MICHA: 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.
MICHA
Largest movements
- Cash +€73,970
up €73,970 (+365%), from €20,247 to €94,217
mainly Net result for the year (+€37,466) and Receivables within one year (+€21,243)
- Receivables within one year -€21,243
down €21,243 (-96.1%), from €22,105 to €862
- Tangible fixed assets +€1,887
up €1,887 (+36.9%), from €5,111 to €6,998
of which Plant, machinery and equipment: +€1,491
- Reserves +€37,466
up €37,466 (+145%), from €25,918 to €63,384
- Current portion of long-term debt +€15,000
new in 2025: €15,000
- Tax, wage and social debts +€3,564
up €3,564 (+26.9%), from €13,240 to €16,804
- Other debts -€1,998
down €1,998 (-38.1%), from €5,246 to €3,248
- Gross operating margin +€19,439
up €19,439 (+54.0%), from €36,018 to €55,457
- Taxes +€5,841
up €5,841 (+62.4%), from €9,362 to €15,203
- Financial charges +€1,156
up €1,156 (+11,558,500%), from €0 to €1,156
- Depreciation +€850
up €850 (+435%), from €195 to €1,045
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 | €47,463 | €102,077 | +€54,614 | +115% |
| Fixed assets | 21/28 | €5,111 | €6,998 | +€1,887 | +36.9% |
| Tangible fixed assets | 22/27 | €5,111 | €6,998 | +€1,887 | +36.9% |
| Plant, machinery and equipment | 23 | - | €1,491 | +€1,491 | |
| Furniture and vehicles | 24 | €1,089 | €1,939 | +€850 | +78.0% |
| Other tangible fixed assets | 26 | €4,022 | €3,568 | -€453 | -11.3% |
| Current assets | 29/58 | €42,352 | €95,079 | +€52,727 | +124% |
| Amounts receivable within one year | 40/41 | €22,105 | €862 | -€21,243 | -96.1% |
| Trade receivables | 40 | €22,105 | €862 | -€21,243 | -96.1% |
| Cash at bank and in hand | 54/58 | €20,247 | €94,217 | +€73,970 | +365% |
| Total equity and liabilities | 10/49 | €47,463 | €102,077 | +€54,614 | +115% |
| Equity | 10/15 | €28,918 | €66,384 | +€37,466 | +130% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €25,918 | €63,384 | +€37,466 | +145% |
| Distributable reserves | 133 | €25,918 | €63,384 | +€37,466 | +145% |
| Amounts payable | 17/49 | €18,545 | €35,692 | +€17,148 | +92.5% |
| Amounts payable within one year | 42/48 | €18,545 | €35,692 | +€17,148 | +92.5% |
| Current portion of amounts payable after more than one year | 42 | - | €15,000 | +€15,000 | |
| Trade debts | 44 | €58 | €640 | +€582 | +996% |
| Suppliers | 440/4 | €58 | €640 | +€582 | +996% |
| Taxes, remuneration and social security | 45 | €13,240 | €16,804 | +€3,564 | +26.9% |
| Taxes | 450/3 | €13,240 | €16,804 | +€3,564 | +26.9% |
| Other amounts payable | 47/48 | €5,246 | €3,248 | -€1,998 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195 | €1,045 | +€850 | +435% |
| Other operating charges | 640/8 | €543 | €588 | +€45 | +8.3% |
| Gross operating margin | 9900 | €36,018 | €55,457 | +€19,439 | +54.0% |
| Operating profit (loss) | 9901 | €35,280 | €53,824 | +€18,544 | +52.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €0 | €1,156 | +€1,156 | +11,558,500% |
| Recurring financial charges | 65 | €0 | €1,156 | +€1,156 | +11,558,500% |
| Profit (loss) for the period before taxes | 9903 | €35,280 | €52,669 | +€17,389 | +49.3% |
| Income taxes | 67/77 | €9,362 | €15,203 | +€5,841 | +62.4% |
| Profit (loss) for the period | 9904 | €25,918 | €37,466 | +€11,548 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,918 | €37,466 | +€11,548 | +44.6% |
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 15 October 2026 via checked.be.