MILK: 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.
MILK
Largest movements
- Receivables within one year +€123,904
up €123,904 (+505%), from €24,550 to €148,454
of which Trade receivables: +€124,642
- Stocks and contracts -€40,714
down €40,714 (-13.2%), from €308,482 to €267,769
- Tangible fixed assets -€36,595
down €36,595 (-21.8%), from €167,499 to €130,904
of which Plant, machinery and equipment: -€19,825
- Cash -€17,170
down €17,170 (-78.2%), from €21,962 to €4,793
mainly Net result for the year (-€145,672) and Receivables within one year (-€123,904)
- Profit (loss) carried forward -€145,837
down €145,837 (-32.2%), from -€453,257 to -€599,094
- Trade debts +€83,698
up €83,698 (+169%), from €49,639 to €133,337
- Other debts +€54,552
up €54,552 (+7.3%), from €750,849 to €805,401
- Tax, wage and social debts +€37,362
up €37,362 (+147%), from €25,499 to €62,861
of which Taxes: +€33,504
- Short-term financial debts +€17,134
new in 2024: €17,134
- Gross operating margin -€39,102
down €39,102 (-30.2%), from €129,673 to €90,571
- Financial charges -€26,701
down €26,701 (-81.3%), from €32,829 to €6,128
- Staff costs -€6,466
down €6,466 (-3.4%), from €188,713 to €182,248
- Other operating charges +€2,793
up €2,793 (+32.4%), from €8,616 to €11,409
- Depreciation -€2,069
down €2,069 (-5.4%), from €38,664 to €36,595
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €648,296 | €677,745 | +€29,449 | +4.5% |
| Fixed assets | 21/28 | €248,009 | €211,414 | -€36,595 | -14.8% |
| Tangible fixed assets | 22/27 | €167,499 | €130,904 | -€36,595 | -21.8% |
| Plant, machinery and equipment | 23 | €77,741 | €57,916 | -€19,825 | -25.5% |
| Furniture and vehicles | 24 | €2,219 | €593 | -€1,626 | -73.3% |
| Other tangible fixed assets | 26 | €87,539 | €72,395 | -€15,144 | -17.3% |
| Financial fixed assets | 28 | €80,510 | €80,510 | = | 0.0% |
| Current assets | 29/58 | €400,287 | €466,331 | +€66,044 | +16.5% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €308,482 | €267,769 | -€40,714 | -13.2% |
| Stocks | 30/36 | €308,482 | €267,769 | -€40,714 | -13.2% |
| Amounts receivable within one year | 40/41 | €24,550 | €148,454 | +€123,904 | +505% |
| Trade receivables | 40 | €10,401 | €135,043 | +€124,642 | +1,198% |
| Other amounts receivable | 41 | €14,149 | €13,412 | -€738 | -5.2% |
| Cash at bank and in hand | 54/58 | €21,962 | €4,793 | -€17,170 | -78.2% |
| Deferred charges and accrued income | 490/1 | €292 | €315 | +€23 | +7.7% |
| Total equity and liabilities | 10/49 | €648,296 | €677,745 | +€29,449 | +4.5% |
| Equity | 10/15 | -€214,047 | -€359,884 | -€145,837 | -68.1% |
| Contributions | 10/11 | €220,460 | €220,460 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€453,257 | -€599,094 | -€145,837 | -32.2% |
| Amounts payable | 17/49 | €862,343 | €1,037,629 | +€175,286 | +20.3% |
| Amounts payable after more than one year | 17 | €18,114 | €4,018 | -€14,096 | -77.8% |
| Financial debts | 170/4 | €18,114 | €4,018 | -€14,096 | -77.8% |
| Amounts payable within one year | 42/48 | €844,230 | €1,033,611 | +€189,382 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €18,242 | €14,877 | -€3,365 | -18.4% |
| Financial debts | 43 | - | €17,134 | +€17,134 | |
| Credit institutions | 430/8 | - | €17,134 | +€17,134 | |
| Trade debts | 44 | €49,639 | €133,337 | +€83,698 | +169% |
| Suppliers | 440/4 | €49,639 | €133,337 | +€83,698 | +169% |
| Taxes, remuneration and social security | 45 | €25,499 | €62,861 | +€37,362 | +147% |
| Taxes | 450/3 | €15,828 | €49,332 | +€33,504 | +212% |
| Remuneration and social security | 454/9 | €9,671 | €13,530 | +€3,858 | +39.9% |
| Other amounts payable | 47/48 | €750,849 | €805,401 | +€54,552 | +7.3% |
| Remuneration, social security and pensions | 62 | €188,713 | €182,248 | -€6,466 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,664 | €36,595 | -€2,069 | -5.4% |
| Other operating charges | 640/8 | €8,616 | €11,409 | +€2,793 | +32.4% |
| Gross operating margin | 9900 | €129,673 | €90,571 | -€39,102 | -30.2% |
| Operating profit (loss) | 9901 | -€106,320 | -€139,681 | -€33,360 | -31.4% |
| Financial income | 75/76B | €133 | €268 | +€136 | +102% |
| Recurring financial income | 75 | €133 | €268 | +€136 | +102% |
| Financial charges | 65/66B | €32,829 | €6,128 | -€26,701 | -81.3% |
| Recurring financial charges | 65 | €32,829 | €6,128 | -€26,701 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | -€139,017 | -€145,540 | -€6,523 | -4.7% |
| Income taxes | 67/77 | €132 | €132 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€139,149 | -€145,672 | -€6,523 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€139,149 | -€145,672 | -€6,523 | -4.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.