MICHIGAN CONSULTING: 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.
MICHIGAN CONSULTING
Largest movements
- Receivables within one year +€123,284
up €123,284 (+408%), from €30,211 to €153,495
- Cash +€44,984
up €44,984 (+31.4%), from €143,370 to €188,354
mainly Net result for the year (+€121,529) and Trade debts (+€81,802)
- Tangible fixed assets +€18,386
up €18,386 (+184%), from €9,983 to €28,369
of which Other tangible fixed assets: +€17,808
- Reserves +€100,000
up €100,000 (+100%), from €100,000 to €200,000
- Trade debts +€81,802
up €81,802 (+744%), from €10,991 to €92,793
- Profit (loss) carried forward +€21,529
up €21,529 (+25.0%), from €86,015 to €107,545
- Tax, wage and social debts -€16,678
down €16,678 (-20.4%), from €81,558 to €64,880
- Gross operating margin -€86,612
down €86,612 (-34.3%), from €252,551 to €165,939
- Taxes -€18,632
down €18,632 (-27.0%), from €69,012 to €50,381
- Financial income +€5,736
up €5,736 (+222%), from €2,579 to €8,315
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 | €283,564 | €470,217 | +€186,654 | +65.8% |
| Fixed assets | 21/28 | €9,983 | €28,369 | +€18,386 | +184% |
| Tangible fixed assets | 22/27 | €9,983 | €28,369 | +€18,386 | +184% |
| Furniture and vehicles | 24 | €1,762 | €2,339 | +€578 | +32.8% |
| Other tangible fixed assets | 26 | €8,221 | €26,029 | +€17,808 | +217% |
| Current assets | 29/58 | €273,581 | €441,849 | +€168,268 | +61.5% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €30,211 | €153,495 | +€123,284 | +408% |
| Other amounts receivable | 41 | €30,211 | €153,495 | +€123,284 | +408% |
| Cash at bank and in hand | 54/58 | €143,370 | €188,354 | +€44,984 | +31.4% |
| Total equity and liabilities | 10/49 | €283,564 | €470,217 | +€186,654 | +65.8% |
| Equity | 10/15 | €191,015 | €312,545 | +€121,529 | +63.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €200,000 | +€100,000 | +100% |
| Distributable reserves | 133 | €100,000 | €200,000 | +€100,000 | +100% |
| Profit (loss) carried forward | 14 | €86,015 | €107,545 | +€21,529 | +25.0% |
| Amounts payable | 17/49 | €92,549 | €157,673 | +€65,124 | +70.4% |
| Amounts payable within one year | 42/48 | €92,549 | €157,673 | +€65,124 | +70.4% |
| Trade debts | 44 | €10,991 | €92,793 | +€81,802 | +744% |
| Suppliers | 440/4 | €10,991 | €92,793 | +€81,802 | +744% |
| Taxes, remuneration and social security | 45 | €81,558 | €64,880 | -€16,678 | -20.4% |
| Taxes | 450/3 | €81,558 | €64,880 | -€16,678 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19 | €1,759 | +€1,740 | +9,182% |
| Other operating charges | 640/8 | - | €300 | +€300 | |
| Gross operating margin | 9900 | €252,551 | €165,939 | -€86,612 | -34.3% |
| Operating profit (loss) | 9901 | €252,532 | €163,880 | -€88,652 | -35.1% |
| Financial income | 75/76B | €2,579 | €8,315 | +€5,736 | +222% |
| Recurring financial income | 75 | €2,579 | €8,315 | +€5,736 | +222% |
| Financial charges | 65/66B | €84 | €285 | +€201 | +240% |
| Recurring financial charges | 65 | €84 | €285 | +€201 | +240% |
| Profit (loss) for the period before taxes | 9903 | €255,027 | €171,910 | -€83,117 | -32.6% |
| Income taxes | 67/77 | €69,012 | €50,381 | -€18,632 | -27.0% |
| Profit (loss) for the period | 9904 | €186,015 | €121,529 | -€64,486 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €186,015 | €121,529 | -€64,486 | -34.7% |
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 23 October 2026 via checked.be.