MICHIELS SURGERY: 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 SURGERY
Largest movements
- Cash +€54,832
up €54,832 (+122%), from €44,811 to €99,643
mainly Net result for the year (+€67,990) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Tangible fixed assets -€5,869
down €5,869 (-7.3%), from €80,340 to €74,471
of which Land and buildings: -€4,462
- Receivables within one year +€4,975
up €4,975 (+8.7%), from €57,174 to €62,149
of which Trade receivables: +€6,556
- Other debts +€4,108
up €4,108 (+6.3%), from €65,026 to €69,135
- Gross operating margin +€6,195
up €6,195 (+6.3%), from €98,248 to €104,443
- Taxes +€1,431
up €1,431 (+6.2%), from €22,923 to €24,354
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €233,145 | €239,047 | +€5,902 | +2.5% |
| Fixed assets | 21/28 | €80,340 | €74,471 | -€5,869 | -7.3% |
| Tangible fixed assets | 22/27 | €80,340 | €74,471 | -€5,869 | -7.3% |
| Land and buildings | 22 | €76,012 | €71,549 | -€4,462 | -5.9% |
| Furniture and vehicles | 24 | €4,328 | €2,922 | -€1,406 | -32.5% |
| Current assets | 29/58 | €152,805 | €164,576 | +€11,770 | +7.7% |
| Amounts receivable within one year | 40/41 | €57,174 | €62,149 | +€4,975 | +8.7% |
| Trade receivables | 40 | €39,948 | €46,504 | +€6,556 | +16.4% |
| Other amounts receivable | 41 | €17,227 | €15,646 | -€1,581 | -9.2% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €44,811 | €99,643 | +€54,832 | +122% |
| Deferred charges and accrued income | 490/1 | €820 | €2,783 | +€1,963 | +239% |
| Total equity and liabilities | 10/49 | €233,145 | €239,047 | +€5,902 | +2.5% |
| Equity | 10/15 | €56,732 | €56,722 | -€10 | 0.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,731 | €56,721 | -€10 | 0.0% |
| Amounts payable | 17/49 | €176,413 | €182,325 | +€5,911 | +3.4% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €76,413 | €82,325 | +€5,911 | +7.7% |
| Trade debts | 44 | €887 | €1,330 | +€443 | +50.0% |
| Suppliers | 440/4 | €887 | €1,330 | +€443 | +50.0% |
| Taxes, remuneration and social security | 45 | €10,500 | €11,860 | +€1,360 | +13.0% |
| Taxes | 450/3 | €10,500 | €11,700 | +€1,200 | +11.4% |
| Remuneration and social security | 454/9 | - | €160 | +€160 | |
| Other amounts payable | 47/48 | €65,026 | €69,135 | +€4,108 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,677 | €5,869 | -€808 | -12.1% |
| Other operating charges | 640/8 | €1,246 | €1,351 | +€105 | +8.4% |
| Gross operating margin | 9900 | €98,248 | €104,443 | +€6,195 | +6.3% |
| Operating profit (loss) | 9901 | €90,325 | €97,223 | +€6,898 | +7.6% |
| Financial income | 75/76B | - | €318 | +€318 | |
| Recurring financial income | 75 | - | €318 | +€318 | |
| Financial charges | 65/66B | €5,215 | €5,196 | -€19 | -0.4% |
| Recurring financial charges | 65 | €5,215 | €5,196 | -€19 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €85,110 | €92,345 | +€7,235 | +8.5% |
| Income taxes | 67/77 | €22,923 | €24,354 | +€1,431 | +6.2% |
| Profit (loss) for the period | 9904 | €62,187 | €67,990 | +€5,803 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,187 | €67,990 | +€5,803 | +9.3% |
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 17 October 2026 via checked.be.