OPTIEK MICHIELSEN: 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.
OPTIEK MICHIELSEN
Largest movements
- Cash +€59,768
up €59,768 (+20.2%), from €295,927 to €355,695
mainly Net result for the year (+€26,499) and Depreciation (+€16,401)
- Tangible fixed assets -€15,156
down €15,156 (-18.5%), from €82,091 to €66,935
- Stocks and contracts -€5,272
down €5,272 (-8.6%), from €61,139 to €55,867
- Reserves +€26,499
up €26,499 (+7.0%), from €381,156 to €407,655
- Tax, wage and social debts +€8,224
up €8,224 (+958%), from €858 to €9,082
of which Taxes: +€8,224
- Gross operating margin +€20,575
up €20,575 (+60.4%), from €34,059 to €54,634
- Taxes +€5,579
up €5,579 (+116%), from €4,819 to €10,398
- Staff costs +€787
new in 2025: €787
- Other operating charges -€714
down €714 (-37.7%), from €1,897 to €1,182
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 | €452,022 | €491,059 | +€39,037 | +8.6% |
| Fixed assets | 21/28 | €82,091 | €66,935 | -€15,156 | -18.5% |
| Tangible fixed assets | 22/27 | €82,091 | €66,935 | -€15,156 | -18.5% |
| Plant, machinery and equipment | 23 | €29,297 | €22,209 | -€7,089 | -24.2% |
| Furniture and vehicles | 24 | €15,234 | €12,502 | -€2,732 | -17.9% |
| Other tangible fixed assets | 26 | €37,560 | €32,225 | -€5,335 | -14.2% |
| Current assets | 29/58 | €369,931 | €424,123 | +€54,193 | +14.6% |
| Stocks and contracts in progress | 3 | €61,139 | €55,867 | -€5,272 | -8.6% |
| Stocks | 30/36 | €61,139 | €55,867 | -€5,272 | -8.6% |
| Amounts receivable within one year | 40/41 | €11,893 | €12,024 | +€130 | +1.1% |
| Trade receivables | 40 | €3,691 | €7,067 | +€3,376 | +91.4% |
| Other amounts receivable | 41 | €8,202 | €4,956 | -€3,245 | -39.6% |
| Cash at bank and in hand | 54/58 | €295,927 | €355,695 | +€59,768 | +20.2% |
| Deferred charges and accrued income | 490/1 | €972 | €538 | -€433 | -44.6% |
| Total equity and liabilities | 10/49 | €452,022 | €491,059 | +€39,037 | +8.6% |
| Equity | 10/15 | €420,156 | €446,655 | +€26,499 | +6.3% |
| Contributions | 10/11 | €39,000 | €39,000 | = | 0.0% |
| Reserves | 13 | €381,156 | €407,655 | +€26,499 | +7.0% |
| Distributable reserves | 133 | €381,156 | €407,655 | +€26,499 | +7.0% |
| Amounts payable | 17/49 | €31,865 | €44,403 | +€12,538 | +39.3% |
| Amounts payable within one year | 42/48 | €30,666 | €42,890 | +€12,224 | +39.9% |
| Trade debts | 44 | €9,214 | €12,245 | +€3,031 | +32.9% |
| Suppliers | 440/4 | €9,214 | €12,245 | +€3,031 | +32.9% |
| Taxes, remuneration and social security | 45 | €858 | €9,082 | +€8,224 | +958% |
| Taxes | 450/3 | €858 | €9,082 | +€8,224 | +958% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €20,594 | €21,563 | +€969 | +4.7% |
| Accrued charges and deferred income | 492/3 | €1,199 | €1,514 | +€314 | +26.2% |
| Remuneration, social security and pensions | 62 | - | €787 | +€787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,371 | €16,401 | +€30 | +0.2% |
| Other operating charges | 640/8 | €1,897 | €1,182 | -€714 | -37.7% |
| Gross operating margin | 9900 | €34,059 | €54,634 | +€20,575 | +60.4% |
| Operating profit (loss) | 9901 | €15,792 | €36,264 | +€20,473 | +130% |
| Financial income | 75/76B | €2,605 | €2,463 | -€142 | -5.4% |
| Recurring financial income | 75 | €2,605 | €2,463 | -€142 | -5.4% |
| Financial charges | 65/66B | €1,765 | €1,831 | +€66 | +3.8% |
| Recurring financial charges | 65 | €1,765 | €1,831 | +€66 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €16,632 | €36,897 | +€20,265 | +122% |
| Income taxes | 67/77 | €4,819 | €10,398 | +€5,579 | +116% |
| Profit (loss) for the period | 9904 | €11,813 | €26,499 | +€14,686 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €11,813 | €26,499 | +€14,686 | +124% |
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 29 October 2026 via checked.be.