MILPEN: what changed
Two fiscal 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.
MILPEN
Largest movements
- Tangible fixed assets -€35,940
down €35,940 (-5.7%), from €628,483 to €592,543
- Cash -€32,709
down €32,709 (-48.5%), from €67,433 to €34,724
mainly Other debts (-€46,273) and Net result for the year (-€23,330)
- Other debts -€46,273
down €46,273 (-7.2%), from €638,509 to €592,236
- Profit (loss) carried forward -€23,330
down €23,330 (-6.0%), from -€391,369 to -€414,700
- Gross operating margin +€8,189
up €8,189 (+55.7%), from €14,708 to €22,897
- Other operating charges +€1,602
up €1,602 (+20.1%), from €7,953 to €9,555
- Depreciation -€1,412
down €1,412 (-3.8%), from €37,352 to €35,940
- Financial charges +€340
up €340 (+86.5%), from €393 to €732
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.
Cash bridge derived
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 | €699,765 | €630,010 | -€69,755 | -10.0% |
| Fixed assets | 21/28 | €628,483 | €592,543 | -€35,940 | -5.7% |
| Tangible fixed assets | 22/27 | €628,483 | €592,543 | -€35,940 | -5.7% |
| Land and buildings | 22 | €628,483 | €592,543 | -€35,940 | -5.7% |
| Current assets | 29/58 | €71,283 | €37,468 | -€33,815 | -47.4% |
| Amounts receivable within one year | 40/41 | €1,123 | €798 | -€325 | -29.0% |
| Trade receivables | 40 | €1,123 | €798 | -€325 | -29.0% |
| Cash at bank and in hand | 54/58 | €67,433 | €34,724 | -€32,709 | -48.5% |
| Deferred charges and accrued income | 490/1 | €2,727 | €1,946 | -€781 | -28.6% |
| Total equity and liabilities | 10/49 | €699,765 | €630,010 | -€69,755 | -10.0% |
| Equity | 10/15 | €58,631 | €35,300 | -€23,330 | -39.8% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€391,369 | -€414,700 | -€23,330 | -6.0% |
| Amounts payable | 17/49 | €641,135 | €594,710 | -€46,425 | -7.2% |
| Amounts payable within one year | 42/48 | €641,135 | €594,710 | -€46,425 | -7.2% |
| Trade debts | 44 | €2,625 | €2,474 | -€151 | -5.8% |
| Suppliers | 440/4 | €2,625 | €2,474 | -€151 | -5.8% |
| Other amounts payable | 47/48 | €638,509 | €592,236 | -€46,273 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,352 | €35,940 | -€1,412 | -3.8% |
| Other operating charges | 640/8 | €7,953 | €9,555 | +€1,602 | +20.1% |
| Gross operating margin | 9900 | €14,708 | €22,897 | +€8,189 | +55.7% |
| Operating profit (loss) | 9901 | -€30,597 | -€22,598 | +€7,998 | +26.1% |
| Financial charges | 65/66B | €393 | €732 | +€340 | +86.5% |
| Recurring financial charges | 65 | €393 | €732 | +€340 | +86.5% |
| Profit (loss) for the period before taxes | 9903 | -€30,989 | -€23,330 | +€7,659 | +24.7% |
| Profit (loss) for the period | 9904 | -€30,989 | -€23,330 | +€7,659 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,989 | -€23,330 | +€7,659 | +24.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.