MILANDEV: 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.
MILANDEV
Largest movements
- Cash +€13,983
up €13,983 (+131%), from €10,707 to €24,690
mainly Net result for the year (+€37,767) and Depreciation (+€16,201)
- Tangible fixed assets +€5,483
up €5,483 (+2.8%), from €195,499 to €200,982
of which Land and buildings: +€13,131
- Deferred charges and accrued income +€3,157
new in 2025: €3,157
- Reserves +€28,648
up €28,648 (+26.5%), from €108,048 to €136,696
of which Distributable reserves: +€28,648
- Accrued charges and deferred income +€12,603
new in 2025: €12,603
- Debts after one year -€11,098
down €11,098 (-15.5%), from €71,636 to €60,538
- Trade debts -€8,543
down €8,543 (-76.9%), from €11,116 to €2,573
- Tax, wage and social debts +€7,982
up €7,982 (+130%), from €6,150 to €14,132
- Gross operating margin +€19,246
up €19,246 (+30.3%), from €63,469 to €82,715
- Taxes +€14,584
up €14,584, from -€6,590 to €7,994
- Other operating charges +€3,851
up €3,851 (+43.6%), from €8,828 to €12,679
- Financial charges +€3,771
up €3,771 (+95.3%), from €3,957 to €7,728
of which Non-recurring financial charges: +€3,279
- Depreciation +€1,536
up €1,536 (+10.5%), from €14,664 to €16,201
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 | €241,485 | €263,640 | +€22,155 | +9.2% |
| Fixed assets | 21/28 | €195,499 | €200,982 | +€5,483 | +2.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €195,499 | €200,982 | +€5,483 | +2.8% |
| Land and buildings | 22 | €135,400 | €148,531 | +€13,131 | +9.7% |
| Plant, machinery and equipment | 23 | €9,283 | €7,274 | -€2,008 | -21.6% |
| Furniture and vehicles | 24 | €26,333 | €21,485 | -€4,848 | -18.4% |
| Other tangible fixed assets | 26 | €24,483 | €23,691 | -€792 | -3.2% |
| Current assets | 29/58 | €45,986 | €62,658 | +€16,672 | +36.3% |
| Amounts receivable within one year | 40/41 | €30,280 | €29,811 | -€468 | -1.5% |
| Trade receivables | 40 | €24,524 | €27,436 | +€2,912 | +11.9% |
| Other amounts receivable | 41 | €5,756 | €2,375 | -€3,380 | -58.7% |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,707 | €24,690 | +€13,983 | +131% |
| Deferred charges and accrued income | 490/1 | - | €3,157 | +€3,157 | |
| Total equity and liabilities | 10/49 | €241,485 | €263,640 | +€22,155 | +9.2% |
| Equity | 10/15 | €124,929 | €149,096 | +€24,167 | +19.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €108,048 | €136,696 | +€28,648 | +26.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €106,188 | €134,836 | +€28,648 | +27.0% |
| Profit (loss) carried forward | 14 | €4,481 | - | -€4,481 | |
| Amounts payable | 17/49 | €116,556 | €114,544 | -€2,012 | -1.7% |
| Amounts payable after more than one year | 17 | €71,636 | €60,538 | -€11,098 | -15.5% |
| Financial debts | 170/4 | €71,636 | €60,538 | -€11,098 | -15.5% |
| Amounts payable within one year | 42/48 | €44,920 | €41,403 | -€3,518 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €14,054 | €11,098 | -€2,957 | -21.0% |
| Trade debts | 44 | €11,116 | €2,573 | -€8,543 | -76.9% |
| Suppliers | 440/4 | €11,116 | €2,573 | -€8,543 | -76.9% |
| Taxes, remuneration and social security | 45 | €6,150 | €14,132 | +€7,982 | +130% |
| Taxes | 450/3 | €6,150 | €14,132 | +€7,982 | +130% |
| Other amounts payable | 47/48 | €13,600 | €13,600 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €12,603 | +€12,603 | |
| Non-recurring operating income | 76A | €766 | €372 | -€394 | -51.5% |
| Remuneration, social security and pensions | 62 | €661 | €385 | -€276 | -41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,664 | €16,201 | +€1,536 | +10.5% |
| Other operating charges | 640/8 | €8,828 | €12,679 | +€3,851 | +43.6% |
| Non-recurring operating charges | 66A | €13,057 | - | -€13,057 | |
| Gross operating margin | 9900 | €63,469 | €82,715 | +€19,246 | +30.3% |
| Operating profit (loss) | 9901 | €26,259 | €53,450 | +€27,192 | +104% |
| Financial income | 75/76B | €147 | €38 | -€109 | -74.1% |
| Recurring financial income | 75 | €147 | €38 | -€109 | -74.1% |
| Financial charges | 65/66B | €3,957 | €7,728 | +€3,771 | +95.3% |
| Recurring financial charges | 65 | €3,957 | €4,449 | +€492 | +12.4% |
| Non-recurring financial charges | 66B | - | €3,279 | +€3,279 | |
| Profit (loss) for the period before taxes | 9903 | €22,448 | €45,761 | +€23,312 | +104% |
| Income taxes | 67/77 | -€6,590 | €7,994 | +€14,584 | |
| Profit (loss) for the period | 9904 | €29,039 | €37,767 | +€8,728 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,039 | €37,767 | +€8,728 | +30.1% |
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 15 October 2026 via checked.be.