In Milano: 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.
In Milano
Largest movements
- Receivables after one year +€12,000
new in 2025: €12,000
- Tangible fixed assets -€10,618
down €10,618 (-4.0%), from €267,806 to €257,189
of which Land and buildings: -€7,470
- Cash -€4,664
down €4,664 (-51.9%), from €8,983 to €4,319
mainly Receivables after one year (-€12,000) and Net result for the year (-€2,802)
- Profit (loss) carried forward -€2,802
down €2,802 (-6.7%), from -€42,108 to -€44,911
- Other operating charges -€35,081
down €35,081 (-96.2%), from €36,465 to €1,384
- Gross operating margin +€2,117
up €2,117 (+29.9%), from €7,077 to €9,194
- Depreciation -€2,053
down €2,053 (-16.2%), from €12,671 to €10,618
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 | €276,789 | €273,850 | -€2,940 | -1.1% |
| Fixed assets | 21/28 | €267,806 | €257,189 | -€10,618 | -4.0% |
| Tangible fixed assets | 22/27 | €267,806 | €257,189 | -€10,618 | -4.0% |
| Land and buildings | 22 | €237,173 | €229,703 | -€7,470 | -3.1% |
| Other tangible fixed assets | 26 | €30,634 | €27,486 | -€3,148 | -10.3% |
| Current assets | 29/58 | €8,983 | €16,661 | +€7,678 | +85.5% |
| Amounts receivable after more than one year | 29 | - | €12,000 | +€12,000 | |
| Other amounts receivable | 291 | - | €12,000 | +€12,000 | |
| Cash at bank and in hand | 54/58 | €8,983 | €4,319 | -€4,664 | -51.9% |
| Deferred charges and accrued income | 490/1 | - | €342 | +€342 | |
| Total equity and liabilities | 10/49 | €276,789 | €273,850 | -€2,940 | -1.1% |
| Equity | 10/15 | -€38,108 | -€40,911 | -€2,802 | -7.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,108 | -€44,911 | -€2,802 | -6.7% |
| Amounts payable | 17/49 | €314,898 | €314,760 | -€138 | 0.0% |
| Amounts payable within one year | 42/48 | €314,898 | €314,760 | -€138 | 0.0% |
| Trade debts | 44 | €537 | €400 | -€138 | -25.6% |
| Suppliers | 440/4 | €537 | €400 | -€138 | -25.6% |
| Other amounts payable | 47/48 | €314,361 | €314,361 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,671 | €10,618 | -€2,053 | -16.2% |
| Other operating charges | 640/8 | €36,465 | €1,384 | -€35,081 | -96.2% |
| Gross operating margin | 9900 | €7,077 | €9,194 | +€2,117 | +29.9% |
| Operating profit (loss) | 9901 | -€42,059 | -€2,808 | +€39,251 | +93.3% |
| Financial income | 75/76B | - | €48 | +€48 | |
| Recurring financial income | 75 | - | €48 | +€48 | |
| Financial charges | 65/66B | €50 | €42 | -€8 | -15.4% |
| Recurring financial charges | 65 | €50 | €42 | -€8 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€42,108 | -€2,802 | +€39,306 | +93.3% |
| Profit (loss) for the period | 9904 | -€42,108 | -€2,802 | +€39,306 | +93.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,108 | -€2,802 | +€39,306 | +93.3% |
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 20 October 2026 via checked.be.