Mil-Con: 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.
Mil-Con
Largest movements
- Cash +€17,388
up €17,388 (+50.2%), from €34,651 to €52,040
mainly Debts after one year (+€54,039) and Net result for the year (+€38,626)
- Receivables within one year +€9,837
up €9,837 (+137.8%), from €7,138 to €16,975
of which Trade receivables: +€9,837
- Tangible fixed assets -€7,625
down €7,625 (-9.8%), from €77,509 to €69,884
of which Leasing and similar rights: -€13,120
- Reserves -€74,700
no longer reported in 2025 (was €74,700)
- Debts after one year +€54,039
up €54,039 (+115.5%), from €46,798 to €100,837
of which Other amounts payable: +€63,495
- Other debts +€35,000
new in 2025: €35,000
- Profit (loss) carried forward +€3,626
up €3,626 (+1239.6%), from €293 to €3,918
- Gross operating margin +€35,507
up €35,507 (+118.4%), from €29,989 to €65,496
- Depreciation +€13,142
up €13,142 (+598.0%), from €2,198 to €15,340
- Taxes +€5,619
up €5,619 (+134.4%), from €4,182 to €9,802
- Financial charges -€1,130
down €1,130 (-35.8%), from €3,153 to €2,023
of which Non-recurring financial charges: -€2,696
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 | €143,589 | €162,568 | +€18,979 | +13.2% |
| Fixed assets | 21/28 | €77,509 | €69,884 | -€7,625 | -9.8% |
| Tangible fixed assets | 22/27 | €77,509 | €69,884 | -€7,625 | -9.8% |
| Land and buildings | 22 | €12,626 | €11,091 | -€1,535 | -12.2% |
| Furniture and vehicles | 24 | - | €7,030 | +€7,030 | |
| Leasing and similar rights | 25 | €64,883 | €51,763 | -€13,120 | -20.2% |
| Current assets | 29/58 | €66,080 | €92,685 | +€26,604 | +40.3% |
| Amounts receivable after more than one year | 29 | €20,694 | €21,108 | +€414 | +2.0% |
| Trade receivables | 290 | €20,694 | €21,108 | +€414 | +2.0% |
| Amounts receivable within one year | 40/41 | €7,138 | €16,975 | +€9,837 | +137.8% |
| Trade receivables | 40 | €6,988 | €16,825 | +€9,837 | +140.8% |
| Other amounts receivable | 41 | €150 | €150 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,651 | €52,040 | +€17,388 | +50.2% |
| Deferred charges and accrued income | 490/1 | €3,597 | €2,563 | -€1,035 | -28.8% |
| Total equity and liabilities | 10/49 | €143,589 | €162,568 | +€18,979 | +13.2% |
| Equity | 10/15 | €76,193 | €5,118 | -€71,074 | -93.3% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €74,700 | - | -€74,700 | |
| Distributable reserves | 133 | €74,700 | - | -€74,700 | |
| Profit (loss) carried forward | 14 | €293 | €3,918 | +€3,626 | +1239.6% |
| Amounts payable | 17/49 | €67,397 | €157,450 | +€90,053 | +133.6% |
| Amounts payable after more than one year | 17 | €46,798 | €100,837 | +€54,039 | +115.5% |
| Financial debts | 170/4 | €46,466 | €37,010 | -€9,456 | -20.4% |
| Other amounts payable | 178/9 | €332 | €63,827 | +€63,495 | +19133.6% |
| Amounts payable within one year | 42/48 | €20,599 | €56,614 | +€36,014 | +174.8% |
| Current portion of amounts payable after more than one year | 42 | €8,349 | €8,682 | +€334 | +4.0% |
| Trade debts | 44 | €1,415 | €2,473 | +€1,058 | +74.8% |
| Suppliers | 440/4 | €1,415 | €2,473 | +€1,058 | +74.8% |
| Taxes, remuneration and social security | 45 | €10,836 | €10,458 | -€377 | -3.5% |
| Taxes | 450/3 | €10,836 | €10,458 | -€377 | -3.5% |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,198 | €15,340 | +€13,142 | +598.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €29,989 | €65,496 | +€35,507 | +118.4% |
| Operating profit (loss) | 9901 | €27,673 | €50,036 | +€22,363 | +80.8% |
| Financial income | 75/76B | €406 | €414 | +€8 | +2.0% |
| Recurring financial income | 75 | €406 | €414 | +€8 | +2.0% |
| Financial charges | 65/66B | €3,153 | €2,023 | -€1,130 | -35.8% |
| Recurring financial charges | 65 | €457 | €2,023 | +€1,566 | +343.0% |
| Non-recurring financial charges | 66B | €2,696 | - | -€2,696 | |
| Profit (loss) for the period before taxes | 9903 | €24,926 | €48,427 | +€23,501 | +94.3% |
| Income taxes | 67/77 | €4,182 | €9,802 | +€5,619 | +134.4% |
| Profit (loss) for the period | 9904 | €20,744 | €38,626 | +€17,882 | +86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,744 | €38,626 | +€17,882 | +86.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.