Michiels Engineering: 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 Engineering
Largest movements
- Cash +€67,273
up €67,273 (+422.1%), from €15,936 to €83,209
mainly Net result for the year (+€41,119) and Tax, wage and social debts (+€12,159)
- Receivables within one year -€10,214
down €10,214 (-31.8%), from €32,115 to €21,901
- Profit (loss) carried forward +€41,119
up €41,119 (+216.4%), from €19,003 to €60,122
- Tax, wage and social debts +€12,159
up €12,159 (+156.0%), from €7,793 to €19,953
- Other debts +€3,172
up €3,172 (+17.2%), from €18,480 to €21,652
- Gross operating margin +€27,002
up €27,002 (+105.6%), from €25,580 to €52,581
- Taxes +€5,502
up €5,502 (+105.8%), from €5,200 to €10,702
From the 2024 result to the 2025 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 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,291 | €105,755 | +€56,464 | +114.6% |
| Fixed assets | 21/28 | €1,239 | €645 | -€594 | -48.0% |
| Tangible fixed assets | 22/27 | €1,239 | €645 | -€594 | -48.0% |
| Furniture and vehicles | 24 | €1,239 | €645 | -€594 | -48.0% |
| Current assets | 29/58 | €48,052 | €105,110 | +€57,058 | +118.7% |
| Amounts receivable within one year | 40/41 | €32,115 | €21,901 | -€10,214 | -31.8% |
| Trade receivables | 40 | €32,115 | €21,901 | -€10,214 | -31.8% |
| Cash at bank and in hand | 54/58 | €15,936 | €83,209 | +€67,273 | +422.1% |
| Total equity and liabilities | 10/49 | €49,291 | €105,755 | +€56,464 | +114.6% |
| Equity | 10/15 | €22,003 | €63,122 | +€41,119 | +186.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,003 | €60,122 | +€41,119 | +216.4% |
| Amounts payable | 17/49 | €27,288 | €42,633 | +€15,345 | +56.2% |
| Amounts payable within one year | 42/48 | €27,288 | €42,633 | +€15,345 | +56.2% |
| Trade debts | 44 | €1,015 | €1,029 | +€14 | +1.3% |
| Suppliers | 440/4 | €1,015 | €1,029 | +€14 | +1.3% |
| Taxes, remuneration and social security | 45 | €7,793 | €19,953 | +€12,159 | +156.0% |
| Taxes | 450/3 | €7,793 | €19,953 | +€12,159 | +156.0% |
| Other amounts payable | 47/48 | €18,480 | €21,652 | +€3,172 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €544 | €594 | +€50 | +9.3% |
| Gross operating margin | 9900 | €25,580 | €52,581 | +€27,002 | +105.6% |
| Operating profit (loss) | 9901 | €25,036 | €51,987 | +€26,951 | +107.7% |
| Financial charges | 65/66B | - | €165 | +€165 | |
| Recurring financial charges | 65 | - | €165 | +€165 | |
| Profit (loss) for the period before taxes | 9903 | €25,036 | €51,821 | +€26,786 | +107.0% |
| Income taxes | 67/77 | €5,200 | €10,702 | +€5,502 | +105.8% |
| Profit (loss) for the period | 9904 | €19,836 | €41,119 | +€21,284 | +107.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,836 | €41,119 | +€21,284 | +107.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.