MIK: 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.
MIK
Largest movements
- Tangible fixed assets -€316,921
down €316,921 (-6.5%), from €4.9m to €4.6m
of which Land and buildings: -€268,613
- Cash -€163,566
down €163,566 (-23.4%), from €699,385 to €535,819
mainly Current portion of long-term debt (-€2.0m) and Other debts (-€362,989)
- Current portion of long-term debt -€2.0m
down €2.0m (-88.6%), from €2.2m to €250,000
- Debts after one year +€1.7m
up €1.7m (+1,062,400%), from €160 to €1.7m
of which Financial debts: +€1.7m
- Other debts -€362,989
down €362,989 (-15.4%), from €2.4m to €2.0m
- Reserves +€201,054
up €201,054 (+33.8%), from €595,506 to €796,561
of which Tax-exempt reserves: +€141,481
- Accrued charges and deferred income -€75,166
down €75,166 (-74.8%), from €100,453 to €25,287
- Financial charges -€48,466
down €48,466 (-19.7%), from €245,451 to €196,985
- Gross operating margin +€26,341
up €26,341 (+3.5%), from €762,456 to €788,797
- Depreciation -€24,184
down €24,184 (-8.4%), from €287,824 to €263,640
- Taxes -€12,534
down €12,534 (-23.4%), from €53,629 to €41,095
- Other operating charges +€11,269
up €11,269 (+40.8%), from €27,634 to €38,902
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 | €6,211,994 | €5,742,657 | -€469,337 | -7.6% |
| Fixed assets | 21/28 | €4,893,531 | €4,576,610 | -€316,921 | -6.5% |
| Tangible fixed assets | 22/27 | €4,893,531 | €4,576,610 | -€316,921 | -6.5% |
| Land and buildings | 22 | €4,704,477 | €4,435,863 | -€268,613 | -5.7% |
| Plant, machinery and equipment | 23 | €186,115 | €140,480 | -€45,636 | -24.5% |
| Furniture and vehicles | 24 | €534 | €267 | -€267 | -50.0% |
| Assets under construction and advance payments | 27 | €2,405 | €0 | -€2,405 | -100% |
| Current assets | 29/58 | €1,318,463 | €1,166,047 | -€152,416 | -11.6% |
| Amounts receivable after more than one year | 29 | €8,621 | €8,621 | = | 0.0% |
| Other amounts receivable | 291 | €8,621 | €8,621 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,822 | €14,971 | +€11,149 | +292% |
| Trade receivables | 40 | €3,822 | €14,971 | +€11,149 | +292% |
| Current investments | 50/53 | €606,636 | €606,636 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €699,385 | €535,819 | -€163,566 | -23.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €6,211,994 | €5,742,657 | -€469,337 | -7.6% |
| Equity | 10/15 | €1,445,506 | €1,646,561 | +€201,054 | +13.9% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Reserves | 13 | €595,506 | €796,561 | +€201,054 | +33.8% |
| Tax-exempt reserves | 132 | - | €141,481 | +€141,481 | |
| Distributable reserves | 133 | €595,506 | €655,079 | +€59,573 | +10.0% |
| Provisions and deferred taxes | 16 | - | €47,160 | +€47,160 | |
| Deferred taxes | 168 | - | €47,160 | +€47,160 | |
| Amounts payable | 17/49 | €4,766,488 | €4,048,936 | -€717,552 | -15.1% |
| Amounts payable after more than one year | 17 | €160 | €1,700,000 | +€1.7m | +1,062,400% |
| Financial debts | 170/4 | - | €1,700,000 | +€1.7m | |
| Other amounts payable | 178/9 | €160 | - | -€160 | |
| Amounts payable within one year | 42/48 | €4,665,875 | €2,323,649 | -€2.3m | -50.2% |
| Current portion of amounts payable after more than one year | 42 | €2,200,000 | €250,000 | -€2.0m | -88.6% |
| Trade debts | 44 | €61,491 | €5,388 | -€56,103 | -91.2% |
| Suppliers | 440/4 | €61,491 | €5,388 | -€56,103 | -91.2% |
| Taxes, remuneration and social security | 45 | €50,392 | €77,258 | +€26,866 | +53.3% |
| Taxes | 450/3 | €50,392 | €77,258 | +€26,866 | +53.3% |
| Other amounts payable | 47/48 | €2,353,992 | €1,991,003 | -€362,989 | -15.4% |
| Accrued charges and deferred income | 492/3 | €100,453 | €25,287 | -€75,166 | -74.8% |
| Non-recurring operating income | 76A | €340,905 | €198,570 | -€142,334 | -41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,824 | €263,640 | -€24,184 | -8.4% |
| Other operating charges | 640/8 | €27,634 | €38,902 | +€11,269 | +40.8% |
| Gross operating margin | 9900 | €762,456 | €788,797 | +€26,341 | +3.5% |
| Operating profit (loss) | 9901 | €446,999 | €486,255 | +€39,256 | +8.8% |
| Financial income | 75/76B | €20 | €40 | +€20 | +100% |
| Recurring financial income | 75 | €20 | €40 | +€20 | +100% |
| Financial charges | 65/66B | €245,451 | €196,985 | -€48,466 | -19.7% |
| Recurring financial charges | 65 | €245,451 | €196,985 | -€48,466 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €201,568 | €289,310 | +€87,742 | +43.5% |
| Transfer from deferred taxes | 780 | - | €2,482 | +€2,482 | |
| Transfer to deferred taxes | 680 | - | €49,643 | +€49,643 | |
| Income taxes | 67/77 | €53,629 | €41,095 | -€12,534 | -23.4% |
| Profit (loss) for the period | 9904 | €147,939 | €201,054 | +€53,115 | +35.9% |
| Transfer from tax-exempt reserves | 789 | - | €7,446 | +€7,446 | |
| Transfer to tax-exempt reserves | 689 | - | €148,928 | +€148,928 | |
| Profit (loss) for the period to be appropriated | 9905 | €147,939 | €59,573 | -€88,366 | -59.7% |
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 15 October 2026 via checked.be.