micala management: what changed
Two fiscal 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.
micala management
Largest movements
- Tangible fixed assets -€44,850
down €44,850 (-5.0%), from €896,057 to €851,207
- Cash +€23,205
up €23,205 (+321.2%), from €7,224 to €30,429
mainly Depreciation (+€44,850) and Receivables within one year (+€11,059)
- Receivables within one year -€11,059
down €11,059 (-85.5%), from €12,930 to €1,871
- Debts after one year -€18,055
down €18,055 (-2.1%), from €852,465 to €834,410
- Tax, wage and social debts -€13,816
down €13,816 (-38.4%), from €36,023 to €22,207
- Other debts -€10,769
no longer reported in 2025 (was €10,769)
- Gross operating margin -€17,903
down €17,903 (-17.7%), from €101,303 to €83,400
- Financial charges +€5,589
up €5,589 (+29.6%), from €18,884 to €24,473
- Taxes -€5,508
down €5,508 (-58.3%), from €9,452 to €3,944
- Depreciation -€4,612
down €4,612 (-9.3%), from €49,462 to €44,850
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.
Cash bridge derived
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 | €1,025,204 | €987,969 | -€37,235 | -3.6% |
| Fixed assets | 21/28 | €896,057 | €851,207 | -€44,850 | -5.0% |
| Tangible fixed assets | 22/27 | €896,057 | €851,207 | -€44,850 | -5.0% |
| Land and buildings | 22 | €621,773 | €604,629 | -€17,143 | -2.8% |
| Plant, machinery and equipment | 23 | €223,406 | €208,876 | -€14,530 | -6.5% |
| Furniture and vehicles | 24 | €50,879 | €37,702 | -€13,177 | -25.9% |
| Current assets | 29/58 | €129,147 | €136,762 | +€7,615 | +5.9% |
| Amounts receivable after more than one year | 29 | €107,074 | €102,398 | -€4,675 | -4.4% |
| Other amounts receivable | 291 | €107,074 | €102,398 | -€4,675 | -4.4% |
| Amounts receivable within one year | 40/41 | €12,930 | €1,871 | -€11,059 | -85.5% |
| Trade receivables | 40 | €12,930 | €1,871 | -€11,059 | -85.5% |
| Cash at bank and in hand | 54/58 | €7,224 | €30,429 | +€23,205 | +321.2% |
| Deferred charges and accrued income | 490/1 | €1,919 | €2,064 | +€145 | +7.5% |
| Total equity and liabilities | 10/49 | €1,025,204 | €987,969 | -€37,235 | -3.6% |
| Equity | 10/15 | €100,542 | €108,159 | +€7,617 | +7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,070 | €56,687 | +€7,617 | +15.5% |
| Distributable reserves | 133 | €49,070 | €56,687 | +€7,617 | +15.5% |
| Profit (loss) carried forward | 14 | €32,872 | €32,872 | = | 0.0% |
| Amounts payable | 17/49 | €924,662 | €879,810 | -€44,852 | -4.9% |
| Amounts payable after more than one year | 17 | €852,465 | €834,410 | -€18,055 | -2.1% |
| Financial debts | 170/4 | €852,465 | €834,410 | -€18,055 | -2.1% |
| Amounts payable within one year | 42/48 | €72,197 | €45,400 | -€26,797 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €23,970 | €18,055 | -€5,914 | -24.7% |
| Trade debts | 44 | €1,435 | €5,138 | +€3,703 | +258.1% |
| Suppliers | 440/4 | €1,435 | €5,138 | +€3,703 | +258.1% |
| Taxes, remuneration and social security | 45 | €36,023 | €22,207 | -€13,816 | -38.4% |
| Taxes | 450/3 | €36,023 | €22,207 | -€13,816 | -38.4% |
| Other amounts payable | 47/48 | €10,769 | - | -€10,769 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,462 | €44,850 | -€4,612 | -9.3% |
| Other operating charges | 640/8 | €5,139 | €5,470 | +€331 | +6.4% |
| Gross operating margin | 9900 | €101,303 | €83,400 | -€17,903 | -17.7% |
| Operating profit (loss) | 9901 | €46,702 | €33,081 | -€13,622 | -29.2% |
| Financial income | 75/76B | €2,977 | €2,953 | -€24 | -0.8% |
| Recurring financial income | 75 | €2,977 | €2,953 | -€24 | -0.8% |
| Financial charges | 65/66B | €18,884 | €24,473 | +€5,589 | +29.6% |
| Recurring financial charges | 65 | €18,884 | €24,473 | +€5,589 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €30,795 | €11,561 | -€19,234 | -62.5% |
| Income taxes | 67/77 | €9,452 | €3,944 | -€5,508 | -58.3% |
| Profit (loss) for the period | 9904 | €21,344 | €7,617 | -€13,727 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,344 | €7,617 | -€13,727 | -64.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.