MICAN: 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.
MICAN
Largest movements
- Receivables within one year -€66,114
down €66,114 (-50.0%), from €132,203 to €66,089
of which Other amounts receivable: -€68,075
- Tangible fixed assets -€24,062
down €24,062 (-10.7%), from €224,734 to €200,672
of which Furniture and vehicles: -€18,324
- Cash +€18,502
up €18,502 (+38.5%), from €48,037 to €66,539
mainly Contributions, distributions and other (+€190,466) and Receivables within one year (+€66,114)
- Provisions -€243,400
down €243,400 (-89.6%), from €271,732 to €28,332
- Profit (loss) carried forward +€91,461
no longer reported in 2025 (was -€91,461)
- Reserves +€73,735
up €73,735 (+50.6%), from €145,691 to €219,426
of which Distributable reserves: +€67,161
- Other debts +€28,600
new in 2025: €28,600
- Trade debts -€23,499
down €23,499 (-99.9%), from €23,530 to €31
- Taxes +€41,986
up €41,986 (+43,640%), from €96 to €42,083
- Gross operating margin -€5,119
down €5,119 (-83.6%), from -€6,127 to -€11,247
- Depreciation +€712
up €712 (+3.1%), from €23,350 to €24,062
- Financial income +€681
up €681 (+27,800%), from €2 to €684
- Other operating charges +€135
up €135 (+20.3%), from €665 to €801
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 | €411,492 | €339,817 | -€71,674 | -17.4% |
| Fixed assets | 21/28 | €231,251 | €207,189 | -€24,062 | -10.4% |
| Tangible fixed assets | 22/27 | €224,734 | €200,672 | -€24,062 | -10.7% |
| Land and buildings | 22 | €158,917 | €154,031 | -€4,887 | -3.1% |
| Plant, machinery and equipment | 23 | €1,264 | €413 | -€851 | -67.3% |
| Furniture and vehicles | 24 | €64,553 | €46,229 | -€18,324 | -28.4% |
| Financial fixed assets | 28 | €6,517 | €6,517 | = | 0.0% |
| Current assets | 29/58 | €180,240 | €132,628 | -€47,612 | -26.4% |
| Amounts receivable within one year | 40/41 | €132,203 | €66,089 | -€66,114 | -50.0% |
| Trade receivables | 40 | €1,957 | €3,919 | +€1,961 | +100% |
| Other amounts receivable | 41 | €130,245 | €62,170 | -€68,075 | -52.3% |
| Cash at bank and in hand | 54/58 | €48,037 | €66,539 | +€18,502 | +38.5% |
| Total equity and liabilities | 10/49 | €411,492 | €339,817 | -€71,674 | -17.4% |
| Equity | 10/15 | €116,230 | €281,426 | +€165,196 | +142% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €145,691 | €219,426 | +€73,735 | +50.6% |
| Non-distributable reserves | 130/1 | €6,247 | €6,247 | = | 0.0% |
| Legal reserve | 130 | €6,247 | €6,247 | = | 0.0% |
| Tax-exempt reserves | 132 | €81,266 | €87,840 | +€6,574 | +8.1% |
| Distributable reserves | 133 | €58,177 | €125,338 | +€67,161 | +115% |
| Profit (loss) carried forward | 14 | -€91,461 | - | +€91,461 | |
| Provisions and deferred taxes | 16 | €271,732 | €28,332 | -€243,400 | -89.6% |
| Deferred taxes | 168 | €271,732 | €28,332 | -€243,400 | -89.6% |
| Amounts payable | 17/49 | €23,530 | €30,059 | +€6,529 | +27.7% |
| Amounts payable within one year | 42/48 | €23,530 | €30,059 | +€6,529 | +27.7% |
| Financial debts | 43 | - | €78 | +€78 | |
| Credit institutions | 430/8 | - | €78 | +€78 | |
| Trade debts | 44 | €23,530 | €31 | -€23,499 | -99.9% |
| Suppliers | 440/4 | €23,530 | €31 | -€23,499 | -99.9% |
| Taxes, remuneration and social security | 45 | - | €1,350 | +€1,350 | |
| Taxes | 450/3 | - | €1,350 | +€1,350 | |
| Other amounts payable | 47/48 | - | €28,600 | +€28,600 | |
| Non-recurring operating income | 76A | €16,529 | - | -€16,529 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,350 | €24,062 | +€712 | +3.1% |
| Other operating charges | 640/8 | €665 | €801 | +€135 | +20.3% |
| Gross operating margin | 9900 | -€6,127 | -€11,247 | -€5,119 | -83.6% |
| Operating profit (loss) | 9901 | -€30,142 | -€36,109 | -€5,967 | -19.8% |
| Financial income | 75/76B | €2 | €684 | +€681 | +27,800% |
| Recurring financial income | 75 | €2 | €684 | +€681 | +27,800% |
| Financial charges | 65/66B | €667 | €695 | +€28 | +4.2% |
| Recurring financial charges | 65 | €667 | €695 | +€28 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | -€30,807 | -€36,121 | -€5,314 | -17.2% |
| Transfer from deferred taxes | 780 | €1,215 | €52,934 | +€51,719 | +4,256% |
| Income taxes | 67/77 | €96 | €42,083 | +€41,986 | +43,640% |
| Profit (loss) for the period | 9904 | -€29,688 | -€25,269 | +€4,419 | +14.9% |
| Transfer from tax-exempt reserves | 789 | €3,646 | €183,892 | +€180,246 | +4,944% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,042 | €158,623 | +€184,665 |
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 14 October 2026 via checked.be.