MICHTEC: 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.
MICHTEC
Largest movements
- Receivables within one year +€11,731
up €11,731 (+19.8%), from €59,342 to €71,074
of which Other amounts receivable: +€29,244
- Tangible fixed assets -€3,942
down €3,942 (-17.1%), from €23,023 to €19,081
of which Plant, machinery and equipment: -€3,040
- Debts after one year -€12,814
down €12,814 (-39.4%), from €32,560 to €19,745
of which Financial debts: -€9,179
- Trade debts +€10,156
up €10,156 (+46.8%), from €21,711 to €31,867
- Tax, wage and social debts +€6,917
up €6,917 (+65.9%), from €10,493 to €17,410
of which Remuneration and social security: +€4,100
- Reserves +€4,361
up €4,361 (+48.3%), from €9,030 to €13,392
- Other operating charges +€12,644
up €12,644 (+1,685%), from €750 to €13,395
- Gross operating margin -€6,374
down €6,374 (-16.5%), from €38,743 to €32,369
- Taxes +€1,439
up €1,439 (+144%), from €1,000 to €2,439
- Financial charges -€493
down €493 (-18.0%), from €2,739 to €2,246
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 | €91,826 | €100,229 | +€8,402 | +9.2% |
| Fixed assets | 21/28 | €26,144 | €22,202 | -€3,942 | -15.1% |
| Tangible fixed assets | 22/27 | €23,023 | €19,081 | -€3,942 | -17.1% |
| Plant, machinery and equipment | 23 | €6,969 | €3,928 | -€3,040 | -43.6% |
| Furniture and vehicles | 24 | €16,054 | €15,153 | -€902 | -5.6% |
| Financial fixed assets | 28 | €3,121 | €3,121 | = | 0.0% |
| Current assets | 29/58 | €65,682 | €78,026 | +€12,345 | +18.8% |
| Amounts receivable within one year | 40/41 | €59,342 | €71,074 | +€11,731 | +19.8% |
| Trade receivables | 40 | €27,934 | €10,421 | -€17,513 | -62.7% |
| Other amounts receivable | 41 | €31,408 | €60,652 | +€29,244 | +93.1% |
| Cash at bank and in hand | 54/58 | €5,981 | €6,806 | +€825 | +13.8% |
| Deferred charges and accrued income | 490/1 | €358 | €147 | -€212 | -59.1% |
| Total equity and liabilities | 10/49 | €91,826 | €100,229 | +€8,402 | +9.2% |
| Equity | 10/15 | €14,030 | €18,392 | +€4,361 | +31.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,030 | €13,392 | +€4,361 | +48.3% |
| Distributable reserves | 133 | €9,030 | €13,392 | +€4,361 | +48.3% |
| Amounts payable | 17/49 | €77,796 | €81,837 | +€4,041 | +5.2% |
| Amounts payable after more than one year | 17 | €32,560 | €19,745 | -€12,814 | -39.4% |
| Financial debts | 170/4 | €28,924 | €19,745 | -€9,179 | -31.7% |
| Trade debts | 175 | €3,636 | - | -€3,636 | |
| Amounts payable within one year | 42/48 | €45,236 | €62,092 | +€16,855 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €13,032 | €12,814 | -€218 | -1.7% |
| Trade debts | 44 | €21,711 | €31,867 | +€10,156 | +46.8% |
| Suppliers | 440/4 | €21,711 | €31,867 | +€10,156 | +46.8% |
| Taxes, remuneration and social security | 45 | €10,493 | €17,410 | +€6,917 | +65.9% |
| Taxes | 450/3 | €10,493 | €13,310 | +€2,817 | +26.8% |
| Remuneration and social security | 454/9 | - | €4,100 | +€4,100 | |
| Non-recurring operating income | 76A | €2,800 | €120 | -€2,680 | -95.7% |
| Remuneration, social security and pensions | 62 | €424 | €793 | +€369 | +87.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,371 | €9,141 | -€230 | -2.4% |
| Other operating charges | 640/8 | €750 | €13,395 | +€12,644 | +1,685% |
| Gross operating margin | 9900 | €38,743 | €32,369 | -€6,374 | -16.5% |
| Operating profit (loss) | 9901 | €28,199 | €9,041 | -€19,157 | -67.9% |
| Financial income | 75/76B | €0 | €5 | +€5 | +5,250% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +5,250% |
| Financial charges | 65/66B | €2,739 | €2,246 | -€493 | -18.0% |
| Recurring financial charges | 65 | €2,739 | €2,246 | -€493 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €25,460 | €6,800 | -€18,660 | -73.3% |
| Income taxes | 67/77 | €1,000 | €2,439 | +€1,439 | +144% |
| Profit (loss) for the period | 9904 | €24,460 | €4,361 | -€20,098 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,460 | €4,361 | -€20,098 | -82.2% |
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 14 October 2026 via checked.be.