MILONZO: 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.
MILONZO
Largest movements
- Receivables within one year +€69,832
up €69,832 (+296%), from €23,552 to €93,384
of which Other amounts receivable: +€91,493
- Tangible fixed assets -€42,137
down €42,137 (-98.0%), from €42,977 to €839
of which Furniture and vehicles: -€41,493
- Cash -€2,125
down €2,125 (-2.5%), from €85,404 to €83,280
mainly Other debts (-€77,300) and Contributions, distributions and other (-€70,000)
- Other debts -€77,300
down €77,300 (-52.3%), from €147,799 to €70,499
- Debts after one year +€73,350
new in 2026: €73,350
- Short-term financial debts +€16,650
new in 2026: €16,650
- Reserves +€7,307
up €7,307 (+1,082%), from €675 to €7,982
- Trade debts +€5,420
up €5,420 (+522%), from €1,038 to €6,458
- Gross operating margin -€77,796
down €77,796 (-38.6%), from €201,616 to €123,820
- Taxes -€23,121
down €23,121 (-47.2%), from €48,973 to €25,853
- Depreciation -€7,824
down €7,824 (-87.8%), from €8,916 to €1,092
- Financial income -€4,314
no longer reported in 2026 (was €4,314)
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,513 | €177,940 | +€25,427 | +16.7% |
| Formation expenses | 20 | €195 | - | -€195 | |
| Fixed assets | 21/28 | €42,977 | €839 | -€42,137 | -98.0% |
| Tangible fixed assets | 22/27 | €42,977 | €839 | -€42,137 | -98.0% |
| Plant, machinery and equipment | 23 | €1,164 | €519 | -€645 | -55.4% |
| Furniture and vehicles | 24 | €41,813 | €320 | -€41,493 | -99.2% |
| Current assets | 29/58 | €109,341 | €177,100 | +€67,759 | +62.0% |
| Amounts receivable within one year | 40/41 | €23,552 | €93,384 | +€69,832 | +296% |
| Trade receivables | 40 | €21,661 | - | -€21,661 | |
| Other amounts receivable | 41 | €1,892 | €93,384 | +€91,493 | +4,836% |
| Cash at bank and in hand | 54/58 | €85,404 | €83,280 | -€2,125 | -2.5% |
| Deferred charges and accrued income | 490/1 | €385 | €436 | +€51 | +13.4% |
| Total equity and liabilities | 10/49 | €152,513 | €177,940 | +€25,427 | +16.7% |
| Equity | 10/15 | €3,675 | €10,982 | +€7,307 | +199% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €675 | €7,982 | +€7,307 | +1,082% |
| Distributable reserves | 133 | €675 | €7,982 | +€7,307 | +1,082% |
| Amounts payable | 17/49 | €148,838 | €166,958 | +€18,120 | +12.2% |
| Amounts payable after more than one year | 17 | - | €73,350 | +€73,350 | |
| Financial debts | 170/4 | - | €73,350 | +€73,350 | |
| Amounts payable within one year | 42/48 | €148,838 | €93,607 | -€55,230 | -37.1% |
| Financial debts | 43 | - | €16,650 | +€16,650 | |
| Credit institutions | 430/8 | - | €16,650 | +€16,650 | |
| Trade debts | 44 | €1,038 | €6,458 | +€5,420 | +522% |
| Suppliers | 440/4 | €1,038 | €6,458 | +€5,420 | +522% |
| Other amounts payable | 47/48 | €147,799 | €70,499 | -€77,300 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,916 | €1,092 | -€7,824 | -87.8% |
| Other operating charges | 640/8 | €582 | €756 | +€173 | +29.8% |
| Non-recurring operating charges | 66A | - | €18,741 | +€18,741 | |
| Gross operating margin | 9900 | €201,616 | €123,820 | -€77,796 | -38.6% |
| Operating profit (loss) | 9901 | €192,117 | €103,232 | -€88,885 | -46.3% |
| Financial income | 75/76B | €4,314 | - | -€4,314 | |
| Recurring financial income | 75 | €4,314 | - | -€4,314 | |
| Financial charges | 65/66B | €70 | €72 | +€2 | +2.9% |
| Recurring financial charges | 65 | €70 | €72 | +€2 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €196,361 | €103,160 | -€93,201 | -47.5% |
| Income taxes | 67/77 | €48,973 | €25,853 | -€23,121 | -47.2% |
| Profit (loss) for the period | 9904 | €147,387 | €77,307 | -€70,081 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €147,387 | €77,307 | -€70,081 | -47.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.