MILIEM: 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.
MILIEM
Largest movements
- Intangible fixed assets +€68,753
new in 2025: €68,753
- Stocks and contracts -€20,854
down €20,854 (-41.7%), from €50,050 to €29,196
- Tangible fixed assets -€14,520
down €14,520 (-27.8%), from €52,159 to €37,639
of which Furniture and vehicles: -€14,623
- Receivables within one year +€11,415
new in 2025: €11,415
- Cash +€4,604
new in 2025: €4,604
mainly Other debts (+€121,749) and Depreciation (+€24,018)
- Other debts +€121,749
up €121,749 (+178%), from €68,294 to €190,043
- Tax, wage and social debts -€80,293
down €80,293 (-84.1%), from €95,458 to €15,165
of which Taxes: -€49,803
- Profit (loss) carried forward +€23,128
up €23,128 (+26.6%), from -€86,930 to -€63,802
- Trade debts -€10,782
down €10,782 (-33.4%), from €32,287 to €21,505
- Gross operating margin +€96,123
up €96,123, from -€24,869 to €71,254
- Depreciation +€24,018
new in 2025: €24,018
- Staff costs +€20,632
up €20,632 (+4,936%), from €418 to €21,050
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 | €109,109 | €162,911 | +€53,802 | +49.3% |
| Fixed assets | 21/28 | €59,059 | €113,292 | +€54,233 | +91.8% |
| Intangible fixed assets | 21 | - | €68,753 | +€68,753 | |
| Tangible fixed assets | 22/27 | €52,159 | €37,639 | -€14,520 | -27.8% |
| Plant, machinery and equipment | 23 | €5,817 | €5,919 | +€102 | +1.8% |
| Furniture and vehicles | 24 | €46,342 | €31,719 | -€14,623 | -31.6% |
| Financial fixed assets | 28 | €6,900 | €6,900 | = | 0.0% |
| Current assets | 29/58 | €50,050 | €49,619 | -€431 | -0.9% |
| Stocks and contracts in progress | 3 | €50,050 | €29,196 | -€20,854 | -41.7% |
| Stocks | 30/36 | €50,050 | €29,196 | -€20,854 | -41.7% |
| Amounts receivable within one year | 40/41 | - | €11,415 | +€11,415 | |
| Trade receivables | 40 | - | €11,415 | +€11,415 | |
| Cash at bank and in hand | 54/58 | - | €4,604 | +€4,604 | |
| Deferred charges and accrued income | 490/1 | - | €4,404 | +€4,404 | |
| Total equity and liabilities | 10/49 | €109,109 | €162,911 | +€53,802 | +49.3% |
| Equity | 10/15 | -€86,930 | -€63,802 | +€23,128 | +26.6% |
| Profit (loss) carried forward | 14 | -€86,930 | -€63,802 | +€23,128 | +26.6% |
| Amounts payable | 17/49 | €196,039 | €226,713 | +€30,674 | +15.6% |
| Amounts payable within one year | 42/48 | €196,039 | €226,713 | +€30,674 | +15.6% |
| Trade debts | 44 | €32,287 | €21,505 | -€10,782 | -33.4% |
| Suppliers | 440/4 | €32,287 | €21,505 | -€10,782 | -33.4% |
| Taxes, remuneration and social security | 45 | €95,458 | €15,165 | -€80,293 | -84.1% |
| Taxes | 450/3 | €60,831 | €11,028 | -€49,803 | -81.9% |
| Remuneration and social security | 454/9 | €34,627 | €4,137 | -€30,490 | -88.1% |
| Other amounts payable | 47/48 | €68,294 | €190,043 | +€121,749 | +178% |
| Remuneration, social security and pensions | 62 | €418 | €21,050 | +€20,632 | +4,936% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €24,018 | +€24,018 | |
| Other operating charges | 640/8 | €2,490 | €2,781 | +€291 | +11.7% |
| Gross operating margin | 9900 | -€24,869 | €71,254 | +€96,123 | |
| Operating profit (loss) | 9901 | -€27,777 | €23,404 | +€51,181 | |
| Financial income | 75/76B | - | €31 | +€31 | |
| Recurring financial income | 75 | - | €31 | +€31 | |
| Financial charges | 65/66B | - | €308 | +€308 | |
| Recurring financial charges | 65 | - | €308 | +€308 | |
| Profit (loss) for the period before taxes | 9903 | -€27,777 | €23,128 | +€50,905 | |
| Profit (loss) for the period | 9904 | -€27,777 | €23,128 | +€50,905 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,777 | €23,128 | +€50,905 |
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 16 October 2026 via checked.be.