MICHOT A.: 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.
MICHOT A.
Largest movements
- Cash -€18,179
down €18,179 (-77.6%), from €23,433 to €5,254
mainly Investment in fixed assets (net) (-€14,908) and Receivables within one year (-€11,708)
- Receivables within one year +€11,708
up €11,708 (+10.2%), from €114,456 to €126,164
of which Other amounts receivable: +€9,459
- Stocks and contracts -€7,558
down €7,558 (-5.8%), from €130,754 to €123,196
- Tax, wage and social debts -€9,471
down €9,471 (-43.0%), from €22,016 to €12,545
of which Taxes: -€8,422
- Short-term financial debts +€9,401
new in 2025: €9,401
- Trade debts -€9,070
down €9,070 (-11.8%), from €77,021 to €67,951
- Debts after one year -€8,889
down €8,889 (-80.1%), from €11,103 to €2,214
- Profit (loss) carried forward +€4,169
up €4,169 (+2.5%), from €167,343 to €171,512
- Turnover +€12.4m
up €12.4m (+854.3%), from €1.5m to €13.9m
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.
Cash bridge derived
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 | €319,460 | €307,600 | -€11,860 | -3.7% |
| Fixed assets | 21/28 | €49,568 | €52,858 | +€3,290 | +6.6% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €49,567 | €50,410 | +€843 | +1.7% |
| Plant, machinery and equipment | 23 | €11,065 | €15,672 | +€4,607 | +41.6% |
| Furniture and vehicles | 24 | - | €1,386 | +€1,386 | |
| Other tangible fixed assets | 26 | €38,502 | €33,352 | -€5,150 | -13.4% |
| Financial fixed assets | 28 | - | €2,447 | +€2,447 | |
| Current assets | 29/58 | €269,892 | €254,742 | -€15,150 | -5.6% |
| Stocks and contracts in progress | 3 | €130,754 | €123,196 | -€7,558 | -5.8% |
| Stocks | 30/36 | €130,754 | €123,196 | -€7,558 | -5.8% |
| Amounts receivable within one year | 40/41 | €114,456 | €126,164 | +€11,708 | +10.2% |
| Trade receivables | 40 | €22,054 | €24,303 | +€2,249 | +10.2% |
| Other amounts receivable | 41 | €92,402 | €101,861 | +€9,459 | +10.2% |
| Cash at bank and in hand | 54/58 | €23,433 | €5,254 | -€18,179 | -77.6% |
| Deferred charges and accrued income | 490/1 | €1,249 | €128 | -€1,121 | -89.8% |
| Total equity and liabilities | 10/49 | €319,460 | €307,600 | -€11,860 | -3.7% |
| Equity | 10/15 | €197,803 | €201,972 | +€4,169 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Distributable reserves | 133 | €11,860 | €11,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €167,343 | €171,512 | +€4,169 | +2.5% |
| Amounts payable | 17/49 | €121,657 | €105,628 | -€16,029 | -13.2% |
| Amounts payable after more than one year | 17 | €11,103 | €2,214 | -€8,889 | -80.1% |
| Financial debts | 170/4 | €11,103 | €2,214 | -€8,889 | -80.1% |
| Amounts payable within one year | 42/48 | €110,534 | €103,373 | -€7,161 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €11,497 | €11,476 | -€21 | -0.2% |
| Financial debts | 43 | - | €9,401 | +€9,401 | |
| Credit institutions | 430/8 | - | €9,401 | +€9,401 | |
| Trade debts | 44 | €77,021 | €67,951 | -€9,070 | -11.8% |
| Suppliers | 440/4 | €77,021 | €67,951 | -€9,070 | -11.8% |
| Taxes, remuneration and social security | 45 | €22,016 | €12,545 | -€9,471 | -43.0% |
| Taxes | 450/3 | €15,664 | €7,242 | -€8,422 | -53.8% |
| Remuneration and social security | 454/9 | €6,352 | €5,303 | -€1,049 | -16.5% |
| Other amounts payable | 47/48 | - | €2,000 | +€2,000 | |
| Accrued charges and deferred income | 492/3 | €20 | €41 | +€21 | +105.0% |
| Turnover | 70 | €1,457,127 | €13,905,825 | +€12.4m | +854.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,337,737 | €1,279,054 | -€58,683 | -4.4% |
| Remuneration, social security and pensions | 62 | €86,325 | €85,653 | -€672 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,288 | €11,618 | +€2,330 | +25.1% |
| Other operating charges | 640/8 | €3,986 | €4,424 | +€438 | +11.0% |
| Gross operating margin | 9900 | €119,390 | €111,528 | -€7,862 | -6.6% |
| Operating profit (loss) | 9901 | €19,791 | €9,833 | -€9,958 | -50.3% |
| Financial charges | 65/66B | €2,950 | €3,825 | +€875 | +29.7% |
| Recurring financial charges | 65 | €2,950 | €3,825 | +€875 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €16,841 | €6,008 | -€10,833 | -64.3% |
| Income taxes | 67/77 | €5,716 | €1,839 | -€3,877 | -67.8% |
| Profit (loss) for the period | 9904 | €11,125 | €4,169 | -€6,956 | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,125 | €4,169 | -€6,956 | -62.5% |
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 9 October 2026 via checked.be.