BODEN-MILBOU: what changed
BODEN-MILBOU
Largest movements
- Tangible fixed assets +€13,497
up €13,497 (+11.1%), from €121,535 to €135,032
of which Furniture and vehicles: +€26,840
- Cash +€13,354
up €13,354 (+32.6%), from €40,972 to €54,326
mainly Net result for the year (+€85,380) and Depreciation (+€18,210)
- Reserves +€85,380
up €85,380 (+15.9%), from €537,418 to €622,799
- Other debts -€57,994
down €57,994 (-99.1%), from €58,508 to €514
- Gross operating margin +€15,812
up €15,812 (+12.9%), from €122,353 to €138,164
- Financial charges +€10,167
up €10,167 (+78.9%), from -€12,892 to -€2,725
- Depreciation +€5,170
up €5,170 (+39.6%), from €13,041 to €18,210
- Taxes +€2,635
up €2,635 (+6.9%), from €38,052 to €40,687
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 | €609,748 | €635,808 | +€26,060 | +4.3% |
| Fixed assets | 21/28 | €121,537 | €135,034 | +€13,497 | +11.1% |
| Tangible fixed assets | 22/27 | €121,535 | €135,032 | +€13,497 | +11.1% |
| Land and buildings | 22 | €121,535 | €108,192 | -€13,343 | -11.0% |
| Furniture and vehicles | 24 | - | €26,840 | +€26,840 | |
| Financial fixed assets | 28 | €2 | €2 | = | 0.0% |
| Current assets | 29/58 | €488,211 | €500,774 | +€12,563 | +2.6% |
| Current investments | 50/53 | €441,772 | €445,044 | +€3,272 | +0.7% |
| Cash at bank and in hand | 54/58 | €40,972 | €54,326 | +€13,354 | +32.6% |
| Deferred charges and accrued income | 490/1 | €5,467 | €1,405 | -€4,062 | -74.3% |
| Total equity and liabilities | 10/49 | €609,748 | €635,808 | +€26,060 | +4.3% |
| Equity | 10/15 | €537,418 | €622,799 | +€85,380 | +15.9% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €537,418 | €622,799 | +€85,380 | +15.9% |
| Distributable reserves | 133 | €537,418 | €622,799 | +€85,380 | +15.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €72,329 | €13,010 | -€59,320 | -82.0% |
| Amounts payable within one year | 42/48 | €68,628 | €10,086 | -€58,542 | -85.3% |
| Trade debts | 44 | €1,955 | €2,521 | +€565 | +28.9% |
| Suppliers | 440/4 | €1,955 | €2,521 | +€565 | +28.9% |
| Taxes, remuneration and social security | 45 | €8,164 | €7,051 | -€1,113 | -13.6% |
| Taxes | 450/3 | €8,164 | €7,051 | -€1,113 | -13.6% |
| Other amounts payable | 47/48 | €58,508 | €514 | -€57,994 | -99.1% |
| Accrued charges and deferred income | 492/3 | €3,701 | €2,924 | -€777 | -21.0% |
| Non-recurring operating income | 76A | €3,150 | €6,792 | +€3,642 | +116% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,041 | €18,210 | +€5,170 | +39.6% |
| Other operating charges | 640/8 | €2,668 | €2,090 | -€579 | -21.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €122,353 | €138,164 | +€15,812 | +12.9% |
| Operating profit (loss) | 9901 | €106,643 | €117,864 | +€11,221 | +10.5% |
| Financial income | 75/76B | €6,293 | €5,478 | -€815 | -13.0% |
| Recurring financial income | 75 | €6,293 | €5,478 | -€815 | -13.0% |
| Financial charges | 65/66B | -€12,892 | -€2,725 | +€10,167 | +78.9% |
| Recurring financial charges | 65 | -€12,892 | -€2,725 | +€10,167 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | €125,829 | €126,067 | +€239 | +0.2% |
| Income taxes | 67/77 | €38,052 | €40,687 | +€2,635 | +6.9% |
| Profit (loss) for the period | 9904 | €87,776 | €85,380 | -€2,396 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €87,776 | €85,380 | -€2,396 | -2.7% |
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.