MICLU: 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.
MICLU
Largest movements
- Cash +€109,443
up €109,443 (+78.7%), from €139,111 to €248,554
mainly Net result for the year (+€154,164) and Tax, wage and social debts (+€20,935)
- Receivables within one year +€47,614
up €47,614 (+62.8%), from €75,764 to €123,377
- Tangible fixed assets -€12,843
down €12,843 (-64.6%), from €19,880 to €7,037
- Reserves +€116,043
up €116,043 (+21.7%), from €534,422 to €650,465
of which Distributable reserves: +€116,043
- Tax, wage and social debts +€20,935
up €20,935 (+79.4%), from €26,364 to €47,299
- Taxes +€18,774
up €18,774 (+32.8%), from €57,217 to €75,992
- Financial income +€6,900
up €6,900 (+863.2%), from €799 to €7,700
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 | €574,034 | €715,833 | +€141,799 | +24.7% |
| Fixed assets | 21/28 | €39,880 | €27,037 | -€12,843 | -32.2% |
| Tangible fixed assets | 22/27 | €19,880 | €7,037 | -€12,843 | -64.6% |
| Furniture and vehicles | 24 | €19,880 | €7,037 | -€12,843 | -64.6% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €534,154 | €688,796 | +€154,642 | +29.0% |
| Amounts receivable within one year | 40/41 | €75,764 | €123,377 | +€47,614 | +62.8% |
| Trade receivables | 40 | €75,764 | €123,377 | +€47,614 | +62.8% |
| Current investments | 50/53 | €314,846 | €311,908 | -€2,938 | -0.9% |
| Cash at bank and in hand | 54/58 | €139,111 | €248,554 | +€109,443 | +78.7% |
| Deferred charges and accrued income | 490/1 | €4,433 | €4,957 | +€523 | +11.8% |
| Total equity and liabilities | 10/49 | €574,034 | €715,833 | +€141,799 | +24.7% |
| Equity | 10/15 | €547,347 | €663,390 | +€116,043 | +21.2% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Revaluation surpluses | 12 | €3,625 | €3,625 | = | 0.0% |
| Reserves | 13 | €534,422 | €650,465 | +€116,043 | +21.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €532,562 | €648,605 | +€116,043 | +21.8% |
| Amounts payable | 17/49 | €26,686 | €52,443 | +€25,757 | +96.5% |
| Amounts payable within one year | 42/48 | €26,641 | €52,443 | +€25,802 | +96.9% |
| Trade debts | 44 | €277 | €5,145 | +€4,867 | +1757.0% |
| Suppliers | 440/4 | €277 | €5,145 | +€4,867 | +1757.0% |
| Taxes, remuneration and social security | 45 | €26,364 | €47,299 | +€20,935 | +79.4% |
| Taxes | 450/3 | €26,364 | €47,299 | +€20,935 | +79.4% |
| Accrued charges and deferred income | 492/3 | €45 | - | -€45 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,843 | €12,843 | = | 0.0% |
| Other operating charges | 640/8 | €813 | €362 | -€451 | -55.5% |
| Gross operating margin | 9900 | €233,886 | €235,814 | +€1,928 | +0.8% |
| Operating profit (loss) | 9901 | €220,231 | €222,609 | +€2,378 | +1.1% |
| Financial income | 75/76B | €799 | €7,700 | +€6,900 | +863.2% |
| Recurring financial income | 75 | €799 | €7,700 | +€6,900 | +863.2% |
| Financial charges | 65/66B | €2,104 | €153 | -€1,952 | -92.8% |
| Recurring financial charges | 65 | €2,104 | €153 | -€1,952 | -92.8% |
| Profit (loss) for the period before taxes | 9903 | €218,926 | €230,156 | +€11,230 | +5.1% |
| Income taxes | 67/77 | €57,217 | €75,992 | +€18,774 | +32.8% |
| Profit (loss) for the period | 9904 | €161,709 | €154,164 | -€7,544 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €161,709 | €154,164 | -€7,544 | -4.7% |
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 6 October 2026 via checked.be.