VAN INGELGOM MICHEL: 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.
VAN INGELGOM MICHEL
Largest movements
- Cash -€269,879
down €269,879 (-90.0%), from €299,811 to €29,932
mainly Current investments (-€211,184) and Tax, wage and social debts (-€42,975)
- Current investments +€211,184
up €211,184 (+26.7%), from €791,024 to €1.0m
- Tax, wage and social debts -€42,975
down €42,975 (-100%), from €42,975 to €0
- Profit (loss) carried forward -€28,140
down €28,140, from €22,419 to -€5,721
- Gross operating margin -€159,013
down €159,013, from €127,234 to -€31,779
- Taxes -€44,465
down €44,465 (-99.4%), from €44,724 to €259
- Financial income -€2,363
down €2,363 (-27.2%), from €8,680 to €6,317
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 | €1,131,134 | €1,061,647 | -€69,487 | -6.1% |
| Fixed assets | 21/28 | €2,727 | €1,551 | -€1,176 | -43.1% |
| Tangible fixed assets | 22/27 | €2,587 | €1,411 | -€1,176 | -45.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,587 | €1,411 | -€1,176 | -45.5% |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €1,128,407 | €1,060,096 | -€68,311 | -6.1% |
| Amounts receivable after more than one year | 29 | €23,824 | €17,471 | -€6,353 | -26.7% |
| Other amounts receivable | 291 | €23,824 | €17,471 | -€6,353 | -26.7% |
| Amounts receivable within one year | 40/41 | €13,490 | €8,732 | -€4,758 | -35.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €13,490 | €8,732 | -€4,758 | -35.3% |
| Current investments | 50/53 | €791,024 | €1,002,207 | +€211,184 | +26.7% |
| Cash at bank and in hand | 54/58 | €299,811 | €29,932 | -€269,879 | -90.0% |
| Deferred charges and accrued income | 490/1 | €258 | €1,754 | +€1,496 | +579% |
| Total equity and liabilities | 10/49 | €1,131,134 | €1,061,647 | -€69,487 | -6.1% |
| Equity | 10/15 | €1,087,469 | €1,057,469 | -€30,000 | -2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,058,850 | €1,056,990 | -€1,860 | -0.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,058,850 | €1,056,990 | -€1,860 | -0.2% |
| Profit (loss) carried forward | 14 | €22,419 | -€5,721 | -€28,140 | |
| Amounts payable | 17/49 | €43,665 | €4,178 | -€39,487 | -90.4% |
| Amounts payable within one year | 42/48 | €43,665 | €3,387 | -€40,278 | -92.2% |
| Trade debts | 44 | €690 | €715 | +€25 | +3.7% |
| Suppliers | 440/4 | €690 | €715 | +€25 | +3.7% |
| Taxes, remuneration and social security | 45 | €42,975 | €0 | -€42,975 | -100% |
| Taxes | 450/3 | €42,975 | €0 | -€42,975 | -100% |
| Other amounts payable | 47/48 | €0 | €2,672 | +€2,672 | |
| Accrued charges and deferred income | 492/3 | - | €791 | +€791 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €942 | €1,176 | +€235 | +24.9% |
| Other operating charges | 640/8 | €1,590 | €2,345 | +€756 | +47.5% |
| Gross operating margin | 9900 | €127,234 | -€31,779 | -€159,013 | |
| Operating profit (loss) | 9901 | €124,703 | -€35,301 | -€160,003 | |
| Financial income | 75/76B | €8,680 | €6,317 | -€2,363 | -27.2% |
| Recurring financial income | 75 | €8,680 | €6,317 | -€2,363 | -27.2% |
| Financial charges | 65/66B | €455 | €756 | +€302 | +66.4% |
| Recurring financial charges | 65 | €455 | €756 | +€302 | +66.4% |
| Profit (loss) for the period before taxes | 9903 | €132,927 | -€29,740 | -€162,668 | |
| Income taxes | 67/77 | €44,724 | €259 | -€44,465 | -99.4% |
| Profit (loss) for the period | 9904 | €88,204 | -€30,000 | -€118,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,204 | -€30,000 | -€118,203 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.