PLANCKAERT - BAILLY - MICHELS CONSTRUCT: 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.
PLANCKAERT - BAILLY - MICHELS CONSTRUCT
Largest movements
- Cash +€13,316
up €13,316 (+22.3%), from €59,824 to €73,140
mainly Net result for the year (+€18,646) and Depreciation (+€7,534)
- Receivables within one year -€6,864
down €6,864 (-20.0%), from €34,283 to €27,419
of which Other amounts receivable: -€6,571
- Tangible fixed assets -€4,134
down €4,134 (-14.1%), from €29,248 to €25,114
of which Furniture and vehicles: -€6,400
- Reserves +€13,120
new in 2025: €13,120
- Other debts -€8,230
down €8,230 (-10.7%), from €76,578 to €68,348
- Debts after one year -€8,049
down €8,049 (-41.6%), from €19,340 to €11,291
- Profit (loss) carried forward +€5,526
up €5,526, from -€5,520 to €6
- Trade debts -€2,334
no longer reported in 2025 (was €2,334)
- Gross operating margin -€15,968
down €15,968 (-34.6%), from €46,194 to €30,225
- Depreciation -€4,736
down €4,736 (-38.6%), from €12,269 to €7,534
- Taxes +€1,312
new in 2025: €1,312
- Staff costs -€1,104
no longer reported in 2025 (was €1,104)
- Financial charges -€1,036
down €1,036 (-69.6%), from €1,489 to €453
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 | €123,355 | €125,673 | +€2,318 | +1.9% |
| Fixed assets | 21/28 | €29,248 | €25,114 | -€4,134 | -14.1% |
| Tangible fixed assets | 22/27 | €29,248 | €25,114 | -€4,134 | -14.1% |
| Plant, machinery and equipment | 23 | €2,140 | €4,406 | +€2,266 | +106% |
| Furniture and vehicles | 24 | €27,108 | €20,708 | -€6,400 | -23.6% |
| Current assets | 29/58 | €94,107 | €100,559 | +€6,452 | +6.9% |
| Amounts receivable within one year | 40/41 | €34,283 | €27,419 | -€6,864 | -20.0% |
| Trade receivables | 40 | €24,585 | €24,291 | -€293 | -1.2% |
| Other amounts receivable | 41 | €9,699 | €3,128 | -€6,571 | -67.7% |
| Cash at bank and in hand | 54/58 | €59,824 | €73,140 | +€13,316 | +22.3% |
| Total equity and liabilities | 10/49 | €123,355 | €125,673 | +€2,318 | +1.9% |
| Equity | 10/15 | €13,072 | €31,718 | +€18,646 | +143% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | - | €13,120 | +€13,120 | |
| Distributable reserves | 133 | - | €13,120 | +€13,120 | |
| Profit (loss) carried forward | 14 | -€5,520 | €6 | +€5,526 | |
| Amounts payable | 17/49 | €110,283 | €93,955 | -€16,328 | -14.8% |
| Amounts payable after more than one year | 17 | €19,340 | €11,291 | -€8,049 | -41.6% |
| Financial debts | 170/4 | €19,340 | €11,291 | -€8,049 | -41.6% |
| Amounts payable within one year | 42/48 | €90,943 | €82,664 | -€8,279 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €7,706 | €8,049 | +€343 | +4.4% |
| Trade debts | 44 | €2,334 | - | -€2,334 | |
| Suppliers | 440/4 | €2,334 | - | -€2,334 | |
| Taxes, remuneration and social security | 45 | €4,325 | €6,267 | +€1,942 | +44.9% |
| Taxes | 450/3 | - | €1,239 | +€1,239 | |
| Remuneration and social security | 454/9 | €4,325 | €5,028 | +€702 | +16.2% |
| Other amounts payable | 47/48 | €76,578 | €68,348 | -€8,230 | -10.7% |
| Non-recurring operating income | 76A | €3,045 | - | -€3,045 | |
| Remuneration, social security and pensions | 62 | €1,104 | - | -€1,104 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,269 | €7,534 | -€4,736 | -38.6% |
| Other operating charges | 640/8 | €2,718 | €2,523 | -€194 | -7.2% |
| Gross operating margin | 9900 | €46,194 | €30,225 | -€15,968 | -34.6% |
| Operating profit (loss) | 9901 | €30,103 | €20,168 | -€9,935 | -33.0% |
| Financial income | 75/76B | €66 | €243 | +€177 | +267% |
| Recurring financial income | 75 | €66 | €243 | +€177 | +267% |
| Financial charges | 65/66B | €1,489 | €453 | -€1,036 | -69.6% |
| Recurring financial charges | 65 | €1,489 | €453 | -€1,036 | -69.6% |
| Profit (loss) for the period before taxes | 9903 | €28,680 | €19,958 | -€8,722 | -30.4% |
| Income taxes | 67/77 | - | €1,312 | +€1,312 | |
| Profit (loss) for the period | 9904 | €28,680 | €18,646 | -€10,034 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,680 | €18,646 | -€10,034 | -35.0% |
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 30 October 2026 via checked.be.