TAL MILSTEIN EQUESTRIAN: 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.
TAL MILSTEIN EQUESTRIAN
Largest movements
- Tangible fixed assets -€36,622
down €36,622 (-2.9%), from €1.3m to €1.2m
- Profit (loss) carried forward -€40,205
down €40,205 (-5.7%), from -€707,459 to -€747,664
- Gross operating margin +€4,041
up €4,041 (+55.0%), from -€7,350 to -€3,310
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 | €1,252,059 | €1,215,151 | -€36,908 | -2.9% |
| Fixed assets | 21/28 | €1,250,657 | €1,214,034 | -€36,622 | -2.9% |
| Tangible fixed assets | 22/27 | €1,250,657 | €1,214,034 | -€36,622 | -2.9% |
| Land and buildings | 22 | €1,250,657 | €1,214,034 | -€36,622 | -2.9% |
| Current assets | 29/58 | €1,402 | €1,117 | -€286 | -20.4% |
| Amounts receivable within one year | 40/41 | €861 | €623 | -€238 | -27.7% |
| Other amounts receivable | 41 | €861 | €623 | -€238 | -27.7% |
| Cash at bank and in hand | 54/58 | €542 | €494 | -€48 | -8.8% |
| Total equity and liabilities | 10/49 | €1,252,059 | €1,215,151 | -€36,908 | -2.9% |
| Equity | 10/15 | €42,541 | €2,336 | -€40,205 | -94.5% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€707,459 | -€747,664 | -€40,205 | -5.7% |
| Amounts payable | 17/49 | €1,209,518 | €1,212,816 | +€3,297 | +0.3% |
| Amounts payable within one year | 42/48 | €1,209,518 | €1,212,816 | +€3,297 | +0.3% |
| Trade debts | 44 | €518 | €1,816 | +€1,297 | +250% |
| Suppliers | 440/4 | €518 | €1,816 | +€1,297 | +250% |
| Other amounts payable | 47/48 | €1,209,000 | €1,211,000 | +€2,000 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,622 | €36,622 | = | 0.0% |
| Other operating charges | 640/8 | €226 | €233 | +€7 | +2.9% |
| Gross operating margin | 9900 | -€7,350 | -€3,310 | +€4,041 | +55.0% |
| Operating profit (loss) | 9901 | -€44,199 | -€40,165 | +€4,034 | +9.1% |
| Financial charges | 65/66B | - | €40 | +€40 | |
| Recurring financial charges | 65 | - | €40 | +€40 | |
| Profit (loss) for the period before taxes | 9903 | -€44,199 | -€40,205 | +€3,994 | +9.0% |
| Profit (loss) for the period | 9904 | -€44,199 | -€40,205 | +€3,994 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,199 | -€40,205 | +€3,994 | +9.0% |
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 23 October 2026 via checked.be.