RESTAURANT MICHEL: what changed
RESTAURANT MICHEL
Largest movements
- Receivables within one year +€152,929
up €152,929 (+129%), from €118,256 to €271,186
of which Other amounts receivable: +€194,595
- Tangible fixed assets -€112,831
no longer reported in 2025 (was €112,831)
- Stocks and contracts -€92,141
no longer reported in 2025 (was €92,141)
- Cash -€36,648
down €36,648 (-97.0%), from €37,788 to €1,141
mainly Receivables within one year (-€152,929) and Trade debts (-€52,283)
- Trade debts -€52,283
down €52,283 (-51.0%), from €102,597 to €50,314
- Tax, wage and social debts -€22,499
down €22,499 (-76.4%), from €29,456 to €6,958
of which Remuneration and social security: -€22,439
- Short-term financial debts -€8,373
no longer reported in 2025 (was €8,373)
- Debts after one year -€6,758
down €6,758 (-24.2%), from €27,952 to €21,195
- Gross operating margin -€223,135
down €223,135 (-94.1%), from €237,019 to €13,884
- Staff costs -€173,292
down €173,292 (-95.9%), from €180,713 to €7,421
- Depreciation -€15,553
no longer reported in 2025 (was €15,553)
- Taxes -€5,821
down €5,821 (-90.3%), from €6,446 to €625
- Financial charges -€5,371
down €5,371 (-55.0%), from €9,767 to €4,397
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €362,451 | €273,612 | -€88,838 | -24.5% |
| Fixed assets | 21/28 | €114,117 | €1,286 | -€112,831 | -98.9% |
| Tangible fixed assets | 22/27 | €112,831 | - | -€112,831 | |
| Land and buildings | 22 | €47,370 | - | -€47,370 | |
| Plant, machinery and equipment | 23 | €11,269 | - | -€11,269 | |
| Furniture and vehicles | 24 | €54,192 | - | -€54,192 | |
| Financial fixed assets | 28 | €1,286 | €1,286 | = | 0.0% |
| Current assets | 29/58 | €248,334 | €272,326 | +€23,993 | +9.7% |
| Stocks and contracts in progress | 3 | €92,141 | - | -€92,141 | |
| Stocks | 30/36 | €92,141 | - | -€92,141 | |
| Amounts receivable within one year | 40/41 | €118,256 | €271,186 | +€152,929 | +129% |
| Trade receivables | 40 | €82,811 | €41,145 | -€41,666 | -50.3% |
| Other amounts receivable | 41 | €35,445 | €230,040 | +€194,595 | +549% |
| Cash at bank and in hand | 54/58 | €37,788 | €1,141 | -€36,648 | -97.0% |
| Deferred charges and accrued income | 490/1 | €148 | - | -€148 | |
| Total equity and liabilities | 10/49 | €362,451 | €273,612 | -€88,838 | -24.5% |
| Equity | 10/15 | €186,818 | €187,963 | +€1,144 | +0.6% |
| Contributions | 10/11 | €22,331 | €22,331 | = | 0.0% |
| Reserves | 13 | €18,228 | €18,228 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,922 | €7,922 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,922 | €7,922 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,306 | €10,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,260 | €147,404 | +€1,144 | +0.8% |
| Amounts payable | 17/49 | €175,632 | €85,650 | -€89,982 | -51.2% |
| Amounts payable after more than one year | 17 | €27,952 | €21,195 | -€6,758 | -24.2% |
| Financial debts | 170/4 | €27,952 | €21,195 | -€6,758 | -24.2% |
| Amounts payable within one year | 42/48 | €147,680 | €64,455 | -€83,225 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €6,828 | €6,758 | -€70 | -1.0% |
| Financial debts | 43 | €8,373 | - | -€8,373 | |
| Credit institutions | 430/8 | €8,373 | - | -€8,373 | |
| Trade debts | 44 | €102,597 | €50,314 | -€52,283 | -51.0% |
| Suppliers | 440/4 | €102,597 | €50,314 | -€52,283 | -51.0% |
| Taxes, remuneration and social security | 45 | €29,456 | €6,958 | -€22,499 | -76.4% |
| Taxes | 450/3 | €6,514 | €6,455 | -€59 | -0.9% |
| Remuneration and social security | 454/9 | €22,942 | €503 | -€22,439 | -97.8% |
| Other amounts payable | 47/48 | €426 | €426 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €180,713 | €7,421 | -€173,292 | -95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,553 | - | -€15,553 | |
| Other operating charges | 640/8 | €1,201 | €297 | -€905 | -75.3% |
| Gross operating margin | 9900 | €237,019 | €13,884 | -€223,135 | -94.1% |
| Operating profit (loss) | 9901 | €39,551 | €6,166 | -€33,385 | -84.4% |
| Financial income | 75/76B | €3 | €1 | -€3 | -84.6% |
| Recurring financial income | 75 | €3 | €1 | -€3 | -84.6% |
| Financial charges | 65/66B | €9,767 | €4,397 | -€5,371 | -55.0% |
| Recurring financial charges | 65 | €9,767 | €4,397 | -€5,371 | -55.0% |
| Profit (loss) for the period before taxes | 9903 | €29,787 | €1,770 | -€28,018 | -94.1% |
| Income taxes | 67/77 | €6,446 | €625 | -€5,821 | -90.3% |
| Profit (loss) for the period | 9904 | €23,341 | €1,144 | -€22,197 | -95.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,341 | €1,144 | -€22,197 | -95.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.