SINT MICHIELS: 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.
SINT MICHIELS
Largest movements
- Tangible fixed assets -€8,055
down €8,055 (-8.2%), from €97,871 to €89,816
of which Land and buildings: -€6,336
- Profit (loss) carried forward -€14,657
down €14,657 (-18.1%), from -€80,926 to -€95,583
- Other debts +€13,381
up €13,381 (+28.5%), from €46,924 to €60,305
- Current portion of long-term debt -€3,546
down €3,546 (-58.0%), from €6,116 to €2,570
- Debts after one year -€2,570
no longer reported in 2025 (was €2,570)
- Gross operating margin +€10,128
up €10,128 (+73.9%), from -€13,708 to -€3,581
- Depreciation -€2,691
down €2,691 (-25.0%), from €10,746 to €8,055
- Other operating charges -€534
down €534 (-16.1%), from €3,314 to €2,779
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 | €98,922 | €90,750 | -€8,172 | -8.3% |
| Fixed assets | 21/28 | €98,121 | €90,066 | -€8,055 | -8.2% |
| Tangible fixed assets | 22/27 | €97,871 | €89,816 | -€8,055 | -8.2% |
| Land and buildings | 22 | €87,335 | €80,998 | -€6,336 | -7.3% |
| Plant, machinery and equipment | 23 | €10,537 | €8,818 | -€1,718 | -16.3% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €801 | €683 | -€118 | -14.7% |
| Cash at bank and in hand | 54/58 | €270 | €128 | -€142 | -52.6% |
| Deferred charges and accrued income | 490/1 | €531 | €555 | +€24 | +4.5% |
| Total equity and liabilities | 10/49 | €98,922 | €90,750 | -€8,172 | -8.3% |
| Equity | 10/15 | €42,403 | €27,746 | -€14,657 | -34.6% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €24,171 | €24,171 | = | 0.0% |
| Distributable reserves | 133 | €24,171 | €24,171 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,926 | -€95,583 | -€14,657 | -18.1% |
| Amounts payable | 17/49 | €56,519 | €63,004 | +€6,484 | +11.5% |
| Amounts payable after more than one year | 17 | €2,570 | - | -€2,570 | |
| Financial debts | 170/4 | €2,570 | - | -€2,570 | |
| Amounts payable within one year | 42/48 | €53,949 | €63,004 | +€9,055 | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €6,116 | €2,570 | -€3,546 | -58.0% |
| Trade debts | 44 | €263 | €128 | -€135 | -51.3% |
| Suppliers | 440/4 | €263 | €128 | -€135 | -51.3% |
| Taxes, remuneration and social security | 45 | €646 | - | -€646 | |
| Taxes | 450/3 | €646 | - | -€646 | |
| Other amounts payable | 47/48 | €46,924 | €60,305 | +€13,381 | +28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,746 | €8,055 | -€2,691 | -25.0% |
| Other operating charges | 640/8 | €3,314 | €2,779 | -€534 | -16.1% |
| Gross operating margin | 9900 | -€13,708 | -€3,581 | +€10,128 | +73.9% |
| Operating profit (loss) | 9901 | -€27,767 | -€14,415 | +€13,353 | +48.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.7% |
| Financial charges | 65/66B | €312 | €242 | -€70 | -22.5% |
| Recurring financial charges | 65 | €312 | €242 | -€70 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | -€28,079 | -€14,657 | +€13,422 | +47.8% |
| Profit (loss) for the period | 9904 | -€28,079 | -€14,657 | +€13,422 | +47.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,079 | -€14,657 | +€13,422 | +47.8% |
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 25 October 2026 via checked.be.