MIKAZUKI: 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.
MIKAZUKI
Largest movements
- Cash +€43,402
up €43,402 (+45.8%), from €94,678 to €138,080
mainly Receivables within one year (+€34,694) and Net result for the year (+€30,297)
- Receivables within one year -€34,694
down €34,694 (-62.0%), from €55,982 to €21,288
of which Other amounts receivable: -€18,522
- Tangible fixed assets -€8,202
down €8,202 (-3.2%), from €258,953 to €250,751
of which Other tangible fixed assets: -€6,789
- Provisions +€28,723
up €28,723 (+101%), from €28,308 to €57,030
- Other debts -€12,385
down €12,385 (-14.1%), from €87,848 to €75,464
- Debts after one year -€11,769
down €11,769 (-6.4%), from €184,771 to €173,002
- Tax, wage and social debts -€5,984
down €5,984 (-23.2%), from €25,785 to €19,801
- Gross operating margin +€3,576
up €3,576 (+3.5%), from €101,635 to €105,210
- Taxes +€1,071
up €1,071 (+6.9%), from €15,559 to €16,631
- Depreciation -€1,055
down €1,055 (-6.7%), from €15,713 to €14,658
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 | €409,901 | €410,253 | +€353 | +0.1% |
| Fixed assets | 21/28 | €258,953 | €250,751 | -€8,202 | -3.2% |
| Tangible fixed assets | 22/27 | €258,953 | €250,751 | -€8,202 | -3.2% |
| Land and buildings | 22 | €193,302 | €196,447 | +€3,145 | +1.6% |
| Furniture and vehicles | 24 | €7,694 | €3,136 | -€4,558 | -59.2% |
| Other tangible fixed assets | 26 | €57,957 | €51,168 | -€6,789 | -11.7% |
| Current assets | 29/58 | €150,948 | €159,503 | +€8,555 | +5.7% |
| Amounts receivable within one year | 40/41 | €55,982 | €21,288 | -€34,694 | -62.0% |
| Trade receivables | 40 | €34,091 | €17,919 | -€16,171 | -47.4% |
| Other amounts receivable | 41 | €21,891 | €3,369 | -€18,522 | -84.6% |
| Cash at bank and in hand | 54/58 | €94,678 | €138,080 | +€43,402 | +45.8% |
| Deferred charges and accrued income | 490/1 | €288 | €134 | -€154 | -53.4% |
| Total equity and liabilities | 10/49 | €409,901 | €410,253 | +€353 | +0.1% |
| Equity | 10/15 | €71,616 | €71,616 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €66,616 | €66,616 | = | 0.0% |
| Distributable reserves | 133 | €66,616 | €66,616 | = | 0.0% |
| Provisions and deferred taxes | 16 | €28,308 | €57,030 | +€28,723 | +101% |
| Provisions for liabilities and charges | 160/5 | €28,308 | €57,030 | +€28,723 | +101% |
| Other liabilities and charges | 164/5 | €28,308 | €57,030 | +€28,723 | +101% |
| Amounts payable | 17/49 | €309,977 | €281,607 | -€28,370 | -9.2% |
| Amounts payable after more than one year | 17 | €184,771 | €173,002 | -€11,769 | -6.4% |
| Financial debts | 170/4 | €184,771 | €173,002 | -€11,769 | -6.4% |
| Amounts payable within one year | 42/48 | €125,206 | €108,605 | -€16,601 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €11,317 | €11,769 | +€452 | +4.0% |
| Trade debts | 44 | €256 | €1,571 | +€1,316 | +515% |
| Suppliers | 440/4 | €256 | €1,571 | +€1,316 | +515% |
| Taxes, remuneration and social security | 45 | €25,785 | €19,801 | -€5,984 | -23.2% |
| Taxes | 450/3 | €25,785 | €19,801 | -€5,984 | -23.2% |
| Other amounts payable | 47/48 | €87,848 | €75,464 | -€12,385 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,713 | €14,658 | -€1,055 | -6.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €28,308 | €28,723 | +€415 | +1.5% |
| Other operating charges | 640/8 | €1,785 | €2,343 | +€558 | +31.2% |
| Gross operating margin | 9900 | €101,635 | €105,210 | +€3,576 | +3.5% |
| Operating profit (loss) | 9901 | €55,829 | €59,487 | +€3,658 | +6.6% |
| Financial income | 75/76B | €9 | €162 | +€153 | +1,705% |
| Recurring financial income | 75 | €9 | €162 | +€153 | +1,705% |
| Financial charges | 65/66B | €11,965 | €12,721 | +€756 | +6.3% |
| Recurring financial charges | 65 | €11,965 | €12,721 | +€756 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €43,873 | €46,928 | +€3,055 | +7.0% |
| Income taxes | 67/77 | €15,559 | €16,631 | +€1,071 | +6.9% |
| Profit (loss) for the period | 9904 | €28,314 | €30,297 | +€1,983 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,314 | €30,297 | +€1,983 | +7.0% |
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.