MIGEOTTE-CONSEIL: 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.
MIGEOTTE-CONSEIL
Largest movements
- Tangible fixed assets -€168,691
down €168,691 (-96.0%), from €175,681 to €6,990
of which Land and buildings: -€165,748
- Cash +€168,671
up €168,671 (+117%), from €144,512 to €313,183
mainly Net result for the year (+€182,955) and Investment in fixed assets (net) (+€165,748)
- Deferred charges and accrued income -€5,280
no longer reported in 2025 (was €5,280)
- Reserves +€180,000
up €180,000 (+857%), from €21,000 to €201,000
- Profit (loss) carried forward -€87,045
down €87,045 (-90.3%), from €96,365 to €9,320
- Debts after one year -€63,197
no longer reported in 2025 (was €63,197)
- Other debts -€21,000
down €21,000 (-25.0%), from €84,000 to €63,000
- Current portion of long-term debt -€14,496
no longer reported in 2025 (was €14,496)
- Gross operating margin +€93,150
up €93,150 (+38.4%), from €242,760 to €335,910
- Taxes +€64,561
up €64,561 (+258%), from €25,027 to €89,588
- Staff costs -€32,788
down €32,788 (-38.4%), from €85,340 to €52,552
- Depreciation -€29,968
down €29,968 (-91.1%), from €32,911 to €2,943
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 | €339,881 | €337,749 | -€2,132 | -0.6% |
| Fixed assets | 21/28 | €175,681 | €6,990 | -€168,691 | -96.0% |
| Tangible fixed assets | 22/27 | €175,681 | €6,990 | -€168,691 | -96.0% |
| Land and buildings | 22 | €165,748 | - | -€165,748 | |
| Furniture and vehicles | 24 | €9,933 | €6,990 | -€2,943 | -29.6% |
| Current assets | 29/58 | €164,200 | €330,759 | +€166,559 | +101% |
| Amounts receivable within one year | 40/41 | €14,408 | €17,576 | +€3,168 | +22.0% |
| Trade receivables | 40 | €13,778 | €16,653 | +€2,875 | +20.9% |
| Other amounts receivable | 41 | €630 | €923 | +€293 | +46.5% |
| Cash at bank and in hand | 54/58 | €144,512 | €313,183 | +€168,671 | +117% |
| Deferred charges and accrued income | 490/1 | €5,280 | - | -€5,280 | |
| Total equity and liabilities | 10/49 | €339,881 | €337,749 | -€2,132 | -0.6% |
| Equity | 10/15 | €126,065 | €219,020 | +€92,955 | +73.7% |
| Contributions | 10/11 | €8,700 | €8,700 | = | 0.0% |
| Reserves | 13 | €21,000 | €201,000 | +€180,000 | +857% |
| Distributable reserves | 133 | €21,000 | €201,000 | +€180,000 | +857% |
| Profit (loss) carried forward | 14 | €96,365 | €9,320 | -€87,045 | -90.3% |
| Amounts payable | 17/49 | €213,816 | €118,729 | -€95,087 | -44.5% |
| Amounts payable after more than one year | 17 | €63,197 | - | -€63,197 | |
| Financial debts | 170/4 | €63,197 | - | -€63,197 | |
| Amounts payable within one year | 42/48 | €148,519 | €118,729 | -€29,790 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €14,496 | - | -€14,496 | |
| Trade debts | 44 | €3,305 | €4,800 | +€1,495 | +45.2% |
| Suppliers | 440/4 | €3,305 | €4,800 | +€1,495 | +45.2% |
| Taxes, remuneration and social security | 45 | €46,718 | €50,929 | +€4,211 | +9.0% |
| Taxes | 450/3 | - | €45,000 | +€45,000 | |
| Remuneration and social security | 454/9 | €46,718 | €5,929 | -€40,789 | -87.3% |
| Other amounts payable | 47/48 | €84,000 | €63,000 | -€21,000 | -25.0% |
| Accrued charges and deferred income | 492/3 | €2,100 | - | -€2,100 | |
| Remuneration, social security and pensions | 62 | €85,340 | €52,552 | -€32,788 | -38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,911 | €2,943 | -€29,968 | -91.1% |
| Other operating charges | 640/8 | €2,303 | €3,114 | +€811 | +35.2% |
| Gross operating margin | 9900 | €242,760 | €335,910 | +€93,150 | +38.4% |
| Operating profit (loss) | 9901 | €122,206 | €277,301 | +€155,095 | +127% |
| Financial income | 75/76B | €671 | €968 | +€297 | +44.3% |
| Recurring financial income | 75 | €100 | €224 | +€124 | +124% |
| Non-recurring financial income | 76B | €571 | €744 | +€173 | +30.3% |
| Financial charges | 65/66B | €4,124 | €5,726 | +€1,602 | +38.8% |
| Recurring financial charges | 65 | €3,984 | €4,788 | +€804 | +20.2% |
| Non-recurring financial charges | 66B | €140 | €938 | +€798 | +570% |
| Profit (loss) for the period before taxes | 9903 | €118,753 | €272,543 | +€153,790 | +130% |
| Income taxes | 67/77 | €25,027 | €89,588 | +€64,561 | +258% |
| Profit (loss) for the period | 9904 | €93,726 | €182,955 | +€89,229 | +95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €93,726 | €182,955 | +€89,229 | +95.2% |
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 23 October 2026 via checked.be.