MILEX: 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.
MILEX
Largest movements
- Tangible fixed assets -€79,398
down €79,398 (-10.9%), from €729,285 to €649,887
- Cash -€48,802
down €48,802 (-54.3%), from €89,851 to €41,049
mainly Debts after one year (-€92,111) and Accrued charges and deferred income (-€68,532)
- Debts after one year -€92,111
down €92,111 (-9.0%), from €1.0m to €929,101
- Profit (loss) carried forward +€87,340
up €87,340 (+11.4%), from €766,080 to €853,420
- Accrued charges and deferred income -€68,532
no longer reported in 2025 (was €68,532)
- Gross operating margin +€59,141
up €59,141 (+130.2%), from €45,408 to €104,548
- Financial charges -€37,737
down €37,737 (-78.1%), from €48,332 to €10,595
- Financial income +€24,625
up €24,625 (+36.2%), from €68,001 to €92,627
- Taxes +€5,513
up €5,513 (+18.5%), from €29,833 to €35,347
- Other operating charges -€5,258
down €5,258 (-26.2%), from €20,105 to €14,847
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 | €3,052,763 | €2,924,564 | -€128,200 | -4.2% |
| Fixed assets | 21/28 | €2,912,913 | €2,833,515 | -€79,398 | -2.7% |
| Tangible fixed assets | 22/27 | €729,285 | €649,887 | -€79,398 | -10.9% |
| Land and buildings | 22 | €729,285 | €649,887 | -€79,398 | -10.9% |
| Financial fixed assets | 28 | €2,183,628 | €2,183,628 | = | 0.0% |
| Current assets | 29/58 | €139,851 | €91,049 | -€48,802 | -34.9% |
| Amounts receivable within one year | 40/41 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 41 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €89,851 | €41,049 | -€48,802 | -54.3% |
| Total equity and liabilities | 10/49 | €3,052,763 | €2,924,564 | -€128,200 | -4.2% |
| Equity | 10/15 | €1,726,219 | €1,793,524 | +€67,306 | +3.9% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €160,139 | €140,104 | -€20,035 | -12.5% |
| Non-distributable reserves | 130/1 | €80,000 | €80,000 | = | 0.0% |
| Legal reserve | 130 | €80,000 | €80,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €80,139 | €60,104 | -€20,035 | -25.0% |
| Profit (loss) carried forward | 14 | €766,080 | €853,420 | +€87,340 | +11.4% |
| Provisions and deferred taxes | 16 | €41,265 | €30,949 | -€10,316 | -25.0% |
| Deferred taxes | 168 | €41,265 | €30,949 | -€10,316 | -25.0% |
| Amounts payable | 17/49 | €1,285,279 | €1,100,090 | -€185,189 | -14.4% |
| Amounts payable after more than one year | 17 | €1,021,211 | €929,101 | -€92,111 | -9.0% |
| Financial debts | 170/4 | €1,021,211 | €929,101 | -€92,111 | -9.0% |
| Amounts payable within one year | 42/48 | €195,536 | €170,990 | -€24,546 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €136,734 | €113,820 | -€22,914 | -16.8% |
| Other amounts payable | 47/48 | €58,802 | €57,170 | -€1,632 | -2.8% |
| Accrued charges and deferred income | 492/3 | €68,532 | - | -€68,532 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,398 | €79,398 | = | 0.0% |
| Other operating charges | 640/8 | €20,105 | €14,847 | -€5,258 | -26.2% |
| Gross operating margin | 9900 | €45,408 | €104,548 | +€59,141 | +130.2% |
| Operating profit (loss) | 9901 | -€54,095 | €10,304 | +€64,399 | |
| Financial income | 75/76B | €68,001 | €92,627 | +€24,625 | +36.2% |
| Recurring financial income | 75 | €68,001 | €92,627 | +€24,625 | +36.2% |
| Financial charges | 65/66B | €48,332 | €10,595 | -€37,737 | -78.1% |
| Recurring financial charges | 65 | €48,332 | €10,595 | -€37,737 | -78.1% |
| Profit (loss) for the period before taxes | 9903 | -€34,425 | €92,336 | +€126,761 | |
| Transfer from deferred taxes | 780 | €10,316 | €10,316 | = | 0.0% |
| Income taxes | 67/77 | €29,833 | €35,347 | +€5,513 | +18.5% |
| Profit (loss) for the period | 9904 | -€53,942 | €67,306 | +€121,248 | |
| Transfer from tax-exempt reserves | 789 | €20,035 | €20,035 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,907 | €87,340 | +€121,248 |
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 8 October 2026 via checked.be.