Milutic: 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.
Milutic
Largest movements
- Tangible fixed assets -€9,646
down €9,646 (-8.6%), from €111,891 to €102,245
of which Land and buildings: -€7,520
- Cash -€4,423
down €4,423 (-7.6%), from €58,241 to €53,818
mainly Contributions, distributions and other (-€20,108) and Investment in fixed assets (net) (-€7,469)
- Reserves -€10,980
down €10,980 (-7.5%), from €147,329 to €136,349
- Debts after one year -€5,623
down €5,623 (-40.4%), from €13,915 to €8,292
- Tax, wage and social debts +€2,717
up €2,717 (+17.6%), from €15,437 to €18,154
- Depreciation +€1,659
up €1,659 (+10.7%), from €15,456 to €17,115
- Gross operating margin +€1,154
up €1,154 (+3.6%), from €32,442 to €33,596
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 | €184,778 | €170,777 | -€14,001 | -7.6% |
| Fixed assets | 21/28 | €111,891 | €102,245 | -€9,646 | -8.6% |
| Tangible fixed assets | 22/27 | €111,891 | €102,245 | -€9,646 | -8.6% |
| Land and buildings | 22 | €90,240 | €82,720 | -€7,520 | -8.3% |
| Plant, machinery and equipment | 23 | - | €2,467 | +€2,467 | |
| Furniture and vehicles | 24 | €21,651 | €17,058 | -€4,593 | -21.2% |
| Current assets | 29/58 | €72,887 | €68,532 | -€4,355 | -6.0% |
| Amounts receivable within one year | 40/41 | €14,646 | €13,524 | -€1,122 | -7.7% |
| Trade receivables | 40 | €11,085 | €13,524 | +€2,439 | +22.0% |
| Other amounts receivable | 41 | €3,561 | - | -€3,561 | |
| Cash at bank and in hand | 54/58 | €58,241 | €53,818 | -€4,423 | -7.6% |
| Deferred charges and accrued income | 490/1 | - | €1,190 | +€1,190 | |
| Total equity and liabilities | 10/49 | €184,778 | €170,777 | -€14,001 | -7.6% |
| Equity | 10/15 | €147,329 | €136,349 | -€10,980 | -7.5% |
| Reserves | 13 | €147,329 | €136,349 | -€10,980 | -7.5% |
| Distributable reserves | 133 | €147,329 | €136,349 | -€10,980 | -7.5% |
| Amounts payable | 17/49 | €37,449 | €34,428 | -€3,021 | -8.1% |
| Amounts payable after more than one year | 17 | €13,915 | €8,292 | -€5,623 | -40.4% |
| Financial debts | 170/4 | €13,915 | €8,292 | -€5,623 | -40.4% |
| Amounts payable within one year | 42/48 | €22,990 | €26,136 | +€3,146 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €5,440 | €5,623 | +€183 | +3.4% |
| Trade debts | 44 | €2,113 | €1,974 | -€139 | -6.6% |
| Suppliers | 440/4 | €2,113 | €1,974 | -€139 | -6.6% |
| Taxes, remuneration and social security | 45 | €15,437 | €18,154 | +€2,717 | +17.6% |
| Taxes | 450/3 | €15,437 | €18,154 | +€2,717 | +17.6% |
| Other amounts payable | 47/48 | - | €385 | +€385 | |
| Accrued charges and deferred income | 492/3 | €544 | - | -€544 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,456 | €17,115 | +€1,659 | +10.7% |
| Other operating charges | 640/8 | €1,105 | €1,139 | +€34 | +3.1% |
| Gross operating margin | 9900 | €32,442 | €33,596 | +€1,154 | +3.6% |
| Operating profit (loss) | 9901 | €15,881 | €15,342 | -€539 | -3.4% |
| Financial income | 75/76B | €284 | €159 | -€125 | -44.0% |
| Recurring financial income | 75 | €284 | €159 | -€125 | -44.0% |
| Financial charges | 65/66B | €807 | €625 | -€182 | -22.6% |
| Recurring financial charges | 65 | €807 | €625 | -€182 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €15,358 | €14,876 | -€482 | -3.1% |
| Income taxes | 67/77 | €5,715 | €5,748 | +€33 | +0.6% |
| Profit (loss) for the period | 9904 | €9,643 | €9,128 | -€515 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,643 | €9,128 | -€515 | -5.3% |
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 3 October 2026 via checked.be.