MILSON: 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.
MILSON
Largest movements
- Cash -€127,259
down €127,259 (-74.0%), from €172,060 to €44,801
mainly Debts after one year (-€105,849) and Net result for the year (-€17,417)
- Tangible fixed assets -€23,754
down €23,754 (-4.1%), from €575,152 to €551,398
of which Land and buildings: -€23,293
- Debts after one year -€105,849
no longer reported in 2025 (was €105,849)
- Profit (loss) carried forward -€17,417
down €17,417 (-5.3%), from €330,044 to €312,627
- Current portion of long-term debt -€17,067
no longer reported in 2025 (was €17,067)
- Other debts -€12,014
down €12,014 (-36.4%), from €33,030 to €21,016
- Gross operating margin -€2,518
down €2,518 (-25.2%), from €9,980 to €7,462
- Depreciation -€719
down €719 (-2.9%), from €24,473 to €23,754
- Financial income -€380
down €380 (-7.4%), from €5,147 to €4,767
of which Financial income: -€380
- Financial charges -€282
down €282 (-8.5%), from €3,307 to €3,025
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 | €748,756 | €597,629 | -€151,127 | -20.2% |
| Fixed assets | 21/28 | €575,152 | €551,398 | -€23,754 | -4.1% |
| Tangible fixed assets | 22/27 | €575,152 | €551,398 | -€23,754 | -4.1% |
| Land and buildings | 22 | €573,608 | €550,315 | -€23,293 | -4.1% |
| Plant, machinery and equipment | 23 | €1,305 | €1,083 | -€222 | -17.0% |
| Furniture and vehicles | 24 | €239 | - | -€239 | |
| Current assets | 29/58 | €173,604 | €46,231 | -€127,373 | -73.4% |
| Amounts receivable within one year | 40/41 | €1,544 | €1,430 | -€114 | -7.4% |
| Other amounts receivable | 41 | €1,544 | €1,430 | -€114 | -7.4% |
| Cash at bank and in hand | 54/58 | €172,060 | €44,801 | -€127,259 | -74.0% |
| Total equity and liabilities | 10/49 | €748,756 | €597,629 | -€151,127 | -20.2% |
| Equity | 10/15 | €592,809 | €575,392 | -€17,417 | -2.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €201,265 | €201,265 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €17,850 | €17,850 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Other | 1319 | €11,700 | €11,700 | = | 0.0% |
| Distributable reserves | 133 | €183,415 | €183,415 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €330,044 | €312,627 | -€17,417 | -5.3% |
| Amounts payable | 17/49 | €155,947 | €22,237 | -€133,710 | -85.7% |
| Amounts payable after more than one year | 17 | €105,849 | - | -€105,849 | |
| Financial debts | 170/4 | €105,849 | - | -€105,849 | |
| Amounts payable within one year | 42/48 | €50,098 | €22,237 | -€27,861 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €17,067 | - | -€17,067 | |
| Trade debts | 44 | - | €1,221 | +€1,221 | |
| Suppliers | 440/4 | - | €1,221 | +€1,221 | |
| Other amounts payable | 47/48 | €33,030 | €21,016 | -€12,014 | -36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,473 | €23,754 | -€719 | -2.9% |
| Other operating charges | 640/8 | €2,780 | €2,867 | +€87 | +3.1% |
| Gross operating margin | 9900 | €9,980 | €7,462 | -€2,518 | -25.2% |
| Operating profit (loss) | 9901 | -€17,273 | -€19,159 | -€1,886 | -10.9% |
| Financial income | 75/76B | €5,147 | €4,767 | -€380 | -7.4% |
| Recurring financial income | 75 | €5,147 | €4,767 | -€380 | -7.4% |
| Non-recurring financial income | 76B | €5,147 | €4,767 | -€380 | -7.4% |
| Financial charges | 65/66B | €3,307 | €3,025 | -€282 | -8.5% |
| Recurring financial charges | 65 | €3,307 | €3,025 | -€282 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,433 | -€17,417 | -€1,984 | -12.9% |
| Profit (loss) for the period | 9904 | -€15,433 | -€17,417 | -€1,984 | -12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,433 | -€17,417 | -€1,984 | -12.9% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.