MILANI-EXPRESS: what changed
Two fiscal 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-EXPRESS
Largest movements
- Deferred charges and accrued income -€1,228
down €1,228 (-67.2%), from €1,827 to €599
- Cash -€395
down €395 (-46.3%), from €853 to €458
mainly Other debts (-€13,443) and Investment in fixed assets (net) (-€6,534)
- Other debts -€13,443
down €13,443 (-11.1%), from €120,599 to €107,156
- Profit (loss) carried forward +€6,603
up €6,603 (+5.1%), from -€130,015 to -€123,412
- Tax, wage and social debts +€5,217
up €5,217 (+88.5%), from €5,897 to €11,114
- Gross operating margin +€9,979
up €9,979 (+102.6%), from €9,722 to €19,701
- Depreciation +€6,534
new in 2025: €6,534
- Taxes +€1,642
up €1,642 (+53.6%), from €3,061 to €4,702
- Financial charges -€302
down €302 (-30.9%), from €979 to €676
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 | €2,680 | €1,057 | -€1,623 | -60.5% |
| Current assets | 29/58 | €2,680 | €1,057 | -€1,623 | -60.5% |
| Cash at bank and in hand | 54/58 | €853 | €458 | -€395 | -46.3% |
| Deferred charges and accrued income | 490/1 | €1,827 | €599 | -€1,228 | -67.2% |
| Total equity and liabilities | 10/49 | €2,680 | €1,057 | -€1,623 | -60.5% |
| Equity | 10/15 | -€123,815 | -€117,212 | +€6,603 | +5.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,015 | -€123,412 | +€6,603 | +5.1% |
| Amounts payable | 17/49 | €126,495 | €118,269 | -€8,226 | -6.5% |
| Amounts payable within one year | 42/48 | €126,495 | €118,269 | -€8,226 | -6.5% |
| Taxes, remuneration and social security | 45 | €5,897 | €11,114 | +€5,217 | +88.5% |
| Taxes | 450/3 | €5,897 | €11,114 | +€5,217 | +88.5% |
| Other amounts payable | 47/48 | €120,599 | €107,156 | -€13,443 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,534 | +€6,534 | |
| Other operating charges | 640/8 | €1,316 | €1,185 | -€130 | -9.9% |
| Gross operating margin | 9900 | €9,722 | €19,701 | +€9,979 | +102.6% |
| Operating profit (loss) | 9901 | €8,406 | €11,982 | +€3,575 | +42.5% |
| Financial charges | 65/66B | €979 | €676 | -€302 | -30.9% |
| Recurring financial charges | 65 | €979 | €676 | -€302 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €7,428 | €11,305 | +€3,878 | +52.2% |
| Income taxes | 67/77 | €3,061 | €4,702 | +€1,642 | +53.6% |
| Profit (loss) for the period | 9904 | €4,367 | €6,603 | +€2,236 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,367 | €6,603 | +€2,236 | +51.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.