SPRL MICHEL GAVA: 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.
SPRL MICHEL GAVA
Largest movements
- Cash +€32,686
up €32,686 (+57.3%), from €57,051 to €89,737
mainly Other debts (+€66,363) and Net result for the year (+€38,245)
- Receivables within one year -€4,913
down €4,913 (-3.9%), from €125,477 to €120,564
of which Other amounts receivable: -€4,000
- Tangible fixed assets +€3,376
up €3,376 (+22.5%), from €14,974 to €18,350
of which Furniture and vehicles: +€4,474
- Other debts +€66,363
up €66,363 (+110%), from €60,474 to €126,837
- Profit (loss) carried forward -€21,755
down €21,755 (-32.3%), from €67,427 to €45,672
- Tax, wage and social debts -€5,878
down €5,878 (-17.5%), from €33,502 to €27,624
of which Taxes: -€8,013
- Short-term financial debts -€4,866
no longer reported in 2025 (was €4,866)
- Financial charges +€32,675
up €32,675 (+57.6%), from €56,717 to €89,393
- Gross operating margin +€11,990
up €11,990 (+7.0%), from €170,821 to €182,811
- Taxes -€5,807
down €5,807 (-26.4%), from €21,989 to €16,182
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 | €198,608 | €229,948 | +€31,340 | +15.8% |
| Fixed assets | 21/28 | €14,974 | €18,350 | +€3,376 | +22.5% |
| Tangible fixed assets | 22/27 | €14,974 | €18,350 | +€3,376 | +22.5% |
| Land and buildings | 22 | €8,676 | €8,676 | = | 0.0% |
| Furniture and vehicles | 24 | €2,555 | €7,029 | +€4,474 | +175% |
| Other tangible fixed assets | 26 | €3,743 | €2,645 | -€1,098 | -29.3% |
| Current assets | 29/58 | €183,634 | €211,598 | +€27,964 | +15.2% |
| Amounts receivable within one year | 40/41 | €125,477 | €120,564 | -€4,913 | -3.9% |
| Trade receivables | 40 | €121,477 | €120,564 | -€913 | -0.8% |
| Other amounts receivable | 41 | €4,000 | - | -€4,000 | |
| Cash at bank and in hand | 54/58 | €57,051 | €89,737 | +€32,686 | +57.3% |
| Deferred charges and accrued income | 490/1 | €1,105 | €1,296 | +€191 | +17.3% |
| Total equity and liabilities | 10/49 | €198,608 | €229,948 | +€31,340 | +15.8% |
| Equity | 10/15 | €90,356 | €68,601 | -€21,755 | -24.1% |
| Contributions | 10/11 | €8,059 | €8,059 | = | 0.0% |
| Reserves | 13 | €14,870 | €14,870 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,870 | €14,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,427 | €45,672 | -€21,755 | -32.3% |
| Amounts payable | 17/49 | €108,252 | €161,346 | +€53,095 | +49.0% |
| Amounts payable within one year | 42/48 | €108,252 | €161,346 | +€53,095 | +49.0% |
| Current portion of amounts payable after more than one year | 42 | €5,557 | €3,387 | -€2,170 | -39.1% |
| Financial debts | 43 | €4,866 | - | -€4,866 | |
| Credit institutions | 430/8 | €4,866 | - | -€4,866 | |
| Trade debts | 44 | €3,853 | €3,498 | -€355 | -9.2% |
| Suppliers | 440/4 | €3,853 | €3,498 | -€355 | -9.2% |
| Taxes, remuneration and social security | 45 | €33,502 | €27,624 | -€5,878 | -17.5% |
| Taxes | 450/3 | €21,655 | €13,642 | -€8,013 | -37.0% |
| Remuneration and social security | 454/9 | €11,847 | €13,982 | +€2,135 | +18.0% |
| Other amounts payable | 47/48 | €60,474 | €126,837 | +€66,363 | +110% |
| Remuneration, social security and pensions | 62 | €35,686 | €35,718 | +€32 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,947 | €2,694 | +€748 | +38.4% |
| Other operating charges | 640/8 | €1,188 | €1,222 | +€34 | +2.8% |
| Gross operating margin | 9900 | €170,821 | €182,811 | +€11,990 | +7.0% |
| Operating profit (loss) | 9901 | €132,000 | €143,177 | +€11,177 | +8.5% |
| Financial income | 75/76B | €399 | €643 | +€244 | +61.2% |
| Recurring financial income | 75 | €399 | €643 | +€244 | +61.2% |
| Financial charges | 65/66B | €56,717 | €89,393 | +€32,675 | +57.6% |
| Recurring financial charges | 65 | €56,717 | €89,393 | +€32,675 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | €75,682 | €54,427 | -€21,254 | -28.1% |
| Income taxes | 67/77 | €21,989 | €16,182 | -€5,807 | -26.4% |
| Profit (loss) for the period | 9904 | €53,693 | €38,245 | -€15,448 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,693 | €38,245 | -€15,448 | -28.8% |
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 31 October 2026 via checked.be.