MILAK: 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.
MILAK
Largest movements
- Stocks and contracts +€24,298
new in 2025: €24,298
- Cash -€15,811
down €15,811 (-98.7%), from €16,013 to €201
mainly Stocks and contracts (-€24,298) and Tax, wage and social debts (-€14,711)
- Receivables within one year +€8,327
up €8,327 (+160.2%), from €5,199 to €13,527
- Tangible fixed assets -€1,346
down €1,346 (-14.4%), from €9,350 to €8,004
of which Furniture and vehicles: -€1,346
- Deferred charges and accrued income -€1,167
down €1,167 (-30.6%), from €3,809 to €2,642
- Other debts +€28,591
up €28,591 (+669.3%), from €4,272 to €32,863
- Tax, wage and social debts -€14,711
down €14,711 (-66.5%), from €22,117 to €7,405
of which Taxes: -€11,503
- Trade debts +€1,014
up €1,014 (+12.6%), from €8,020 to €9,034
- Profit (loss) carried forward -€593
down €593 (-29.1%), from -€2,037 to -€2,630
- Gross operating margin +€8,829
up €8,829 (+58.9%), from €15,002 to €23,831
- Depreciation -€3,503
down €3,503 (-59.2%), from €5,914 to €2,411
- Staff costs -€3,497
down €3,497 (-21.6%), from €16,183 to €12,686
- Financial charges +€2,969
up €2,969 (+118.9%), from €2,497 to €5,467
- Taxes +€1,430
up €1,430 (+111.7%), from €1,280 to €2,711
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 | €34,371 | €48,672 | +€14,301 | +41.6% |
| Fixed assets | 21/28 | €9,350 | €8,004 | -€1,346 | -14.4% |
| Tangible fixed assets | 22/27 | €9,350 | €8,004 | -€1,346 | -14.4% |
| Furniture and vehicles | 24 | €6,300 | €4,954 | -€1,346 | -21.4% |
| Other tangible fixed assets | 26 | €3,050 | €3,050 | = | 0.0% |
| Current assets | 29/58 | €25,021 | €40,668 | +€15,647 | +62.5% |
| Stocks and contracts in progress | 3 | - | €24,298 | +€24,298 | |
| Stocks | 30/36 | - | €24,298 | +€24,298 | |
| Amounts receivable within one year | 40/41 | €5,199 | €13,527 | +€8,327 | +160.2% |
| Trade receivables | 40 | €5,199 | €13,527 | +€8,327 | +160.2% |
| Cash at bank and in hand | 54/58 | €16,013 | €201 | -€15,811 | -98.7% |
| Deferred charges and accrued income | 490/1 | €3,809 | €2,642 | -€1,167 | -30.6% |
| Total equity and liabilities | 10/49 | €34,371 | €48,672 | +€14,301 | +41.6% |
| Equity | 10/15 | -€37 | -€630 | -€593 | -1601.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,037 | -€2,630 | -€593 | -29.1% |
| Amounts payable | 17/49 | €34,408 | €49,303 | +€14,894 | +43.3% |
| Amounts payable within one year | 42/48 | €34,408 | €49,303 | +€14,894 | +43.3% |
| Trade debts | 44 | €8,020 | €9,034 | +€1,014 | +12.6% |
| Suppliers | 440/4 | €8,020 | €9,034 | +€1,014 | +12.6% |
| Taxes, remuneration and social security | 45 | €22,117 | €7,405 | -€14,711 | -66.5% |
| Taxes | 450/3 | €18,908 | €7,405 | -€11,503 | -60.8% |
| Remuneration and social security | 454/9 | €3,209 | €0 | -€3,209 | -100.0% |
| Other amounts payable | 47/48 | €4,272 | €32,863 | +€28,591 | +669.3% |
| Remuneration, social security and pensions | 62 | €16,183 | €12,686 | -€3,497 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,914 | €2,411 | -€3,503 | -59.2% |
| Other operating charges | 640/8 | €445 | €1,255 | +€810 | +181.9% |
| Gross operating margin | 9900 | €15,002 | €23,831 | +€8,829 | +58.9% |
| Operating profit (loss) | 9901 | -€7,540 | €7,479 | +€15,019 | |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | €2,497 | €5,467 | +€2,969 | +118.9% |
| Recurring financial charges | 65 | €2,497 | €5,467 | +€2,969 | +118.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,038 | €2,117 | +€12,155 | |
| Income taxes | 67/77 | €1,280 | €2,711 | +€1,430 | +111.7% |
| Profit (loss) for the period | 9904 | -€11,318 | -€593 | +€10,724 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,318 | -€593 | +€10,724 | +94.8% |
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.