MILANO.W: 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.
MILANO.W
Largest movements
- Receivables within one year -€1,398
down €1,398 (-19.7%), from €7,081 to €5,683
of which Trade receivables: -€1,360
- Profit (loss) carried forward -€1,404
down €1,404 (-27.6%), from -€5,081 to -€6,484
- Gross operating margin -€4,601
down €4,601, from €3,879 to -€722
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 | €7,081 | €5,683 | -€1,398 | -19.7% |
| Current assets | 29/58 | €7,081 | €5,683 | -€1,398 | -19.7% |
| Amounts receivable within one year | 40/41 | €7,081 | €5,683 | -€1,398 | -19.7% |
| Trade receivables | 40 | €7,043 | €5,683 | -€1,360 | -19.3% |
| Other amounts receivable | 41 | €38 | - | -€38 | |
| Cash at bank and in hand | 54/58 | - | €0 | = | |
| Total equity and liabilities | 10/49 | €7,081 | €5,683 | -€1,398 | -19.7% |
| Equity | 10/15 | €1,119 | -€284 | -€1,404 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,081 | -€6,484 | -€1,404 | -27.6% |
| Amounts payable | 17/49 | €5,962 | €5,967 | +€5 | +0.1% |
| Amounts payable within one year | 42/48 | €5,962 | €5,967 | +€5 | +0.1% |
| Financial debts | 43 | €3 | €8 | +€5 | +205% |
| Credit institutions | 430/8 | €3 | €8 | +€5 | +205% |
| Trade debts | 44 | €304 | €304 | = | 0.0% |
| Suppliers | 440/4 | €304 | €304 | = | 0.0% |
| Other amounts payable | 47/48 | €5,656 | €5,656 | = | 0.0% |
| Other operating charges | 640/8 | €599 | €599 | -€0 | 0.0% |
| Gross operating margin | 9900 | €3,879 | -€722 | -€4,601 | |
| Operating profit (loss) | 9901 | €3,279 | -€1,322 | -€4,601 | |
| Financial charges | 65/66B | €83 | €82 | -€1 | -0.8% |
| Recurring financial charges | 65 | €83 | €82 | -€1 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €3,197 | -€1,404 | -€4,600 | |
| Profit (loss) for the period | 9904 | €3,197 | -€1,404 | -€4,600 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,197 | -€1,404 | -€4,600 |
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 25 October 2026 via checked.be.