MILEAU: 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.
MILEAU
Largest movements
- Tangible fixed assets -€19,576
down €19,576 (-2.6%), from €747,792 to €728,216
of which Land and buildings: -€19,275
- Cash -€12,229
down €12,229 (-33.6%), from €36,386 to €24,156
mainly Debts after one year (-€42,113) and Trade debts (-€20,389)
- Receivables within one year +€10,048
up €10,048 (+34.9%), from €28,804 to €38,852
of which Trade receivables: +€10,064
- Debts after one year -€42,113
down €42,113 (-11.3%), from €372,377 to €330,264
of which Financial debts: -€42,113
- Reserves +€38,079
up €38,079 (+42.2%), from €90,264 to €128,344
of which Distributable reserves: +€38,079
- Trade debts -€20,389
down €20,389 (-73.8%), from €27,615 to €7,226
- Other debts -€13,554
down €13,554 (-16.1%), from €84,357 to €70,803
- Tax, wage and social debts +€10,099
up €10,099 (+54.0%), from €18,718 to €28,817
of which Taxes: +€10,099
- Gross operating margin +€6,379
up €6,379 (+6.3%), from €100,760 to €107,139
- Taxes +€6,179
up €6,179 (+50.2%), from €12,314 to €18,492
- Financial charges +€3,907
up €3,907 (+33.1%), from €11,788 to €15,695
- Depreciation -€2,169
down €2,169 (-6.9%), from €31,348 to €29,179
- Other operating charges +€1,413
up €1,413 (+31.4%), from €4,499 to €5,912
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 | €814,366 | €792,608 | -€21,758 | -2.7% |
| Fixed assets | 21/28 | €747,792 | €728,216 | -€19,576 | -2.6% |
| Tangible fixed assets | 22/27 | €747,792 | €728,216 | -€19,576 | -2.6% |
| Land and buildings | 22 | €718,553 | €699,278 | -€19,275 | -2.7% |
| Plant, machinery and equipment | 23 | €2,857 | €2,327 | -€529 | -18.5% |
| Furniture and vehicles | 24 | €12,630 | €11,048 | -€1,582 | -12.5% |
| Other tangible fixed assets | 26 | €13,752 | €15,563 | +€1,810 | +13.2% |
| Current assets | 29/58 | €66,574 | €64,392 | -€2,181 | -3.3% |
| Amounts receivable within one year | 40/41 | €28,804 | €38,852 | +€10,048 | +34.9% |
| Trade receivables | 40 | €28,770 | €38,834 | +€10,064 | +35.0% |
| Other amounts receivable | 41 | €34 | €18 | -€16 | -47.2% |
| Current investments | 50/53 | €1,384 | €1,384 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,386 | €24,156 | -€12,229 | -33.6% |
| Total equity and liabilities | 10/49 | €814,366 | €792,608 | -€21,758 | -2.7% |
| Equity | 10/15 | €272,481 | €310,560 | +€38,079 | +14.0% |
| Contributions | 10/11 | €98,700 | €98,700 | = | 0.0% |
| Reserves | 13 | €90,264 | €128,344 | +€38,079 | +42.2% |
| Non-distributable reserves | 130/1 | €9,870 | €9,870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,870 | €9,870 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €76,394 | €114,474 | +€38,079 | +49.8% |
| Profit (loss) carried forward | 14 | €83,517 | €83,517 | = | 0.0% |
| Amounts payable | 17/49 | €541,885 | €482,048 | -€59,837 | -11.0% |
| Amounts payable after more than one year | 17 | €372,377 | €330,264 | -€42,113 | -11.3% |
| Financial debts | 170/4 | €350,977 | €308,864 | -€42,113 | -12.0% |
| Other amounts payable | 178/9 | €21,400 | €21,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €168,809 | €151,086 | -€17,724 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €38,120 | €44,240 | +€6,120 | +16.1% |
| Trade debts | 44 | €27,615 | €7,226 | -€20,389 | -73.8% |
| Suppliers | 440/4 | €27,615 | €7,226 | -€20,389 | -73.8% |
| Taxes, remuneration and social security | 45 | €18,718 | €28,817 | +€10,099 | +54.0% |
| Taxes | 450/3 | €15,618 | €25,717 | +€10,099 | +64.7% |
| Remuneration and social security | 454/9 | €3,100 | €3,100 | = | 0.0% |
| Other amounts payable | 47/48 | €84,357 | €70,803 | -€13,554 | -16.1% |
| Accrued charges and deferred income | 492/3 | €699 | €699 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,348 | €29,179 | -€2,169 | -6.9% |
| Other operating charges | 640/8 | €4,499 | €5,912 | +€1,413 | +31.4% |
| Gross operating margin | 9900 | €100,760 | €107,139 | +€6,379 | +6.3% |
| Operating profit (loss) | 9901 | €64,912 | €72,047 | +€7,135 | +11.0% |
| Financial income | 75/76B | €166 | €220 | +€54 | +32.5% |
| Recurring financial income | 75 | €166 | €220 | +€54 | +32.5% |
| Financial charges | 65/66B | €11,788 | €15,695 | +€3,907 | +33.1% |
| Recurring financial charges | 65 | €11,788 | €15,695 | +€3,907 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €53,290 | €56,572 | +€3,282 | +6.2% |
| Income taxes | 67/77 | €12,314 | €18,492 | +€6,179 | +50.2% |
| Profit (loss) for the period | 9904 | €40,976 | €38,079 | -€2,897 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,976 | €38,079 | -€2,897 | -7.1% |
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 21 October 2026 via checked.be.