M I K E: 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.
M I K E
Largest movements
- Receivables within one year +€30,890
up €30,890 (+46.9%), from €65,898 to €96,788
of which Trade receivables: +€24,024
- Tangible fixed assets -€13,701
down €13,701 (-28.8%), from €47,517 to €33,816
of which Land and buildings: -€13,196
- Cash +€3,676
up €3,676 (+40.1%), from €9,174 to €12,851
mainly Net result for the year (+€14,298) and Other debts (+€12,667)
- Reserves +€14,298
up €14,298 (+321%), from €4,448 to €18,746
- Other debts +€12,667
up €12,667 (+70.2%), from €18,047 to €30,714
- Debts after one year -€8,944
down €8,944 (-63.0%), from €14,198 to €5,253
- Tax, wage and social debts +€7,806
up €7,806 (+42.8%), from €18,229 to €26,035
of which Remuneration and social security: +€6,123
- Trade debts -€5,038
down €5,038 (-54.9%), from €9,183 to €4,145
- Gross operating margin -€35,709
down €35,709 (-23.0%), from €155,267 to €119,558
- Staff costs -€29,363
down €29,363 (-26.1%), from €112,405 to €83,041
- Taxes -€16,757
down €16,757 (-70.2%), from €23,882 to €7,125
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 | €122,590 | €143,455 | +€20,865 | +17.0% |
| Fixed assets | 21/28 | €47,517 | €33,816 | -€13,701 | -28.8% |
| Tangible fixed assets | 22/27 | €47,517 | €33,816 | -€13,701 | -28.8% |
| Land and buildings | 22 | €44,981 | €31,785 | -€13,196 | -29.3% |
| Furniture and vehicles | 24 | €704 | €448 | -€255 | -36.3% |
| Other tangible fixed assets | 26 | €1,833 | €1,583 | -€250 | -13.6% |
| Current assets | 29/58 | €75,073 | €109,639 | +€34,566 | +46.0% |
| Amounts receivable within one year | 40/41 | €65,898 | €96,788 | +€30,890 | +46.9% |
| Trade receivables | 40 | €65,898 | €89,922 | +€24,024 | +36.5% |
| Other amounts receivable | 41 | - | €6,866 | +€6,866 | |
| Cash at bank and in hand | 54/58 | €9,174 | €12,851 | +€3,676 | +40.1% |
| Total equity and liabilities | 10/49 | €122,590 | €143,455 | +€20,865 | +17.0% |
| Equity | 10/15 | €54,066 | €68,364 | +€14,298 | +26.4% |
| Contributions | 10/11 | €32,226 | €32,226 | = | 0.0% |
| Reserves | 13 | €4,448 | €18,746 | +€14,298 | +321% |
| Distributable reserves | 133 | €4,448 | €18,746 | +€14,298 | +321% |
| Profit (loss) carried forward | 14 | €17,391 | €17,391 | = | 0.0% |
| Amounts payable | 17/49 | €68,524 | €75,091 | +€6,567 | +9.6% |
| Amounts payable after more than one year | 17 | €14,198 | €5,253 | -€8,944 | -63.0% |
| Financial debts | 170/4 | €14,198 | €5,253 | -€8,944 | -63.0% |
| Amounts payable within one year | 42/48 | €54,327 | €69,838 | +€15,511 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €8,868 | €8,944 | +€77 | +0.9% |
| Trade debts | 44 | €9,183 | €4,145 | -€5,038 | -54.9% |
| Suppliers | 440/4 | €9,183 | €4,145 | -€5,038 | -54.9% |
| Taxes, remuneration and social security | 45 | €18,229 | €26,035 | +€7,806 | +42.8% |
| Taxes | 450/3 | €12,330 | €14,013 | +€1,683 | +13.6% |
| Remuneration and social security | 454/9 | €5,899 | €12,022 | +€6,123 | +104% |
| Other amounts payable | 47/48 | €18,047 | €30,714 | +€12,667 | +70.2% |
| Remuneration, social security and pensions | 62 | €112,405 | €83,041 | -€29,363 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,025 | €10,159 | +€134 | +1.3% |
| Other operating charges | 640/8 | €4,431 | €4,744 | +€314 | +7.1% |
| Gross operating margin | 9900 | €155,267 | €119,558 | -€35,709 | -23.0% |
| Operating profit (loss) | 9901 | €28,407 | €21,614 | -€6,793 | -23.9% |
| Financial charges | 65/66B | €275 | €191 | -€84 | -30.4% |
| Recurring financial charges | 65 | €275 | €191 | -€84 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €28,132 | €21,423 | -€6,709 | -23.8% |
| Income taxes | 67/77 | €23,882 | €7,125 | -€16,757 | -70.2% |
| Profit (loss) for the period | 9904 | €4,250 | €14,298 | +€10,047 | +236% |
| Profit (loss) for the period to be appropriated | 9905 | €4,250 | €14,298 | +€10,047 | +236% |
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 28 October 2026 via checked.be.