MiL Construct: 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 Construct
Largest movements
- Receivables within one year +€56,179
up €56,179 (+43.4%), from €129,369 to €185,548
of which Other amounts receivable: +€53,796
- Cash +€12,199
up €12,199 (+32.5%), from €37,541 to €49,740
mainly Net result for the year (+€65,086) and Depreciation (+€13,821)
- Tangible fixed assets -€7,156
down €7,156 (-24.8%), from €28,810 to €21,654
of which Furniture and vehicles: -€7,806
- Profit (loss) carried forward +€65,086
up €65,086 (+48.1%), from €135,355 to €200,441
- Tax, wage and social debts -€13,550
down €13,550 (-32.0%), from €42,318 to €28,767
of which Taxes: -€14,603
- Current portion of long-term debt +€12,020
new in 2025: €12,020
- Gross operating margin +€24,155
up €24,155 (+32.3%), from €74,843 to €98,998
- Taxes +€9,772
up €9,772 (+68.8%), from €14,211 to €23,982
- Financial income +€5,138
up €5,138 (+120.7%), from €4,257 to €9,395
- Financial charges +€1,168
up €1,168 (+16026.7%), from €7 to €1,176
- Staff costs +€1,032
up €1,032 (+45.9%), from €2,250 to €3,281
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 | €196,242 | €257,266 | +€61,024 | +31.1% |
| Fixed assets | 21/28 | €29,308 | €21,834 | -€7,474 | -25.5% |
| Intangible fixed assets | 21 | €498 | €180 | -€318 | -63.8% |
| Tangible fixed assets | 22/27 | €28,810 | €21,654 | -€7,156 | -24.8% |
| Plant, machinery and equipment | 23 | €12,484 | €13,135 | +€650 | +5.2% |
| Furniture and vehicles | 24 | €16,326 | €8,520 | -€7,806 | -47.8% |
| Current assets | 29/58 | €166,933 | €235,431 | +€68,498 | +41.0% |
| Amounts receivable within one year | 40/41 | €129,369 | €185,548 | +€56,179 | +43.4% |
| Trade receivables | 40 | €19,689 | €22,072 | +€2,383 | +12.1% |
| Other amounts receivable | 41 | €109,680 | €163,476 | +€53,796 | +49.0% |
| Cash at bank and in hand | 54/58 | €37,541 | €49,740 | +€12,199 | +32.5% |
| Deferred charges and accrued income | 490/1 | €23 | €143 | +€120 | +520.4% |
| Total equity and liabilities | 10/49 | €196,242 | €257,266 | +€61,024 | +31.1% |
| Equity | 10/15 | €145,355 | €210,441 | +€65,086 | +44.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,355 | €200,441 | +€65,086 | +48.1% |
| Amounts payable | 17/49 | €50,887 | €46,825 | -€4,062 | -8.0% |
| Amounts payable within one year | 42/48 | €50,887 | €46,825 | -€4,062 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,020 | +€12,020 | |
| Trade debts | 44 | €8,569 | €6,038 | -€2,532 | -29.5% |
| Suppliers | 440/4 | €8,569 | €6,038 | -€2,532 | -29.5% |
| Taxes, remuneration and social security | 45 | €42,318 | €28,767 | -€13,550 | -32.0% |
| Taxes | 450/3 | €40,677 | €26,075 | -€14,603 | -35.9% |
| Remuneration and social security | 454/9 | €1,640 | €2,693 | +€1,052 | +64.2% |
| Remuneration, social security and pensions | 62 | €2,250 | €3,281 | +€1,032 | +45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,842 | €13,821 | -€21 | -0.2% |
| Other operating charges | 640/8 | €209 | €1,047 | +€838 | +400.2% |
| Gross operating margin | 9900 | €74,843 | €98,998 | +€24,155 | +32.3% |
| Operating profit (loss) | 9901 | €58,542 | €80,849 | +€22,306 | +38.1% |
| Financial income | 75/76B | €4,257 | €9,395 | +€5,138 | +120.7% |
| Recurring financial income | 75 | €4,257 | €9,395 | +€5,138 | +120.7% |
| Financial charges | 65/66B | €7 | €1,176 | +€1,168 | +16026.7% |
| Recurring financial charges | 65 | €7 | €1,176 | +€1,168 | +16026.7% |
| Profit (loss) for the period before taxes | 9903 | €62,792 | €89,068 | +€26,276 | +41.8% |
| Income taxes | 67/77 | €14,211 | €23,982 | +€9,772 | +68.8% |
| Profit (loss) for the period | 9904 | €48,581 | €65,086 | +€16,505 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,581 | €65,086 | +€16,505 | +34.0% |
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 7 October 2026 via checked.be.