MiCas: 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.
MiCas
Largest movements
- Tangible fixed assets +€31,795
up €31,795 (+12.5%), from €255,295 to €287,090
of which Furniture and vehicles: +€23,235
- Cash +€9,275
up €9,275 (+11.3%), from €82,252 to €91,527
mainly Net result for the year (+€47,198) and Depreciation (+€16,260)
- Receivables within one year +€5,087
up €5,087 (+11.6%), from €43,785 to €48,871
of which Other amounts receivable: +€3,119
- Reserves +€47,198
up €47,198 (+22.2%), from €212,312 to €259,511
- Other debts +€10,218
up €10,218 (+74.7%), from €13,681 to €23,898
- Debts after one year -€8,670
down €8,670 (-4.2%), from €205,597 to €196,926
- Gross operating margin -€9,326
down €9,326 (-9.8%), from €95,029 to €85,703
- Taxes -€8,704
down €8,704 (-34.3%), from €25,349 to €16,644
- Depreciation +€5,083
up €5,083 (+45.5%), from €11,176 to €16,260
- Financial income -€3,906
down €3,906 (-97.0%), from €4,028 to €121
- Financial charges -€2,548
down €2,548 (-34.6%), from €7,362 to €4,814
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 | €458,262 | €504,106 | +€45,844 | +10.0% |
| Fixed assets | 21/28 | €255,295 | €287,090 | +€31,795 | +12.5% |
| Tangible fixed assets | 22/27 | €255,295 | €287,090 | +€31,795 | +12.5% |
| Land and buildings | 22 | €226,824 | €233,393 | +€6,569 | +2.9% |
| Plant, machinery and equipment | 23 | €17,299 | €19,290 | +€1,991 | +11.5% |
| Furniture and vehicles | 24 | €11,172 | €34,407 | +€23,235 | +208.0% |
| Current assets | 29/58 | €202,967 | €217,016 | +€14,048 | +6.9% |
| Amounts receivable within one year | 40/41 | €43,785 | €48,871 | +€5,087 | +11.6% |
| Trade receivables | 40 | €42,696 | €44,664 | +€1,968 | +4.6% |
| Other amounts receivable | 41 | €1,089 | €4,207 | +€3,119 | +286.5% |
| Current investments | 50/53 | €75,000 | €75,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €82,252 | €91,527 | +€9,275 | +11.3% |
| Deferred charges and accrued income | 490/1 | €1,931 | €1,618 | -€314 | -16.2% |
| Total equity and liabilities | 10/49 | €458,262 | €504,106 | +€45,844 | +10.0% |
| Equity | 10/15 | €212,512 | €259,711 | +€47,198 | +22.2% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €212,312 | €259,511 | +€47,198 | +22.2% |
| Distributable reserves | 133 | €212,312 | €259,511 | +€47,198 | +22.2% |
| Amounts payable | 17/49 | €245,750 | €244,395 | -€1,355 | -0.6% |
| Amounts payable after more than one year | 17 | €205,597 | €196,926 | -€8,670 | -4.2% |
| Financial debts | 170/4 | €205,597 | €196,926 | -€8,670 | -4.2% |
| Amounts payable within one year | 42/48 | €40,153 | €47,469 | +€7,316 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €8,541 | €8,670 | +€129 | +1.5% |
| Financial debts | 43 | €635 | €806 | +€171 | +27.0% |
| Credit institutions | 430/8 | €635 | €806 | +€171 | +27.0% |
| Trade debts | 44 | €12,136 | €10,164 | -€1,972 | -16.2% |
| Suppliers | 440/4 | €12,136 | €10,164 | -€1,972 | -16.2% |
| Taxes, remuneration and social security | 45 | €5,160 | €3,929 | -€1,231 | -23.9% |
| Taxes | 450/3 | €3,403 | €3,475 | +€72 | +2.1% |
| Remuneration and social security | 454/9 | €1,757 | €455 | -€1,302 | -74.1% |
| Other amounts payable | 47/48 | €13,681 | €23,898 | +€10,218 | +74.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,176 | €16,260 | +€5,083 | +45.5% |
| Other operating charges | 640/8 | €2,736 | €908 | -€1,828 | -66.8% |
| Gross operating margin | 9900 | €95,029 | €85,703 | -€9,326 | -9.8% |
| Operating profit (loss) | 9901 | €81,116 | €68,535 | -€12,581 | -15.5% |
| Financial income | 75/76B | €4,028 | €121 | -€3,906 | -97.0% |
| Recurring financial income | 75 | €4,028 | €121 | -€3,906 | -97.0% |
| Financial charges | 65/66B | €7,362 | €4,814 | -€2,548 | -34.6% |
| Recurring financial charges | 65 | €7,362 | €4,814 | -€2,548 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €77,782 | €63,843 | -€13,940 | -17.9% |
| Income taxes | 67/77 | €25,349 | €16,644 | -€8,704 | -34.3% |
| Profit (loss) for the period | 9904 | €52,433 | €47,198 | -€5,235 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,433 | €47,198 | -€5,235 | -10.0% |
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 8 October 2026 via checked.be.