Micse: 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.
Micse
Largest movements
- Tangible fixed assets -€13,851
down €13,851 (-27.1%), from €51,071 to €37,220
of which Furniture and vehicles: -€15,126
- Cash -€12,210
down €12,210 (-35.5%), from €34,421 to €22,210
mainly Other debts (-€72,454) and Current portion of long-term debt (-€18,436)
- Receivables within one year -€10,698
down €10,698 (-27.8%), from €38,532 to €27,834
of which Trade receivables: -€21,787
- Profit (loss) carried forward +€84,682
up €84,682 (+37.5%), from €226,112 to €310,795
- Other debts -€72,454
down €72,454 (-82.8%), from €87,454 to €15,000
- Current portion of long-term debt -€18,436
down €18,436 (-51.0%), from €36,166 to €17,729
- Debts after one year -€17,729
down €17,729 (-85.6%), from €20,718 to €2,989
- Short-term financial debts -€12,266
down €12,266 (-54.9%), from €22,355 to €10,089
- Gross operating margin -€51,047
down €51,047 (-27.8%), from €183,382 to €132,336
- Financial income +€20,384
up €20,384, from €0 to €20,384
- Taxes -€12,963
down €12,963 (-30.9%), from €42,004 to €29,041
- Financial charges +€2,144
up €2,144 (+50.4%), from €4,258 to €6,402
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 | €430,944 | €395,205 | -€35,739 | -8.3% |
| Fixed assets | 21/28 | €356,936 | €343,085 | -€13,851 | -3.9% |
| Tangible fixed assets | 22/27 | €51,071 | €37,220 | -€13,851 | -27.1% |
| Plant, machinery and equipment | 23 | - | €952 | +€952 | |
| Furniture and vehicles | 24 | €46,450 | €31,323 | -€15,126 | -32.6% |
| Other tangible fixed assets | 26 | €4,621 | €4,945 | +€323 | +7.0% |
| Financial fixed assets | 28 | €305,866 | €305,866 | = | 0.0% |
| Current assets | 29/58 | €74,007 | €52,120 | -€21,888 | -29.6% |
| Amounts receivable within one year | 40/41 | €38,532 | €27,834 | -€10,698 | -27.8% |
| Trade receivables | 40 | €38,438 | €16,651 | -€21,787 | -56.7% |
| Other amounts receivable | 41 | €94 | €11,184 | +€11,090 | +11,798% |
| Cash at bank and in hand | 54/58 | €34,421 | €22,210 | -€12,210 | -35.5% |
| Deferred charges and accrued income | 490/1 | €1,055 | €2,075 | +€1,020 | +96.7% |
| Total equity and liabilities | 10/49 | €430,944 | €395,205 | -€35,739 | -8.3% |
| Equity | 10/15 | €246,572 | €331,255 | +€84,682 | +34.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,112 | €310,795 | +€84,682 | +37.5% |
| Amounts payable | 17/49 | €184,372 | €63,951 | -€120,421 | -65.3% |
| Amounts payable after more than one year | 17 | €20,718 | €2,989 | -€17,729 | -85.6% |
| Financial debts | 170/4 | €20,718 | €2,989 | -€17,729 | -85.6% |
| Amounts payable within one year | 42/48 | €163,653 | €58,222 | -€105,431 | -64.4% |
| Current portion of amounts payable after more than one year | 42 | €36,166 | €17,729 | -€18,436 | -51.0% |
| Financial debts | 43 | €22,355 | €10,089 | -€12,266 | -54.9% |
| Credit institutions | 430/8 | €22,355 | €10,089 | -€12,266 | -54.9% |
| Trade debts | 44 | €513 | €775 | +€262 | +51.2% |
| Suppliers | 440/4 | €513 | €775 | +€262 | +51.2% |
| Taxes, remuneration and social security | 45 | €17,167 | €14,629 | -€2,538 | -14.8% |
| Taxes | 450/3 | €17,167 | €14,629 | -€2,538 | -14.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €87,454 | €15,000 | -€72,454 | -82.8% |
| Accrued charges and deferred income | 492/3 | - | €2,740 | +€2,740 | |
| Non-recurring operating income | 76A | €21,533 | €0 | -€21,533 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,365 | €16,461 | +€96 | +0.6% |
| Other operating charges | 640/8 | €1,684 | €1,132 | -€551 | -32.8% |
| Gross operating margin | 9900 | €183,382 | €132,336 | -€51,047 | -27.8% |
| Operating profit (loss) | 9901 | €165,333 | €114,742 | -€50,591 | -30.6% |
| Financial income | 75/76B | €0 | €20,384 | +€20,384 | |
| Recurring financial income | 75 | €0 | €20,384 | +€20,384 | |
| Financial charges | 65/66B | €4,258 | €6,402 | +€2,144 | +50.4% |
| Recurring financial charges | 65 | €4,258 | €6,402 | +€2,144 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €161,075 | €128,724 | -€32,352 | -20.1% |
| Income taxes | 67/77 | €42,004 | €29,041 | -€12,963 | -30.9% |
| Profit (loss) for the period | 9904 | €119,071 | €99,682 | -€19,389 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €119,071 | €99,682 | -€19,389 | -16.3% |
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 16 October 2026 via checked.be.