MILIVA: 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.
MILIVA
Largest movements
- Receivables after one year -€170,000
down €170,000 (-100%), from €170,000 to €0
- Cash -€117,634
down €117,634 (-67.5%), from €174,177 to €56,543
mainly Contributions, distributions and other (-€390,000) and Receivables within one year (-€54,030)
- Receivables within one year +€54,030
up €54,030 (+69.3%), from €78,000 to €132,030
- Reserves -€263,000
down €263,000 (-58.3%), from €451,000 to €188,000
- Tax, wage and social debts +€15,271
up €15,271 (+411%), from €3,719 to €18,990
- Trade debts +€7,323
up €7,323 (+518%), from €1,415 to €8,738
- Gross operating margin +€94,969
up €94,969 (+104%), from €91,179 to €186,149
- Taxes +€21,471
up €21,471 (+132%), from €16,298 to €37,769
- Other operating charges +€3,752
up €3,752 (+743%), from €505 to €4,258
- Financial charges +€2,301
up €2,301 (+28.6%), from €8,033 to €10,334
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 | €585,206 | €345,359 | -€239,847 | -41.0% |
| Fixed assets | 21/28 | €159,904 | €155,661 | -€4,243 | -2.7% |
| Tangible fixed assets | 22/27 | €119,904 | €115,661 | -€4,243 | -3.5% |
| Land and buildings | 22 | €119,904 | €113,274 | -€6,630 | -5.5% |
| Furniture and vehicles | 24 | - | €2,387 | +€2,387 | |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €425,302 | €189,698 | -€235,604 | -55.4% |
| Amounts receivable after more than one year | 29 | €170,000 | €0 | -€170,000 | -100% |
| Other amounts receivable | 291 | €170,000 | €0 | -€170,000 | -100% |
| Amounts receivable within one year | 40/41 | €78,000 | €132,030 | +€54,030 | +69.3% |
| Trade receivables | 40 | €78,000 | €132,030 | +€54,030 | +69.3% |
| Cash at bank and in hand | 54/58 | €174,177 | €56,543 | -€117,634 | -67.5% |
| Deferred charges and accrued income | 490/1 | €3,125 | €1,125 | -€2,000 | -64.0% |
| Total equity and liabilities | 10/49 | €585,206 | €345,359 | -€239,847 | -41.0% |
| Equity | 10/15 | €453,427 | €190,457 | -€262,970 | -58.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €451,000 | €188,000 | -€263,000 | -58.3% |
| Distributable reserves | 133 | €451,000 | €188,000 | -€263,000 | -58.3% |
| Profit (loss) carried forward | 14 | €427 | €457 | +€30 | +7.0% |
| Amounts payable | 17/49 | €131,779 | €154,902 | +€23,123 | +17.5% |
| Amounts payable after more than one year | 17 | €120,150 | €115,370 | -€4,780 | -4.0% |
| Financial debts | 170/4 | €120,150 | €115,370 | -€4,780 | -4.0% |
| Amounts payable within one year | 42/48 | €11,629 | €39,532 | +€27,903 | +240% |
| Current portion of amounts payable after more than one year | 42 | €4,573 | €4,780 | +€207 | +4.5% |
| Trade debts | 44 | €1,415 | €8,738 | +€7,323 | +518% |
| Suppliers | 440/4 | €1,415 | €8,738 | +€7,323 | +518% |
| Taxes, remuneration and social security | 45 | €3,719 | €18,990 | +€15,271 | +411% |
| Taxes | 450/3 | €3,719 | €18,990 | +€15,271 | +411% |
| Other amounts payable | 47/48 | €1,922 | €7,025 | +€5,103 | +265% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,630 | €7,052 | +€422 | +6.4% |
| Other operating charges | 640/8 | €505 | €4,258 | +€3,752 | +743% |
| Gross operating margin | 9900 | €91,179 | €186,149 | +€94,969 | +104% |
| Operating profit (loss) | 9901 | €84,044 | €174,839 | +€90,795 | +108% |
| Financial income | 75/76B | €1,700 | €293 | -€1,407 | -82.7% |
| Recurring financial income | 75 | €1,700 | €293 | -€1,407 | -82.7% |
| Financial charges | 65/66B | €8,033 | €10,334 | +€2,301 | +28.6% |
| Recurring financial charges | 65 | €8,033 | €10,334 | +€2,301 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €77,711 | €164,799 | +€87,088 | +112% |
| Income taxes | 67/77 | €16,298 | €37,769 | +€21,471 | +132% |
| Profit (loss) for the period | 9904 | €61,414 | €127,030 | +€65,616 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €61,414 | €127,030 | +€65,616 | +107% |
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 19 October 2026 via checked.be.