MILISE: 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.
MILISE
Largest movements
- Cash -€14,857
down €14,857 (-35.4%), from €41,927 to €27,070
mainly Net result for the year (-€12,201) and Debts after one year (-€6,216)
- Tangible fixed assets -€8,189
down €8,189 (-16.1%), from €50,822 to €42,632
- Receivables within one year +€3,011
up €3,011 (+75.2%), from €4,004 to €7,015
of which Trade receivables: +€3,011
- Stocks and contracts +€2,538
up €2,538 (+35.7%), from €7,112 to €9,650
- Profit (loss) carried forward -€12,201
down €12,201 (-201%), from -€6,079 to -€18,280
- Debts after one year -€6,216
down €6,216 (-25.9%), from €24,000 to €17,784
- Tax, wage and social debts -€1,834
down €1,834 (-14.0%), from €13,137 to €11,303
of which Remuneration and social security: -€1,232
- Trade debts +€1,572
up €1,572 (+11.0%), from €14,283 to €15,854
- Current portion of long-term debt +€1,113
up €1,113 (+13.7%), from €8,119 to €9,233
- Gross operating margin -€18,682
down €18,682 (-9.9%), from €187,866 to €169,184
- Staff costs +€6,097
up €6,097 (+3.7%), from €163,841 to €169,939
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 | €105,327 | €87,386 | -€17,941 | -17.0% |
| Fixed assets | 21/28 | €50,822 | €42,632 | -€8,189 | -16.1% |
| Tangible fixed assets | 22/27 | €50,822 | €42,632 | -€8,189 | -16.1% |
| Land and buildings | 22 | €34,565 | €30,595 | -€3,970 | -11.5% |
| Plant, machinery and equipment | 23 | €14,076 | €11,422 | -€2,653 | -18.8% |
| Furniture and vehicles | 24 | €2,181 | €615 | -€1,566 | -71.8% |
| Current assets | 29/58 | €54,506 | €44,754 | -€9,752 | -17.9% |
| Stocks and contracts in progress | 3 | €7,112 | €9,650 | +€2,538 | +35.7% |
| Stocks | 30/36 | €7,112 | €9,650 | +€2,538 | +35.7% |
| Amounts receivable within one year | 40/41 | €4,004 | €7,015 | +€3,011 | +75.2% |
| Trade receivables | 40 | - | €3,011 | +€3,011 | |
| Other amounts receivable | 41 | €4,004 | €4,004 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €41,927 | €27,070 | -€14,857 | -35.4% |
| Deferred charges and accrued income | 490/1 | €1,463 | €1,019 | -€444 | -30.4% |
| Total equity and liabilities | 10/49 | €105,327 | €87,386 | -€17,941 | -17.0% |
| Equity | 10/15 | €16,535 | €4,334 | -€12,201 | -73.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,014 | €4,014 | = | 0.0% |
| Non-distributable reserves | 130/1 | €930 | €930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €930 | €930 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,084 | €3,084 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,079 | -€18,280 | -€12,201 | -201% |
| Amounts payable | 17/49 | €88,792 | €83,052 | -€5,740 | -6.5% |
| Amounts payable after more than one year | 17 | €24,000 | €17,784 | -€6,216 | -25.9% |
| Financial debts | 170/4 | €24,000 | €17,784 | -€6,216 | -25.9% |
| Amounts payable within one year | 42/48 | €62,653 | €63,129 | +€476 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €8,119 | €9,233 | +€1,113 | +13.7% |
| Trade debts | 44 | €14,283 | €15,854 | +€1,572 | +11.0% |
| Suppliers | 440/4 | €14,283 | €15,854 | +€1,572 | +11.0% |
| Taxes, remuneration and social security | 45 | €13,137 | €11,303 | -€1,834 | -14.0% |
| Taxes | 450/3 | €6,839 | €6,237 | -€602 | -8.8% |
| Remuneration and social security | 454/9 | €6,298 | €5,066 | -€1,232 | -19.6% |
| Other amounts payable | 47/48 | €27,114 | €26,739 | -€375 | -1.4% |
| Accrued charges and deferred income | 492/3 | €2,140 | €2,140 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €163,841 | €169,939 | +€6,097 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,532 | €9,329 | +€797 | +9.3% |
| Other operating charges | 640/8 | €777 | €553 | -€224 | -28.8% |
| Gross operating margin | 9900 | €187,866 | €169,184 | -€18,682 | -9.9% |
| Operating profit (loss) | 9901 | €14,714 | -€10,637 | -€25,352 | |
| Financial income | 75/76B | €83 | €48 | -€36 | -42.9% |
| Recurring financial income | 75 | €83 | €48 | -€36 | -42.9% |
| Financial charges | 65/66B | €1,360 | €1,405 | +€45 | +3.3% |
| Recurring financial charges | 65 | €1,360 | €1,405 | +€45 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €13,438 | -€11,995 | -€25,433 | |
| Income taxes | 67/77 | €159 | €206 | +€48 | +30.0% |
| Profit (loss) for the period | 9904 | €13,279 | -€12,201 | -€25,481 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,279 | -€12,201 | -€25,481 |
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 21 October 2026 via checked.be.