Miele: what changed
Two fiscal 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.
What changed
Miele
NACE 46.431, Wholesale of electrical household appliances and audio-video equipment
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€2.2m
2023 · €5.1m-€2.9m
Equity
€21.4m
2023 · €19.3m+€2.2m
Cash
€35.0m
2023 · €39.0m-€4.0m
Balance sheet total
€51.9m
2023 · €59.3m-€7.4m
Largest movements
Assets
- Cash -€4.0m
down €4.0m (-10.4%), from €39.0m to €35.0m
mainly Other debts (-€10.0m) and Trade debts (-€4.3m)
- Receivables within one year -€1.6m
down €1.6m (-19.7%), from €8.3m to €6.7m
of which Trade receivables: -€1.6m
- Tangible fixed assets -€1.3m
down €1.3m (-22.8%), from €5.7m to €4.4m
Equity and liabilities
- Other debts -€10.0m
down €10.0m (-100.0%), from €10.0m to €0
- Reserves +€5.1m
up €5.1m (+45.3%), from €11.3m to €16.4m
of which Distributable reserves: +€5.1m
- Provisions +€4.5m
up €4.5m (+65.9%), from €6.9m to €11.4m
- Trade debts -€4.3m
down €4.3m (-29.5%), from €14.5m to €10.2m
- Profit (loss) carried forward -€2.9m
down €2.9m (-57.5%), from €5.1m to €2.2m
Income statement
- Provisions +€4.7m
up €4.7m, from -€142,852 to €4.5m
- Goods and materials -€4.4m
down €4.4m (-4.6%), from €95.9m to €91.5m
of which Change in stocks: decrease (increase): -€2.8m
- Turnover -€2.7m
down €2.7m (-2.0%), from €136.0m to €133.3m
- Taxes +€1.4m
up €1.4m (+94.9%), from €1.4m to €2.8m
of which Taxes: +€929,201
From the 2023 result to the 2024 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.
Result 2023
€5.1m
Turnover
-€2.7m
Other operating income
+€787,833
Goods and materials
+€4.4m
Services and other goods
+€945,948
Staff costs
-€97,262
Depreciation
-€440,214
Write-downs
-€2,378
Provisions
-€4.7m
Other operating charges
+€107,194
Financial income
+€196,430
Financial charges
-€108,028
Taxes
-€1.4m
Result 2024
€2.2m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€3.8m
Investment
-€213,012
Financing
€0
Cash 2023
€39.0m
From operations (derived)
-€3.8m
Net result for the year
+€2.2m
Depreciation
+€1.6m
Stocks and contracts
+€262,537
Receivables within one year
+€1.6m
Deferred charges and accrued income
+€40,625
Provisions
+€4.5m
Trade debts
-€4.3m
Tax, wage and social debts
+€32,896
Advances received
+€45,470
Other debts
-€10.0m
Accrued charges and deferred income
+€132,993
Investment (derived)
-€213,012
Investment in fixed assets (net)
-€213,012
Cash 2024
€35.0m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,280,144 | €51,913,243 | -€7.4m | -12.4% |
| Fixed assets | 21/28 | €5,791,513 | €4,401,757 | -€1.4m | -24.0% |
| Intangible fixed assets | 21 | €15,983 | €333 | -€15,650 | -97.9% |
| Tangible fixed assets | 22/27 | €5,658,174 | €4,370,040 | -€1.3m | -22.8% |
| Land and buildings | 22 | €3,392,849 | €3,190,511 | -€202,338 | -6.0% |
| Plant, machinery and equipment | 23 | €221,899 | €159,347 | -€62,552 | -28.2% |
| Furniture and vehicles | 24 | €1,114,325 | €713,291 | -€401,034 | -36.0% |
| Other tangible fixed assets | 26 | €929,101 | €306,890 | -€622,211 | -67.0% |
| Financial fixed assets | 28 | €117,356 | €31,385 | -€85,971 | -73.3% |
| Other financial fixed assets | 284/8 | €117,356 | €31,385 | -€85,971 | -73.3% |
| Amounts receivable and cash guarantees | 285/8 | €117,356 | €31,385 | -€85,971 | -73.3% |
| Current assets | 29/58 | €53,488,631 | €47,511,486 | -€6.0m | -11.2% |
| Stocks and contracts in progress | 3 | €5,959,171 | €5,696,635 | -€262,537 | -4.4% |
| Stocks | 30/36 | €5,959,171 | €5,696,635 | -€262,537 | -4.4% |
| Goods purchased for resale | 34 | €5,959,171 | €5,696,635 | -€262,537 | -4.4% |
| Amounts receivable within one year | 40/41 | €8,282,402 | €6,654,409 | -€1.6m | -19.7% |
| Trade receivables | 40 | €8,282,402 | €6,639,409 | -€1.6m | -19.8% |
| Other amounts receivable | 41 | €0 | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €39,027,426 | €34,981,436 | -€4.0m | -10.4% |
| Deferred charges and accrued income | 490/1 | €219,632 | €179,006 | -€40,625 | -18.5% |
| Total equity and liabilities | 10/49 | €59,280,144 | €51,913,243 | -€7.4m | -12.4% |
| Equity | 10/15 | €19,262,485 | €21,428,036 | +€2.2m | +11.2% |
| Contributions | 10/11 | €2,892,468 | €2,892,468 | = | 0.0% |
| Capital | 10 | €1,300,000 | €1,300,000 | = | 0.0% |
| Issued capital | 100 | €1,300,000 | €1,300,000 | = | 0.0% |
| Outside capital | 11 | €1,592,468 | €1,592,468 | = | 0.0% |
| Share premium | 1100/10 | €1,592,468 | €1,592,468 | = | 0.0% |
| Reserves | 13 | €11,269,799 | €16,370,017 | +€5.1m | +45.3% |
| Non-distributable reserves | 130/1 | €130,000 | €130,000 | = | 0.0% |
| Legal reserve | 130 | €130,000 | €130,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,294,947 | €1,294,947 | = | 0.0% |
| Distributable reserves | 133 | €9,844,852 | €14,945,070 | +€5.1m | +51.8% |
| Profit (loss) carried forward | 14 | €5,100,218 | €2,165,552 | -€2.9m | -57.5% |
| Provisions and deferred taxes | 16 | €6,875,815 | €11,407,074 | +€4.5m | +65.9% |
| Provisions for liabilities and charges | 160/5 | €6,875,815 | €11,407,074 | +€4.5m | +65.9% |
| Other liabilities and charges | 164/5 | €6,875,815 | €11,407,074 | +€4.5m | +65.9% |
| Amounts payable | 17/49 | €33,141,844 | €19,078,133 | -€14.1m | -42.4% |
| Amounts payable within one year | 42/48 | €31,556,382 | €17,359,678 | -€14.2m | -45.0% |
| Trade debts | 44 | €14,494,585 | €10,219,515 | -€4.3m | -29.5% |
| Suppliers | 440/4 | €14,494,585 | €10,219,515 | -€4.3m | -29.5% |
| Advances received on contracts in progress | 46 | €95,932 | €141,403 | +€45,470 | +47.4% |
| Taxes, remuneration and social security | 45 | €6,965,865 | €6,998,761 | +€32,896 | +0.5% |
| Taxes | 450/3 | €1,920,874 | €2,585,527 | +€664,652 | +34.6% |
| Remuneration and social security | 454/9 | €5,044,990 | €4,413,234 | -€631,756 | -12.5% |
| Other amounts payable | 47/48 | €10,000,000 | €0 | -€10.0m | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,585,462 | €1,718,455 | +€132,993 | +8.4% |
| Operating income | 70/76A | €140,649,608 | €138,779,494 | -€1.9m | -1.3% |
| Turnover | 70 | €135,971,350 | €133,313,403 | -€2.7m | -2.0% |
| Other operating income | 74 | €4,678,258 | €5,466,091 | +€787,833 | +16.8% |
| Operating charges | 60/66A | €135,116,477 | €134,906,742 | -€209,734 | -0.2% |
| Goods for resale, raw materials and consumables | 60 | €95,902,499 | €91,531,942 | -€4.4m | -4.6% |
| Purchases | 600/8 | €92,813,935 | €91,290,970 | -€1.5m | -1.6% |
| Change in stocks: decrease (increase) | 609 | €3,088,564 | €240,972 | -€2.8m | -92.2% |
| Services and other goods | 61 | €18,521,265 | €17,575,317 | -€945,948 | -5.1% |
| Remuneration, social security and pensions | 62 | €18,350,199 | €18,447,461 | +€97,262 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,162,553 | €1,602,767 | +€440,214 | +37.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,640 | €6,018 | +€2,378 | +65.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€142,852 | €4,531,259 | +€4.7m | |
| Other operating charges | 640/8 | €1,319,172 | €1,211,978 | -€107,194 | -8.1% |
| Operating profit (loss) | 9901 | €5,533,131 | €3,872,752 | -€1.7m | -30.0% |
| Financial income | 75/76B | €1,171,569 | €1,367,999 | +€196,430 | +16.8% |
| Recurring financial income | 75 | €1,171,569 | €1,367,999 | +€196,430 | +16.8% |
| Income from current assets | 751 | €1,171,569 | €1,367,999 | +€196,430 | +16.8% |
| Financial charges | 65/66B | €168,274 | €276,302 | +€108,028 | +64.2% |
| Recurring financial charges | 65 | €168,274 | €276,302 | +€108,028 | +64.2% |
| Other financial charges | 652/9 | €168,274 | €276,302 | +€108,028 | +64.2% |
| Profit (loss) for the period before taxes | 9903 | €6,536,425 | €4,964,448 | -€1.6m | -24.0% |
| Income taxes | 67/77 | €1,436,207 | €2,798,897 | +€1.4m | +94.9% |
| Taxes | 670/3 | €1,869,695 | €2,798,897 | +€929,201 | +49.7% |
| Tax adjustments and reversals of tax provisions | 77 | €433,488 | - | -€433,488 | |
| Profit (loss) for the period | 9904 | €5,100,218 | €2,165,552 | -€2.9m | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,100,218 | €2,165,552 | -€2.9m | -57.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.