MIKAY: 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.
MIKAY
Largest movements
- Cash -€61,385
down €61,385 (-70.3%), from €87,342 to €25,957
mainly Trade debts (-€37,384) and Debts after one year (-€36,000)
- Receivables within one year -€35,464
down €35,464 (-38.2%), from €92,907 to €57,442
of which Trade receivables: -€37,091
- Stocks and contracts +€27,101
up €27,101 (+164%), from €16,565 to €43,666
- Deferred charges and accrued income +€2,401
up €2,401 (+562%), from €427 to €2,828
- Trade debts -€37,384
down €37,384 (-86.9%), from €43,010 to €5,626
- Debts after one year -€36,000
down €36,000 (-100%), from €36,000 to €0
- Other debts +€5,221
up €5,221 (+73.0%), from €7,155 to €12,375
- Gross operating margin -€21,440
down €21,440 (-55.5%), from €38,603 to €17,164
- Financial charges -€8,114
down €8,114 (-78.0%), from €10,407 to €2,293
- Write-downs +€7,240
up €7,240 (+1,111%), from €652 to €7,892
- Taxes -€3,958
down €3,958 (-78.6%), from €5,036 to €1,078
- Financial income +€2,606
up €2,606 (+178%), from €1,464 to €4,069
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 | €208,920 | €139,877 | -€69,042 | -33.0% |
| Fixed assets | 21/28 | €11,679 | €9,984 | -€1,695 | -14.5% |
| Tangible fixed assets | 22/27 | €11,679 | €9,984 | -€1,695 | -14.5% |
| Land and buildings | 22 | €11,679 | €9,984 | -€1,695 | -14.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €197,241 | €129,894 | -€67,347 | -34.1% |
| Stocks and contracts in progress | 3 | €16,565 | €43,666 | +€27,101 | +164% |
| Stocks | 30/36 | €16,565 | €43,666 | +€27,101 | +164% |
| Amounts receivable within one year | 40/41 | €92,907 | €57,442 | -€35,464 | -38.2% |
| Trade receivables | 40 | €92,663 | €55,573 | -€37,091 | -40.0% |
| Other amounts receivable | 41 | €244 | €1,870 | +€1,626 | +667% |
| Cash at bank and in hand | 54/58 | €87,342 | €25,957 | -€61,385 | -70.3% |
| Deferred charges and accrued income | 490/1 | €427 | €2,828 | +€2,401 | +562% |
| Total equity and liabilities | 10/49 | €208,920 | €139,877 | -€69,042 | -33.0% |
| Equity | 10/15 | €113,091 | €114,001 | +€911 | +0.8% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Reserves | 13 | €66,314 | €66,314 | = | 0.0% |
| Tax-exempt reserves | 132 | €314 | €314 | = | 0.0% |
| Distributable reserves | 133 | €66,000 | €66,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,720 | €39,631 | +€911 | +2.4% |
| Amounts payable | 17/49 | €95,829 | €25,876 | -€69,953 | -73.0% |
| Amounts payable after more than one year | 17 | €36,000 | €0 | -€36,000 | -100% |
| Other amounts payable | 178/9 | €36,000 | €0 | -€36,000 | -100% |
| Amounts payable within one year | 42/48 | €56,941 | €24,123 | -€32,819 | -57.6% |
| Trade debts | 44 | €43,010 | €5,626 | -€37,384 | -86.9% |
| Suppliers | 440/4 | €43,010 | €5,626 | -€37,384 | -86.9% |
| Taxes, remuneration and social security | 45 | €6,776 | €6,121 | -€655 | -9.7% |
| Taxes | 450/3 | €6,776 | €6,121 | -€655 | -9.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,155 | €12,375 | +€5,221 | +73.0% |
| Accrued charges and deferred income | 492/3 | €2,887 | €1,754 | -€1,134 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,105 | €1,695 | -€410 | -19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €652 | €7,892 | +€7,240 | +1,111% |
| Other operating charges | 640/8 | €1,557 | €4,065 | +€2,508 | +161% |
| Non-recurring operating charges | 66A | €1,715 | €3,300 | +€1,585 | +92.4% |
| Gross operating margin | 9900 | €38,603 | €17,164 | -€21,440 | -55.5% |
| Operating profit (loss) | 9901 | €32,575 | €212 | -€32,362 | -99.3% |
| Financial income | 75/76B | €1,464 | €4,069 | +€2,606 | +178% |
| Recurring financial income | 75 | €1,464 | €4,069 | +€2,606 | +178% |
| Financial charges | 65/66B | €10,407 | €2,293 | -€8,114 | -78.0% |
| Recurring financial charges | 65 | €10,407 | €2,293 | -€8,114 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | €23,631 | €1,989 | -€21,643 | -91.6% |
| Income taxes | 67/77 | €5,036 | €1,078 | -€3,958 | -78.6% |
| Profit (loss) for the period | 9904 | €18,595 | €911 | -€17,685 | -95.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,595 | €911 | -€17,685 | -95.1% |
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.