MIL: 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.
MIL
Largest movements
- Receivables within one year +€72,382
up €72,382 (+728.8%), from €9,932 to €82,314
of which Other amounts receivable: +€76,528
- Cash -€28,022
down €28,022 (-95.6%), from €29,314 to €1,291
mainly Receivables within one year (-€72,382) and Trade debts (-€22,940)
- Intangible fixed assets -€14,500
down €14,500 (-51.8%), from €27,967 to €13,467
- Deferred charges and accrued income +€5,177
new in 2025: €5,177
- Tangible fixed assets +€4,166
up €4,166 (+163.6%), from €2,547 to €6,712
of which Plant, machinery and equipment: +€4,358
- Tax, wage and social debts +€26,862
up €26,862 (+62.3%), from €43,111 to €69,972
of which Remuneration and social security: +€31,714
- Other debts +€25,271
up €25,271, from €0 to €25,271
- Trade debts -€22,940
down €22,940 (-44.2%), from €51,847 to €28,907
- Debts after one year +€21,840
new in 2025: €21,840
- Profit (loss) carried forward -€17,605
down €17,605 (-105.9%), from -€16,628 to -€34,233
- Gross operating margin +€101,128
up €101,128 (+499.6%), from €20,240 to €121,368
- Staff costs +€97,193
up €97,193 (+1148.2%), from €8,465 to €105,658
- Taxes +€4,896
up €4,896, from €0 to €4,896
- Financial income +€1,876
up €1,876, from €0 to €1,876
- Other operating charges -€1,829
down €1,829 (-22.0%), from €8,324 to €6,495
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 | €79,330 | €120,988 | +€41,659 | +52.5% |
| Fixed assets | 21/28 | €40,084 | €29,749 | -€10,334 | -25.8% |
| Intangible fixed assets | 21 | €27,967 | €13,467 | -€14,500 | -51.8% |
| Tangible fixed assets | 22/27 | €2,547 | €6,712 | +€4,166 | +163.6% |
| Plant, machinery and equipment | 23 | €744 | €5,102 | +€4,358 | +585.6% |
| Furniture and vehicles | 24 | €1,803 | €1,611 | -€192 | -10.7% |
| Financial fixed assets | 28 | €9,570 | €9,570 | = | 0.0% |
| Current assets | 29/58 | €39,246 | €91,239 | +€51,993 | +132.5% |
| Stocks and contracts in progress | 3 | - | €2,456 | +€2,456 | |
| Stocks | 30/36 | - | €2,456 | +€2,456 | |
| Amounts receivable within one year | 40/41 | €9,932 | €82,314 | +€72,382 | +728.8% |
| Trade receivables | 40 | €4,437 | €291 | -€4,146 | -93.4% |
| Other amounts receivable | 41 | €5,495 | €82,023 | +€76,528 | +1392.7% |
| Cash at bank and in hand | 54/58 | €29,314 | €1,291 | -€28,022 | -95.6% |
| Deferred charges and accrued income | 490/1 | - | €5,177 | +€5,177 | |
| Total equity and liabilities | 10/49 | €79,330 | €120,988 | +€41,659 | +52.5% |
| Equity | 10/15 | -€15,628 | -€33,233 | -€17,605 | -112.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€16,628 | -€34,233 | -€17,605 | -105.9% |
| Amounts payable | 17/49 | €94,958 | €154,221 | +€59,263 | +62.4% |
| Amounts payable after more than one year | 17 | - | €21,840 | +€21,840 | |
| Financial debts | 170/4 | - | €21,840 | +€21,840 | |
| Amounts payable within one year | 42/48 | €94,958 | €132,312 | +€37,354 | +39.3% |
| Current portion of amounts payable after more than one year | 42 | - | €8,160 | +€8,160 | |
| Trade debts | 44 | €51,847 | €28,907 | -€22,940 | -44.2% |
| Suppliers | 440/4 | €51,847 | €28,907 | -€22,940 | -44.2% |
| Taxes, remuneration and social security | 45 | €43,111 | €69,972 | +€26,862 | +62.3% |
| Taxes | 450/3 | €37,912 | €33,061 | -€4,852 | -12.8% |
| Remuneration and social security | 454/9 | €5,198 | €36,912 | +€31,714 | +610.1% |
| Other amounts payable | 47/48 | €0 | €25,271 | +€25,271 | |
| Accrued charges and deferred income | 492/3 | - | €70 | +€70 | |
| Remuneration, social security and pensions | 62 | €8,465 | €105,658 | +€97,193 | +1148.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,817 | €15,334 | +€517 | +3.5% |
| Other operating charges | 640/8 | €8,324 | €6,495 | -€1,829 | -22.0% |
| Gross operating margin | 9900 | €20,240 | €121,368 | +€101,128 | +499.6% |
| Operating profit (loss) | 9901 | -€11,366 | -€6,119 | +€5,247 | +46.2% |
| Financial income | 75/76B | €0 | €1,876 | +€1,876 | |
| Recurring financial income | 75 | €0 | €1,876 | +€1,876 | |
| Financial charges | 65/66B | €6,658 | €8,466 | +€1,808 | +27.1% |
| Recurring financial charges | 65 | €6,658 | €8,466 | +€1,808 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,024 | -€12,709 | +€5,315 | +29.5% |
| Income taxes | 67/77 | €0 | €4,896 | +€4,896 | |
| Profit (loss) for the period | 9904 | -€18,024 | -€17,605 | +€419 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,024 | -€17,605 | +€419 | +2.3% |
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 9 October 2026 via checked.be.