MICOVERO STYLE: 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.
MICOVERO STYLE
Largest movements
- Cash -€16,246
down €16,246 (-30.3%), from €53,541 to €37,296
mainly Stocks and contracts (-€8,056) and Receivables within one year (-€6,706)
- Stocks and contracts +€8,056
up €8,056 (+20.5%), from €39,332 to €47,388
- Receivables within one year +€6,706
up €6,706 (+121%), from €5,530 to €12,236
of which Other amounts receivable: +€4,718
- Tangible fixed assets -€4,876
down €4,876 (-18.0%), from €27,093 to €22,217
of which Other tangible fixed assets: -€3,913
- Reserves -€4,377
down €4,377 (-6.1%), from €72,199 to €67,823
of which Distributable reserves: -€4,377
- Current portion of long-term debt -€3,057
no longer reported in 2025 (was €3,057)
- Trade debts +€2,175
up €2,175 (+37.7%), from €5,766 to €7,940
- Gross operating margin -€7,395
down €7,395 (-7.2%), from €102,877 to €95,482
- Staff costs +€2,819
up €2,819 (+3.1%), from €90,889 to €93,708
- Taxes -€1,800
no longer reported in 2025 (was €1,800)
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 | €125,906 | €119,865 | -€6,040 | -4.8% |
| Fixed assets | 21/28 | €27,431 | €22,555 | -€4,876 | -17.8% |
| Tangible fixed assets | 22/27 | €27,093 | €22,217 | -€4,876 | -18.0% |
| Plant, machinery and equipment | 23 | €5,403 | €4,551 | -€852 | -15.8% |
| Furniture and vehicles | 24 | €554 | €443 | -€111 | -20.1% |
| Other tangible fixed assets | 26 | €21,137 | €17,223 | -€3,913 | -18.5% |
| Financial fixed assets | 28 | €338 | €338 | = | 0.0% |
| Current assets | 29/58 | €98,474 | €97,310 | -€1,164 | -1.2% |
| Stocks and contracts in progress | 3 | €39,332 | €47,388 | +€8,056 | +20.5% |
| Stocks | 30/36 | €39,332 | €47,388 | +€8,056 | +20.5% |
| Amounts receivable within one year | 40/41 | €5,530 | €12,236 | +€6,706 | +121% |
| Trade receivables | 40 | €2,774 | €4,762 | +€1,989 | +71.7% |
| Other amounts receivable | 41 | €2,756 | €7,474 | +€4,718 | +171% |
| Cash at bank and in hand | 54/58 | €53,541 | €37,296 | -€16,246 | -30.3% |
| Deferred charges and accrued income | 490/1 | €71 | €390 | +€319 | +451% |
| Total equity and liabilities | 10/49 | €125,906 | €119,865 | -€6,040 | -4.8% |
| Equity | 10/15 | €90,749 | €86,373 | -€4,377 | -4.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €72,199 | €67,823 | -€4,377 | -6.1% |
| Tax-exempt reserves | 132 | €4,530 | €4,530 | = | 0.0% |
| Distributable reserves | 133 | €67,669 | €63,293 | -€4,377 | -6.5% |
| Amounts payable | 17/49 | €35,156 | €33,493 | -€1,664 | -4.7% |
| Amounts payable within one year | 42/48 | €34,506 | €32,843 | -€1,664 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €3,057 | - | -€3,057 | |
| Trade debts | 44 | €5,766 | €7,940 | +€2,175 | +37.7% |
| Suppliers | 440/4 | €5,766 | €7,940 | +€2,175 | +37.7% |
| Taxes, remuneration and social security | 45 | €24,377 | €23,936 | -€441 | -1.8% |
| Taxes | 450/3 | €12,437 | €10,198 | -€2,239 | -18.0% |
| Remuneration and social security | 454/9 | €11,940 | €13,737 | +€1,798 | +15.1% |
| Other amounts payable | 47/48 | €1,307 | €967 | -€340 | -26.0% |
| Accrued charges and deferred income | 492/3 | €650 | €650 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €90,889 | €93,708 | +€2,819 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,309 | €4,876 | -€433 | -8.2% |
| Other operating charges | 640/8 | €1,039 | €1,069 | +€30 | +2.9% |
| Gross operating margin | 9900 | €102,877 | €95,482 | -€7,395 | -7.2% |
| Operating profit (loss) | 9901 | €5,640 | -€4,171 | -€9,811 | |
| Financial income | 75/76B | €0 | €20 | +€20 | +16,258% |
| Recurring financial income | 75 | €0 | €20 | +€20 | +16,258% |
| Financial charges | 65/66B | €289 | €226 | -€64 | -22.0% |
| Recurring financial charges | 65 | €289 | €226 | -€64 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €5,351 | -€4,377 | -€9,728 | |
| Income taxes | 67/77 | €1,800 | - | -€1,800 | |
| Profit (loss) for the period | 9904 | €3,552 | -€4,377 | -€7,928 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,552 | -€4,377 | -€7,928 |
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 25 October 2026 via checked.be.