MILOCON: 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.
MILOCON
Largest movements
- Stocks and contracts +€111,250
new in 2025: €111,250
- Receivables within one year -€91,303
down €91,303 (-16.3%), from €560,996 to €469,693
of which Trade receivables: -€332,504
- Cash -€90,182
down €90,182 (-45.1%), from €200,087 to €109,905
mainly Stocks and contracts (-€111,250) and Net result for the year (-€37,622)
- Deferred charges and accrued income +€21,001
up €21,001 (+476.9%), from €4,404 to €25,405
- Profit (loss) carried forward -€37,622
down €37,622 (-3.7%), from €1.0m to €982,766
- Trade debts +€17,837
new in 2025: €17,837
- Gross operating margin -€403,490
down €403,490, from €381,951 to -€21,539
- Taxes -€83,542
down €83,542 (-99.7%), from €83,811 to €269
- Depreciation -€14,613
down €14,613 (-85.9%), from €17,005 to €2,392
- Staff costs -€4,178
down €4,178 (-26.2%), from €15,970 to €11,792
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 | €1,074,917 | €1,045,636 | -€29,281 | -2.7% |
| Fixed assets | 21/28 | €309,430 | €319,383 | +€9,953 | +3.2% |
| Tangible fixed assets | 22/27 | €5,555 | €15,508 | +€9,953 | +179.2% |
| Land and buildings | 22 | €174 | - | -€174 | |
| Plant, machinery and equipment | 23 | €3,957 | €10,120 | +€6,163 | +155.7% |
| Furniture and vehicles | 24 | €1,424 | €5,388 | +€3,964 | +278.4% |
| Financial fixed assets | 28 | €303,875 | €303,875 | = | 0.0% |
| Current assets | 29/58 | €765,487 | €726,253 | -€39,234 | -5.1% |
| Stocks and contracts in progress | 3 | - | €111,250 | +€111,250 | |
| Contracts in progress | 37 | - | €111,250 | +€111,250 | |
| Amounts receivable within one year | 40/41 | €560,996 | €469,693 | -€91,303 | -16.3% |
| Trade receivables | 40 | €387,295 | €54,791 | -€332,504 | -85.9% |
| Other amounts receivable | 41 | €173,701 | €414,902 | +€241,201 | +138.9% |
| Current investments | 50/53 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €200,087 | €109,905 | -€90,182 | -45.1% |
| Deferred charges and accrued income | 490/1 | €4,404 | €25,405 | +€21,001 | +476.9% |
| Total equity and liabilities | 10/49 | €1,074,917 | €1,045,636 | -€29,281 | -2.7% |
| Equity | 10/15 | €1,040,848 | €1,003,226 | -€37,622 | -3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,020,388 | €982,766 | -€37,622 | -3.7% |
| Provisions and deferred taxes | 16 | €2,912 | €0 | -€2,912 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €2,912 | €0 | -€2,912 | -100.0% |
| Pensions and similar obligations | 160 | €2,912 | €0 | -€2,912 | -100.0% |
| Amounts payable | 17/49 | €31,157 | €42,410 | +€11,253 | +36.1% |
| Amounts payable within one year | 42/48 | €31,157 | €42,410 | +€11,253 | +36.1% |
| Financial debts | 43 | €80 | - | -€80 | |
| Credit institutions | 430/8 | €80 | - | -€80 | |
| Trade debts | 44 | - | €17,837 | +€17,837 | |
| Suppliers | 440/4 | - | €17,837 | +€17,837 | |
| Taxes, remuneration and social security | 45 | €8,811 | €234 | -€8,577 | -97.3% |
| Taxes | 450/3 | €8,811 | €234 | -€8,577 | -97.3% |
| Other amounts payable | 47/48 | €22,266 | €24,339 | +€2,073 | +9.3% |
| Remuneration, social security and pensions | 62 | €15,970 | €11,792 | -€4,178 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,005 | €2,392 | -€14,613 | -85.9% |
| Other operating charges | 640/8 | €496 | €2,030 | +€1,534 | +309.3% |
| Gross operating margin | 9900 | €381,951 | -€21,539 | -€403,490 | |
| Operating profit (loss) | 9901 | €348,480 | -€37,753 | -€386,233 | |
| Financial income | 75/76B | €678 | €711 | +€33 | +4.9% |
| Recurring financial income | 75 | €678 | €711 | +€33 | +4.9% |
| Financial charges | 65/66B | €444 | €311 | -€133 | -30.0% |
| Recurring financial charges | 65 | €444 | €311 | -€133 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €348,714 | -€37,353 | -€386,067 | |
| Income taxes | 67/77 | €83,811 | €269 | -€83,542 | -99.7% |
| Profit (loss) for the period | 9904 | €264,903 | -€37,622 | -€302,525 | |
| Profit (loss) for the period to be appropriated | 9905 | €264,903 | -€37,622 | -€302,525 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.