Milze: 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.
Milze
Largest movements
- Receivables after one year +€68,327
new in 2025: €68,327
- Cash -€46,168
down €46,168 (-35.9%), from €128,712 to €82,544
mainly Receivables after one year (-€68,327) and Contributions, distributions and other (-€12,288)
- Receivables within one year +€4,968
up €4,968 (+41.0%), from €12,120 to €17,088
of which Trade receivables: +€5,437
- Tangible fixed assets +€3,815
up €3,815 (+40.7%), from €9,366 to €13,181
of which Other tangible fixed assets: +€6,349
- Reserves +€25,238
up €25,238 (+20.4%), from €123,450 to €148,688
- Trade debts +€4,513
up €4,513 (+194.6%), from €2,319 to €6,833
- Gross operating margin -€10,163
down €10,163 (-14.5%), from €70,184 to €60,021
- Taxes -€2,953
down €2,953 (-14.0%), from €21,142 to €18,189
- Depreciation -€1,600
down €1,600 (-34.9%), from €4,584 to €2,984
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 | €151,749 | €182,805 | +€31,056 | +20.5% |
| Fixed assets | 21/28 | €9,366 | €13,181 | +€3,815 | +40.7% |
| Tangible fixed assets | 22/27 | €9,366 | €13,181 | +€3,815 | +40.7% |
| Land and buildings | 22 | €6,156 | €5,266 | -€890 | -14.5% |
| Plant, machinery and equipment | 23 | €431 | €175 | -€257 | -59.5% |
| Furniture and vehicles | 24 | €2,779 | €1,392 | -€1,387 | -49.9% |
| Other tangible fixed assets | 26 | - | €6,349 | +€6,349 | |
| Current assets | 29/58 | €142,383 | €169,625 | +€27,242 | +19.1% |
| Amounts receivable after more than one year | 29 | - | €68,327 | +€68,327 | |
| Other amounts receivable | 291 | - | €68,327 | +€68,327 | |
| Amounts receivable within one year | 40/41 | €12,120 | €17,088 | +€4,968 | +41.0% |
| Trade receivables | 40 | €10,253 | €15,690 | +€5,437 | +53.0% |
| Other amounts receivable | 41 | €1,867 | €1,398 | -€469 | -25.1% |
| Cash at bank and in hand | 54/58 | €128,712 | €82,544 | -€46,168 | -35.9% |
| Deferred charges and accrued income | 490/1 | €1,551 | €1,666 | +€115 | +7.4% |
| Total equity and liabilities | 10/49 | €151,749 | €182,805 | +€31,056 | +20.5% |
| Equity | 10/15 | €142,050 | €167,288 | +€25,238 | +17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €123,450 | €148,688 | +€25,238 | +20.4% |
| Distributable reserves | 133 | €123,450 | €148,688 | +€25,238 | +20.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,700 | €15,518 | +€5,818 | +60.0% |
| Amounts payable within one year | 42/48 | €9,700 | €15,518 | +€5,818 | +60.0% |
| Trade debts | 44 | €2,319 | €6,833 | +€4,513 | +194.6% |
| Suppliers | 440/4 | €2,319 | €6,833 | +€4,513 | +194.6% |
| Taxes, remuneration and social security | 45 | €6,142 | €6,831 | +€689 | +11.2% |
| Taxes | 450/3 | €6,142 | €6,831 | +€689 | +11.2% |
| Other amounts payable | 47/48 | €1,238 | €1,853 | +€616 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,584 | €2,984 | -€1,600 | -34.9% |
| Other operating charges | 640/8 | €1,241 | €1,279 | +€37 | +3.0% |
| Gross operating margin | 9900 | €70,184 | €60,021 | -€10,163 | -14.5% |
| Operating profit (loss) | 9901 | €64,359 | €55,758 | -€8,601 | -13.4% |
| Financial income | 75/76B | €0 | €192 | +€192 | |
| Recurring financial income | 75 | €0 | €192 | +€192 | |
| Financial charges | 65/66B | €310 | €236 | -€74 | -24.0% |
| Recurring financial charges | 65 | €310 | €236 | -€74 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €64,049 | €55,715 | -€8,334 | -13.0% |
| Income taxes | 67/77 | €21,142 | €18,189 | -€2,953 | -14.0% |
| Profit (loss) for the period | 9904 | €42,906 | €37,526 | -€5,381 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,906 | €37,526 | -€5,381 | -12.5% |
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 5 October 2026 via checked.be.