Miglio: 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.
Miglio
Largest movements
- Receivables within one year -€952,656
down €952,656 (-75.0%), from €1.3m to €317,944
of which Other amounts receivable: -€958,272
- Stocks and contracts +€163,396
new in 2025: €163,396
- Cash +€128,425
up €128,425 (+126551.9%), from €101 to €128,526
mainly Receivables within one year (+€952,656) and Other debts (+€609,200)
- Intangible fixed assets +€70,200
new in 2025: €70,200
- Trade debts -€1.1m
down €1.1m (-89.6%), from €1.2m to €125,070
- Other debts +€609,200
up €609,200 (+11829.1%), from €5,150 to €614,350
- Profit (loss) carried forward -€72,711
new in 2025: -€72,711
- Reserves -€40,789
down €40,789 (-97.5%), from €41,849 to €1,060
of which Distributable reserves: -€39,729
- Financial income -€57,199
down €57,199 (-100.0%), from €57,220 to €21
- Staff costs +€38,805
new in 2025: €38,805
- Gross operating margin -€16,628
down €16,628 (-43.3%), from -€38,389 to -€55,018
- Financial charges +€7,732
up €7,732 (+1957.5%), from €395 to €8,127
- Depreciation -€5,206
down €5,206 (-33.3%), from €15,619 to €10,413
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 | €1,286,326 | €690,682 | -€595,644 | -46.3% |
| Fixed assets | 21/28 | €15,625 | €80,816 | +€65,191 | +417.2% |
| Intangible fixed assets | 21 | - | €70,200 | +€70,200 | |
| Tangible fixed assets | 22/27 | €15,625 | €10,616 | -€5,009 | -32.1% |
| Plant, machinery and equipment | 23 | €15,625 | €5,212 | -€10,413 | -66.6% |
| Furniture and vehicles | 24 | - | €5,405 | +€5,405 | |
| Current assets | 29/58 | €1,270,701 | €609,866 | -€660,835 | -52.0% |
| Stocks and contracts in progress | 3 | - | €163,396 | +€163,396 | |
| Stocks | 30/36 | - | €163,396 | +€163,396 | |
| Amounts receivable within one year | 40/41 | €1,270,600 | €317,944 | -€952,656 | -75.0% |
| Trade receivables | 40 | €89,354 | €94,970 | +€5,616 | +6.3% |
| Other amounts receivable | 41 | €1,181,246 | €222,974 | -€958,272 | -81.1% |
| Cash at bank and in hand | 54/58 | €101 | €128,526 | +€128,425 | +126551.9% |
| Total equity and liabilities | 10/49 | €1,286,326 | €690,682 | -€595,644 | -46.3% |
| Equity | 10/15 | €60,449 | -€53,051 | -€113,500 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €41,849 | €1,060 | -€40,789 | -97.5% |
| Non-distributable reserves | 130/1 | €1,060 | - | -€1,060 | |
| Reserves not available under the articles | 1311 | €1,060 | - | -€1,060 | |
| Distributable reserves | 133 | €40,789 | €1,060 | -€39,729 | -97.4% |
| Profit (loss) carried forward | 14 | - | -€72,711 | -€72,711 | |
| Amounts payable | 17/49 | €1,225,877 | €743,733 | -€482,143 | -39.3% |
| Amounts payable within one year | 42/48 | €1,225,877 | €743,733 | -€482,143 | -39.3% |
| Trade debts | 44 | €1,207,022 | €125,070 | -€1.1m | -89.6% |
| Suppliers | 440/4 | €1,207,022 | €125,070 | -€1.1m | -89.6% |
| Taxes, remuneration and social security | 45 | €13,705 | €4,313 | -€9,392 | -68.5% |
| Taxes | 450/3 | €13,705 | €81 | -€13,624 | -99.4% |
| Remuneration and social security | 454/9 | - | €4,232 | +€4,232 | |
| Other amounts payable | 47/48 | €5,150 | €614,350 | +€609,200 | +11829.1% |
| Non-recurring operating income | 76A | - | €100,000 | +€100,000 | |
| Remuneration, social security and pensions | 62 | - | €38,805 | +€38,805 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,619 | €10,413 | -€5,206 | -33.3% |
| Other operating charges | 640/8 | - | €1,073 | +€1,073 | |
| Gross operating margin | 9900 | -€38,389 | -€55,018 | -€16,628 | -43.3% |
| Operating profit (loss) | 9901 | -€54,009 | -€105,309 | -€51,301 | -95.0% |
| Financial income | 75/76B | €57,220 | €21 | -€57,199 | -100.0% |
| Recurring financial income | 75 | €57,220 | €21 | -€57,199 | -100.0% |
| Financial charges | 65/66B | €395 | €8,127 | +€7,732 | +1957.5% |
| Recurring financial charges | 65 | €395 | €8,127 | +€7,732 | +1957.5% |
| Profit (loss) for the period before taxes | 9903 | €2,817 | -€113,416 | -€116,232 | |
| Income taxes | 67/77 | €768 | €84 | -€683 | -89.0% |
| Profit (loss) for the period | 9904 | €2,049 | -€113,500 | -€115,549 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,049 | -€113,500 | -€115,549 |
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 9 October 2026 via checked.be.