MICMAX: 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.
MICMAX
Largest movements
- Tangible fixed assets -€57,495
down €57,495 (-5.8%), from €995,350 to €937,855
- Profit (loss) carried forward -€51,503
down €51,503 (-34.9%), from -€147,422 to -€198,925
- Trade debts -€29,778
down €29,778 (-99.6%), from €29,907 to €129
- Investment grants +€22,950
new in 2025: €22,950
- Current portion of long-term debt +€22,327
up €22,327 (+327.0%), from €6,829 to €29,155
- Debts after one year -€18,605
down €18,605 (-2.0%), from €934,457 to €915,852
of which Financial debts: -€29,155
- Depreciation -€58,097
down €58,097 (-50.3%), from €115,593 to €57,495
- Gross operating margin +€53,386
up €53,386, from -€9,309 to €44,077
- Financial charges +€17,206
up €17,206 (+83.2%), from €20,690 to €37,896
- Financial income +€2,550
up €2,550 (+509900.0%), from €1 to €2,550
- Other operating charges +€908
up €908 (+49.6%), from €1,830 to €2,738
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 | €1,007,810 | €955,393 | -€52,418 | -5.2% |
| Fixed assets | 21/28 | €995,350 | €937,855 | -€57,495 | -5.8% |
| Tangible fixed assets | 22/27 | €995,350 | €937,855 | -€57,495 | -5.8% |
| Land and buildings | 22 | €995,350 | €937,855 | -€57,495 | -5.8% |
| Current assets | 29/58 | €12,460 | €17,538 | +€5,078 | +40.8% |
| Amounts receivable within one year | 40/41 | - | €600 | +€600 | |
| Trade receivables | 40 | - | €600 | +€600 | |
| Cash at bank and in hand | 54/58 | €12,223 | €16,552 | +€4,328 | +35.4% |
| Deferred charges and accrued income | 490/1 | €237 | €386 | +€150 | +63.2% |
| Total equity and liabilities | 10/49 | €1,007,810 | €955,393 | -€52,418 | -5.2% |
| Equity | 10/15 | -€127,422 | -€155,975 | -€28,553 | -22.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,422 | -€198,925 | -€51,503 | -34.9% |
| Investment grants | 15 | - | €22,950 | +€22,950 | |
| Amounts payable | 17/49 | €1,135,232 | €1,111,368 | -€23,864 | -2.1% |
| Amounts payable after more than one year | 17 | €934,457 | €915,852 | -€18,605 | -2.0% |
| Financial debts | 170/4 | €933,007 | €903,852 | -€29,155 | -3.1% |
| Other amounts payable | 178/9 | €1,450 | €12,000 | +€10,550 | +727.6% |
| Amounts payable within one year | 42/48 | €198,736 | €192,941 | -€5,795 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €6,829 | €29,155 | +€22,327 | +327.0% |
| Trade debts | 44 | €29,907 | €129 | -€29,778 | -99.6% |
| Suppliers | 440/4 | €29,907 | €129 | -€29,778 | -99.6% |
| Other amounts payable | 47/48 | €162,000 | €163,657 | +€1,657 | +1.0% |
| Accrued charges and deferred income | 492/3 | €2,039 | €2,575 | +€536 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,593 | €57,495 | -€58,097 | -50.3% |
| Other operating charges | 640/8 | €1,830 | €2,738 | +€908 | +49.6% |
| Gross operating margin | 9900 | -€9,309 | €44,077 | +€53,386 | |
| Operating profit (loss) | 9901 | -€126,732 | -€16,157 | +€110,575 | +87.3% |
| Financial income | 75/76B | €1 | €2,550 | +€2,550 | +509900.0% |
| Recurring financial income | 75 | €1 | €2,550 | +€2,550 | +509900.0% |
| Financial charges | 65/66B | €20,690 | €37,896 | +€17,206 | +83.2% |
| Recurring financial charges | 65 | €20,690 | €37,896 | +€17,206 | +83.2% |
| Profit (loss) for the period before taxes | 9903 | -€147,422 | -€51,503 | +€95,919 | +65.1% |
| Profit (loss) for the period | 9904 | -€147,422 | -€51,503 | +€95,919 | +65.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€147,422 | -€51,503 | +€95,919 | +65.1% |
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 5 October 2026 via checked.be.