MICHIELS REAL ESTATE: what changed
What changed
MICHIELS REAL ESTATE
NACE 46.839, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€29,092
2024 · -€5,381+€34,474
Equity
€315,940
2024 · €286,848+€29,092
Cash
€120
2024 · €73+€47
Balance sheet total
€386,984
2024 · €389,675-€2,691
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward +€29,092
up €29,092 (+22.0%), from -€132,024 to -€102,932
- Accrued charges and deferred income -€20,026
down €20,026 (-100%), from €20,026 to €0
- Trade debts -€11,757
down €11,757 (-100%), from €11,757 to €0
Income statement
- Financial income +€20,026
new in 2025: €20,026
- Gross operating margin +€12,822
up €12,822, from -€2,591 to €10,231
- Financial charges -€1,708
down €1,708 (-77.7%), from €2,199 to €491
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.
Result 2024
-€5,381
Gross operating margin
+€12,822
Other operating charges
-€83
Financial income
+€20,026
Financial charges
+€1,708
Result 2025
€29,092
raises the resultlowers the result
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.
From operations
+€47
Investment
€0
Financing
€0
Cash 2024
€73
From operations (derived)
+€47
Net result for the year
+€29,092
Receivables within one year
+€2,738
Trade debts
-€11,757
Accrued charges and deferred income
-€20,026
Cash 2025
€120
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €389,675 | €386,984 | -€2,691 | -0.7% |
| Fixed assets | 21/28 | €381,938 | €381,938 | = | 0.0% |
| Tangible fixed assets | 22/27 | €381,938 | €381,938 | = | 0.0% |
| Land and buildings | 22 | €48,575 | €48,575 | = | 0.0% |
| Other tangible fixed assets | 26 | €333,363 | €333,363 | = | 0.0% |
| Current assets | 29/58 | €7,737 | €5,046 | -€2,691 | -34.8% |
| Amounts receivable within one year | 40/41 | €7,665 | €4,926 | -€2,738 | -35.7% |
| Other amounts receivable | 41 | €7,665 | €4,926 | -€2,738 | -35.7% |
| Cash at bank and in hand | 54/58 | €73 | €120 | +€47 | +64.9% |
| Total equity and liabilities | 10/49 | €389,675 | €386,984 | -€2,691 | -0.7% |
| Equity | 10/15 | €286,848 | €315,940 | +€29,092 | +10.1% |
| Contributions | 10/11 | €418,872 | €418,872 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,024 | -€102,932 | +€29,092 | +22.0% |
| Amounts payable | 17/49 | €102,828 | €71,044 | -€31,784 | -30.9% |
| Amounts payable after more than one year | 17 | €58,244 | €58,244 | = | 0.0% |
| Other amounts payable | 178/9 | €58,244 | €58,244 | = | 0.0% |
| Amounts payable within one year | 42/48 | €24,557 | €12,800 | -€11,757 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €11,757 | €0 | -€11,757 | -100% |
| Suppliers | 440/4 | €11,757 | €0 | -€11,757 | -100% |
| Other amounts payable | 47/48 | €12,800 | €12,800 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €20,026 | €0 | -€20,026 | -100% |
| Other operating charges | 640/8 | €591 | €674 | +€83 | +14.0% |
| Gross operating margin | 9900 | -€2,591 | €10,231 | +€12,822 | |
| Operating profit (loss) | 9901 | -€3,182 | €9,557 | +€12,739 | |
| Financial income | 75/76B | - | €20,026 | +€20,026 | |
| Recurring financial income | 75 | - | €20,026 | +€20,026 | |
| Financial charges | 65/66B | €2,199 | €491 | -€1,708 | -77.7% |
| Recurring financial charges | 65 | €2,199 | €491 | -€1,708 | -77.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,381 | €29,092 | +€34,474 | |
| Profit (loss) for the period | 9904 | -€5,381 | €29,092 | +€34,474 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,381 | €29,092 | +€34,474 |
Next steps
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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 2 November 2026 via checked.be.