MICHIELS INDUSTRIES: 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.
What changed
MICHIELS INDUSTRIES
NACE 73.300, Public relations and communication consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€57,805
2024 · €122,470-€64,665
Equity
€296,048
2024 · €408,243-€112,195
Cash
€4,212
2024 · €863+€3,349
Balance sheet total
€1.0m
2024 · €1.0m-€13,492
Largest movements
Assets
- Tangible fixed assets -€29,803
down €29,803 (-4.4%), from €675,797 to €645,994
- Receivables within one year +€12,772
up €12,772 (+5.1%), from €250,709 to €263,481
of which Other amounts receivable: +€51,751
Equity and liabilities
- Reserves -€118,000
down €118,000 (-69.4%), from €170,000 to €52,000
- Other debts +€100,280
up €100,280 (+95.8%), from €104,684 to €204,964
- Provisions +€34,349
new in 2025: €34,349
- Debts after one year -€33,587
down €33,587 (-7.3%), from €458,302 to €424,715
of which Financial debts: -€34,577
Income statement
- Provisions +€34,349
new in 2025: €34,349
- Gross operating margin -€34,282
down €34,282 (-16.7%), from €204,825 to €170,543
- Taxes -€3,470
down €3,470 (-9.7%), from €35,633 to €32,162
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.
Result 2024
€122,470
Gross operating margin
-€34,282
Staff costs
-€250
Provisions
-€34,349
Other operating charges
-€987
Financial income
+€0
Financial charges
+€1,733
Taxes
+€3,470
Result 2025
€57,805
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€211,214
Investment
-€5,000
Financing
-€202,865
Cash 2024
€863
From operations (derived)
+€211,214
Net result for the year
+€57,805
Depreciation
+€29,803
Receivables within one year
-€12,772
Deferred charges and accrued income
+€4,809
Provisions
+€34,349
Trade debts
+€137
Tax, wage and social debts
-€1,028
Other debts
+€100,280
Accrued charges and deferred income
-€2,169
Investment (derived)
-€5,000
Current investments
-€5,000
Financing
-€202,865
Debts after one year
-€33,587
Current portion of long-term debt
+€721
Contributions, distributions and other
-€170,000
Cash 2025
€4,212
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,034,408 | €1,020,916 | -€13,492 | -1.3% |
| Fixed assets | 21/28 | €777,547 | €747,744 | -€29,803 | -3.8% |
| Tangible fixed assets | 22/27 | €675,797 | €645,994 | -€29,803 | -4.4% |
| Land and buildings | 22 | €675,797 | €645,994 | -€29,803 | -4.4% |
| Financial fixed assets | 28 | €101,750 | €101,750 | = | 0.0% |
| Current assets | 29/58 | €256,861 | €273,172 | +€16,311 | +6.4% |
| Amounts receivable within one year | 40/41 | €250,709 | €263,481 | +€12,772 | +5.1% |
| Trade receivables | 40 | €58,356 | €19,376 | -€38,979 | -66.8% |
| Other amounts receivable | 41 | €192,354 | €244,105 | +€51,751 | +26.9% |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €863 | €4,212 | +€3,349 | +388% |
| Deferred charges and accrued income | 490/1 | €5,288 | €479 | -€4,809 | -90.9% |
| Total equity and liabilities | 10/49 | €1,034,408 | €1,020,916 | -€13,492 | -1.3% |
| Equity | 10/15 | €408,243 | €296,048 | -€112,195 | -27.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €170,000 | €52,000 | -€118,000 | -69.4% |
| Distributable reserves | 133 | €170,000 | €52,000 | -€118,000 | -69.4% |
| Profit (loss) carried forward | 14 | €236,243 | €242,048 | +€5,805 | +2.5% |
| Provisions and deferred taxes | 16 | - | €34,349 | +€34,349 | |
| Provisions for liabilities and charges | 160/5 | - | €34,349 | +€34,349 | |
| Other liabilities and charges | 164/5 | - | €34,349 | +€34,349 | |
| Amounts payable | 17/49 | €626,165 | €690,519 | +€64,354 | +10.3% |
| Amounts payable after more than one year | 17 | €458,302 | €424,715 | -€33,587 | -7.3% |
| Financial debts | 170/4 | €453,332 | €418,755 | -€34,577 | -7.6% |
| Other amounts payable | 178/9 | €4,970 | €5,960 | +€990 | +19.9% |
| Amounts payable within one year | 42/48 | €165,684 | €265,794 | +€100,110 | +60.4% |
| Current portion of amounts payable after more than one year | 42 | €33,855 | €34,577 | +€721 | +2.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,866 | €3,003 | +€137 | +4.8% |
| Suppliers | 440/4 | €2,866 | €3,003 | +€137 | +4.8% |
| Taxes, remuneration and social security | 45 | €24,278 | €23,250 | -€1,028 | -4.2% |
| Taxes | 450/3 | €24,278 | €23,250 | -€1,028 | -4.2% |
| Other amounts payable | 47/48 | €104,684 | €204,964 | +€100,280 | +95.8% |
| Accrued charges and deferred income | 492/3 | €2,180 | €10 | -€2,169 | -99.5% |
| Non-recurring operating income | 76A | - | €101 | +€101 | |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,803 | €29,803 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €34,349 | +€34,349 | |
| Other operating charges | 640/8 | €3,409 | €4,396 | +€987 | +29.0% |
| Gross operating margin | 9900 | €204,825 | €170,543 | -€34,282 | -16.7% |
| Operating profit (loss) | 9901 | €171,613 | €101,745 | -€69,869 | -40.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €13,510 | €11,778 | -€1,733 | -12.8% |
| Recurring financial charges | 65 | €13,510 | €11,778 | -€1,733 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €158,103 | €89,967 | -€68,136 | -43.1% |
| Income taxes | 67/77 | €35,633 | €32,162 | -€3,470 | -9.7% |
| Profit (loss) for the period | 9904 | €122,470 | €57,805 | -€64,665 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €122,470 | €57,805 | -€64,665 | -52.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.