Mickaël COLLARD: 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.
Mickaël COLLARD
Largest movements
- Cash +€24,829
up €24,829 (+145%), from €17,121 to €41,950
mainly Net result for the year (+€28,135) and Depreciation (+€24,948)
- Receivables within one year +€21,874
up €21,874 (+29.3%), from €74,578 to €96,451
of which Other amounts receivable: +€13,124
- Tangible fixed assets +€5,014
up €5,014 (+4.4%), from €114,940 to €119,954
of which Plant, machinery and equipment: +€5,077
- Other debts +€22,500
up €22,500 (+692%), from €3,250 to €25,750
- Trade debts +€20,023
up €20,023 (+90.7%), from €22,070 to €42,093
- Current portion of long-term debt +€5,992
up €5,992 (+30.2%), from €19,810 to €25,802
- Debts after one year -€5,556
down €5,556 (-7.1%), from €78,438 to €72,882
- Reserves +€5,000
up €5,000 (+263%), from €1,900 to €6,900
of which Distributable reserves: +€5,000
- Gross operating margin -€27,498
down €27,498 (-30.4%), from €90,315 to €62,817
- Taxes -€11,841
down €11,841 (-69.9%), from €16,941 to €5,100
- Depreciation +€11,641
up €11,641 (+87.5%), from €13,308 to €24,948
- Staff costs -€1,839
down €1,839 (-94.0%), from €1,956 to €117
- Other operating charges -€1,783
down €1,783 (-60.6%), from €2,943 to €1,160
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 | €207,807 | €259,550 | +€51,743 | +24.9% |
| Fixed assets | 21/28 | €115,075 | €120,089 | +€5,014 | +4.4% |
| Tangible fixed assets | 22/27 | €114,940 | €119,954 | +€5,014 | +4.4% |
| Land and buildings | 22 | €3,733 | €2,788 | -€945 | -25.3% |
| Plant, machinery and equipment | 23 | €915 | €5,992 | +€5,077 | +555% |
| Furniture and vehicles | 24 | €110,292 | €111,173 | +€882 | +0.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €92,732 | €139,461 | +€46,729 | +50.4% |
| Amounts receivable within one year | 40/41 | €74,578 | €96,451 | +€21,874 | +29.3% |
| Trade receivables | 40 | €47,838 | €56,588 | +€8,750 | +18.3% |
| Other amounts receivable | 41 | €26,739 | €39,863 | +€13,124 | +49.1% |
| Cash at bank and in hand | 54/58 | €17,121 | €41,950 | +€24,829 | +145% |
| Deferred charges and accrued income | 490/1 | €1,033 | €1,059 | +€26 | +2.5% |
| Total equity and liabilities | 10/49 | €207,807 | €259,550 | +€51,743 | +24.9% |
| Equity | 10/15 | €71,150 | €76,785 | +€5,635 | +7.9% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €6,900 | +€5,000 | +263% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | €50,250 | €50,885 | +€635 | +1.3% |
| Amounts payable | 17/49 | €136,657 | €182,764 | +€46,108 | +33.7% |
| Amounts payable after more than one year | 17 | €78,438 | €72,882 | -€5,556 | -7.1% |
| Financial debts | 170/4 | €78,438 | €72,882 | -€5,556 | -7.1% |
| Amounts payable within one year | 42/48 | €58,219 | €109,883 | +€51,664 | +88.7% |
| Current portion of amounts payable after more than one year | 42 | €19,810 | €25,802 | +€5,992 | +30.2% |
| Trade debts | 44 | €22,070 | €42,093 | +€20,023 | +90.7% |
| Suppliers | 440/4 | €22,070 | €42,093 | +€20,023 | +90.7% |
| Taxes, remuneration and social security | 45 | €13,089 | €16,237 | +€3,148 | +24.1% |
| Taxes | 450/3 | €11,389 | €16,237 | +€4,848 | +42.6% |
| Remuneration and social security | 454/9 | €1,700 | - | -€1,700 | |
| Other amounts payable | 47/48 | €3,250 | €25,750 | +€22,500 | +692% |
| Remuneration, social security and pensions | 62 | €1,956 | €117 | -€1,839 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,308 | €24,948 | +€11,641 | +87.5% |
| Other operating charges | 640/8 | €2,943 | €1,160 | -€1,783 | -60.6% |
| Gross operating margin | 9900 | €90,315 | €62,817 | -€27,498 | -30.4% |
| Operating profit (loss) | 9901 | €72,109 | €36,591 | -€35,518 | -49.3% |
| Financial income | 75/76B | €965 | €1,640 | +€675 | +70.0% |
| Recurring financial income | 75 | €965 | €1,640 | +€675 | +70.0% |
| Financial charges | 65/66B | €6,528 | €4,996 | -€1,533 | -23.5% |
| Recurring financial charges | 65 | €6,528 | €4,996 | -€1,533 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €66,545 | €33,235 | -€33,309 | -50.1% |
| Income taxes | 67/77 | €16,941 | €5,100 | -€11,841 | -69.9% |
| Profit (loss) for the period | 9904 | €49,603 | €28,135 | -€21,468 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,603 | €28,135 | -€21,468 | -43.3% |
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 25 October 2026 via checked.be.