MIGEOTTE CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Receivables within one year -€55,423
down €55,423 (-31.4%), from €176,404 to €120,981
of which Other amounts receivable: -€38,829
- Tangible fixed assets -€17,683
down €17,683 (-16.3%), from €108,769 to €91,086
of which Leasing and similar rights: -€13,040
- Stocks and contracts -€15,000
no longer reported in 2025 (was €15,000)
- Cash +€13,072
up €13,072 (+12,777%), from €102 to €13,174
mainly Receivables within one year (+€55,423) and Advances received (+€48,088)
- Trade debts -€86,895
down €86,895 (-85.3%), from €101,854 to €14,959
- Advances received +€48,088
new in 2025: €48,088
- Tax, wage and social debts -€17,819
down €17,819 (-47.0%), from €37,916 to €20,097
of which Remuneration and social security: -€20,236
- Debts after one year -€15,611
down €15,611 (-19.4%), from €80,285 to €64,674
- Short-term financial debts -€6,498
no longer reported in 2025 (was €6,498)
- Gross operating margin +€64,613
up €64,613 (+75.1%), from €86,062 to €150,675
- Taxes +€14,232
up €14,232 (+1,707%), from €834 to €15,066
- Staff costs +€5,024
up €5,024 (+10.1%), from €49,648 to €54,672
- Depreciation -€3,331
down €3,331 (-13.9%), from €23,930 to €20,599
- Other operating charges +€3,102
up €3,102 (+58.5%), from €5,302 to €8,404
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 | €300,325 | €225,291 | -€75,034 | -25.0% |
| Fixed assets | 21/28 | €108,819 | €91,136 | -€17,683 | -16.2% |
| Tangible fixed assets | 22/27 | €108,769 | €91,086 | -€17,683 | -16.3% |
| Land and buildings | 22 | €65,350 | €61,100 | -€4,250 | -6.5% |
| Plant, machinery and equipment | 23 | €3,014 | €4,493 | +€1,479 | +49.1% |
| Furniture and vehicles | 24 | €25,442 | €23,570 | -€1,872 | -7.4% |
| Leasing and similar rights | 25 | €14,963 | €1,923 | -€13,040 | -87.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €191,506 | €134,155 | -€57,351 | -29.9% |
| Stocks and contracts in progress | 3 | €15,000 | - | -€15,000 | |
| Contracts in progress | 37 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €176,404 | €120,981 | -€55,423 | -31.4% |
| Trade receivables | 40 | €107,152 | €90,558 | -€16,594 | -15.5% |
| Other amounts receivable | 41 | €69,252 | €30,423 | -€38,829 | -56.1% |
| Cash at bank and in hand | 54/58 | €102 | €13,174 | +€13,072 | +12,777% |
| Total equity and liabilities | 10/49 | €300,325 | €225,291 | -€75,034 | -25.0% |
| Equity | 10/15 | €37,898 | €39,664 | +€1,766 | +4.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €55,161 | €56,935 | +€1,774 | +3.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €53,306 | €55,080 | +€1,774 | +3.3% |
| Profit (loss) carried forward | 14 | -€27,263 | -€27,271 | -€8 | 0.0% |
| Amounts payable | 17/49 | €262,427 | €185,627 | -€76,800 | -29.3% |
| Amounts payable after more than one year | 17 | €80,285 | €64,674 | -€15,611 | -19.4% |
| Financial debts | 170/4 | €80,285 | €64,674 | -€15,611 | -19.4% |
| Amounts payable within one year | 42/48 | €181,726 | €120,953 | -€60,773 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €15,302 | €15,612 | +€310 | +2.0% |
| Financial debts | 43 | €6,498 | - | -€6,498 | |
| Credit institutions | 430/8 | €6,498 | - | -€6,498 | |
| Trade debts | 44 | €101,854 | €14,959 | -€86,895 | -85.3% |
| Suppliers | 440/4 | €101,854 | €14,959 | -€86,895 | -85.3% |
| Advances received on contracts in progress | 46 | - | €48,088 | +€48,088 | |
| Taxes, remuneration and social security | 45 | €37,916 | €20,097 | -€17,819 | -47.0% |
| Taxes | 450/3 | €17,681 | €20,097 | +€2,416 | +13.7% |
| Remuneration and social security | 454/9 | €20,236 | - | -€20,236 | |
| Other amounts payable | 47/48 | €20,156 | €22,197 | +€2,041 | +10.1% |
| Accrued charges and deferred income | 492/3 | €416 | - | -€416 | |
| Remuneration, social security and pensions | 62 | €49,648 | €54,672 | +€5,024 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,930 | €20,599 | -€3,331 | -13.9% |
| Other operating charges | 640/8 | €5,302 | €8,404 | +€3,102 | +58.5% |
| Non-recurring operating charges | 66A | €0 | €7,023 | +€7,023 | |
| Gross operating margin | 9900 | €86,062 | €150,675 | +€64,613 | +75.1% |
| Operating profit (loss) | 9901 | €7,182 | €59,977 | +€52,795 | +735% |
| Financial income | 75/76B | €3,662 | €2,813 | -€849 | -23.2% |
| Recurring financial income | 75 | €3,662 | €430 | -€3,232 | -88.3% |
| Non-recurring financial income | 76B | - | €2,383 | +€2,383 | |
| Financial charges | 65/66B | €6,269 | €7,751 | +€1,482 | +23.6% |
| Recurring financial charges | 65 | €6,269 | €7,751 | +€1,482 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €4,575 | €55,039 | +€50,464 | +1,103% |
| Income taxes | 67/77 | €834 | €15,066 | +€14,232 | +1,707% |
| Profit (loss) for the period | 9904 | €3,741 | €39,973 | +€36,232 | +968% |
| Profit (loss) for the period to be appropriated | 9905 | €3,741 | €39,973 | +€36,232 | +968% |
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 26 October 2026 via checked.be.