MICELEC: 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.
MICELEC
Largest movements
- Stocks and contracts +€22,568
up €22,568 (+396.5%), from €5,692 to €28,261
- Receivables within one year -€6,072
down €6,072 (-5.9%), from €103,555 to €97,483
of which Other amounts receivable: -€12,195
- Cash -€1,484
down €1,484 (-86.7%), from €1,713 to €229
mainly Stocks and contracts (-€22,568) and Tax, wage and social debts (-€8,102)
- Other debts +€25,040
up €25,040 (+1132.2%), from €2,212 to €27,251
- Tax, wage and social debts -€8,102
down €8,102 (-44.1%), from €18,379 to €10,277
of which Remuneration and social security: -€7,600
- Profit (loss) carried forward -€2,265
down €2,265 (-20.2%), from €11,208 to €8,942
- Gross operating margin -€8,376
down €8,376 (-10.7%), from €78,030 to €69,654
- Taxes -€2,606
down €2,606 (-91.3%), from €2,855 to €249
- Staff costs +€2,182
up €2,182 (+3.2%), from €67,857 to €70,039
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 | €112,422 | €127,582 | +€15,160 | +13.5% |
| Fixed assets | 21/28 | €1,065 | €641 | -€424 | -39.8% |
| Tangible fixed assets | 22/27 | €994 | €570 | -€424 | -42.6% |
| Plant, machinery and equipment | 23 | €85 | - | -€85 | |
| Furniture and vehicles | 24 | €909 | €570 | -€339 | -37.3% |
| Financial fixed assets | 28 | €71 | €71 | = | 0.0% |
| Current assets | 29/58 | €111,357 | €126,941 | +€15,584 | +14.0% |
| Stocks and contracts in progress | 3 | €5,692 | €28,261 | +€22,568 | +396.5% |
| Stocks | 30/36 | €5,692 | €28,261 | +€22,568 | +396.5% |
| Amounts receivable within one year | 40/41 | €103,555 | €97,483 | -€6,072 | -5.9% |
| Trade receivables | 40 | €82,361 | €88,484 | +€6,123 | +7.4% |
| Other amounts receivable | 41 | €21,194 | €8,999 | -€12,195 | -57.5% |
| Cash at bank and in hand | 54/58 | €1,713 | €229 | -€1,484 | -86.7% |
| Deferred charges and accrued income | 490/1 | €397 | €969 | +€572 | +144.1% |
| Total equity and liabilities | 10/49 | €112,422 | €127,582 | +€15,160 | +13.5% |
| Equity | 10/15 | €39,808 | €37,542 | -€2,265 | -5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,208 | €8,942 | -€2,265 | -20.2% |
| Amounts payable | 17/49 | €72,615 | €90,040 | +€17,425 | +24.0% |
| Amounts payable within one year | 42/48 | €72,615 | €90,040 | +€17,425 | +24.0% |
| Financial debts | 43 | €626 | €1,475 | +€848 | +135.4% |
| Credit institutions | 430/8 | €626 | €1,475 | +€848 | +135.4% |
| Trade debts | 44 | €51,398 | €51,037 | -€361 | -0.7% |
| Suppliers | 440/4 | €51,398 | €51,037 | -€361 | -0.7% |
| Taxes, remuneration and social security | 45 | €18,379 | €10,277 | -€8,102 | -44.1% |
| Taxes | 450/3 | €6,510 | €6,009 | -€502 | -7.7% |
| Remuneration and social security | 454/9 | €11,868 | €4,268 | -€7,600 | -64.0% |
| Other amounts payable | 47/48 | €2,212 | €27,251 | +€25,040 | +1132.2% |
| Remuneration, social security and pensions | 62 | €67,857 | €70,039 | +€2,182 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,118 | €424 | -€695 | -62.1% |
| Other operating charges | 640/8 | €387 | €527 | +€139 | +35.9% |
| Gross operating margin | 9900 | €78,030 | €69,654 | -€8,376 | -10.7% |
| Operating profit (loss) | 9901 | €8,668 | -€1,335 | -€10,003 | |
| Financial income | 75/76B | €92 | €22 | -€70 | -76.1% |
| Recurring financial income | 75 | €92 | €22 | -€70 | -76.1% |
| Financial charges | 65/66B | €515 | €703 | +€188 | +36.4% |
| Recurring financial charges | 65 | €515 | €703 | +€188 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €8,244 | -€2,016 | -€10,260 | |
| Income taxes | 67/77 | €2,855 | €249 | -€2,606 | -91.3% |
| Profit (loss) for the period | 9904 | €5,389 | -€2,265 | -€7,654 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,389 | -€2,265 | -€7,654 |
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 9 October 2026 via checked.be.