MILSO: 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.
MILSO
Largest movements
- Cash +€32,818
up €32,818 (+576.2%), from €5,696 to €38,514
mainly Net result for the year (+€15,519) and Receivables within one year (+€9,585)
- Receivables within one year -€9,585
down €9,585 (-39.8%), from €24,091 to €14,506
- Reserves +€15,519
up €15,519 (+91.0%), from €17,046 to €32,565
- Trade debts +€4,474
up €4,474 (+228.4%), from €1,959 to €6,433
- Tax, wage and social debts +€3,131
up €3,131 (+63.0%), from €4,970 to €8,101
- Gross operating margin -€1,736
down €1,736 (-7.9%), from €21,979 to €20,243
- Taxes -€433
down €433 (-9.9%), from €4,388 to €3,955
- Financial charges +€271
up €271 (+172.0%), from €158 to €429
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 | €29,787 | €53,020 | +€23,233 | +78.0% |
| Current assets | 29/58 | €29,787 | €53,020 | +€23,233 | +78.0% |
| Amounts receivable within one year | 40/41 | €24,091 | €14,506 | -€9,585 | -39.8% |
| Trade receivables | 40 | €24,091 | €14,506 | -€9,585 | -39.8% |
| Cash at bank and in hand | 54/58 | €5,696 | €38,514 | +€32,818 | +576.2% |
| Total equity and liabilities | 10/49 | €29,787 | €53,020 | +€23,233 | +78.0% |
| Equity | 10/15 | €18,046 | €33,565 | +€15,519 | +86.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €17,046 | €32,565 | +€15,519 | +91.0% |
| Distributable reserves | 133 | €17,046 | €32,565 | +€15,519 | +91.0% |
| Amounts payable | 17/49 | €11,741 | €19,455 | +€7,714 | +65.7% |
| Amounts payable within one year | 42/48 | €11,741 | €19,455 | +€7,714 | +65.7% |
| Trade debts | 44 | €1,959 | €6,433 | +€4,474 | +228.4% |
| Suppliers | 440/4 | €1,959 | €6,433 | +€4,474 | +228.4% |
| Taxes, remuneration and social security | 45 | €4,970 | €8,101 | +€3,131 | +63.0% |
| Taxes | 450/3 | €4,970 | €8,101 | +€3,131 | +63.0% |
| Other amounts payable | 47/48 | €4,812 | €4,921 | +€109 | +2.3% |
| Other operating charges | 640/8 | €387 | €399 | +€12 | +3.0% |
| Gross operating margin | 9900 | €21,979 | €20,243 | -€1,736 | -7.9% |
| Operating profit (loss) | 9901 | €21,591 | €19,844 | -€1,747 | -8.1% |
| Financial income | 75/76B | - | €59 | +€59 | |
| Recurring financial income | 75 | - | €59 | +€59 | |
| Financial charges | 65/66B | €158 | €429 | +€271 | +172.0% |
| Recurring financial charges | 65 | €158 | €429 | +€271 | +172.0% |
| Profit (loss) for the period before taxes | 9903 | €21,434 | €19,474 | -€1,960 | -9.1% |
| Income taxes | 67/77 | €4,388 | €3,955 | -€433 | -9.9% |
| Profit (loss) for the period | 9904 | €17,046 | €15,519 | -€1,527 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,046 | €15,519 | -€1,527 | -9.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.