Milanese: 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.
Milanese
Largest movements
- Cash +€5,559
up €5,559 (+99.2%), from €5,606 to €11,165
mainly Net result for the year (+€10,911) and Tax, wage and social debts (+€2,103)
- Receivables within one year +€5,184
up €5,184 (+9.6%), from €53,949 to €59,133
of which Trade receivables: +€5,239
- Deferred charges and accrued income +€898
up €898 (+60.1%), from €1,494 to €2,392
- Profit (loss) carried forward +€10,911
up €10,911 (+25.2%), from €43,350 to €54,261
- Tax, wage and social debts +€2,103
up €2,103 (+13.2%), from €15,961 to €18,064
- Trade debts -€1,373
down €1,373 (-79.0%), from €1,738 to €364
- Gross operating margin -€43,384
down €43,384 (-78.3%), from €55,403 to €12,019
- Taxes -€7,801
down €7,801 (-71.8%), from €10,859 to €3,058
- Depreciation -€2,538
no longer reported in 2025 (was €2,538)
- Financial income +€1,048
up €1,048 (+78.0%), from €1,344 to €2,392
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 | €61,049 | €72,690 | +€11,641 | +19.1% |
| Formation expenses | 20 | €0 | - | = | |
| Current assets | 29/58 | €61,049 | €72,690 | +€11,641 | +19.1% |
| Amounts receivable within one year | 40/41 | €53,949 | €59,133 | +€5,184 | +9.6% |
| Trade receivables | 40 | €10,937 | €16,176 | +€5,239 | +47.9% |
| Other amounts receivable | 41 | €43,012 | €42,957 | -€55 | -0.1% |
| Cash at bank and in hand | 54/58 | €5,606 | €11,165 | +€5,559 | +99.2% |
| Deferred charges and accrued income | 490/1 | €1,494 | €2,392 | +€898 | +60.1% |
| Total equity and liabilities | 10/49 | €61,049 | €72,690 | +€11,641 | +19.1% |
| Equity | 10/15 | €43,350 | €54,261 | +€10,911 | +25.2% |
| Profit (loss) carried forward | 14 | €43,350 | €54,261 | +€10,911 | +25.2% |
| Amounts payable | 17/49 | €17,699 | €18,429 | +€730 | +4.1% |
| Amounts payable within one year | 42/48 | €17,699 | €18,429 | +€730 | +4.1% |
| Trade debts | 44 | €1,738 | €364 | -€1,373 | -79.0% |
| Suppliers | 440/4 | €1,738 | €364 | -€1,373 | -79.0% |
| Taxes, remuneration and social security | 45 | €15,961 | €18,064 | +€2,103 | +13.2% |
| Taxes | 450/3 | €15,961 | €18,064 | +€2,103 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,538 | - | -€2,538 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €55,403 | €12,019 | -€43,384 | -78.3% |
| Operating profit (loss) | 9901 | €52,865 | €11,619 | -€41,246 | -78.0% |
| Financial income | 75/76B | €1,344 | €2,392 | +€1,048 | +78.0% |
| Recurring financial income | 75 | €1,344 | €2,392 | +€1,048 | +78.0% |
| Financial charges | 65/66B | - | €43 | +€43 | |
| Recurring financial charges | 65 | - | €43 | +€43 | |
| Profit (loss) for the period before taxes | 9903 | €54,209 | €13,969 | -€40,241 | -74.2% |
| Income taxes | 67/77 | €10,859 | €3,058 | -€7,801 | -71.8% |
| Profit (loss) for the period | 9904 | €43,350 | €10,911 | -€32,440 | -74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,350 | €10,911 | -€32,440 | -74.8% |
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 23 October 2026 via checked.be.