MILANCO INVEST: 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.
MILANCO INVEST
Largest movements
- Receivables within one year +€312,500
up €312,500 (+1,316%), from €23,744 to €336,243
of which Trade receivables: +€301,694
- Tangible fixed assets -€257,075
down €257,075 (-31.6%), from €814,025 to €556,950
of which Land and buildings: -€252,279
- Cash -€189,447
down €189,447 (-34.9%), from €542,673 to €353,226
mainly Receivables within one year (-€312,500) and Other debts (-€77,818)
- Stocks and contracts +€60,000
new in 2025: €60,000
- Other debts -€77,818
down €77,818 (-9.7%), from €801,627 to €723,809
- Reserves +€17,213
up €17,213 (+19.4%), from €88,547 to €105,759
- Tax, wage and social debts -€14,359
down €14,359 (-59.2%), from €24,275 to €9,916
- Gross operating margin -€92,229
down €92,229 (-63.7%), from €144,762 to €52,533
- Depreciation -€47,289
down €47,289 (-68.3%), from €69,250 to €21,960
- Taxes -€14,677
down €14,677 (-59.7%), from €24,593 to €9,916
- Other operating charges -€1,540
down €1,540 (-35.9%), from €4,288 to €2,748
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 | €1,388,042 | €1,314,019 | -€74,023 | -5.3% |
| Fixed assets | 21/28 | €821,625 | €564,550 | -€257,075 | -31.3% |
| Tangible fixed assets | 22/27 | €814,025 | €556,950 | -€257,075 | -31.6% |
| Land and buildings | 22 | €806,805 | €554,526 | -€252,279 | -31.3% |
| Furniture and vehicles | 24 | €7,221 | €2,424 | -€4,797 | -66.4% |
| Financial fixed assets | 28 | €7,600 | €7,600 | = | 0.0% |
| Current assets | 29/58 | €566,417 | €749,469 | +€183,052 | +32.3% |
| Stocks and contracts in progress | 3 | - | €60,000 | +€60,000 | |
| Contracts in progress | 37 | - | €60,000 | +€60,000 | |
| Amounts receivable within one year | 40/41 | €23,744 | €336,243 | +€312,500 | +1,316% |
| Trade receivables | 40 | - | €301,694 | +€301,694 | |
| Other amounts receivable | 41 | €23,744 | €34,549 | +€10,806 | +45.5% |
| Cash at bank and in hand | 54/58 | €542,673 | €353,226 | -€189,447 | -34.9% |
| Total equity and liabilities | 10/49 | €1,388,042 | €1,314,019 | -€74,023 | -5.3% |
| Equity | 10/15 | €133,808 | €151,021 | +€17,213 | +12.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €88,547 | €105,759 | +€17,213 | +19.4% |
| Non-distributable reserves | 130/1 | €88,547 | €105,759 | +€17,213 | +19.4% |
| Other | 1319 | €88,547 | €105,759 | +€17,213 | +19.4% |
| Profit (loss) carried forward | 14 | €32,862 | €32,862 | = | 0.0% |
| Amounts payable | 17/49 | €1,254,234 | €1,162,998 | -€91,236 | -7.3% |
| Amounts payable within one year | 42/48 | €1,254,234 | €1,162,998 | -€91,236 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €2,810 | €2,810 | = | 0.0% |
| Trade debts | 44 | €62,523 | €63,464 | +€941 | +1.5% |
| Suppliers | 440/4 | €62,523 | €63,464 | +€941 | +1.5% |
| Advances received on contracts in progress | 46 | €363,000 | €363,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €24,275 | €9,916 | -€14,359 | -59.2% |
| Taxes | 450/3 | €24,275 | €9,916 | -€14,359 | -59.2% |
| Other amounts payable | 47/48 | €801,627 | €723,809 | -€77,818 | -9.7% |
| Remuneration, social security and pensions | 62 | €277 | €576 | +€299 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,250 | €21,960 | -€47,289 | -68.3% |
| Other operating charges | 640/8 | €4,288 | €2,748 | -€1,540 | -35.9% |
| Gross operating margin | 9900 | €144,762 | €52,533 | -€92,229 | -63.7% |
| Operating profit (loss) | 9901 | €70,948 | €27,248 | -€43,699 | -61.6% |
| Financial charges | 65/66B | €82 | €120 | +€37 | +45.3% |
| Recurring financial charges | 65 | €82 | €120 | +€37 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €70,865 | €27,129 | -€43,737 | -61.7% |
| Income taxes | 67/77 | €24,593 | €9,916 | -€14,677 | -59.7% |
| Profit (loss) for the period | 9904 | €46,272 | €17,213 | -€29,059 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,272 | €17,213 | -€29,059 | -62.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.