Timon Michiels Catering: what changed
Timon Michiels Catering
Largest movements
- Receivables within one year +€21,411
up €21,411 (+139%), from €15,445 to €36,856
of which Trade receivables: +€21,411
- Cash -€20,585
down €20,585 (-68.9%), from €29,876 to €9,291
mainly Receivables within one year (-€21,411) and Net result for the year (-€15,013)
- Trade debts +€24,752
up €24,752 (+249%), from €9,929 to €34,681
- Profit (loss) carried forward -€15,013
down €15,013 (-303%), from -€4,958 to -€19,971
- Other debts -€13,907
down €13,907 (-90.3%), from €15,404 to €1,498
- Tax, wage and social debts +€6,223
up €6,223 (+71.8%), from €8,664 to €14,887
- Financial charges +€19,029
up €19,029 (+3,506%), from €543 to €19,572
- Gross operating margin -€9,818
down €9,818 (-45.6%), from €21,510 to €11,692
- Taxes -€2,232
down €2,232 (-30.5%), from €7,315 to €5,082
- Depreciation +€445
up €445 (+41.9%), from €1,060 to €1,505
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 | €474,305 | €476,095 | +€1,791 | +0.4% |
| Fixed assets | 21/28 | €426,849 | €428,414 | +€1,566 | +0.4% |
| Intangible fixed assets | 21 | - | €1,586 | +€1,586 | |
| Tangible fixed assets | 22/27 | €1,849 | €1,829 | -€20 | -1.1% |
| Plant, machinery and equipment | 23 | €1,210 | €615 | -€595 | -49.2% |
| Furniture and vehicles | 24 | €639 | €1,214 | +€575 | +89.9% |
| Financial fixed assets | 28 | €425,000 | €425,000 | = | 0.0% |
| Current assets | 29/58 | €47,456 | €47,681 | +€225 | +0.5% |
| Amounts receivable within one year | 40/41 | €15,445 | €36,856 | +€21,411 | +139% |
| Trade receivables | 40 | €15,345 | €36,756 | +€21,411 | +140% |
| Other amounts receivable | 41 | €100 | €100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,876 | €9,291 | -€20,585 | -68.9% |
| Deferred charges and accrued income | 490/1 | €2,135 | €1,534 | -€601 | -28.1% |
| Total equity and liabilities | 10/49 | €474,305 | €476,095 | +€1,791 | +0.4% |
| Equity | 10/15 | €15,043 | €30 | -€15,013 | -99.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €17,501 | €17,501 | = | 0.0% |
| Distributable reserves | 133 | €17,501 | €17,501 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,958 | -€19,971 | -€15,013 | -303% |
| Amounts payable | 17/49 | €459,262 | €476,065 | +€16,804 | +3.7% |
| Amounts payable after more than one year | 17 | €425,000 | €425,000 | = | 0.0% |
| Financial debts | 170/4 | €425,000 | €425,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,997 | €51,065 | +€17,069 | +50.2% |
| Trade debts | 44 | €9,929 | €34,681 | +€24,752 | +249% |
| Suppliers | 440/4 | €9,929 | €34,681 | +€24,752 | +249% |
| Taxes, remuneration and social security | 45 | €8,664 | €14,887 | +€6,223 | +71.8% |
| Taxes | 450/3 | €8,664 | €14,887 | +€6,223 | +71.8% |
| Other amounts payable | 47/48 | €15,404 | €1,498 | -€13,907 | -90.3% |
| Accrued charges and deferred income | 492/3 | €265 | €0 | -€265 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,060 | €1,505 | +€445 | +41.9% |
| Other operating charges | 640/8 | €895 | €720 | -€175 | -19.6% |
| Gross operating margin | 9900 | €21,510 | €11,692 | -€9,818 | -45.6% |
| Operating profit (loss) | 9901 | €19,554 | €9,467 | -€10,087 | -51.6% |
| Financial income | 75/76B | €17 | €174 | +€157 | +946% |
| Recurring financial income | 75 | €17 | €174 | +€157 | +946% |
| Financial charges | 65/66B | €543 | €19,572 | +€19,029 | +3,506% |
| Recurring financial charges | 65 | €543 | €19,572 | +€19,029 | +3,506% |
| Profit (loss) for the period before taxes | 9903 | €19,028 | -€9,931 | -€28,959 | |
| Income taxes | 67/77 | €7,315 | €5,082 | -€2,232 | -30.5% |
| Profit (loss) for the period | 9904 | €11,714 | -€15,013 | -€26,727 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,714 | -€15,013 | -€26,727 |
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 4 November 2026 via checked.be.