MILAN-IT: 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.
MILAN-IT
Largest movements
- Receivables within one year -€45,154
down €45,154 (-99.2%), from €45,533 to €379
of which Other amounts receivable: -€40,154
- Tangible fixed assets -€8,064
down €8,064 (-80.8%), from €9,974 to €1,910
- Cash -€7,732
down €7,732 (-41.5%), from €18,610 to €10,878
mainly Net result for the year (-€50,499) and Tax, wage and social debts (-€7,159)
- Profit (loss) carried forward -€50,499
down €50,499, from €32,922 to -€17,577
- Tax, wage and social debts -€7,159
down €7,159 (-58.8%), from €12,178 to €5,019
- Current portion of long-term debt -€5,634
down €5,634 (-74.1%), from €7,602 to €1,968
- Other debts +€4,537
new in 2025: €4,537
- Debts after one year -€1,968
no longer reported in 2025 (was €1,968)
- Gross operating margin -€47,052
down €47,052 (-92.3%), from €50,961 to €3,909
- Financial charges +€46,022
up €46,022 (+5143.0%), from €895 to €46,917
- Taxes -€9,490
down €9,490 (-97.7%), from €9,715 to €225
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 | €74,157 | €13,367 | -€60,790 | -82.0% |
| Fixed assets | 21/28 | €9,974 | €1,910 | -€8,064 | -80.8% |
| Tangible fixed assets | 22/27 | €9,974 | €1,910 | -€8,064 | -80.8% |
| Furniture and vehicles | 24 | €9,974 | €1,910 | -€8,064 | -80.8% |
| Current assets | 29/58 | €64,184 | €11,457 | -€52,726 | -82.1% |
| Amounts receivable within one year | 40/41 | €45,533 | €379 | -€45,154 | -99.2% |
| Trade receivables | 40 | €5,000 | - | -€5,000 | |
| Other amounts receivable | 41 | €40,533 | €379 | -€40,154 | -99.1% |
| Cash at bank and in hand | 54/58 | €18,610 | €10,878 | -€7,732 | -41.5% |
| Deferred charges and accrued income | 490/1 | €41 | €200 | +€159 | +390.0% |
| Total equity and liabilities | 10/49 | €74,157 | €13,367 | -€60,790 | -82.0% |
| Equity | 10/15 | €52,342 | €1,843 | -€50,499 | -96.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €17,421 | €17,421 | = | 0.0% |
| Distributable reserves | 133 | €17,421 | €17,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,922 | -€17,577 | -€50,499 | |
| Amounts payable | 17/49 | €21,815 | €11,524 | -€10,291 | -47.2% |
| Amounts payable after more than one year | 17 | €1,968 | - | -€1,968 | |
| Financial debts | 170/4 | €1,968 | - | -€1,968 | |
| Amounts payable within one year | 42/48 | €19,847 | €11,524 | -€8,323 | -41.9% |
| Current portion of amounts payable after more than one year | 42 | €7,602 | €1,968 | -€5,634 | -74.1% |
| Trade debts | 44 | €68 | - | -€68 | |
| Suppliers | 440/4 | €68 | - | -€68 | |
| Taxes, remuneration and social security | 45 | €12,178 | €5,019 | -€7,159 | -58.8% |
| Taxes | 450/3 | €12,178 | €5,019 | -€7,159 | -58.8% |
| Other amounts payable | 47/48 | - | €4,537 | +€4,537 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,064 | €8,064 | = | 0.0% |
| Other operating charges | 640/8 | €80 | - | -€80 | |
| Gross operating margin | 9900 | €50,961 | €3,909 | -€47,052 | -92.3% |
| Operating profit (loss) | 9901 | €42,817 | -€4,155 | -€46,972 | |
| Financial income | 75/76B | €714 | €798 | +€83 | +11.7% |
| Recurring financial income | 75 | €714 | €798 | +€83 | +11.7% |
| Financial charges | 65/66B | €895 | €46,917 | +€46,022 | +5143.0% |
| Recurring financial charges | 65 | €895 | €46,917 | +€46,022 | +5143.0% |
| Profit (loss) for the period before taxes | 9903 | €42,636 | -€50,274 | -€92,911 | |
| Income taxes | 67/77 | €9,715 | €225 | -€9,490 | -97.7% |
| Profit (loss) for the period | 9904 | €32,922 | -€50,499 | -€83,420 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,922 | -€50,499 | -€83,420 |
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.