MICETT: 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.
MICETT
Largest movements
- Tangible fixed assets -€73,015
down €73,015 (-11.6%), from €627,950 to €554,934
of which Plant, machinery and equipment: -€41,560
- Receivables within one year +€43,780
up €43,780 (+72.6%), from €60,303 to €104,083
of which Other amounts receivable: +€44,697
- Formation expenses -€7,949
down €7,949 (-41.4%), from €19,189 to €11,240
- Other debts +€88,228
up €88,228 (+61.5%), from €143,531 to €231,759
- Debts after one year -€83,285
down €83,285 (-29.7%), from €280,195 to €196,910
- Tax, wage and social debts -€25,058
down €25,058 (-45.9%), from €54,587 to €29,529
of which Remuneration and social security: -€25,737
- Trade debts -€17,968
down €17,968 (-19.6%), from €91,902 to €73,934
- Gross operating margin -€108,082
down €108,082 (-15.3%), from €708,621 to €600,539
- Staff costs -€55,907
down €55,907 (-12.4%), from €449,979 to €394,071
- Taxes -€11,594
down €11,594 (-29.2%), from €39,705 to €28,111
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 | €747,183 | €714,766 | -€32,417 | -4.3% |
| Formation expenses | 20 | €19,189 | €11,240 | -€7,949 | -41.4% |
| Fixed assets | 21/28 | €627,950 | €554,934 | -€73,015 | -11.6% |
| Tangible fixed assets | 22/27 | €627,950 | €554,934 | -€73,015 | -11.6% |
| Plant, machinery and equipment | 23 | €184,892 | €143,332 | -€41,560 | -22.5% |
| Other tangible fixed assets | 26 | €443,058 | €411,602 | -€31,456 | -7.1% |
| Current assets | 29/58 | €100,044 | €148,591 | +€48,547 | +48.5% |
| Stocks and contracts in progress | 3 | €13,534 | €15,442 | +€1,908 | +14.1% |
| Stocks | 30/36 | €13,534 | €15,442 | +€1,908 | +14.1% |
| Amounts receivable within one year | 40/41 | €60,303 | €104,083 | +€43,780 | +72.6% |
| Trade receivables | 40 | €31,268 | €30,352 | -€916 | -2.9% |
| Other amounts receivable | 41 | €29,034 | €73,731 | +€44,697 | +153.9% |
| Cash at bank and in hand | 54/58 | €8,739 | €11,981 | +€3,243 | +37.1% |
| Deferred charges and accrued income | 490/1 | €17,469 | €17,085 | -€384 | -2.2% |
| Total equity and liabilities | 10/49 | €747,183 | €714,766 | -€32,417 | -4.3% |
| Equity | 10/15 | €94,280 | €98,388 | +€4,108 | +4.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,630 | €30,738 | +€4,108 | +15.4% |
| Amounts payable | 17/49 | €652,903 | €616,378 | -€36,525 | -5.6% |
| Amounts payable after more than one year | 17 | €280,195 | €196,910 | -€83,285 | -29.7% |
| Financial debts | 170/4 | €280,195 | €196,910 | -€83,285 | -29.7% |
| Amounts payable within one year | 42/48 | €372,649 | €418,506 | +€45,858 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €82,629 | €83,285 | +€656 | +0.8% |
| Trade debts | 44 | €91,902 | €73,934 | -€17,968 | -19.6% |
| Suppliers | 440/4 | €91,902 | €73,934 | -€17,968 | -19.6% |
| Taxes, remuneration and social security | 45 | €54,587 | €29,529 | -€25,058 | -45.9% |
| Taxes | 450/3 | €5,145 | €5,824 | +€679 | +13.2% |
| Remuneration and social security | 454/9 | €49,442 | €23,705 | -€25,737 | -52.1% |
| Other amounts payable | 47/48 | €143,531 | €231,759 | +€88,228 | +61.5% |
| Accrued charges and deferred income | 492/3 | €59 | €961 | +€902 | +1519.4% |
| Non-recurring operating income | 76A | €11,293 | €474 | -€10,819 | -95.8% |
| Remuneration, social security and pensions | 62 | €449,979 | €394,071 | -€55,907 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,128 | €83,518 | +€1,390 | +1.7% |
| Other operating charges | 640/8 | €2,553 | €2,664 | +€111 | +4.3% |
| Non-recurring operating charges | 66A | €29,226 | €8,774 | -€20,451 | -70.0% |
| Gross operating margin | 9900 | €708,621 | €600,539 | -€108,082 | -15.3% |
| Operating profit (loss) | 9901 | €144,736 | €111,512 | -€33,223 | -23.0% |
| Financial income | 75/76B | €185 | €28 | -€157 | -85.1% |
| Recurring financial income | 75 | €185 | €28 | -€157 | -85.1% |
| Financial charges | 65/66B | €3,969 | €4,320 | +€351 | +8.8% |
| Recurring financial charges | 65 | €3,969 | €4,320 | +€351 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €140,951 | €107,219 | -€33,732 | -23.9% |
| Income taxes | 67/77 | €39,705 | €28,111 | -€11,594 | -29.2% |
| Profit (loss) for the period | 9904 | €101,246 | €79,108 | -€22,138 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €101,246 | €79,108 | -€22,138 | -21.9% |
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 2 October 2026 via checked.be.