MICROWARE: 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.
What changed
MICROWARE
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€180,723
2024 · €157,316+€23,407
Equity
€3.1m
2024 · €3.2m-€99,277
Cash
€308,933
2024 · €399,834-€90,901
Balance sheet total
€9.9m
2024 · €10.2m-€266,773
Largest movements
Assets
- Tangible fixed assets -€213,211
down €213,211 (-3.0%), from €7.1m to €6.9m
Equity and liabilities
- Debts after one year -€301,876
down €301,876 (-8.0%), from €3.8m to €3.5m
- Advances received +€104,551
up €104,551 (+26.9%), from €388,858 to €493,409
Income statement
- Gross operating margin +€31,910
up €31,910 (+5.5%), from €580,546 to €612,456
- Taxes +€11,187
up €11,187 (+14.1%), from €79,422 to €90,609
- Financial charges -€9,464
down €9,464 (-7.0%), from €134,964 to €125,500
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.
Result 2024
€157,316
Gross operating margin
+€31,910
Depreciation
-€0
Other operating charges
-€6,111
Financial income
-€668
Financial charges
+€9,464
Taxes
-€11,187
Result 2025
€180,723
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.
From operations
+€403,980
Investment
€0
Financing
-€494,880
Cash 2024
€399,834
From operations (derived)
+€403,980
Net result for the year
+€180,723
Depreciation
+€213,211
Stocks and contracts
-€11,200
Receivables within one year
-€27,350
Deferred charges and accrued income
+€1,212
Smaller working-capital items
-€603
Trade debts
+€1,475
Tax, wage and social debts
+€23,693
Advances received
+€104,551
Other debts
-€81,730
Financing
-€494,880
Debts after one year
-€301,876
Current portion of long-term debt
+€6,183
Short-term financial debts
+€80,813
Contributions, distributions and other
-€280,000
Cash 2025
€308,933
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,197,441 | €9,930,669 | -€266,773 | -2.6% |
| Fixed assets | 21/28 | €8,005,769 | €7,792,558 | -€213,211 | -2.7% |
| Tangible fixed assets | 22/27 | €7,143,186 | €6,929,975 | -€213,211 | -3.0% |
| Land and buildings | 22 | €7,143,186 | €6,929,975 | -€213,211 | -3.0% |
| Financial fixed assets | 28 | €862,583 | €862,583 | = | 0.0% |
| Current assets | 29/58 | €2,191,673 | €2,138,111 | -€53,562 | -2.4% |
| Amounts receivable after more than one year | 29 | €265,000 | €265,000 | = | 0.0% |
| Other amounts receivable | 291 | €265,000 | €265,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €291,303 | €302,504 | +€11,200 | +3.8% |
| Stocks | 30/36 | €291,303 | €302,504 | +€11,200 | +3.8% |
| Amounts receivable within one year | 40/41 | €1,231,960 | €1,259,310 | +€27,350 | +2.2% |
| Trade receivables | 40 | €115,287 | €61,531 | -€53,756 | -46.6% |
| Other amounts receivable | 41 | €1,116,673 | €1,197,779 | +€81,106 | +7.3% |
| Cash at bank and in hand | 54/58 | €399,834 | €308,933 | -€90,901 | -22.7% |
| Deferred charges and accrued income | 490/1 | €3,576 | €2,364 | -€1,212 | -33.9% |
| Total equity and liabilities | 10/49 | €10,197,441 | €9,930,669 | -€266,773 | -2.6% |
| Equity | 10/15 | €3,179,288 | €3,080,011 | -€99,277 | -3.1% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Revaluation surpluses | 12 | €141,967 | €141,967 | = | 0.0% |
| Reserves | 13 | €672,193 | €572,917 | -€99,277 | -14.8% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,005 | €67,856 | -€1,149 | -1.7% |
| Distributable reserves | 133 | €595,752 | €497,623 | -€98,128 | -16.5% |
| Profit (loss) carried forward | 14 | €1,565,128 | €1,565,128 | = | 0.0% |
| Provisions and deferred taxes | 16 | €21,510 | €21,127 | -€383 | -1.8% |
| Deferred taxes | 168 | €21,510 | €21,127 | -€383 | -1.8% |
| Amounts payable | 17/49 | €6,996,643 | €6,829,530 | -€167,113 | -2.4% |
| Amounts payable after more than one year | 17 | €3,796,128 | €3,494,251 | -€301,876 | -8.0% |
| Financial debts | 170/4 | €3,796,128 | €3,494,251 | -€301,876 | -8.0% |
| Amounts payable within one year | 42/48 | €3,199,545 | €3,334,529 | +€134,984 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €553,480 | €559,663 | +€6,183 | +1.1% |
| Financial debts | 43 | €27,590 | €108,403 | +€80,813 | +292.9% |
| Credit institutions | 430/8 | €27,590 | €108,403 | +€80,813 | +292.9% |
| Trade debts | 44 | €54,218 | €55,693 | +€1,475 | +2.7% |
| Suppliers | 440/4 | €54,218 | €55,693 | +€1,475 | +2.7% |
| Advances received on contracts in progress | 46 | €388,858 | €493,409 | +€104,551 | +26.9% |
| Taxes, remuneration and social security | 45 | €141,114 | €164,807 | +€23,693 | +16.8% |
| Taxes | 450/3 | €141,114 | €164,807 | +€23,693 | +16.8% |
| Other amounts payable | 47/48 | €2,034,285 | €1,952,555 | -€81,730 | -4.0% |
| Accrued charges and deferred income | 492/3 | €970 | €750 | -€221 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,211 | €213,211 | +€0 | 0.0% |
| Other operating charges | 640/8 | €50,689 | €56,800 | +€6,111 | +12.1% |
| Gross operating margin | 9900 | €580,546 | €612,456 | +€31,910 | +5.5% |
| Operating profit (loss) | 9901 | €316,646 | €342,445 | +€25,799 | +8.1% |
| Financial income | 75/76B | €54,672 | €54,004 | -€668 | -1.2% |
| Recurring financial income | 75 | €54,672 | €54,004 | -€668 | -1.2% |
| Financial charges | 65/66B | €134,964 | €125,500 | -€9,464 | -7.0% |
| Recurring financial charges | 65 | €134,964 | €125,500 | -€9,464 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €236,355 | €270,949 | +€34,594 | +14.6% |
| Transfer from deferred taxes | 780 | €383 | €383 | = | 0.0% |
| Income taxes | 67/77 | €79,422 | €90,609 | +€11,187 | +14.1% |
| Profit (loss) for the period | 9904 | €157,316 | €180,723 | +€23,407 | +14.9% |
| Transfer from tax-exempt reserves | 789 | €1,149 | €1,149 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €158,464 | €181,872 | +€23,407 | +14.8% |
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 4 October 2026 via checked.be.