MICROSTART: 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.
MICROSTART
Largest movements
- Cash -€1.3m
down €1.3m (-26.6%), from €5.0m to €3.7m
mainly Net result for the year (-€1.8m) and Current portion of long-term debt (-€347,143)
- Receivables within one year -€428,637
down €428,637 (-12.4%), from €3.4m to €3.0m
of which Trade receivables: -€307,516
- Contributions -€2.1m
down €2.1m (-52.6%), from €4.0m to €1.9m
- Debts after one year +€521,197
up €521,197 (+5.8%), from €9.1m to €9.6m
of which Financial debts: +€514,122
- Current portion of long-term debt -€347,143
down €347,143 (-7.2%), from €4.8m to €4.5m
- Profit (loss) carried forward +€244,015
up €244,015 (+11.7%), from -€2.1m to -€1.8m
- Write-downs +€618,653
up €618,653, from -€375,422 to €243,231
- Gross operating margin -€355,957
down €355,957 (-16.1%), from €2.2m to €1.9m
- Purchases and services +€254,077
up €254,077 (+54.6%), from €465,271 to €719,348
- Other operating charges +€157,365
up €157,365 (+12.5%), from €1.3m to €1.4m
- Staff costs -€136,521
down €136,521 (-8.3%), from €1.6m to €1.5m
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 | €16,106,157 | €14,406,206 | -€1.7m | -10.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €38,370 | €23,146 | -€15,224 | -39.7% |
| Intangible fixed assets | 21 | €725 | €3,900 | +€3,175 | +437.9% |
| Tangible fixed assets | 22/27 | €33,759 | €7,800 | -€25,959 | -76.9% |
| Furniture and vehicles | 24 | €14,062 | €7,800 | -€6,262 | -44.5% |
| Other tangible fixed assets | 26 | €19,697 | - | -€19,697 | |
| Financial fixed assets | 28 | €3,886 | €11,446 | +€7,560 | +194.5% |
| Current assets | 29/58 | €16,067,787 | €14,383,060 | -€1.7m | -10.5% |
| Amounts receivable after more than one year | 29 | €7,591,114 | €7,642,869 | +€51,755 | +0.7% |
| Trade receivables | 290 | €7,546,114 | €7,220,869 | -€325,245 | -4.3% |
| Other amounts receivable | 291 | €45,000 | €422,000 | +€377,000 | +837.8% |
| Amounts receivable within one year | 40/41 | €3,449,545 | €3,020,908 | -€428,637 | -12.4% |
| Trade receivables | 40 | €3,167,780 | €2,860,264 | -€307,516 | -9.7% |
| Other amounts receivable | 41 | €281,765 | €160,644 | -€121,121 | -43.0% |
| Cash at bank and in hand | 54/58 | €4,987,186 | €3,662,095 | -€1.3m | -26.6% |
| Deferred charges and accrued income | 490/1 | €39,942 | €57,188 | +€17,246 | +43.2% |
| Total equity and liabilities | 10/49 | €16,106,157 | €14,406,206 | -€1.7m | -10.6% |
| Equity | 10/15 | €1,888,220 | €38,625 | -€1.8m | -98.0% |
| Contributions | 10/11 | €3,982,110 | €1,888,500 | -€2.1m | -52.6% |
| Profit (loss) carried forward | 14 | -€2,093,890 | -€1,849,875 | +€244,015 | +11.7% |
| Amounts payable | 17/49 | €14,217,937 | €14,367,581 | +€149,644 | +1.1% |
| Amounts payable after more than one year | 17 | €9,061,914 | €9,583,111 | +€521,197 | +5.8% |
| Financial debts | 170/4 | €8,989,164 | €9,503,286 | +€514,122 | +5.7% |
| Other amounts payable | 178/9 | €72,750 | €79,825 | +€7,075 | +9.7% |
| Amounts payable within one year | 42/48 | €5,156,023 | €4,784,470 | -€371,553 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €4,799,412 | €4,452,269 | -€347,143 | -7.2% |
| Trade debts | 44 | €144,666 | €161,679 | +€17,013 | +11.8% |
| Suppliers | 440/4 | €144,666 | €161,679 | +€17,013 | +11.8% |
| Taxes, remuneration and social security | 45 | €211,945 | €170,522 | -€41,423 | -19.5% |
| Taxes | 450/3 | €149 | - | -€149 | |
| Remuneration and social security | 454/9 | €211,796 | €170,522 | -€41,274 | -19.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Turnover | 70 | €1,284,378 | €1,308,581 | +€24,203 | +1.9% |
| Non-recurring operating income | 76A | €22,996 | - | -€22,996 | |
| Goods, raw materials, services and sundry goods | 60/61 | €465,271 | €719,348 | +€254,077 | +54.6% |
| Remuneration, social security and pensions | 62 | €1,646,919 | €1,510,398 | -€136,521 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,270 | €12,847 | -€4,423 | -25.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€375,422 | €243,231 | +€618,653 | |
| Other operating charges | 640/8 | €1,259,924 | €1,417,289 | +€157,365 | +12.5% |
| Non-recurring operating charges | 66A | €61 | €1,166 | +€1,105 | +1811.5% |
| Gross operating margin | 9900 | €2,207,492 | €1,851,535 | -€355,957 | -16.1% |
| Operating profit (loss) | 9901 | -€341,260 | -€1,333,396 | -€992,136 | -290.7% |
| Financial income | 75/76B | €9,236 | €27,828 | +€18,592 | +201.3% |
| Recurring financial income | 75 | €9,236 | €27,828 | +€18,592 | +201.3% |
| Financial charges | 65/66B | €501,021 | €544,027 | +€43,006 | +8.6% |
| Recurring financial charges | 65 | €501,021 | €544,027 | +€43,006 | +8.6% |
| Non-recurring financial charges | 66B | €0 | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€833,045 | -€1,849,595 | -€1.0m | -122.0% |
| Profit (loss) for the period | 9904 | -€833,045 | -€1,849,595 | -€1.0m | -122.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€833,045 | -€1,849,595 | -€1.0m | -122.0% |
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 11 October 2026 via checked.be.