MILHO: 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.
MILHO
Largest movements
- Cash -€13,864
down €13,864 (-22.6%), from €61,355 to €47,491
mainly Net result for the year (-€13,817) and Trade debts (-€2,464)
- Receivables within one year -€2,475
down €2,475 (-1.7%), from €147,373 to €144,898
- Profit (loss) carried forward -€13,817
down €13,817 (-99.9%), from -€13,830 to -€27,647
- Trade debts -€2,464
down €2,464 (-98.5%), from €2,500 to €36
- Gross operating margin +€1,350
up €1,350 (+8.0%), from -€16,947 to -€15,597
- Financial income -€1,179
down €1,179 (-29.3%), from €4,016 to €2,838
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 | €208,728 | €192,389 | -€16,339 | -7.8% |
| Current assets | 29/58 | €208,728 | €192,389 | -€16,339 | -7.8% |
| Amounts receivable within one year | 40/41 | €147,373 | €144,898 | -€2,475 | -1.7% |
| Other amounts receivable | 41 | €147,373 | €144,898 | -€2,475 | -1.7% |
| Cash at bank and in hand | 54/58 | €61,355 | €47,491 | -€13,864 | -22.6% |
| Total equity and liabilities | 10/49 | €208,728 | €192,389 | -€16,339 | -7.8% |
| Equity | 10/15 | €206,170 | €192,353 | -€13,817 | -6.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€13,830 | -€27,647 | -€13,817 | -99.9% |
| Amounts payable | 17/49 | €2,558 | €36 | -€2,522 | -98.6% |
| Amounts payable within one year | 42/48 | €2,500 | €36 | -€2,464 | -98.5% |
| Trade debts | 44 | €2,500 | €36 | -€2,464 | -98.5% |
| Suppliers | 440/4 | €2,500 | €36 | -€2,464 | -98.5% |
| Accrued charges and deferred income | 492/3 | €58 | €0 | -€58 | -100.0% |
| Other operating charges | 640/8 | €644 | €612 | -€33 | -5.1% |
| Gross operating margin | 9900 | -€16,947 | -€15,597 | +€1,350 | +8.0% |
| Operating profit (loss) | 9901 | -€17,592 | -€16,209 | +€1,383 | +7.9% |
| Financial income | 75/76B | €4,016 | €2,838 | -€1,179 | -29.3% |
| Recurring financial income | 75 | €4,016 | €2,838 | -€1,179 | -29.3% |
| Financial charges | 65/66B | €497 | €446 | -€51 | -10.3% |
| Recurring financial charges | 65 | €497 | €446 | -€51 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,072 | -€13,817 | +€255 | +1.8% |
| Profit (loss) for the period | 9904 | -€14,072 | -€13,817 | +€255 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,072 | -€13,817 | +€255 | +1.8% |
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 4 October 2026 via checked.be.