MIGOT Fréderic: 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.
MIGOT Fréderic
Largest movements
- Current investments -€89,658
down €89,658 (-56.1%), from €159,850 to €70,192
- Tangible fixed assets +€49,450
up €49,450 (+154%), from €32,086 to €81,536
of which Furniture and vehicles: +€50,650
- Receivables within one year +€27,457
up €27,457 (+75.0%), from €36,619 to €64,076
of which Trade receivables: +€15,397
- Cash +€5,846
up €5,846 (+761%), from €768 to €6,614
mainly Current investments (+€89,658) and Debts after one year (+€22,398)
- Stocks and contracts +€5,405
up €5,405 (+103%), from €5,265 to €10,670
- Debts after one year +€22,398
new in 2025: €22,398
- Profit (loss) carried forward -€15,315
new in 2025: -€15,315
- Current portion of long-term debt +€8,468
new in 2025: €8,468
- Tax, wage and social debts -€7,003
down €7,003 (-63.2%), from €11,083 to €4,080
- Reserves -€5,693
down €5,693 (-2.8%), from €202,126 to €196,433
of which Tax-exempt reserves: -€5,693
- Turnover -€167,203
down €167,203 (-54.4%), from €307,547 to €140,344
- Purchases and services -€116,539
down €116,539 (-46.4%), from €251,272 to €134,733
- Gross operating margin -€50,664
down €50,664 (-90.0%), from €56,275 to €5,611
- Taxes -€9,602
no longer reported in 2025 (was €9,602)
- Depreciation +€3,827
up €3,827 (+20.9%), from €18,298 to €22,125
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 | €235,611 | €235,295 | -€316 | -0.1% |
| Fixed assets | 21/28 | €32,086 | €81,536 | +€49,450 | +154% |
| Tangible fixed assets | 22/27 | €32,086 | €81,536 | +€49,450 | +154% |
| Land and buildings | 22 | €20 | - | -€20 | |
| Plant, machinery and equipment | 23 | €3,757 | €2,577 | -€1,180 | -31.4% |
| Furniture and vehicles | 24 | €28,309 | €78,959 | +€50,650 | +179% |
| Current assets | 29/58 | €203,525 | €153,759 | -€49,766 | -24.5% |
| Stocks and contracts in progress | 3 | €5,265 | €10,670 | +€5,405 | +103% |
| Stocks | 30/36 | €5,265 | €10,670 | +€5,405 | +103% |
| Amounts receivable within one year | 40/41 | €36,619 | €64,076 | +€27,457 | +75.0% |
| Trade receivables | 40 | €1,765 | €17,162 | +€15,397 | +872% |
| Other amounts receivable | 41 | €34,854 | €46,914 | +€12,060 | +34.6% |
| Current investments | 50/53 | €159,850 | €70,192 | -€89,658 | -56.1% |
| Cash at bank and in hand | 54/58 | €768 | €6,614 | +€5,846 | +761% |
| Deferred charges and accrued income | 490/1 | €1,023 | €2,207 | +€1,184 | +116% |
| Total equity and liabilities | 10/49 | €235,611 | €235,295 | -€316 | -0.1% |
| Equity | 10/15 | €220,726 | €199,718 | -€21,008 | -9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €202,126 | €196,433 | -€5,693 | -2.8% |
| Non-distributable reserves | 130/1 | €69,000 | €69,000 | = | 0.0% |
| Other | 1319 | €69,000 | €69,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,693 | - | -€5,693 | |
| Distributable reserves | 133 | €127,433 | €127,433 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€15,315 | -€15,315 | |
| Amounts payable | 17/49 | €14,885 | €35,577 | +€20,692 | +139% |
| Amounts payable after more than one year | 17 | - | €22,398 | +€22,398 | |
| Financial debts | 170/4 | - | €22,398 | +€22,398 | |
| Amounts payable within one year | 42/48 | €14,885 | €13,179 | -€1,706 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | - | €8,468 | +€8,468 | |
| Trade debts | 44 | €3,201 | €631 | -€2,570 | -80.3% |
| Suppliers | 440/4 | €3,201 | €631 | -€2,570 | -80.3% |
| Taxes, remuneration and social security | 45 | €11,083 | €4,080 | -€7,003 | -63.2% |
| Taxes | 450/3 | €11,083 | €4,080 | -€7,003 | -63.2% |
| Other amounts payable | 47/48 | €601 | - | -€601 | |
| Turnover | 70 | €307,547 | €140,344 | -€167,203 | -54.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €251,272 | €134,733 | -€116,539 | -46.4% |
| Remuneration, social security and pensions | 62 | €3,660 | €3,780 | +€120 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,298 | €22,125 | +€3,827 | +20.9% |
| Other operating charges | 640/8 | €465 | €667 | +€202 | +43.4% |
| Gross operating margin | 9900 | €56,275 | €5,611 | -€50,664 | -90.0% |
| Operating profit (loss) | 9901 | €33,852 | -€20,961 | -€54,813 | |
| Financial income | 75/76B | €1,434 | €1,105 | -€329 | -22.9% |
| Recurring financial income | 75 | €1,434 | €1,105 | -€329 | -22.9% |
| Financial charges | 65/66B | €274 | €1,152 | +€878 | +320% |
| Recurring financial charges | 65 | €274 | €1,152 | +€878 | +320% |
| Profit (loss) for the period before taxes | 9903 | €35,012 | -€21,008 | -€56,020 | |
| Income taxes | 67/77 | €9,602 | - | -€9,602 | |
| Profit (loss) for the period | 9904 | €25,410 | -€21,008 | -€46,418 | |
| Transfer from tax-exempt reserves | 789 | - | €5,693 | +€5,693 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,410 | -€15,315 | -€40,725 |
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 15 October 2026 via checked.be.