RONNY MICHIELS: what changed
RONNY MICHIELS
Largest movements
- Cash +€23,123
up €23,123 (+24.8%), from €93,305 to €116,428
mainly Net result for the year (+€22,619) and Other debts (+€7,265)
- Receivables within one year +€12,750
up €12,750 (+33.7%), from €37,879 to €50,629
of which Other amounts receivable: +€6,933
- Reserves +€22,619
up €22,619 (+26.5%), from €85,196 to €107,815
of which Distributable reserves: +€22,619
- Other debts +€7,265
up €7,265 (+31.3%), from €23,200 to €30,466
- Trade debts +€2,774
up €2,774 (+102%), from €2,711 to €5,485
- Tax, wage and social debts +€2,755
up €2,755 (+130%), from €2,120 to €4,875
- Gross operating margin +€7,723
up €7,723 (+42.3%), from €18,271 to €25,993
- Taxes +€1,636
up €1,636 (+99.0%), from €1,653 to €3,289
- Other operating charges -€1,420
down €1,420 (-60.9%), from €2,333 to €913
- Financial income +€1,257
up €1,257 (+1,138%), from €110 to €1,367
- Financial charges +€460
up €460 (+576%), from €80 to €540
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 | €131,827 | €167,240 | +€35,413 | +26.9% |
| Current assets | 29/58 | €131,827 | €167,240 | +€35,413 | +26.9% |
| Amounts receivable within one year | 40/41 | €37,879 | €50,629 | +€12,750 | +33.7% |
| Trade receivables | 40 | €28,286 | €34,104 | +€5,818 | +20.6% |
| Other amounts receivable | 41 | €9,593 | €16,526 | +€6,933 | +72.3% |
| Cash at bank and in hand | 54/58 | €93,305 | €116,428 | +€23,123 | +24.8% |
| Deferred charges and accrued income | 490/1 | €643 | €183 | -€461 | -71.6% |
| Total equity and liabilities | 10/49 | €131,827 | €167,240 | +€35,413 | +26.9% |
| Equity | 10/15 | €103,796 | €126,415 | +€22,619 | +21.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,196 | €107,815 | +€22,619 | +26.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €83,336 | €105,955 | +€22,619 | +27.1% |
| Amounts payable | 17/49 | €28,031 | €40,826 | +€12,794 | +45.6% |
| Amounts payable within one year | 42/48 | €28,031 | €40,826 | +€12,794 | +45.6% |
| Trade debts | 44 | €2,711 | €5,485 | +€2,774 | +102% |
| Suppliers | 440/4 | €2,711 | €5,485 | +€2,774 | +102% |
| Taxes, remuneration and social security | 45 | €2,120 | €4,875 | +€2,755 | +130% |
| Taxes | 450/3 | €2,120 | €4,875 | +€2,755 | +130% |
| Other amounts payable | 47/48 | €23,200 | €30,466 | +€7,265 | +31.3% |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Other operating charges | 640/8 | €2,333 | €913 | -€1,420 | -60.9% |
| Gross operating margin | 9900 | €18,271 | €25,993 | +€7,723 | +42.3% |
| Operating profit (loss) | 9901 | €15,938 | €25,080 | +€9,142 | +57.4% |
| Financial income | 75/76B | €110 | €1,367 | +€1,257 | +1,138% |
| Recurring financial income | 75 | €110 | €1,367 | +€1,257 | +1,138% |
| Financial charges | 65/66B | €80 | €540 | +€460 | +576% |
| Recurring financial charges | 65 | €80 | €540 | +€460 | +576% |
| Profit (loss) for the period before taxes | 9903 | €15,968 | €25,908 | +€9,940 | +62.2% |
| Income taxes | 67/77 | €1,653 | €3,289 | +€1,636 | +99.0% |
| Profit (loss) for the period | 9904 | €14,315 | €22,619 | +€8,304 | +58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,315 | €22,619 | +€8,304 | +58.0% |
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 2 November 2026 via checked.be.