MIKADO: 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.
MIKADO
Largest movements
- Current investments -€35,371
down €35,371 (-22.8%), from €155,371 to €120,000
- Cash -€6,351
down €6,351 (-33.8%), from €18,782 to €12,431
mainly Other debts (-€37,775) and Investment in fixed assets (net) (-€18,589)
- Tangible fixed assets +€4,845
up €4,845 (+10.4%), from €46,691 to €51,536
of which Furniture and vehicles: +€4,970
- Receivables within one year +€2,830
up €2,830 (+36.6%), from €7,727 to €10,556
of which Trade receivables: +€3,308
- Other debts -€37,775
down €37,775 (-55.2%), from €68,398 to €30,623
- Tax, wage and social debts +€3,343
up €3,343 (+138.7%), from €2,409 to €5,752
- Depreciation +€5,653
up €5,653 (+69.9%), from €8,092 to €13,745
- Financial income +€5,036
up €5,036 (+453650.5%), from €1 to €5,037
- Other operating charges -€4,125
down €4,125 (-53.7%), from €7,688 to €3,563
- Gross operating margin -€3,692
down €3,692 (-17.3%), from €21,398 to €17,706
- Taxes +€2,820
up €2,820 (+351.7%), from €802 to €3,622
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 | €230,705 | €196,631 | -€34,074 | -14.8% |
| Fixed assets | 21/28 | €46,691 | €51,536 | +€4,845 | +10.4% |
| Tangible fixed assets | 22/27 | €46,691 | €51,536 | +€4,845 | +10.4% |
| Plant, machinery and equipment | 23 | €376 | €251 | -€125 | -33.3% |
| Furniture and vehicles | 24 | €46,316 | €51,285 | +€4,970 | +10.7% |
| Current assets | 29/58 | €184,013 | €145,095 | -€38,918 | -21.1% |
| Amounts receivable within one year | 40/41 | €7,727 | €10,556 | +€2,830 | +36.6% |
| Trade receivables | 40 | €74 | €3,382 | +€3,308 | +4457.5% |
| Other amounts receivable | 41 | €7,653 | €7,175 | -€478 | -6.2% |
| Current investments | 50/53 | €155,371 | €120,000 | -€35,371 | -22.8% |
| Cash at bank and in hand | 54/58 | €18,782 | €12,431 | -€6,351 | -33.8% |
| Deferred charges and accrued income | 490/1 | €2,134 | €2,107 | -€26 | -1.2% |
| Total equity and liabilities | 10/49 | €230,705 | €196,631 | -€34,074 | -14.8% |
| Equity | 10/15 | €153,317 | €154,822 | +€1,505 | +1.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €21,860 | €21,860 | = | 0.0% |
| Distributable reserves | 133 | €21,860 | €21,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,865 | €114,370 | +€1,505 | +1.3% |
| Amounts payable | 17/49 | €77,388 | €41,809 | -€35,579 | -46.0% |
| Amounts payable within one year | 42/48 | €77,388 | €41,809 | -€35,579 | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €2,959 | €1,696 | -€1,263 | -42.7% |
| Trade debts | 44 | €3,621 | €3,737 | +€116 | +3.2% |
| Suppliers | 440/4 | €3,621 | €3,737 | +€116 | +3.2% |
| Taxes, remuneration and social security | 45 | €2,409 | €5,752 | +€3,343 | +138.7% |
| Taxes | 450/3 | €2,409 | €5,752 | +€3,343 | +138.7% |
| Other amounts payable | 47/48 | €68,398 | €30,623 | -€37,775 | -55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,092 | €13,745 | +€5,653 | +69.9% |
| Other operating charges | 640/8 | €7,688 | €3,563 | -€4,125 | -53.7% |
| Gross operating margin | 9900 | €21,398 | €17,706 | -€3,692 | -17.3% |
| Operating profit (loss) | 9901 | €5,618 | €398 | -€5,220 | -92.9% |
| Financial income | 75/76B | €1 | €5,037 | +€5,036 | +453650.5% |
| Recurring financial income | 75 | €1 | €5,037 | +€5,036 | +453650.5% |
| Financial charges | 65/66B | €212 | €308 | +€96 | +45.3% |
| Recurring financial charges | 65 | €212 | €308 | +€96 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €5,407 | €5,127 | -€280 | -5.2% |
| Income taxes | 67/77 | €802 | €3,622 | +€2,820 | +351.7% |
| Profit (loss) for the period | 9904 | €4,606 | €1,505 | -€3,100 | -67.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,606 | €1,505 | -€3,100 | -67.3% |
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 5 October 2026 via checked.be.