Miccaro: 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.
Miccaro
Largest movements
- Cash +€11,058
up €11,058 (+23.5%), from €47,011 to €58,070
mainly Other debts (+€170,000) and Net result for the year (+€102,315)
- Other debts +€170,000
new in 2025: €170,000
- Reserves -€97,685
down €97,685 (-32.8%), from €297,849 to €200,163
- Debts after one year -€34,057
down €34,057 (-100%), from €34,057 to €0
- Current portion of long-term debt -€21,787
down €21,787 (-39.0%), from €55,844 to €34,057
- Financial income +€31,457
up €31,457, from €0 to €31,457
- Gross operating margin -€3,450
down €3,450 (-3.3%), from €104,854 to €101,403
- Taxes -€2,072
down €2,072 (-7.7%), from €27,000 to €24,928
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 | €412,120 | €425,911 | +€13,791 | +3.3% |
| Fixed assets | 21/28 | €364,387 | €367,011 | +€2,625 | +0.7% |
| Tangible fixed assets | 22/27 | €4,387 | €7,011 | +€2,625 | +59.8% |
| Furniture and vehicles | 24 | €4,387 | €7,011 | +€2,625 | +59.8% |
| Financial fixed assets | 28 | €360,000 | €360,000 | = | 0.0% |
| Current assets | 29/58 | €47,734 | €58,900 | +€11,166 | +23.4% |
| Amounts receivable within one year | 40/41 | - | €73 | +€73 | |
| Other amounts receivable | 41 | - | €73 | +€73 | |
| Cash at bank and in hand | 54/58 | €47,011 | €58,070 | +€11,058 | +23.5% |
| Deferred charges and accrued income | 490/1 | €723 | €757 | +€35 | +4.8% |
| Total equity and liabilities | 10/49 | €412,120 | €425,911 | +€13,791 | +3.3% |
| Equity | 10/15 | €316,449 | €218,763 | -€97,685 | -30.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €297,849 | €200,163 | -€97,685 | -32.8% |
| Distributable reserves | 133 | €297,849 | €200,163 | -€97,685 | -32.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €95,671 | €207,148 | +€111,476 | +117% |
| Amounts payable after more than one year | 17 | €34,057 | €0 | -€34,057 | -100% |
| Financial debts | 170/4 | €34,057 | €0 | -€34,057 | -100% |
| Amounts payable within one year | 42/48 | €61,615 | €207,148 | +€145,533 | +236% |
| Current portion of amounts payable after more than one year | 42 | €55,844 | €34,057 | -€21,787 | -39.0% |
| Financial debts | 43 | - | €50 | +€50 | |
| Credit institutions | 430/8 | - | €50 | +€50 | |
| Trade debts | 44 | €986 | €463 | -€523 | -53.1% |
| Suppliers | 440/4 | €986 | €463 | -€523 | -53.1% |
| Taxes, remuneration and social security | 45 | €4,785 | €2,579 | -€2,206 | -46.1% |
| Taxes | 450/3 | €4,785 | €2,579 | -€2,206 | -46.1% |
| Other amounts payable | 47/48 | - | €170,000 | +€170,000 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,740 | €3,174 | +€433 | +15.8% |
| Other operating charges | 640/8 | €1,637 | €1,425 | -€212 | -12.9% |
| Gross operating margin | 9900 | €104,854 | €101,403 | -€3,450 | -3.3% |
| Operating profit (loss) | 9901 | €100,477 | €96,805 | -€3,672 | -3.7% |
| Financial income | 75/76B | €0 | €31,457 | +€31,457 | |
| Recurring financial income | 75 | €0 | €31,457 | +€31,457 | |
| Financial charges | 65/66B | €1,699 | €1,020 | -€680 | -40.0% |
| Recurring financial charges | 65 | €1,699 | €1,020 | -€680 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €98,777 | €127,243 | +€28,465 | +28.8% |
| Income taxes | 67/77 | €27,000 | €24,928 | -€2,072 | -7.7% |
| Profit (loss) for the period | 9904 | €71,777 | €102,315 | +€30,537 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €71,777 | €102,315 | +€30,537 | +42.5% |
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 26 October 2026 via checked.be.