Michiels Engineering: what changed
Michiels Engineering
Largest movements
- Cash +€67,273
up €67,273 (+422%), from €15,936 to €83,209
mainly Net result for the year (+€41,119) and Tax, wage and social debts (+€12,159)
- Receivables within one year -€10,214
down €10,214 (-31.8%), from €32,115 to €21,901
- Profit (loss) carried forward +€41,119
up €41,119 (+216%), from €19,003 to €60,122
- Tax, wage and social debts +€12,159
up €12,159 (+156%), from €7,793 to €19,953
- Other debts +€3,172
up €3,172 (+17.2%), from €18,480 to €21,652
- Gross operating margin +€27,002
up €27,002 (+106%), from €25,580 to €52,581
- Taxes +€5,502
up €5,502 (+106%), from €5,200 to €10,702
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 | €49,291 | €105,755 | +€56,464 | +115% |
| Fixed assets | 21/28 | €1,239 | €645 | -€594 | -48.0% |
| Tangible fixed assets | 22/27 | €1,239 | €645 | -€594 | -48.0% |
| Furniture and vehicles | 24 | €1,239 | €645 | -€594 | -48.0% |
| Current assets | 29/58 | €48,052 | €105,110 | +€57,058 | +119% |
| Amounts receivable within one year | 40/41 | €32,115 | €21,901 | -€10,214 | -31.8% |
| Trade receivables | 40 | €32,115 | €21,901 | -€10,214 | -31.8% |
| Cash at bank and in hand | 54/58 | €15,936 | €83,209 | +€67,273 | +422% |
| Total equity and liabilities | 10/49 | €49,291 | €105,755 | +€56,464 | +115% |
| Equity | 10/15 | €22,003 | €63,122 | +€41,119 | +187% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,003 | €60,122 | +€41,119 | +216% |
| Amounts payable | 17/49 | €27,288 | €42,633 | +€15,345 | +56.2% |
| Amounts payable within one year | 42/48 | €27,288 | €42,633 | +€15,345 | +56.2% |
| Trade debts | 44 | €1,015 | €1,029 | +€14 | +1.3% |
| Suppliers | 440/4 | €1,015 | €1,029 | +€14 | +1.3% |
| Taxes, remuneration and social security | 45 | €7,793 | €19,953 | +€12,159 | +156% |
| Taxes | 450/3 | €7,793 | €19,953 | +€12,159 | +156% |
| Other amounts payable | 47/48 | €18,480 | €21,652 | +€3,172 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €544 | €594 | +€50 | +9.3% |
| Gross operating margin | 9900 | €25,580 | €52,581 | +€27,002 | +106% |
| Operating profit (loss) | 9901 | €25,036 | €51,987 | +€26,951 | +108% |
| Financial charges | 65/66B | - | €165 | +€165 | |
| Recurring financial charges | 65 | - | €165 | +€165 | |
| Profit (loss) for the period before taxes | 9903 | €25,036 | €51,821 | +€26,786 | +107% |
| Income taxes | 67/77 | €5,200 | €10,702 | +€5,502 | +106% |
| Profit (loss) for the period | 9904 | €19,836 | €41,119 | +€21,284 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €19,836 | €41,119 | +€21,284 | +107% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.