MIKE DEBAERE: 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.
MIKE DEBAERE
Largest movements
- Receivables within one year +€191,906
up €191,906 (+246%), from €78,120 to €270,026
of which Trade receivables: +€184,186
- Tangible fixed assets +€89,418
up €89,418 (+142%), from €63,007 to €152,425
of which Furniture and vehicles: +€97,702
- Cash +€56,234
up €56,234 (+47.3%), from €118,936 to €175,170
mainly Net result for the year (+€132,662) and Trade debts (+€120,515)
- Receivables after one year -€25,625
down €25,625 (-100%), from €25,625 to €0
of which Trade receivables: -€25,625
- Stocks and contracts +€20,565
up €20,565 (+203%), from €10,151 to €30,716
- Trade debts +€120,515
up €120,515 (+165%), from €72,882 to €193,397
- Reserves +€93,917
up €93,917 (+65.7%), from €143,038 to €236,955
- Debts after one year +€63,055
up €63,055 (+294%), from €21,421 to €84,476
- Tax, wage and social debts +€36,426
up €36,426 (+373%), from €9,773 to €46,200
of which Taxes: +€36,317
- Profit (loss) carried forward +€18,956
up €18,956, from €0 to €18,956
- Gross operating margin +€134,871
up €134,871 (+78.3%), from €172,183 to €307,053
- Taxes +€36,687
up €36,687 (+162%), from €22,615 to €59,302
- Depreciation +€8,769
up €8,769 (+37.5%), from €23,407 to €32,176
- Financial charges +€7,695
up €7,695 (+52.0%), from €14,805 to €22,500
- Staff costs +€3,320
up €3,320 (+6.1%), from €54,354 to €57,674
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 | €298,286 | €634,146 | +€335,860 | +113% |
| Fixed assets | 21/28 | €63,007 | €152,425 | +€89,418 | +142% |
| Tangible fixed assets | 22/27 | €63,007 | €152,425 | +€89,418 | +142% |
| Plant, machinery and equipment | 23 | €10,216 | €13,100 | +€2,884 | +28.2% |
| Furniture and vehicles | 24 | €18,293 | €115,995 | +€97,702 | +534% |
| Leasing and similar rights | 25 | €22,620 | €14,794 | -€7,826 | -34.6% |
| Other tangible fixed assets | 26 | €11,878 | €8,536 | -€3,342 | -28.1% |
| Current assets | 29/58 | €235,279 | €481,720 | +€246,442 | +105% |
| Amounts receivable after more than one year | 29 | €25,625 | €0 | -€25,625 | -100% |
| Trade receivables | 290 | €25,625 | - | -€25,625 | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €10,151 | €30,716 | +€20,565 | +203% |
| Stocks | 30/36 | €10,151 | €30,716 | +€20,565 | +203% |
| Amounts receivable within one year | 40/41 | €78,120 | €270,026 | +€191,906 | +246% |
| Trade receivables | 40 | €57,100 | €241,286 | +€184,186 | +323% |
| Other amounts receivable | 41 | €21,019 | €28,739 | +€7,720 | +36.7% |
| Cash at bank and in hand | 54/58 | €118,936 | €175,170 | +€56,234 | +47.3% |
| Deferred charges and accrued income | 490/1 | €2,447 | €5,810 | +€3,362 | +137% |
| Total equity and liabilities | 10/49 | €298,286 | €634,146 | +€335,860 | +113% |
| Equity | 10/15 | €155,438 | €268,311 | +€112,873 | +72.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €143,038 | €236,955 | +€93,917 | +65.7% |
| Distributable reserves | 133 | €143,038 | €236,955 | +€93,917 | +65.7% |
| Profit (loss) carried forward | 14 | €0 | €18,956 | +€18,956 | |
| Amounts payable | 17/49 | €142,848 | €365,835 | +€222,987 | +156% |
| Amounts payable after more than one year | 17 | €21,421 | €84,476 | +€63,055 | +294% |
| Financial debts | 170/4 | €21,421 | €84,476 | +€63,055 | +294% |
| Amounts payable within one year | 42/48 | €121,427 | €280,623 | +€159,196 | +131% |
| Current portion of amounts payable after more than one year | 42 | €28,181 | €35,671 | +€7,489 | +26.6% |
| Trade debts | 44 | €72,882 | €193,397 | +€120,515 | +165% |
| Suppliers | 440/4 | €72,882 | €193,397 | +€120,515 | +165% |
| Taxes, remuneration and social security | 45 | €9,773 | €46,200 | +€36,426 | +373% |
| Taxes | 450/3 | €7,999 | €44,316 | +€36,317 | +454% |
| Remuneration and social security | 454/9 | €1,775 | €1,883 | +€109 | +6.1% |
| Other amounts payable | 47/48 | €10,591 | €5,356 | -€5,235 | -49.4% |
| Accrued charges and deferred income | 492/3 | €0 | €737 | +€737 | |
| Non-recurring operating income | 76A | - | €4,803 | +€4,803 | |
| Remuneration, social security and pensions | 62 | €54,354 | €57,674 | +€3,320 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,407 | €32,176 | +€8,769 | +37.5% |
| Other operating charges | 640/8 | €4,514 | €2,819 | -€1,695 | -37.5% |
| Gross operating margin | 9900 | €172,183 | €307,053 | +€134,871 | +78.3% |
| Operating profit (loss) | 9901 | €89,907 | €214,383 | +€124,476 | +138% |
| Financial income | 75/76B | €625 | €81 | -€544 | -87.1% |
| Recurring financial income | 75 | €625 | €81 | -€544 | -87.1% |
| Financial charges | 65/66B | €14,805 | €22,500 | +€7,695 | +52.0% |
| Recurring financial charges | 65 | €14,805 | €22,500 | +€7,695 | +52.0% |
| Profit (loss) for the period before taxes | 9903 | €75,727 | €191,964 | +€116,237 | +153% |
| Income taxes | 67/77 | €22,615 | €59,302 | +€36,687 | +162% |
| Profit (loss) for the period | 9904 | €53,112 | €132,662 | +€79,550 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €53,112 | €132,662 | +€79,550 | +150% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.