MILOMAN: 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.
MILOMAN
Largest movements
- Cash -€30,204
down €30,204 (-68.8%), from €43,891 to €13,687
mainly Debts after one year (-€12,522) and Current portion of long-term debt (-€9,671)
- Tangible fixed assets -€8,773
down €8,773 (-3.9%), from €226,792 to €218,019
of which Land and buildings: -€7,392
- Debts after one year -€12,522
down €12,522 (-6.6%), from €188,407 to €175,885
of which Financial debts: -€14,345
- Current portion of long-term debt -€9,671
down €9,671 (-40.3%), from €24,016 to €14,345
- Tax, wage and social debts -€6,255
no longer reported in 2025 (was €6,255)
- Gross operating margin -€98,546
down €98,546 (-91.0%), from €108,349 to €9,803
- Taxes -€26,515
down €26,515, from €26,440 to -€75
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 | €562,230 | €523,253 | -€38,977 | -6.9% |
| Fixed assets | 21/28 | €226,792 | €218,019 | -€8,773 | -3.9% |
| Tangible fixed assets | 22/27 | €226,792 | €218,019 | -€8,773 | -3.9% |
| Land and buildings | 22 | €224,381 | €216,989 | -€7,392 | -3.3% |
| Furniture and vehicles | 24 | €2,411 | €1,030 | -€1,381 | -57.3% |
| Current assets | 29/58 | €335,438 | €305,234 | -€30,204 | -9.0% |
| Amounts receivable after more than one year | 29 | €280,000 | €280,000 | = | 0.0% |
| Other amounts receivable | 291 | €280,000 | €280,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,547 | €11,547 | = | 0.0% |
| Other amounts receivable | 41 | €11,547 | €11,547 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43,891 | €13,687 | -€30,204 | -68.8% |
| Total equity and liabilities | 10/49 | €562,230 | €523,253 | -€38,977 | -6.9% |
| Equity | 10/15 | €336,455 | €330,954 | -€5,501 | -1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €324,055 | €324,055 | = | 0.0% |
| Distributable reserves | 133 | €324,055 | €324,055 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,501 | -€5,501 | |
| Amounts payable | 17/49 | €225,775 | €192,299 | -€33,476 | -14.8% |
| Amounts payable after more than one year | 17 | €188,407 | €175,885 | -€12,522 | -6.6% |
| Financial debts | 170/4 | €151,942 | €137,597 | -€14,345 | -9.4% |
| Other amounts payable | 178/9 | €36,465 | €38,288 | +€1,823 | +5.0% |
| Amounts payable within one year | 42/48 | €37,368 | €16,414 | -€20,954 | -56.1% |
| Current portion of amounts payable after more than one year | 42 | €24,016 | €14,345 | -€9,671 | -40.3% |
| Trade debts | 44 | €2,330 | €584 | -€1,746 | -74.9% |
| Suppliers | 440/4 | €2,330 | €584 | -€1,746 | -74.9% |
| Taxes, remuneration and social security | 45 | €6,255 | - | -€6,255 | |
| Taxes | 450/3 | €6,255 | - | -€6,255 | |
| Other amounts payable | 47/48 | €4,767 | €1,485 | -€3,282 | -68.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,428 | €8,773 | +€345 | +4.1% |
| Other operating charges | 640/8 | €922 | €623 | -€299 | -32.4% |
| Gross operating margin | 9900 | €108,349 | €9,803 | -€98,546 | -91.0% |
| Operating profit (loss) | 9901 | €98,999 | €407 | -€98,592 | -99.6% |
| Financial charges | 65/66B | €6,815 | €5,983 | -€832 | -12.2% |
| Recurring financial charges | 65 | €6,815 | €5,983 | -€832 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €92,184 | -€5,576 | -€97,760 | |
| Income taxes | 67/77 | €26,440 | -€75 | -€26,515 | |
| Profit (loss) for the period | 9904 | €65,744 | -€5,501 | -€71,245 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,744 | -€5,501 | -€71,245 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.