MILINK: 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.
MILINK
Largest movements
- Receivables within one year +€108,527
up €108,527 (+6.2%), from €1.8m to €1.9m
- Cash -€77,217
down €77,217 (-36.1%), from €213,765 to €136,548
mainly Receivables within one year (-€108,527) and Deferred charges and accrued income (-€37,882)
- Deferred charges and accrued income +€37,882
up €37,882 (+154.3%), from €24,545 to €62,427
- Profit (loss) carried forward +€58,576
up €58,576 (+2.9%), from €2.0m to €2.0m
- Gross operating margin -€24,749
down €24,749 (-21.4%), from €115,712 to €90,963
- Depreciation -€5,417
down €5,417 (-33.3%), from €16,250 to €10,833
- Taxes -€4,306
down €4,306 (-17.3%), from €24,900 to €20,594
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 | €2,166,951 | €2,225,310 | +€58,359 | +2.7% |
| Fixed assets | 21/28 | €169,485 | €158,652 | -€10,833 | -6.4% |
| Tangible fixed assets | 22/27 | €169,485 | €158,652 | -€10,833 | -6.4% |
| Land and buildings | 22 | €158,652 | €158,652 | = | 0.0% |
| Furniture and vehicles | 24 | €10,833 | - | -€10,833 | |
| Current assets | 29/58 | €1,997,466 | €2,066,658 | +€69,192 | +3.5% |
| Amounts receivable within one year | 40/41 | €1,759,156 | €1,867,683 | +€108,527 | +6.2% |
| Other amounts receivable | 41 | €1,759,156 | €1,867,683 | +€108,527 | +6.2% |
| Cash at bank and in hand | 54/58 | €213,765 | €136,548 | -€77,217 | -36.1% |
| Deferred charges and accrued income | 490/1 | €24,545 | €62,427 | +€37,882 | +154.3% |
| Total equity and liabilities | 10/49 | €2,166,951 | €2,225,310 | +€58,359 | +2.7% |
| Equity | 10/15 | €2,151,431 | €2,210,007 | +€58,576 | +2.7% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €14,874 | €14,874 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,987,821 | €2,046,397 | +€58,576 | +2.9% |
| Amounts payable | 17/49 | €15,520 | €15,303 | -€217 | -1.4% |
| Amounts payable within one year | 42/48 | €15,520 | €15,303 | -€217 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €12,500 | €7,500 | -€5,000 | -40.0% |
| Trade debts | 44 | €3,020 | €2,209 | -€811 | -26.9% |
| Suppliers | 440/4 | €3,020 | €2,209 | -€811 | -26.9% |
| Taxes, remuneration and social security | 45 | - | €5,594 | +€5,594 | |
| Taxes | 450/3 | - | €5,594 | +€5,594 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,250 | €10,833 | -€5,417 | -33.3% |
| Other operating charges | 640/8 | €16,038 | €16,541 | +€503 | +3.1% |
| Gross operating margin | 9900 | €115,712 | €90,963 | -€24,749 | -21.4% |
| Operating profit (loss) | 9901 | €83,424 | €63,589 | -€19,835 | -23.8% |
| Financial income | 75/76B | €15,298 | €16,052 | +€754 | +4.9% |
| Recurring financial income | 75 | €15,298 | €16,052 | +€754 | +4.9% |
| Financial charges | 65/66B | €1,387 | €471 | -€916 | -66.0% |
| Recurring financial charges | 65 | €1,387 | €471 | -€916 | -66.0% |
| Profit (loss) for the period before taxes | 9903 | €97,335 | €79,170 | -€18,165 | -18.7% |
| Income taxes | 67/77 | €24,900 | €20,594 | -€4,306 | -17.3% |
| Profit (loss) for the period | 9904 | €72,435 | €58,576 | -€13,859 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72,435 | €58,576 | -€13,859 | -19.1% |
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 2 October 2026 via checked.be.