MILK@VICE: 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@VICE
Largest movements
- Receivables after one year +€36,058
up €36,058 (+403%), from €8,942 to €45,000
- Receivables within one year +€32,211
up €32,211 (+50.9%), from €63,226 to €95,438
of which Trade receivables: +€27,919
- Current investments -€11,206
down €11,206 (-65.1%), from €17,206 to €6,000
- Tangible fixed assets +€3,966
up €3,966 (+5.6%), from €70,303 to €74,269
of which Furniture and vehicles: +€11,547
- Cash -€3,849
down €3,849 (-4.9%), from €78,080 to €74,232
mainly Contributions, distributions and other (-€80,675) and Receivables after one year (-€36,058)
- Other debts +€32,816
up €32,816 (+37.4%), from €87,859 to €120,675
- Trade debts +€18,571
up €18,571 (+48.4%), from €38,388 to €56,960
- Current portion of long-term debt +€4,995
up €4,995 (+58.9%), from €8,488 to €13,483
- Gross operating margin -€3,717
down €3,717 (-3.0%), from €123,665 to €119,949
- Taxes -€2,425
down €2,425 (-9.4%), from €25,691 to €23,267
- Financial charges +€1,344
up €1,344 (+74.3%), from €1,810 to €3,154
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 | €238,041 | €296,825 | +€58,784 | +24.7% |
| Fixed assets | 21/28 | €70,303 | €74,269 | +€3,966 | +5.6% |
| Tangible fixed assets | 22/27 | €70,303 | €74,269 | +€3,966 | +5.6% |
| Land and buildings | 22 | €59,678 | €52,179 | -€7,498 | -12.6% |
| Plant, machinery and equipment | 23 | €2,172 | €2,090 | -€82 | -3.8% |
| Furniture and vehicles | 24 | €8,453 | €20,000 | +€11,547 | +137% |
| Current assets | 29/58 | €167,738 | €222,556 | +€54,818 | +32.7% |
| Amounts receivable after more than one year | 29 | €8,942 | €45,000 | +€36,058 | +403% |
| Other amounts receivable | 291 | €8,942 | €45,000 | +€36,058 | +403% |
| Amounts receivable within one year | 40/41 | €63,226 | €95,438 | +€32,211 | +50.9% |
| Trade receivables | 40 | €59,361 | €87,281 | +€27,919 | +47.0% |
| Other amounts receivable | 41 | €3,865 | €8,157 | +€4,292 | +111% |
| Current investments | 50/53 | €17,206 | €6,000 | -€11,206 | -65.1% |
| Cash at bank and in hand | 54/58 | €78,080 | €74,232 | -€3,849 | -4.9% |
| Deferred charges and accrued income | 490/1 | €283 | €1,887 | +€1,604 | +566% |
| Total equity and liabilities | 10/49 | €238,041 | €296,825 | +€58,784 | +24.7% |
| Equity | 10/15 | €28,600 | €28,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €209,441 | €268,225 | +€58,784 | +28.1% |
| Amounts payable after more than one year | 17 | €52,735 | €53,335 | +€601 | +1.1% |
| Financial debts | 170/4 | €52,735 | €53,335 | +€601 | +1.1% |
| Amounts payable within one year | 42/48 | €148,781 | €204,717 | +€55,936 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | €8,488 | €13,483 | +€4,995 | +58.9% |
| Trade debts | 44 | €38,388 | €56,960 | +€18,571 | +48.4% |
| Suppliers | 440/4 | €38,388 | €56,960 | +€18,571 | +48.4% |
| Taxes, remuneration and social security | 45 | €14,046 | €13,600 | -€447 | -3.2% |
| Taxes | 450/3 | €11,421 | €10,975 | -€447 | -3.9% |
| Remuneration and social security | 454/9 | €2,625 | €2,625 | = | 0.0% |
| Other amounts payable | 47/48 | €87,859 | €120,675 | +€32,816 | +37.4% |
| Accrued charges and deferred income | 492/3 | €7,925 | €10,173 | +€2,248 | +28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,764 | €11,980 | -€784 | -6.1% |
| Other operating charges | 640/8 | €1,208 | €1,355 | +€147 | +12.2% |
| Gross operating margin | 9900 | €123,665 | €119,949 | -€3,717 | -3.0% |
| Operating profit (loss) | 9901 | €109,693 | €106,614 | -€3,080 | -2.8% |
| Financial income | 75/76B | €1,699 | €482 | -€1,217 | -71.6% |
| Recurring financial income | 75 | €1,699 | €482 | -€1,217 | -71.6% |
| Financial charges | 65/66B | €1,810 | €3,154 | +€1,344 | +74.3% |
| Recurring financial charges | 65 | €1,810 | €3,154 | +€1,344 | +74.3% |
| Profit (loss) for the period before taxes | 9903 | €109,582 | €103,941 | -€5,641 | -5.1% |
| Income taxes | 67/77 | €25,691 | €23,267 | -€2,425 | -9.4% |
| Profit (loss) for the period | 9904 | €83,891 | €80,675 | -€3,216 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,891 | €80,675 | -€3,216 | -3.8% |
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 26 October 2026 via checked.be.