MILANI: 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.
MILANI
Largest movements
- Receivables after one year -€177,619
no longer reported in 2025 (was €177,619)
- Receivables within one year +€176,928
up €176,928 (+389%), from €45,528 to €222,456
of which Other amounts receivable: +€171,653
- Cash +€36,993
up €36,993 (+124%), from €29,934 to €66,927
mainly Receivables after one year (+€177,619) and Net result for the year (+€31,265)
- Reserves +€31,265
up €31,265 (+1,682%), from €1,859 to €33,124
- Tax, wage and social debts +€14,047
up €14,047 (+319%), from €4,407 to €18,454
- Trade debts -€9,011
down €9,011 (-93.8%), from €9,605 to €594
- Gross operating margin +€36,777
up €36,777 (+1,480%), from €2,485 to €39,261
- Taxes +€12,999
up €12,999 (+436%), from €2,978 to €15,977
- Financial income +€4,360
up €4,360 (+83.5%), from €5,224 to €9,583
- Other operating charges +€784
up €784 (+216%), from €363 to €1,147
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €253,082 | €289,383 | +€36,302 | +14.3% |
| Current assets | 29/58 | €253,082 | €289,383 | +€36,302 | +14.3% |
| Amounts receivable after more than one year | 29 | €177,619 | - | -€177,619 | |
| Other amounts receivable | 291 | €177,619 | - | -€177,619 | |
| Amounts receivable within one year | 40/41 | €45,528 | €222,456 | +€176,928 | +389% |
| Trade receivables | 40 | - | €5,275 | +€5,275 | |
| Other amounts receivable | 41 | €45,528 | €217,181 | +€171,653 | +377% |
| Cash at bank and in hand | 54/58 | €29,934 | €66,927 | +€36,993 | +124% |
| Total equity and liabilities | 10/49 | €253,082 | €289,383 | +€36,302 | +14.3% |
| Equity | 10/15 | €239,070 | €270,335 | +€31,265 | +13.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €33,124 | +€31,265 | +1,682% |
| Distributable reserves | 133 | €1,859 | €33,124 | +€31,265 | +1,682% |
| Profit (loss) carried forward | 14 | €218,619 | €218,619 | = | 0.0% |
| Amounts payable | 17/49 | €14,011 | €19,048 | +€5,036 | +35.9% |
| Amounts payable within one year | 42/48 | €14,011 | €19,048 | +€5,036 | +35.9% |
| Trade debts | 44 | €9,605 | €594 | -€9,011 | -93.8% |
| Suppliers | 440/4 | €9,605 | €594 | -€9,011 | -93.8% |
| Taxes, remuneration and social security | 45 | €4,407 | €18,454 | +€14,047 | +319% |
| Taxes | 450/3 | €4,407 | €18,454 | +€14,047 | +319% |
| Other operating charges | 640/8 | €363 | €1,147 | +€784 | +216% |
| Gross operating margin | 9900 | €2,485 | €39,261 | +€36,777 | +1,480% |
| Operating profit (loss) | 9901 | €2,122 | €38,114 | +€35,992 | +1,696% |
| Financial income | 75/76B | €5,224 | €9,583 | +€4,360 | +83.5% |
| Recurring financial income | 75 | €5,224 | €9,583 | +€4,360 | +83.5% |
| Financial charges | 65/66B | €424 | €455 | +€32 | +7.4% |
| Recurring financial charges | 65 | €424 | €455 | +€32 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €6,922 | €47,242 | +€40,321 | +583% |
| Income taxes | 67/77 | €2,978 | €15,977 | +€12,999 | +436% |
| Profit (loss) for the period | 9904 | €3,943 | €31,265 | +€27,322 | +693% |
| Profit (loss) for the period to be appropriated | 9905 | €3,943 | €31,265 | +€27,322 | +693% |
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 14 October 2026 via checked.be.