MILHEM: 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.
MILHEM
Largest movements
- Stocks and contracts +€239,710
up €239,710 (+225%), from €106,342 to €346,053
- Receivables within one year -€12,949
down €12,949 (-11.8%), from €109,856 to €96,908
of which Other amounts receivable: -€69,119
- Short-term financial debts +€224,000
new in 2024: €224,000
- Profit (loss) carried forward -€54,428
down €54,428 (-80.8%), from €67,324 to €12,895
- Other debts +€36,562
up €36,562 (+43.4%), from €84,318 to €120,880
- Debts after one year +€17,841
new in 2024: €17,841
- Trade debts +€9,061
up €9,061 (+12.3%), from €73,624 to €82,685
- Gross operating margin -€115,603
down €115,603, from €78,283 to -€37,320
- Taxes -€12,895
no longer reported in 2024 (was €12,895)
- Depreciation -€1,456
down €1,456 (-63.2%), from €2,304 to €848
- Other operating charges -€1,290
down €1,290 (-45.2%), from €2,856 to €1,566
- Financial charges +€1,196
up €1,196 (+8.9%), from €13,498 to €14,695
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €262,450 | €488,740 | +€226,290 | +86.2% |
| Fixed assets | 21/28 | €848 | €0 | -€848 | -100% |
| Tangible fixed assets | 22/27 | €848 | €0 | -€848 | -100% |
| Furniture and vehicles | 24 | €848 | €0 | -€848 | -100% |
| Current assets | 29/58 | €261,603 | €488,740 | +€227,137 | +86.8% |
| Stocks and contracts in progress | 3 | €106,342 | €346,053 | +€239,710 | +225% |
| Stocks | 30/36 | €106,342 | €346,053 | +€239,710 | +225% |
| Amounts receivable within one year | 40/41 | €109,856 | €96,908 | -€12,949 | -11.8% |
| Trade receivables | 40 | €38,847 | €95,017 | +€56,171 | +145% |
| Other amounts receivable | 41 | €71,010 | €1,891 | -€69,119 | -97.3% |
| Cash at bank and in hand | 54/58 | €44,379 | €45,780 | +€1,401 | +3.2% |
| Deferred charges and accrued income | 490/1 | €1,025 | - | -€1,025 | |
| Total equity and liabilities | 10/49 | €262,450 | €488,740 | +€226,290 | +86.2% |
| Equity | 10/15 | €86,384 | €31,955 | -€54,428 | -63.0% |
| Contributions | 10/11 | €17,900 | €17,900 | = | 0.0% |
| Contributions outside capital | 11 | €17,900 | - | -€17,900 | |
| Other | 1109/19 | €17,900 | - | -€17,900 | |
| Reserves | 13 | €1,160 | €1,160 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,160 | - | -€1,160 | |
| Reserves not available under the articles | 1311 | €1,160 | - | -€1,160 | |
| Distributable reserves | 133 | - | €1,160 | +€1,160 | |
| Profit (loss) carried forward | 14 | €67,324 | €12,895 | -€54,428 | -80.8% |
| Amounts payable | 17/49 | €176,067 | €456,785 | +€280,718 | +159% |
| Amounts payable after more than one year | 17 | - | €17,841 | +€17,841 | |
| Financial debts | 170/4 | - | €17,841 | +€17,841 | |
| Amounts payable within one year | 42/48 | €176,067 | €438,944 | +€262,877 | +149% |
| Current portion of amounts payable after more than one year | 42 | €4,230 | €5,300 | +€1,070 | +25.3% |
| Financial debts | 43 | - | €224,000 | +€224,000 | |
| Other loans | 439 | - | €224,000 | +€224,000 | |
| Trade debts | 44 | €73,624 | €82,685 | +€9,061 | +12.3% |
| Suppliers | 440/4 | €73,624 | €82,685 | +€9,061 | +12.3% |
| Advances received on contracts in progress | 46 | €1,000 | - | -€1,000 | |
| Taxes, remuneration and social security | 45 | €12,895 | €6,079 | -€6,816 | -52.9% |
| Taxes | 450/3 | €12,895 | €6,079 | -€6,816 | -52.9% |
| Other amounts payable | 47/48 | €84,318 | €120,880 | +€36,562 | +43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,304 | €848 | -€1,456 | -63.2% |
| Other operating charges | 640/8 | €2,856 | €1,566 | -€1,290 | -45.2% |
| Gross operating margin | 9900 | €78,283 | -€37,320 | -€115,603 | |
| Operating profit (loss) | 9901 | €73,123 | -€39,734 | -€112,856 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €13,498 | €14,695 | +€1,196 | +8.9% |
| Recurring financial charges | 65 | €13,498 | €14,695 | +€1,196 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €59,624 | -€54,428 | -€114,052 | |
| Income taxes | 67/77 | €12,895 | - | -€12,895 | |
| Profit (loss) for the period | 9904 | €46,729 | -€54,428 | -€101,158 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,729 | -€54,428 | -€101,158 |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.