MILKO: 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.
MILKO
Largest movements
- Tangible fixed assets -€9,787
down €9,787 (-34.2%), from €28,617 to €18,830
of which Plant, machinery and equipment: -€8,742
- Receivables within one year +€5,764
up €5,764 (+9.6%), from €59,879 to €65,643
of which Other amounts receivable: +€10,737
- Tax, wage and social debts -€7,609
down €7,609 (-35.9%), from €21,167 to €13,558
- Trade debts +€6,248
up €6,248 (+13.8%), from €45,177 to €51,426
- Reserves -€2,753
down €2,753 (-2.8%), from €98,474 to €95,721
of which Distributable reserves: -€2,753
- Gross operating margin -€37,870
down €37,870 (-84.3%), from €44,922 to €7,052
- Taxes -€16,294
down €16,294 (-100.0%), from €16,294 to €0
- Financial charges +€13,840
up €13,840, from -€4,426 to €9,414
- Depreciation +€1,497
up €1,497 (+22.1%), from €6,770 to €8,268
- Financial income +€1,267
up €1,267 (+18.4%), from €6,889 to €8,156
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 | €184,373 | €180,294 | -€4,079 | -2.2% |
| Fixed assets | 21/28 | €28,617 | €18,830 | -€9,787 | -34.2% |
| Tangible fixed assets | 22/27 | €28,617 | €18,830 | -€9,787 | -34.2% |
| Plant, machinery and equipment | 23 | €24,328 | €15,586 | -€8,742 | -35.9% |
| Furniture and vehicles | 24 | €4,289 | €3,244 | -€1,045 | -24.4% |
| Current assets | 29/58 | €155,756 | €161,464 | +€5,708 | +3.7% |
| Amounts receivable after more than one year | 29 | €95,764 | €95,764 | = | 0.0% |
| Other amounts receivable | 291 | €95,764 | €95,764 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,879 | €65,643 | +€5,764 | +9.6% |
| Trade receivables | 40 | €5,176 | €203 | -€4,973 | -96.1% |
| Other amounts receivable | 41 | €54,703 | €65,440 | +€10,737 | +19.6% |
| Cash at bank and in hand | 54/58 | €112 | €56 | -€56 | -49.7% |
| Total equity and liabilities | 10/49 | €184,373 | €180,294 | -€4,079 | -2.2% |
| Equity | 10/15 | €117,066 | €114,313 | -€2,753 | -2.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €98,474 | €95,721 | -€2,753 | -2.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,602 | €9,602 | = | 0.0% |
| Distributable reserves | 133 | €87,013 | €84,260 | -€2,753 | -3.2% |
| Amounts payable | 17/49 | €67,307 | €65,981 | -€1,326 | -2.0% |
| Amounts payable within one year | 42/48 | €66,344 | €64,984 | -€1,361 | -2.1% |
| Trade debts | 44 | €45,177 | €51,426 | +€6,248 | +13.8% |
| Suppliers | 440/4 | €45,177 | €51,426 | +€6,248 | +13.8% |
| Taxes, remuneration and social security | 45 | €21,167 | €13,558 | -€7,609 | -35.9% |
| Taxes | 450/3 | €21,167 | €13,558 | -€7,609 | -35.9% |
| Accrued charges and deferred income | 492/3 | €963 | €997 | +€34 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,770 | €8,268 | +€1,497 | +22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,211 | €279 | -€932 | -76.9% |
| Gross operating margin | 9900 | €44,922 | €7,052 | -€37,870 | -84.3% |
| Operating profit (loss) | 9901 | €36,940 | -€1,495 | -€38,436 | |
| Financial income | 75/76B | €6,889 | €8,156 | +€1,267 | +18.4% |
| Recurring financial income | 75 | €6,889 | €8,156 | +€1,267 | +18.4% |
| Financial charges | 65/66B | -€4,426 | €9,414 | +€13,840 | |
| Recurring financial charges | 65 | -€4,426 | €9,414 | +€13,840 | |
| Profit (loss) for the period before taxes | 9903 | €48,255 | -€2,753 | -€51,008 | |
| Income taxes | 67/77 | €16,294 | €0 | -€16,294 | -100.0% |
| Profit (loss) for the period | 9904 | €31,961 | -€2,753 | -€34,714 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,961 | -€2,753 | -€34,714 |
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 12 October 2026 via checked.be.