A security element for manufacturing value documents, such as banknotes, checks or the like, has an upper side making available several micro images, in particular for a lens magnification arrangement. Each micro image is formed by a micro cavity structure having a multitude of micro cavities disposed side by side, the micro cavities have an extension of 0.5 to 3 μm respectively in a spatial direction disposed parallel to the upper side. The micro cavity structure is optically reflective or highly refractive on its surface, so that on the surface at least partial reflection takes place, and for each micro image micro cavities of at least a first and a second type are present, which differ by an aspect ratio of the micro cavities, whereby each micro image is structured by the at least two different types of micro cavities.