D-MilK: 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.
D-MilK
Largest movements
- Cash +€426,961
up €426,961 (+78.7%), from €542,564 to €969,525
mainly Net result for the year (+€308,786) and Depreciation (+€263,972)
- Tangible fixed assets +€82,392
up €82,392 (+9.2%), from €897,121 to €979,513
of which Leasing and similar rights: +€196,468
- Reserves +€308,786
up €308,786 (+45.2%), from €683,110 to €991,896
of which Distributable reserves: +€295,708
- Debts after one year +€106,312
up €106,312 (+20.2%), from €526,545 to €632,857
- Tax, wage and social debts +€74,408
up €74,408 (+42.8%), from €173,721 to €248,129
of which Taxes: +€94,497
- Current portion of long-term debt +€43,858
up €43,858 (+26.9%), from €163,167 to €207,025
- Trade debts -€32,021
down €32,021 (-37.7%), from €84,845 to €52,824
- Gross operating margin +€216,299
up €216,299 (+20.1%), from €1.1m to €1.3m
- Depreciation +€60,202
up €60,202 (+29.5%), from €203,771 to €263,972
- Taxes +€48,661
up €48,661 (+52.7%), from €92,282 to €140,943
- Staff costs +€35,483
up €35,483 (+6.9%), from €517,154 to €552,637
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 | €1,656,388 | €2,157,731 | +€501,343 | +30.3% |
| Fixed assets | 21/28 | €905,339 | €987,597 | +€82,258 | +9.1% |
| Tangible fixed assets | 22/27 | €897,121 | €979,513 | +€82,392 | +9.2% |
| Plant, machinery and equipment | 23 | €99,513 | €85,235 | -€14,278 | -14.3% |
| Furniture and vehicles | 24 | €288,012 | €188,214 | -€99,798 | -34.7% |
| Leasing and similar rights | 25 | €509,596 | €706,064 | +€196,468 | +38.6% |
| Financial fixed assets | 28 | €8,218 | €8,085 | -€134 | -1.6% |
| Current assets | 29/58 | €751,049 | €1,170,134 | +€419,085 | +55.8% |
| Amounts receivable within one year | 40/41 | €197,376 | €180,319 | -€17,056 | -8.6% |
| Trade receivables | 40 | €158,992 | €145,375 | -€13,617 | -8.6% |
| Other amounts receivable | 41 | €38,383 | €34,944 | -€3,439 | -9.0% |
| Cash at bank and in hand | 54/58 | €542,564 | €969,525 | +€426,961 | +78.7% |
| Deferred charges and accrued income | 490/1 | €11,109 | €20,289 | +€9,180 | +82.6% |
| Total equity and liabilities | 10/49 | €1,656,388 | €2,157,731 | +€501,343 | +30.3% |
| Equity | 10/15 | €708,110 | €1,016,896 | +€308,786 | +43.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €683,110 | €991,896 | +€308,786 | +45.2% |
| Tax-exempt reserves | 132 | €63,150 | €76,228 | +€13,078 | +20.7% |
| Distributable reserves | 133 | €619,960 | €915,668 | +€295,708 | +47.7% |
| Amounts payable | 17/49 | €948,278 | €1,140,836 | +€192,557 | +20.3% |
| Amounts payable after more than one year | 17 | €526,545 | €632,857 | +€106,312 | +20.2% |
| Financial debts | 170/4 | €526,545 | €632,857 | +€106,312 | +20.2% |
| Amounts payable within one year | 42/48 | €421,733 | €507,978 | +€86,245 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €163,167 | €207,025 | +€43,858 | +26.9% |
| Trade debts | 44 | €84,845 | €52,824 | -€32,021 | -37.7% |
| Suppliers | 440/4 | €84,845 | €52,824 | -€32,021 | -37.7% |
| Taxes, remuneration and social security | 45 | €173,721 | €248,129 | +€74,408 | +42.8% |
| Taxes | 450/3 | €106,385 | €200,882 | +€94,497 | +88.8% |
| Remuneration and social security | 454/9 | €67,336 | €47,247 | -€20,089 | -29.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €13,078 | +€13,078 | |
| Remuneration, social security and pensions | 62 | €517,154 | €552,637 | +€35,483 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203,771 | €263,972 | +€60,202 | +29.5% |
| Other operating charges | 640/8 | €1,257 | €1,500 | +€242 | +19.3% |
| Gross operating margin | 9900 | €1,075,031 | €1,291,329 | +€216,299 | +20.1% |
| Operating profit (loss) | 9901 | €352,849 | €473,221 | +€120,372 | +34.1% |
| Financial income | 75/76B | €5,696 | €5,854 | +€158 | +2.8% |
| Recurring financial income | 75 | €5,696 | €5,854 | +€158 | +2.8% |
| Financial charges | 65/66B | €19,698 | €29,346 | +€9,648 | +49.0% |
| Recurring financial charges | 65 | €19,698 | €29,346 | +€9,648 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | €338,847 | €449,728 | +€110,881 | +32.7% |
| Income taxes | 67/77 | €92,282 | €140,943 | +€48,661 | +52.7% |
| Profit (loss) for the period | 9904 | €246,566 | €308,786 | +€62,220 | +25.2% |
| Transfer from tax-exempt reserves | 789 | - | €63,150 | +€63,150 | |
| Transfer to tax-exempt reserves | 689 | €63,150 | €76,228 | +€13,078 | +20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €183,416 | €295,708 | +€112,292 | +61.2% |
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 17 October 2026 via checked.be.