MIL-TECH: 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-TECH
Largest movements
- Tangible fixed assets +€411,671
up €411,671 (+1076.3%), from €38,250 to €449,921
of which Land and buildings: +€348,377
- Cash +€17,552
up €17,552 (+1094.2%), from €1,604 to €19,157
mainly Debts after one year (+€356,737) and Other debts (+€36,941)
- Receivables within one year -€13,507
down €13,507 (-67.4%), from €20,029 to €6,522
of which Trade receivables: -€15,020
- Debts after one year +€356,737
new in 2025: €356,737
- Other debts +€36,941
up €36,941 (+3432.9%), from €1,076 to €38,017
- Current portion of long-term debt +€28,316
new in 2025: €28,316
- Reserves -€14,673
down €14,673 (-32.3%), from €45,407 to €30,734
- Depreciation +€33,105
new in 2025: €33,105
- Gross operating margin -€23,587
down €23,587 (-41.0%), from €57,475 to €33,888
- Financial charges +€14,656
up €14,656 (+48854.6%), from €30 to €14,686
- Taxes -€11,404
no longer reported in 2025 (was €11,404)
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 | €59,884 | €475,600 | +€415,716 | +694.2% |
| Fixed assets | 21/28 | €38,250 | €449,921 | +€411,671 | +1076.3% |
| Tangible fixed assets | 22/27 | €38,250 | €449,921 | +€411,671 | +1076.3% |
| Land and buildings | 22 | €38,250 | €386,627 | +€348,377 | +910.8% |
| Plant, machinery and equipment | 23 | - | €9,735 | +€9,735 | |
| Leasing and similar rights | 25 | - | €53,559 | +€53,559 | |
| Current assets | 29/58 | €21,634 | €25,678 | +€4,045 | +18.7% |
| Amounts receivable within one year | 40/41 | €20,029 | €6,522 | -€13,507 | -67.4% |
| Trade receivables | 40 | €20,024 | €5,003 | -€15,020 | -75.0% |
| Other amounts receivable | 41 | €6 | €1,519 | +€1,513 | +26590.3% |
| Cash at bank and in hand | 54/58 | €1,604 | €19,157 | +€17,552 | +1094.2% |
| Total equity and liabilities | 10/49 | €59,884 | €475,600 | +€415,716 | +694.2% |
| Equity | 10/15 | €47,907 | €33,234 | -€14,673 | -30.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €45,407 | €30,734 | -€14,673 | -32.3% |
| Distributable reserves | 133 | €45,407 | €30,734 | -€14,673 | -32.3% |
| Amounts payable | 17/49 | €11,976 | €442,365 | +€430,389 | +3593.6% |
| Amounts payable after more than one year | 17 | - | €356,737 | +€356,737 | |
| Financial debts | 170/4 | - | €356,737 | +€356,737 | |
| Amounts payable within one year | 42/48 | €11,976 | €81,776 | +€69,800 | +582.8% |
| Current portion of amounts payable after more than one year | 42 | - | €28,316 | +€28,316 | |
| Trade debts | 44 | €526 | €1,131 | +€605 | +115.0% |
| Suppliers | 440/4 | €526 | €1,131 | +€605 | +115.0% |
| Taxes, remuneration and social security | 45 | €10,374 | €14,312 | +€3,938 | +38.0% |
| Taxes | 450/3 | €10,374 | €12,227 | +€1,853 | +17.9% |
| Remuneration and social security | 454/9 | - | €2,085 | +€2,085 | |
| Other amounts payable | 47/48 | €1,076 | €38,017 | +€36,941 | +3432.9% |
| Accrued charges and deferred income | 492/3 | - | €3,852 | +€3,852 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €33,105 | +€33,105 | |
| Other operating charges | 640/8 | €635 | €771 | +€137 | +21.5% |
| Gross operating margin | 9900 | €57,475 | €33,888 | -€23,587 | -41.0% |
| Operating profit (loss) | 9901 | €56,841 | €12 | -€56,829 | -100.0% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €30 | €14,686 | +€14,656 | +48854.6% |
| Recurring financial charges | 65 | €30 | €14,686 | +€14,656 | +48854.6% |
| Profit (loss) for the period before taxes | 9903 | €56,811 | -€14,673 | -€71,484 | |
| Income taxes | 67/77 | €11,404 | - | -€11,404 | |
| Profit (loss) for the period | 9904 | €45,407 | -€14,673 | -€60,080 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,407 | -€14,673 | -€60,080 |
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.