MILJANA: 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.
MILJANA
Largest movements
- Receivables within one year +€9,385
up €9,385 (+78.6%), from €11,943 to €21,328
of which Trade receivables: +€7,303
- Tangible fixed assets -€5,143
no longer reported in 2025 (was €5,143)
- Cash -€1,928
no longer reported in 2025 (was €1,928)
mainly Receivables within one year (-€9,385) and Short-term financial debts (-€5,188)
- Formation expenses -€543
no longer reported in 2025 (was €543)
- Deferred charges and accrued income -€353
no longer reported in 2025 (was €353)
- Current portion of long-term debt +€5,952
new in 2025: €5,952
- Short-term financial debts -€5,188
down €5,188 (-98.7%), from €5,254 to €66
- Trade debts +€3,406
new in 2025: €3,406
- Other debts +€2,999
up €2,999 (+279%), from €1,074 to €4,073
- Profit (loss) carried forward -€2,588
down €2,588 (-24.4%), from -€10,623 to -€13,211
- Depreciation -€5,856
down €5,856 (-50.7%), from €11,542 to €5,686
- Gross operating margin +€3,920
up €3,920 (+785%), from €500 to €4,420
- Financial charges +€876
up €876 (+1,213%), from €72 to €948
- Other operating charges +€331
up €331 (+534%), from €62 to €393
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 | €19,911 | €21,328 | +€1,418 | +7.1% |
| Formation expenses | 20 | €543 | - | -€543 | |
| Fixed assets | 21/28 | €5,143 | - | -€5,143 | |
| Tangible fixed assets | 22/27 | €5,143 | - | -€5,143 | |
| Furniture and vehicles | 24 | €5,143 | - | -€5,143 | |
| Current assets | 29/58 | €14,224 | €21,328 | +€7,104 | +49.9% |
| Amounts receivable within one year | 40/41 | €11,943 | €21,328 | +€9,385 | +78.6% |
| Trade receivables | 40 | €11,269 | €18,572 | +€7,303 | +64.8% |
| Other amounts receivable | 41 | €674 | €2,757 | +€2,083 | +309% |
| Cash at bank and in hand | 54/58 | €1,928 | - | -€1,928 | |
| Deferred charges and accrued income | 490/1 | €353 | - | -€353 | |
| Total equity and liabilities | 10/49 | €19,911 | €21,328 | +€1,418 | +7.1% |
| Equity | 10/15 | -€7,623 | -€10,211 | -€2,588 | -34.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,623 | -€13,211 | -€2,588 | -24.4% |
| Amounts payable | 17/49 | €27,534 | €31,540 | +€4,006 | +14.5% |
| Amounts payable after more than one year | 17 | €18,995 | €18,043 | -€952 | -5.0% |
| Financial debts | 170/4 | €18,995 | €18,043 | -€952 | -5.0% |
| Amounts payable within one year | 42/48 | €8,539 | €13,497 | +€4,958 | +58.1% |
| Current portion of amounts payable after more than one year | 42 | - | €5,952 | +€5,952 | |
| Financial debts | 43 | €5,254 | €66 | -€5,188 | -98.7% |
| Credit institutions | 430/8 | €5,254 | €66 | -€5,188 | -98.7% |
| Trade debts | 44 | - | €3,406 | +€3,406 | |
| Suppliers | 440/4 | - | €3,406 | +€3,406 | |
| Taxes, remuneration and social security | 45 | €2,212 | - | -€2,212 | |
| Taxes | 450/3 | €212 | - | -€212 | |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €1,074 | €4,073 | +€2,999 | +279% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,542 | €5,686 | -€5,856 | -50.7% |
| Other operating charges | 640/8 | €62 | €393 | +€331 | +534% |
| Gross operating margin | 9900 | €500 | €4,420 | +€3,920 | +785% |
| Operating profit (loss) | 9901 | -€11,105 | -€1,659 | +€9,445 | +85.1% |
| Financial income | 75/76B | €1 | €19 | +€19 | +3,710% |
| Recurring financial income | 75 | €1 | €19 | +€19 | +3,710% |
| Financial charges | 65/66B | €72 | €948 | +€876 | +1,213% |
| Recurring financial charges | 65 | €72 | €948 | +€876 | +1,213% |
| Profit (loss) for the period before taxes | 9903 | -€11,176 | -€2,588 | +€8,588 | +76.8% |
| Profit (loss) for the period | 9904 | -€11,176 | -€2,588 | +€8,588 | +76.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,176 | -€2,588 | +€8,588 | +76.8% |
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 29 October 2026 via checked.be.