MICHIELSENS PROPERTIES: 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.
MICHIELSENS PROPERTIES
Largest movements
- Receivables within one year -€145,621
down €145,621 (-98.8%), from €147,415 to €1,794
of which Other amounts receivable: -€145,898
- Cash +€93,278
up €93,278 (+255%), from €36,649 to €129,927
mainly Receivables within one year (+€145,621) and Net result for the year (+€90,771)
- Deferred charges and accrued income +€57,515
new in 2025: €57,515
- Profit (loss) carried forward +€90,771
up €90,771 (+14.1%), from €645,795 to €736,566
- Other debts -€69,847
down €69,847 (-99.8%), from €70,000 to €153
- Tax, wage and social debts -€39,000
down €39,000 (-86.7%), from €45,000 to €6,000
- Trade debts +€13,334
up €13,334 (+78.8%), from €16,921 to €30,254
- Gross operating margin -€46,056
down €46,056 (-20.0%), from €230,248 to €184,192
- Taxes -€18,511
down €18,511 (-41.1%), from €45,000 to €26,489
- Depreciation -€10,949
down €10,949 (-59.6%), from €18,363 to €7,414
- Other operating charges +€7,268
up €7,268 (+13.9%), from €52,156 to €59,423
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 | €959,948 | €957,706 | -€2,242 | -0.2% |
| Fixed assets | 21/28 | €775,884 | €768,470 | -€7,414 | -1.0% |
| Tangible fixed assets | 22/27 | €775,884 | €768,470 | -€7,414 | -1.0% |
| Land and buildings | 22 | €775,884 | €768,470 | -€7,414 | -1.0% |
| Current assets | 29/58 | €184,064 | €189,236 | +€5,172 | +2.8% |
| Amounts receivable within one year | 40/41 | €147,415 | €1,794 | -€145,621 | -98.8% |
| Trade receivables | 40 | - | €277 | +€277 | |
| Other amounts receivable | 41 | €147,415 | €1,517 | -€145,898 | -99.0% |
| Cash at bank and in hand | 54/58 | €36,649 | €129,927 | +€93,278 | +255% |
| Deferred charges and accrued income | 490/1 | - | €57,515 | +€57,515 | |
| Total equity and liabilities | 10/49 | €959,948 | €957,706 | -€2,242 | -0.2% |
| Equity | 10/15 | €828,027 | €918,798 | +€90,771 | +11.0% |
| Contributions | 10/11 | €182,233 | €182,233 | = | 0.0% |
| Profit (loss) carried forward | 14 | €645,795 | €736,566 | +€90,771 | +14.1% |
| Amounts payable | 17/49 | €131,921 | €38,908 | -€93,013 | -70.5% |
| Amounts payable within one year | 42/48 | €131,921 | €36,408 | -€95,513 | -72.4% |
| Trade debts | 44 | €16,921 | €30,254 | +€13,334 | +78.8% |
| Suppliers | 440/4 | €16,921 | €30,254 | +€13,334 | +78.8% |
| Taxes, remuneration and social security | 45 | €45,000 | €6,000 | -€39,000 | -86.7% |
| Taxes | 450/3 | €45,000 | €6,000 | -€39,000 | -86.7% |
| Other amounts payable | 47/48 | €70,000 | €153 | -€69,847 | -99.8% |
| Accrued charges and deferred income | 492/3 | - | €2,500 | +€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,363 | €7,414 | -€10,949 | -59.6% |
| Other operating charges | 640/8 | €52,156 | €59,423 | +€7,268 | +13.9% |
| Gross operating margin | 9900 | €230,248 | €184,192 | -€46,056 | -20.0% |
| Operating profit (loss) | 9901 | €159,729 | €117,354 | -€42,375 | -26.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €0 | €95 | +€95 | +946,600% |
| Recurring financial charges | 65 | €0 | €95 | +€95 | +946,600% |
| Profit (loss) for the period before taxes | 9903 | €159,729 | €117,260 | -€42,469 | -26.6% |
| Transfer from deferred taxes | 780 | €2,057 | €0 | -€2,057 | -100% |
| Income taxes | 67/77 | €45,000 | €26,489 | -€18,511 | -41.1% |
| Profit (loss) for the period | 9904 | €116,786 | €90,771 | -€26,015 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €116,786 | €90,771 | -€26,015 | -22.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.