MIL BUSINESS: what changed
What changed
MIL BUSINESS
NACE 46.190, Agents in non-specialised wholesale trade
filed annual accounts (NBB)
Net result for the year
€11,428
2024 · €42,459-€31,030
Equity
€185,122
2024 · €173,694+€11,428
Cash
€720
2024 · €3,118-€2,398
Balance sheet total
€1.4m
2024 · €2.1m-€712,329
Largest movements
Assets
- Receivables within one year -€668,494
down €668,494 (-40.0%), from €1.7m to €1.0m
of which Trade receivables: -€783,111
- Stocks and contracts -€53,003
down €53,003 (-15.3%), from €345,973 to €292,970
Equity and liabilities
- Trade debts -€462,072
down €462,072 (-48.7%), from €948,936 to €486,864
- Debts after one year -€323,608
down €323,608 (-86.8%), from €372,789 to €49,180
of which Financial debts: -€313,810
- Tax, wage and social debts +€67,952
up €67,952 (+16.4%), from €413,277 to €481,229
of which Taxes: +€56,355
Income statement
- Write-downs +€120,881
new in 2025: €120,881
- Gross operating margin +€99,752
up €99,752 (+61.2%), from €163,053 to €262,805
- Taxes +€26,401
up €26,401 (+128%), from €20,630 to €47,031
- Other operating charges -€21,848
down €21,848 (-61.9%), from €35,316 to €13,468
- Depreciation +€7,154
up €7,154 (+300%), from €2,387 to €9,540
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.
Result 2024
€42,459
Gross operating margin
+€99,752
Staff costs
-€2,230
Depreciation
-€7,154
Write-downs
-€120,881
Other operating charges
+€21,848
Financial income
-€224
Financial charges
+€4,260
Taxes
-€26,401
Result 2025
€11,428
raises the resultlowers the result
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.
From operations
+€347,284
Investment
-€26,074
Financing
-€323,608
Cash 2024
€3,118
From operations (derived)
+€347,284
Net result for the year
+€11,428
Depreciation
+€9,540
Stocks and contracts
+€53,003
Receivables within one year
+€668,494
Deferred charges and accrued income
+€4,967
Trade debts
-€462,072
Tax, wage and social debts
+€67,952
Advances received
+€8,444
Other debts
-€14,472
Investment (derived)
-€26,074
Investment in fixed assets (net)
-€26,074
Financing
-€323,608
Debts after one year
-€323,608
Cash 2025
€720
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,121,164 | €1,408,835 | -€712,329 | -33.6% |
| Fixed assets | 21/28 | €96,630 | €113,164 | +€16,534 | +17.1% |
| Tangible fixed assets | 22/27 | €18,610 | €35,144 | +€16,534 | +88.8% |
| Plant, machinery and equipment | 23 | - | €21,616 | +€21,616 | |
| Furniture and vehicles | 24 | €18,610 | €13,528 | -€5,082 | -27.3% |
| Financial fixed assets | 28 | €78,020 | €78,020 | = | 0.0% |
| Current assets | 29/58 | €2,024,533 | €1,295,671 | -€728,863 | -36.0% |
| Stocks and contracts in progress | 3 | €345,973 | €292,970 | -€53,003 | -15.3% |
| Stocks | 30/36 | €345,973 | €292,970 | -€53,003 | -15.3% |
| Amounts receivable within one year | 40/41 | €1,670,279 | €1,001,786 | -€668,494 | -40.0% |
| Trade receivables | 40 | €1,653,002 | €869,890 | -€783,111 | -47.4% |
| Other amounts receivable | 41 | €17,278 | €131,895 | +€114,618 | +663% |
| Cash at bank and in hand | 54/58 | €3,118 | €720 | -€2,398 | -76.9% |
| Deferred charges and accrued income | 490/1 | €5,162 | €195 | -€4,967 | -96.2% |
| Total equity and liabilities | 10/49 | €2,121,164 | €1,408,835 | -€712,329 | -33.6% |
| Equity | 10/15 | €173,694 | €185,122 | +€11,428 | +6.6% |
| Contributions | 10/11 | €36,800 | €36,800 | = | 0.0% |
| Reserves | 13 | €2,189 | €2,189 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,189 | €2,189 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,189 | €2,189 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,705 | €146,133 | +€11,428 | +8.5% |
| Amounts payable | 17/49 | €1,947,470 | €1,223,713 | -€723,757 | -37.2% |
| Amounts payable after more than one year | 17 | €372,789 | €49,180 | -€323,608 | -86.8% |
| Financial debts | 170/4 | €362,289 | €48,479 | -€313,810 | -86.6% |
| Other amounts payable | 178/9 | €10,500 | €702 | -€9,798 | -93.3% |
| Amounts payable within one year | 42/48 | €1,464,681 | €1,064,532 | -€400,149 | -27.3% |
| Trade debts | 44 | €948,936 | €486,864 | -€462,072 | -48.7% |
| Suppliers | 440/4 | €948,936 | €486,864 | -€462,072 | -48.7% |
| Advances received on contracts in progress | 46 | €30,000 | €38,444 | +€8,444 | +28.1% |
| Taxes, remuneration and social security | 45 | €413,277 | €481,229 | +€67,952 | +16.4% |
| Taxes | 450/3 | €410,166 | €466,520 | +€56,355 | +13.7% |
| Remuneration and social security | 454/9 | €3,112 | €14,708 | +€11,597 | +373% |
| Other amounts payable | 47/48 | €72,468 | €57,996 | -€14,472 | -20.0% |
| Accrued charges and deferred income | 492/3 | €110,000 | €110,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €50,719 | €52,949 | +€2,230 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,387 | €9,540 | +€7,154 | +300% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €120,881 | +€120,881 | |
| Other operating charges | 640/8 | €35,316 | €13,468 | -€21,848 | -61.9% |
| Gross operating margin | 9900 | €163,053 | €262,805 | +€99,752 | +61.2% |
| Operating profit (loss) | 9901 | €74,632 | €65,966 | -€8,666 | -11.6% |
| Financial income | 75/76B | €224 | - | -€224 | |
| Recurring financial income | 75 | €224 | - | -€224 | |
| Financial charges | 65/66B | €11,767 | €7,507 | -€4,260 | -36.2% |
| Recurring financial charges | 65 | €11,767 | €7,507 | -€4,260 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | €63,089 | €58,459 | -€4,629 | -7.3% |
| Income taxes | 67/77 | €20,630 | €47,031 | +€26,401 | +128% |
| Profit (loss) for the period | 9904 | €42,459 | €11,428 | -€31,030 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,459 | €11,428 | -€31,030 | -73.1% |
Next steps
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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.