Milkyway: 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.
Milkyway
Largest movements
- Tangible fixed assets +€65,940
up €65,940 (+695%), from €9,491 to €75,431
of which Furniture and vehicles: +€39,467
- Cash -€16,809
down €16,809 (-55.5%), from €30,278 to €13,469
mainly Investment in fixed assets (net) (-€70,766) and Accrued charges and deferred income (-€4,399)
- Receivables within one year -€10,199
down €10,199 (-25.4%), from €40,124 to €29,925
of which Trade receivables: -€18,486
- Deferred charges and accrued income +€2,629
new in 2025: €2,629
- Other debts +€40,000
new in 2025: €40,000
- Profit (loss) carried forward +€6,198
up €6,198, from -€441 to €5,757
- Accrued charges and deferred income -€4,399
no longer reported in 2025 (was €4,399)
- Gross operating margin +€7,875
up €7,875 (+121%), from €6,486 to €14,362
- Financial charges -€4,786
down €4,786 (-99.6%), from €4,806 to €20
- Depreciation +€2,606
up €2,606 (+117%), from €2,219 to €4,825
- Other operating charges +€1,692
up €1,692 (+261%), from €648 to €2,340
- Taxes +€1,380
up €1,380 (+171%), from €805 to €2,185
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 | €79,893 | €121,455 | +€41,562 | +52.0% |
| Fixed assets | 21/28 | €9,491 | €75,431 | +€65,940 | +695% |
| Tangible fixed assets | 22/27 | €9,491 | €75,431 | +€65,940 | +695% |
| Land and buildings | 22 | €6,538 | €32,575 | +€26,037 | +398% |
| Plant, machinery and equipment | 23 | €594 | €1,030 | +€437 | +73.5% |
| Furniture and vehicles | 24 | €2,358 | €41,826 | +€39,467 | +1,673% |
| Current assets | 29/58 | €70,402 | €46,024 | -€24,378 | -34.6% |
| Amounts receivable within one year | 40/41 | €40,124 | €29,925 | -€10,199 | -25.4% |
| Trade receivables | 40 | €26,320 | €7,835 | -€18,486 | -70.2% |
| Other amounts receivable | 41 | €13,804 | €22,091 | +€8,287 | +60.0% |
| Cash at bank and in hand | 54/58 | €30,278 | €13,469 | -€16,809 | -55.5% |
| Deferred charges and accrued income | 490/1 | - | €2,629 | +€2,629 | |
| Total equity and liabilities | 10/49 | €79,893 | €121,455 | +€41,562 | +52.0% |
| Equity | 10/15 | €72,380 | €78,578 | +€6,198 | +8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €66,621 | €66,621 | = | 0.0% |
| Distributable reserves | 133 | €66,621 | €66,621 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€441 | €5,757 | +€6,198 | |
| Amounts payable | 17/49 | €7,513 | €42,876 | +€35,364 | +471% |
| Amounts payable within one year | 42/48 | €3,114 | €42,876 | +€39,762 | +1,277% |
| Financial debts | 43 | - | €194 | +€194 | |
| Credit institutions | 430/8 | - | €194 | +€194 | |
| Trade debts | 44 | €174 | €0 | -€174 | -100% |
| Suppliers | 440/4 | €174 | €0 | -€174 | -100% |
| Taxes, remuneration and social security | 45 | €2,940 | €2,682 | -€258 | -8.8% |
| Taxes | 450/3 | €2,940 | €2,682 | -€258 | -8.8% |
| Other amounts payable | 47/48 | - | €40,000 | +€40,000 | |
| Accrued charges and deferred income | 492/3 | €4,399 | - | -€4,399 | |
| Non-recurring operating income | 76A | - | €4,500 | +€4,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,219 | €4,825 | +€2,606 | +117% |
| Other operating charges | 640/8 | €648 | €2,340 | +€1,692 | +261% |
| Gross operating margin | 9900 | €6,486 | €14,362 | +€7,875 | +121% |
| Operating profit (loss) | 9901 | €3,619 | €7,196 | +€3,577 | +98.8% |
| Financial income | 75/76B | €418 | €1,208 | +€789 | +189% |
| Recurring financial income | 75 | €418 | €1,208 | +€789 | +189% |
| Financial charges | 65/66B | €4,806 | €20 | -€4,786 | -99.6% |
| Recurring financial charges | 65 | €4,806 | €20 | -€4,786 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | -€769 | €8,384 | +€9,153 | |
| Income taxes | 67/77 | €805 | €2,185 | +€1,380 | +171% |
| Profit (loss) for the period | 9904 | -€1,574 | €6,198 | +€7,772 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,574 | €6,198 | +€7,772 |
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 27 October 2026 via checked.be.