MIKDAN: 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.
MIKDAN
Largest movements
- Receivables within one year +€54,519
up €54,519 (+272.2%), from €20,031 to €74,550
- Tangible fixed assets +€53,837
up €53,837 (+364.6%), from €14,766 to €68,603
of which Furniture and vehicles: +€54,846
- Cash +€16,647
up €16,647 (+185.5%), from €8,975 to €25,622
mainly Debts after one year (+€56,965) and Net result for the year (+€53,021)
- Deferred charges and accrued income +€2,234
up €2,234 (+135.8%), from €1,645 to €3,879
- Debts after one year +€56,965
new in 2025: €56,965
- Profit (loss) carried forward +€23,021
up €23,021 (+70.9%), from €32,456 to €55,477
- Reserves +€20,000
new in 2025: €20,000
- Tax, wage and social debts +€12,350
up €12,350 (+126.3%), from €9,777 to €22,127
of which Taxes: +€15,992
- Other debts +€10,000
new in 2025: €10,000
- Gross operating margin +€68,630
up €68,630 (+273.9%), from €25,056 to €93,685
- Taxes +€14,015
up €14,015 (+387.5%), from €3,617 to €17,632
- Depreciation +€11,539
up €11,539 (+163.8%), from €7,046 to €18,585
- Financial charges +€4,077
up €4,077 (+558.2%), from €730 to €4,807
- Financial income +€1,836
up €1,836 (+4801.2%), from €38 to €1,875
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 | €45,418 | €172,655 | +€127,237 | +280.1% |
| Fixed assets | 21/28 | €14,766 | €68,603 | +€53,837 | +364.6% |
| Tangible fixed assets | 22/27 | €14,766 | €68,603 | +€53,837 | +364.6% |
| Plant, machinery and equipment | 23 | €3,826 | €2,817 | -€1,009 | -26.4% |
| Furniture and vehicles | 24 | €10,940 | €65,786 | +€54,846 | +501.3% |
| Current assets | 29/58 | €30,651 | €104,051 | +€73,400 | +239.5% |
| Amounts receivable within one year | 40/41 | €20,031 | €74,550 | +€54,519 | +272.2% |
| Other amounts receivable | 41 | €20,031 | €74,550 | +€54,519 | +272.2% |
| Cash at bank and in hand | 54/58 | €8,975 | €25,622 | +€16,647 | +185.5% |
| Deferred charges and accrued income | 490/1 | €1,645 | €3,879 | +€2,234 | +135.8% |
| Total equity and liabilities | 10/49 | €45,418 | €172,655 | +€127,237 | +280.1% |
| Equity | 10/15 | €35,456 | €78,477 | +€43,021 | +121.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Other | 1109/19 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €20,000 | +€20,000 | |
| Distributable reserves | 133 | - | €20,000 | +€20,000 | |
| Profit (loss) carried forward | 14 | €32,456 | €55,477 | +€23,021 | +70.9% |
| Amounts payable | 17/49 | €9,961 | €94,178 | +€84,216 | +845.4% |
| Amounts payable after more than one year | 17 | - | €56,965 | +€56,965 | |
| Financial debts | 170/4 | - | €56,965 | +€56,965 | |
| Amounts payable within one year | 42/48 | €9,961 | €37,212 | +€27,251 | +273.6% |
| Trade debts | 44 | €184 | €5,085 | +€4,901 | +2663.5% |
| Suppliers | 440/4 | €184 | €5,085 | +€4,901 | +2663.5% |
| Taxes, remuneration and social security | 45 | €9,777 | €22,127 | +€12,350 | +126.3% |
| Taxes | 450/3 | €6,135 | €22,127 | +€15,992 | +260.7% |
| Remuneration and social security | 454/9 | €3,642 | - | -€3,642 | |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,046 | €18,585 | +€11,539 | +163.8% |
| Other operating charges | 640/8 | €785 | €1,515 | +€729 | +92.9% |
| Gross operating margin | 9900 | €25,056 | €93,685 | +€68,630 | +273.9% |
| Operating profit (loss) | 9901 | €17,224 | €73,585 | +€56,361 | +327.2% |
| Financial income | 75/76B | €38 | €1,875 | +€1,836 | +4801.2% |
| Recurring financial income | 75 | €38 | €1,875 | +€1,836 | +4801.2% |
| Financial charges | 65/66B | €730 | €4,807 | +€4,077 | +558.2% |
| Recurring financial charges | 65 | €730 | €4,807 | +€4,077 | +558.2% |
| Profit (loss) for the period before taxes | 9903 | €16,532 | €70,652 | +€54,120 | +327.4% |
| Income taxes | 67/77 | €3,617 | €17,632 | +€14,015 | +387.5% |
| Profit (loss) for the period | 9904 | €12,915 | €53,021 | +€40,105 | +310.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,915 | €53,021 | +€40,105 | +310.5% |
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 11 October 2026 via checked.be.