,841 | +€81,332 | +26.4% |
| Tangible fixed assets | 22/27 | €307,509 | €388,841 | +€81,332 | +26.4% |
| Land and buildings | 22 | €243,140 | €340,975 | +€97,835 | +40.2% |
| Plant, machinery and equipment | 23 | €2,501 | €2,020 | -€482 | -19.3% |
| Furniture and vehicles | 24 | €26,484 | €16,691 | -€9,792 | -37.0% |
| Other tangible fixed assets | 26 | €35,384 | €29,155 | -€6,230 | -17.6% |
| Current assets | 29/58 | €101,538 | €106,543 | +€5,004 | +4.9% |
| Amounts receivable within one year | 40/41 | €48,424 | €33,049 | -€15,375 | -31.8% |
| Trade receivables | 40 | €48,308 | €27,980 | -€20,328 | -42.1% |
| Other amounts receivable | 41 | €115 | €5,068 | +€4,953 | +4,289% |
| Current investments | 50/53 | €502 | €55,001 | +€54,499 | +10,862% |
| Cash at bank and in hand | 54/58 | €51,207 | €15,944 | -€35,263 | -68.9% |
| Deferred charges and accrued income | 490/1 | €1,406 | €2,550 | +€1,144 | +81.3% |
| Total equity and liabilities | 10/49 | €409,048 | €495,383 | +€86,336 | +21.1% |
| Equity | 10/15 | €283,681 | €314,835 | +€31,154 | +11.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €203,351 | €234,351 | +€31,000 | +15.2% |
| Tax-exempt reserves | 132 | €5,691 | €5,691 | = | 0.0% |
| Distributable reserves | 133 | €197,660 | €228,660 | +€31,000 | +15.7% |
| Profit (loss) carried forward | 14 | €67,930 | €68,084 | +€154 | +0.2% |
| Amounts payable | 17/49 | €125,367 | €180,548 | +€55,182 | +44.0% |
| Amounts payable after more than one year | 17 | €60,983 | €122,960 | +€61,977 | +102% |
| Financial debts | 170/4 | €60,983 | €122,960 | +€61,977 | +102% |
| Amounts payable within one year | 42/48 | €64,383 | €57,588 | -€6,795 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €26,940 | €28,023 | +€1,084 | +4.0% |
| Financial debts | 43 | €15 | €17 | +€2 | +13.3% |
| Credit institutions | 430/8 | €15 | €17 | +€2 | +13.3% |
| Trade debts | 44 | €1,573 | €1,383 | -€190 | -12.1% |
| Suppliers | 440/4 | €1,573 | €1,383 | -€190 | -12.1% |
| Taxes, remuneration and social security | 45 | €27,940 | €9,409 | -€18,531 | -66.3% |
| Taxes | 450/3 | €27,940 | €9,409 | -€18,531 | -66.3% |
| Other amounts payable | 47/48 | €7,916 | €18,756 | +€10,840 | +137% |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,654 | €24,664 | +€6,010 | +32.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,154 | +€1,154 | |
| Other operating charges | 640/8 | €2,912 | €2,567 | -€345 | -11.9% |
| Gross operating margin | 9900 | €136,715 | €110,665 | -€26,049 | -19.1% |
| Operating profit (loss) | 9901 | €115,148 | €82,280 | -€32,868 | -28.5% |
| Financial income | 75/76B | €12 | €4 | -€8 | -65.7% |
| Recurring financial income | 75 | €12 | €4 | -€8 | -65.7% |
| Financial charges | 65/66B | €2,731 | €5,528 | +€2,796 | +102% |
| Recurring financial charges | 65 | €2,731 | €5,528 | +€2,796 | +102% |
| Profit (loss) for the period before taxes | 9903 | €112,429 | €76,757 | -€35,672 | -31.7% |
| Income taxes | 67/77 | €37,588 | €24,770 | -€12,818 | -34.1% |
| Profit (loss) for the period | 9904 | €74,841 | €51,987 | -€22,854 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €74,841 | €51,987 | -€22,854 | -30.5% |
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 3 November 2026 via checked.be.