MIKO - INVEST: what changed
MIKO - INVEST
Largest movements
- Current investments +€2.0m
new in 2025: €2.0m
- Financial fixed assets -€1.3m
down €1.3m (-97.0%), from €1.3m to €40,902
- Receivables within one year -€1.1m
down €1.1m (-58.5%), from €1.9m to €772,094
- Cash +€579,659
up €579,659 (+583%), from €99,468 to €679,126
mainly Investment in fixed assets (net) (+€1.8m) and Receivables within one year (+€1.1m)
- Tangible fixed assets -€547,838
down €547,838 (-40.2%), from €1.4m to €814,783
of which Land and buildings: -€542,505
- Other debts -€668,514
down €668,514 (-45.0%), from €1.5m to €817,032
- Reserves +€306,691
up €306,691 (+51.6%), from €594,132 to €900,823
of which Distributable reserves: +€400,000
- Provisions -€54,265
down €54,265 (-23.8%), from €227,987 to €173,721
- Gross operating margin +€1.7m
up €1.7m (+22,902%), from €7,273 to €1.7m
- Financial charges +€1.3m
up €1.3m (+13,883%), from €9,547 to €1.3m
of which Financial charges: +€1.1m
- Taxes +€40,000
new in 2025: €40,000
- Depreciation -€18,111
down €18,111 (-33.7%), from €53,761 to €35,650
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,672,758 | €4,306,905 | -€365,852 | -7.8% |
| Fixed assets | 21/28 | €2,712,223 | €855,685 | -€1.9m | -68.5% |
| Tangible fixed assets | 22/27 | €1,362,620 | €814,783 | -€547,838 | -40.2% |
| Land and buildings | 22 | €1,357,288 | €814,783 | -€542,505 | -40.0% |
| Plant, machinery and equipment | 23 | €5,332 | - | -€5,332 | |
| Financial fixed assets | 28 | €1,349,602 | €40,902 | -€1.3m | -97.0% |
| Current assets | 29/58 | €1,960,535 | €3,451,220 | +€1.5m | +76.0% |
| Amounts receivable within one year | 40/41 | €1,860,783 | €772,094 | -€1.1m | -58.5% |
| Other amounts receivable | 41 | €1,860,783 | €772,094 | -€1.1m | -58.5% |
| Current investments | 50/53 | - | €2,000,000 | +€2.0m | |
| Cash at bank and in hand | 54/58 | €99,468 | €679,126 | +€579,659 | +583% |
| Deferred charges and accrued income | 490/1 | €284 | - | -€284 | |
| Total equity and liabilities | 10/49 | €4,672,758 | €4,306,905 | -€365,852 | -7.8% |
| Equity | 10/15 | €2,913,742 | €3,223,160 | +€309,418 | +10.6% |
| Contributions | 10/11 | €1,481,164 | €1,481,164 | = | 0.0% |
| Capital | 10 | €1,481,164 | €1,481,164 | = | 0.0% |
| Issued capital | 100 | €1,481,164 | €1,481,164 | = | 0.0% |
| Reserves | 13 | €594,132 | €900,823 | +€306,691 | +51.6% |
| Non-distributable reserves | 130/1 | €131,250 | €148,116 | +€16,866 | +12.9% |
| Legal reserve | 130 | €131,250 | €148,116 | +€16,866 | +12.9% |
| Tax-exempt reserves | 132 | €462,882 | €352,707 | -€110,175 | -23.8% |
| Distributable reserves | 133 | - | €400,000 | +€400,000 | |
| Profit (loss) carried forward | 14 | €838,445 | €841,173 | +€2,727 | +0.3% |
| Provisions and deferred taxes | 16 | €227,987 | €173,721 | -€54,265 | -23.8% |
| Deferred taxes | 168 | €227,987 | €173,721 | -€54,265 | -23.8% |
| Amounts payable | 17/49 | €1,531,029 | €910,024 | -€621,005 | -40.6% |
| Amounts payable within one year | 42/48 | €1,486,332 | €858,527 | -€627,805 | -42.2% |
| Trade debts | 44 | €787 | €1,496 | +€709 | +90.1% |
| Suppliers | 440/4 | €787 | €1,496 | +€709 | +90.1% |
| Taxes, remuneration and social security | 45 | - | €40,000 | +€40,000 | |
| Taxes | 450/3 | - | €40,000 | +€40,000 | |
| Other amounts payable | 47/48 | €1,485,546 | €817,032 | -€668,514 | -45.0% |
| Accrued charges and deferred income | 492/3 | €44,697 | €51,497 | +€6,800 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,761 | €35,650 | -€18,111 | -33.7% |
| Other operating charges | 640/8 | €8,640 | €8,552 | -€88 | -1.0% |
| Gross operating margin | 9900 | €7,273 | €1,672,845 | +€1.7m | +22,902% |
| Operating profit (loss) | 9901 | -€55,128 | €1,628,643 | +€1.7m | |
| Financial income | 75/76B | - | €1,390 | +€1,390 | |
| Recurring financial income | 75 | - | €1,390 | +€1,390 | |
| Financial charges | 65/66B | €9,547 | €1,334,881 | +€1.3m | +13,883% |
| Recurring financial charges | 65 | €290 | €1,115,662 | +€1.1m | +384,306% |
| Non-recurring financial charges | 66B | €9,256 | €219,219 | +€209,963 | +2,268% |
| Profit (loss) for the period before taxes | 9903 | -€64,675 | €295,153 | +€359,827 | |
| Transfer from deferred taxes | 780 | €12,421 | €54,265 | +€41,844 | +337% |
| Income taxes | 67/77 | - | €40,000 | +€40,000 | |
| Profit (loss) for the period | 9904 | -€52,253 | €309,418 | +€361,672 | |
| Transfer from tax-exempt reserves | 789 | €25,219 | €110,175 | +€84,956 | +337% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,034 | €419,593 | +€446,628 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.