MIKADAV: 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.
MIKADAV
Largest movements
- Stocks and contracts -€157,280
down €157,280 (-15.3%), from €1.0m to €869,679
- Receivables within one year +€147,762
up €147,762 (+158%), from €93,764 to €241,526
of which Other amounts receivable: +€122,033
- Cash -€107,563
down €107,563 (-45.5%), from €236,335 to €128,772
mainly Trade debts (-€155,812) and Receivables within one year (-€147,762)
- Profit (loss) carried forward -€301,882
down €301,882 (-93.6%), from €322,435 to €20,554
- Reserves +€300,000
up €300,000 (+1,600%), from €18,750 to €318,750
of which Distributable reserves: +€300,000
- Trade debts -€155,812
down €155,812 (-26.9%), from €578,923 to €423,110
- Current portion of long-term debt +€67,540
up €67,540 (+25.0%), from €269,992 to €337,532
- Debts after one year -€28,752
down €28,752 (-37.0%), from €77,665 to €48,913
- Gross operating margin -€27,110
down €27,110 (-34.9%), from €77,699 to €50,589
- Taxes -€10,971
down €10,971 (-56.6%), from €19,387 to €8,416
- Financial charges -€10,673
down €10,673 (-47.6%), from €22,421 to €11,748
- Other operating charges -€7,789
down €7,789 (-40.0%), from €19,471 to €11,682
- Depreciation -€5,065
down €5,065 (-33.6%), from €15,054 to €9,989
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 | €1,422,736 | €1,302,188 | -€120,548 | -8.5% |
| Fixed assets | 21/28 | €65,677 | €62,211 | -€3,466 | -5.3% |
| Tangible fixed assets | 22/27 | €65,077 | €61,611 | -€3,466 | -5.3% |
| Land and buildings | 22 | €56,217 | €53,520 | -€2,697 | -4.8% |
| Plant, machinery and equipment | 23 | €4,785 | €4,496 | -€289 | -6.0% |
| Furniture and vehicles | 24 | €4,075 | €3,595 | -€480 | -11.8% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €1,357,059 | €1,239,977 | -€117,082 | -8.6% |
| Stocks and contracts in progress | 3 | €1,026,959 | €869,679 | -€157,280 | -15.3% |
| Stocks | 30/36 | €1,026,959 | €869,679 | -€157,280 | -15.3% |
| Amounts receivable within one year | 40/41 | €93,764 | €241,526 | +€147,762 | +158% |
| Trade receivables | 40 | €58,252 | €83,980 | +€25,729 | +44.2% |
| Other amounts receivable | 41 | €35,513 | €157,546 | +€122,033 | +344% |
| Cash at bank and in hand | 54/58 | €236,335 | €128,772 | -€107,563 | -45.5% |
| Total equity and liabilities | 10/49 | €1,422,736 | €1,302,188 | -€120,548 | -8.5% |
| Equity | 10/15 | €361,645 | €359,764 | -€1,882 | -0.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €18,750 | €318,750 | +€300,000 | +1,600% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | - | €300,000 | +€300,000 | |
| Profit (loss) carried forward | 14 | €322,435 | €20,554 | -€301,882 | -93.6% |
| Amounts payable | 17/49 | €1,061,090 | €942,424 | -€118,666 | -11.2% |
| Amounts payable after more than one year | 17 | €77,665 | €48,913 | -€28,752 | -37.0% |
| Financial debts | 170/4 | €77,665 | €48,913 | -€28,752 | -37.0% |
| Amounts payable within one year | 42/48 | €983,425 | €893,511 | -€89,914 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €269,992 | €337,532 | +€67,540 | +25.0% |
| Trade debts | 44 | €578,923 | €423,110 | -€155,812 | -26.9% |
| Suppliers | 440/4 | €578,923 | €423,110 | -€155,812 | -26.9% |
| Advances received on contracts in progress | 46 | €7,770 | - | -€7,770 | |
| Taxes, remuneration and social security | 45 | €1,700 | €22,122 | +€20,421 | +1,201% |
| Taxes | 450/3 | €354 | €21,762 | +€21,408 | +6,051% |
| Remuneration and social security | 454/9 | €1,346 | €359 | -€987 | -73.3% |
| Other amounts payable | 47/48 | €125,040 | €110,747 | -€14,293 | -11.4% |
| Remuneration, social security and pensions | 62 | €8,055 | €10,635 | +€2,580 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,054 | €9,989 | -€5,065 | -33.6% |
| Other operating charges | 640/8 | €19,471 | €11,682 | -€7,789 | -40.0% |
| Gross operating margin | 9900 | €77,699 | €50,589 | -€27,110 | -34.9% |
| Operating profit (loss) | 9901 | €35,119 | €18,282 | -€16,836 | -47.9% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €22,421 | €11,748 | -€10,673 | -47.6% |
| Recurring financial charges | 65 | €22,421 | €11,748 | -€10,673 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | €12,708 | €6,535 | -€6,174 | -48.6% |
| Income taxes | 67/77 | €19,387 | €8,416 | -€10,971 | -56.6% |
| Profit (loss) for the period | 9904 | -€6,679 | -€1,882 | +€4,797 | +71.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,679 | -€1,882 | +€4,797 | +71.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.