MILENO: 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.
MILENO
Largest movements
- Tangible fixed assets -€2,128
down €2,128 (-2.4%), from €87,150 to €85,022
of which Land and buildings: -€5,129
- Other debts +€36,529
up €36,529 (+225.6%), from €16,195 to €52,725
- Reserves -€32,181
down €32,181 (-34.4%), from €93,586 to €61,405
- Current portion of long-term debt -€6,275
no longer reported in 2025 (was €6,275)
- Trade debts -€2,659
down €2,659 (-24.8%), from €10,729 to €8,071
- Gross operating margin -€10,102
down €10,102 (-16.5%), from €61,047 to €50,945
- Taxes -€2,366
down €2,366 (-15.2%), from €15,531 to €13,165
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 | €145,241 | €142,065 | -€3,176 | -2.2% |
| Fixed assets | 21/28 | €87,150 | €85,035 | -€2,115 | -2.4% |
| Tangible fixed assets | 22/27 | €87,150 | €85,022 | -€2,128 | -2.4% |
| Land and buildings | 22 | €80,707 | €75,578 | -€5,129 | -6.4% |
| Furniture and vehicles | 24 | €1,306 | €4,924 | +€3,618 | +277.0% |
| Other tangible fixed assets | 26 | €5,136 | €4,520 | -€617 | -12.0% |
| Financial fixed assets | 28 | - | €13 | +€13 | |
| Current assets | 29/58 | €58,091 | €57,030 | -€1,061 | -1.8% |
| Amounts receivable within one year | 40/41 | €19,739 | €19,312 | -€427 | -2.2% |
| Trade receivables | 40 | €17,964 | €19,312 | +€1,348 | +7.5% |
| Other amounts receivable | 41 | €1,774 | - | -€1,774 | |
| Cash at bank and in hand | 54/58 | €35,058 | €34,270 | -€789 | -2.2% |
| Deferred charges and accrued income | 490/1 | €3,294 | €3,448 | +€154 | +4.7% |
| Total equity and liabilities | 10/49 | €145,241 | €142,065 | -€3,176 | -2.2% |
| Equity | 10/15 | €99,786 | €67,605 | -€32,181 | -32.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €93,586 | €61,405 | -€32,181 | -34.4% |
| Distributable reserves | 133 | €93,586 | €61,405 | -€32,181 | -34.4% |
| Amounts payable | 17/49 | €45,455 | €74,459 | +€29,004 | +63.8% |
| Amounts payable within one year | 42/48 | €45,431 | €74,459 | +€29,028 | +63.9% |
| Current portion of amounts payable after more than one year | 42 | €6,275 | - | -€6,275 | |
| Trade debts | 44 | €10,729 | €8,071 | -€2,659 | -24.8% |
| Suppliers | 440/4 | €10,729 | €8,071 | -€2,659 | -24.8% |
| Taxes, remuneration and social security | 45 | €12,232 | €13,664 | +€1,432 | +11.7% |
| Taxes | 450/3 | €12,232 | €13,664 | +€1,432 | +11.7% |
| Other amounts payable | 47/48 | €16,195 | €52,725 | +€36,529 | +225.6% |
| Accrued charges and deferred income | 492/3 | €24 | - | -€24 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,642 | €7,414 | -€228 | -3.0% |
| Other operating charges | 640/8 | €3,156 | €3,379 | +€223 | +7.1% |
| Gross operating margin | 9900 | €61,047 | €50,945 | -€10,102 | -16.5% |
| Operating profit (loss) | 9901 | €50,250 | €40,153 | -€10,097 | -20.1% |
| Financial income | 75/76B | €35 | €464 | +€429 | +1238.5% |
| Recurring financial income | 75 | €35 | €464 | +€429 | +1238.5% |
| Financial charges | 65/66B | €719 | €369 | -€349 | -48.6% |
| Recurring financial charges | 65 | €719 | €369 | -€349 | -48.6% |
| Profit (loss) for the period before taxes | 9903 | €49,565 | €40,247 | -€9,318 | -18.8% |
| Income taxes | 67/77 | €15,531 | €13,165 | -€2,366 | -15.2% |
| Profit (loss) for the period | 9904 | €34,034 | €27,082 | -€6,952 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,034 | €27,082 | -€6,952 | -20.4% |
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 3 October 2026 via checked.be.