MIL DEVELOPPEMENT: 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 DEVELOPPEMENT
Largest movements
- Receivables within one year -€26,970
down €26,970 (-86.8%), from €31,078 to €4,108
of which Trade receivables: -€26,872
- Tangible fixed assets -€3,998
down €3,998 (-26.7%), from €14,964 to €10,967
of which Plant, machinery and equipment: -€4,211
- Cash -€1,275
down €1,275 (-49.1%), from €2,597 to €1,321
mainly Net result for the year (-€20,199) and Trade debts (-€13,925)
- Profit (loss) carried forward -€20,199
down €20,199 (-75.4%), from -€26,788 to -€46,987
- Other debts +€15,011
up €15,011 (+251%), from €5,985 to €20,996
- Trade debts -€13,925
down €13,925 (-96.5%), from €14,438 to €512
- Debts after one year -€13,593
down €13,593 (-38.6%), from €35,250 to €21,657
- Tax, wage and social debts -€868
down €868 (-79.0%), from €1,098 to €230
- Gross operating margin -€8,379
down €8,379 (-146%), from -€5,759 to -€14,138
- Depreciation +€1,189
up €1,189 (+42.3%), from €2,809 to €3,998
- Financial income +€545
up €545 (+3,044%), from €18 to €563
of which Non-recurring financial income: +€560
- Financial charges -€533
down €533 (-17.8%), from €2,996 to €2,463
- Other operating charges +€164
new in 2025: €164
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.
Derived cash bridge
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 | €48,639 | €16,396 | -€32,243 | -66.3% |
| Fixed assets | 21/28 | €14,964 | €10,967 | -€3,998 | -26.7% |
| Tangible fixed assets | 22/27 | €14,964 | €10,967 | -€3,998 | -26.7% |
| Plant, machinery and equipment | 23 | €14,964 | €10,753 | -€4,211 | -28.1% |
| Furniture and vehicles | 24 | - | €214 | +€214 | |
| Current assets | 29/58 | €33,675 | €5,430 | -€28,245 | -83.9% |
| Amounts receivable within one year | 40/41 | €31,078 | €4,108 | -€26,970 | -86.8% |
| Trade receivables | 40 | €30,980 | €4,108 | -€26,872 | -86.7% |
| Other amounts receivable | 41 | €98 | - | -€98 | |
| Cash at bank and in hand | 54/58 | €2,597 | €1,321 | -€1,275 | -49.1% |
| Total equity and liabilities | 10/49 | €48,639 | €16,396 | -€32,243 | -66.3% |
| Equity | 10/15 | -€21,788 | -€41,987 | -€20,199 | -92.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,788 | -€46,987 | -€20,199 | -75.4% |
| Amounts payable | 17/49 | €70,427 | €58,383 | -€12,044 | -17.1% |
| Amounts payable after more than one year | 17 | €35,250 | €21,657 | -€13,593 | -38.6% |
| Financial debts | 170/4 | €35,250 | €21,657 | -€13,593 | -38.6% |
| Amounts payable within one year | 42/48 | €34,480 | €35,332 | +€852 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €12,959 | €13,593 | +€634 | +4.9% |
| Trade debts | 44 | €14,438 | €512 | -€13,925 | -96.5% |
| Suppliers | 440/4 | €14,438 | €512 | -€13,925 | -96.5% |
| Taxes, remuneration and social security | 45 | €1,098 | €230 | -€868 | -79.0% |
| Taxes | 450/3 | €1,098 | €230 | -€868 | -79.0% |
| Other amounts payable | 47/48 | €5,985 | €20,996 | +€15,011 | +251% |
| Accrued charges and deferred income | 492/3 | €697 | €1,394 | +€697 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,809 | €3,998 | +€1,189 | +42.3% |
| Other operating charges | 640/8 | - | €164 | +€164 | |
| Gross operating margin | 9900 | -€5,759 | -€14,138 | -€8,379 | -146% |
| Operating profit (loss) | 9901 | -€8,568 | -€18,299 | -€9,732 | -114% |
| Financial income | 75/76B | €18 | €563 | +€545 | +3,044% |
| Recurring financial income | 75 | €18 | €3 | -€15 | -82.9% |
| Non-recurring financial income | 76B | - | €560 | +€560 | |
| Financial charges | 65/66B | €2,996 | €2,463 | -€533 | -17.8% |
| Recurring financial charges | 65 | €2,996 | €2,463 | -€533 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | -€11,546 | -€20,199 | -€8,653 | -74.9% |
| Profit (loss) for the period | 9904 | -€11,546 | -€20,199 | -€8,653 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,546 | -€20,199 | -€8,653 | -74.9% |
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 20 October 2026 via checked.be.