Michaïa: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
Michaïa
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€351,992
up €351,992 (+113%), from €311,086 to €663,078
mainly Current investments (+€400,000) and Net result for the year (+€326,973)
- Receivables within one year -€31,585
no longer reported in 2025 (was €31,585)
- Other debts -€52,546
down €52,546 (-17.5%), from €299,984 to €247,439
- Tax, wage and social debts -€30,664
down €30,664 (-29.7%), from €103,190 to €72,526
- Gross operating margin -€88,813
down €88,813 (-16.9%), from €524,655 to €435,842
- Taxes -€12,748
down €12,748 (-10.1%), from €125,751 to €113,003
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €759,537 | €679,245 | -€80,292 | -10.6% |
| Fixed assets | 21/28 | €16,865 | €16,167 | -€698 | -4.1% |
| Tangible fixed assets | 22/27 | €16,365 | €15,167 | -€1,198 | -7.3% |
| Plant, machinery and equipment | 23 | €6,420 | €3,868 | -€2,552 | -39.7% |
| Furniture and vehicles | 24 | €9,945 | €11,299 | +€1,353 | +13.6% |
| Financial fixed assets | 28 | €500 | €1,000 | +€500 | +100% |
| Current assets | 29/58 | €742,672 | €663,078 | -€79,594 | -10.7% |
| Amounts receivable within one year | 40/41 | €31,585 | - | -€31,585 | |
| Trade receivables | 40 | €31,585 | - | -€31,585 | |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €311,086 | €663,078 | +€351,992 | +113% |
| Total equity and liabilities | 10/49 | €759,537 | €679,245 | -€80,292 | -10.6% |
| Equity | 10/15 | €350,937 | €352,910 | +€1,973 | +0.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €325,000 | €325,000 | = | 0.0% |
| Distributable reserves | 133 | €325,000 | €325,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,937 | €22,910 | +€1,973 | +9.4% |
| Amounts payable | 17/49 | €408,600 | €326,335 | -€82,265 | -20.1% |
| Amounts payable within one year | 42/48 | €408,283 | €325,983 | -€82,300 | -20.2% |
| Financial debts | 43 | €1,764 | €4,520 | +€2,756 | +156% |
| Credit institutions | 430/8 | €1,764 | €4,520 | +€2,756 | +156% |
| Trade debts | 44 | €3,345 | €1,498 | -€1,846 | -55.2% |
| Suppliers | 440/4 | €3,345 | €1,498 | -€1,846 | -55.2% |
| Taxes, remuneration and social security | 45 | €103,190 | €72,526 | -€30,664 | -29.7% |
| Taxes | 450/3 | €103,190 | €72,526 | -€30,664 | -29.7% |
| Other amounts payable | 47/48 | €299,984 | €247,439 | -€52,546 | -17.5% |
| Accrued charges and deferred income | 492/3 | €317 | €352 | +€35 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,294 | €7,113 | +€1,819 | +34.4% |
| Gross operating margin | 9900 | €524,655 | €435,842 | -€88,813 | -16.9% |
| Operating profit (loss) | 9901 | €519,361 | €428,729 | -€90,632 | -17.5% |
| Financial income | 75/76B | €17,908 | €14,330 | -€3,578 | -20.0% |
| Recurring financial income | 75 | €17,908 | €14,330 | -€3,578 | -20.0% |
| Financial charges | 65/66B | €3,126 | €3,083 | -€43 | -1.4% |
| Recurring financial charges | 65 | €3,126 | €3,083 | -€43 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €534,143 | €439,976 | -€94,167 | -17.6% |
| Income taxes | 67/77 | €125,751 | €113,003 | -€12,748 | -10.1% |
| Profit (loss) for the period | 9904 | €408,392 | €326,973 | -€81,419 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €408,392 | €326,973 | -€81,419 | -19.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.