MILIASI: what changed
MILIASI
Largest movements
- Stocks and contracts -€22,191
down €22,191 (-30.0%), from €74,092 to €51,901
- Receivables within one year +€17,736
up €17,736 (+284%), from €6,249 to €23,984
of which Trade receivables: +€19,181
- Cash -€4,682
down €4,682 (-24.4%), from €19,155 to €14,473
mainly Other debts (-€24,089) and Receivables within one year (-€17,736)
- Deferred charges and accrued income +€1,981
up €1,981 (+96.8%), from €2,046 to €4,027
- Other debts -€24,089
down €24,089 (-47.4%), from €50,769 to €26,680
- Trade debts +€20,363
up €20,363 (+24.4%), from €83,596 to €103,959
- Tax, wage and social debts +€4,151
up €4,151 (+21.4%), from €19,405 to €23,556
of which Remuneration and social security: +€2,879
- Accrued charges and deferred income -€3,521
down €3,521 (-100%), from €3,521 to €0
- Current portion of long-term debt -€3,016
down €3,016 (-100%), from €3,016 to €0
- Staff costs +€27,842
up €27,842 (+13.2%), from €210,290 to €238,133
- Gross operating margin -€18,150
down €18,150 (-7.0%), from €258,990 to €240,840
- Financial charges -€4,848
down €4,848 (-70.6%), from €6,868 to €2,021
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €102,212 | €94,807 | -€7,405 | -7.2% |
| Fixed assets | 21/28 | €670 | €422 | -€248 | -37.0% |
| Tangible fixed assets | 22/27 | €670 | €422 | -€248 | -37.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €670 | €422 | -€248 | -37.0% |
| Current assets | 29/58 | €101,542 | €94,385 | -€7,157 | -7.0% |
| Stocks and contracts in progress | 3 | €74,092 | €51,901 | -€22,191 | -30.0% |
| Stocks | 30/36 | €74,092 | €51,901 | -€22,191 | -30.0% |
| Amounts receivable within one year | 40/41 | €6,249 | €23,984 | +€17,736 | +284% |
| Trade receivables | 40 | €4,803 | €23,984 | +€19,181 | +399% |
| Other amounts receivable | 41 | €1,446 | €0 | -€1,446 | -100% |
| Cash at bank and in hand | 54/58 | €19,155 | €14,473 | -€4,682 | -24.4% |
| Deferred charges and accrued income | 490/1 | €2,046 | €4,027 | +€1,981 | +96.8% |
| Total equity and liabilities | 10/49 | €102,212 | €94,807 | -€7,405 | -7.2% |
| Equity | 10/15 | -€58,096 | -€59,389 | -€1,293 | -2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,696 | -€77,989 | -€1,293 | -1.7% |
| Amounts payable | 17/49 | €160,308 | €154,196 | -€6,112 | -3.8% |
| Amounts payable within one year | 42/48 | €156,787 | €154,196 | -€2,591 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €3,016 | €0 | -€3,016 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €83,596 | €103,959 | +€20,363 | +24.4% |
| Suppliers | 440/4 | €83,596 | €103,959 | +€20,363 | +24.4% |
| Taxes, remuneration and social security | 45 | €19,405 | €23,556 | +€4,151 | +21.4% |
| Taxes | 450/3 | €252 | €1,525 | +€1,273 | +505% |
| Remuneration and social security | 454/9 | €19,153 | €22,032 | +€2,879 | +15.0% |
| Other amounts payable | 47/48 | €50,769 | €26,680 | -€24,089 | -47.4% |
| Accrued charges and deferred income | 492/3 | €3,521 | €0 | -€3,521 | -100% |
| Remuneration, social security and pensions | 62 | €210,290 | €238,133 | +€27,842 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73 | €248 | +€175 | +238% |
| Other operating charges | 640/8 | €966 | €1,733 | +€767 | +79.4% |
| Gross operating margin | 9900 | €258,990 | €240,840 | -€18,150 | -7.0% |
| Operating profit (loss) | 9901 | €47,661 | €727 | -€46,933 | -98.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €6,868 | €2,021 | -€4,848 | -70.6% |
| Recurring financial charges | 65 | €6,868 | €2,021 | -€4,848 | -70.6% |
| Profit (loss) for the period before taxes | 9903 | €40,792 | -€1,293 | -€42,085 | |
| Profit (loss) for the period | 9904 | €40,792 | -€1,293 | -€42,085 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,792 | -€1,293 | -€42,085 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.