MILAS PROJECT: 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.
MILAS PROJECT
Largest movements
- Receivables within one year +€14,336
up €14,336 (+251.3%), from €5,704 to €20,040
- Tangible fixed assets +€1,629
up €1,629 (+35.8%), from €4,548 to €6,177
- Cash +€1,057
up €1,057 (+1.8%), from €59,291 to €60,348
mainly Net result for the year (+€12,363) and Other debts (+€8,669)
- Other debts +€8,669
up €8,669 (+270.4%), from €3,206 to €11,875
- Tax, wage and social debts +€5,392
up €5,392 (+28.7%), from €18,771 to €24,163
- Profit (loss) carried forward +€4,863
up €4,863 (+12.7%), from €38,185 to €43,048
- Trade debts -€1,610
down €1,610 (-21.8%), from €7,382 to €5,772
- Gross operating margin +€10,173
up €10,173 (+90.1%), from €11,292 to €21,466
- Taxes +€3,872
up €3,872 (+116.9%), from €3,312 to €7,183
- Depreciation +€679
up €679 (+44.1%), from €1,541 to €2,220
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 | €69,543 | €86,857 | +€17,314 | +24.9% |
| Fixed assets | 21/28 | €4,548 | €6,177 | +€1,629 | +35.8% |
| Tangible fixed assets | 22/27 | €4,548 | €6,177 | +€1,629 | +35.8% |
| Furniture and vehicles | 24 | €4,548 | €6,177 | +€1,629 | +35.8% |
| Current assets | 29/58 | €64,996 | €80,681 | +€15,685 | +24.1% |
| Amounts receivable within one year | 40/41 | €5,704 | €20,040 | +€14,336 | +251.3% |
| Trade receivables | 40 | €5,704 | €20,040 | +€14,336 | +251.3% |
| Cash at bank and in hand | 54/58 | €59,291 | €60,348 | +€1,057 | +1.8% |
| Deferred charges and accrued income | 490/1 | - | €293 | +€293 | |
| Total equity and liabilities | 10/49 | €69,543 | €86,857 | +€17,314 | +24.9% |
| Equity | 10/15 | €40,185 | €45,048 | +€4,863 | +12.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,185 | €43,048 | +€4,863 | +12.7% |
| Amounts payable | 17/49 | €29,358 | €41,809 | +€12,451 | +42.4% |
| Amounts payable within one year | 42/48 | €29,358 | €41,809 | +€12,451 | +42.4% |
| Trade debts | 44 | €7,382 | €5,772 | -€1,610 | -21.8% |
| Suppliers | 440/4 | €7,382 | €5,772 | -€1,610 | -21.8% |
| Taxes, remuneration and social security | 45 | €18,771 | €24,163 | +€5,392 | +28.7% |
| Taxes | 450/3 | €18,771 | €24,163 | +€5,392 | +28.7% |
| Other amounts payable | 47/48 | €3,206 | €11,875 | +€8,669 | +270.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,541 | €2,220 | +€679 | +44.1% |
| Gross operating margin | 9900 | €11,292 | €21,466 | +€10,173 | +90.1% |
| Operating profit (loss) | 9901 | €9,751 | €19,246 | +€9,494 | +97.4% |
| Financial income | 75/76B | €148 | €344 | +€197 | +133.3% |
| Recurring financial income | 75 | €148 | €344 | +€197 | +133.3% |
| Financial charges | 65/66B | €46 | €44 | -€2 | -4.8% |
| Recurring financial charges | 65 | €46 | €44 | -€2 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €9,853 | €19,547 | +€9,693 | +98.4% |
| Income taxes | 67/77 | €3,312 | €7,183 | +€3,872 | +116.9% |
| Profit (loss) for the period | 9904 | €6,542 | €12,363 | +€5,821 | +89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,542 | €12,363 | +€5,821 | +89.0% |
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.