ELLE-MILLA: 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.
ELLE-MILLA
Largest movements
- Stocks and contracts +€1.8m
new in 2025: €1.8m
- Cash -€593,975
down €593,975 (-92.2%), from €644,343 to €50,368
mainly Stocks and contracts (-€1.8m) and Net result for the year (-€110,551)
- Deferred charges and accrued income -€41,832
no longer reported in 2025 (was €41,832)
- Debts after one year +€946,100
up €946,100 (+183%), from €517,900 to €1.5m
- Advances received +€405,019
new in 2025: €405,019
- Profit (loss) carried forward -€130,551
down €130,551 (-35.8%), from €364,186 to €233,634
- Tax, wage and social debts -€24,326
no longer reported in 2025 (was €24,326)
- Gross operating margin -€230,527
down €230,527, from €149,260 to -€81,267
- Taxes -€24,326
no longer reported in 2025 (was €24,326)
- Financial charges -€8,779
down €8,779 (-30.8%), from €28,475 to €19,696
- Depreciation +€5,731
up €5,731 (+200%), from €2,869 to €8,600
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.
Derived cash bridge
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 | €912,723 | €2,130,165 | +€1.2m | +133% |
| Fixed assets | 21/28 | €226,549 | €246,361 | +€19,813 | +8.7% |
| Tangible fixed assets | 22/27 | €226,549 | €246,361 | +€19,813 | +8.7% |
| Land and buildings | 22 | €226,549 | €246,361 | +€19,813 | +8.7% |
| Current assets | 29/58 | €686,175 | €1,883,804 | +€1.2m | +175% |
| Stocks and contracts in progress | 3 | - | €1,833,436 | +€1.8m | |
| Stocks | 30/36 | - | €1,833,436 | +€1.8m | |
| Cash at bank and in hand | 54/58 | €644,343 | €50,368 | -€593,975 | -92.2% |
| Deferred charges and accrued income | 490/1 | €41,832 | - | -€41,832 | |
| Total equity and liabilities | 10/49 | €912,723 | €2,130,165 | +€1.2m | +133% |
| Equity | 10/15 | €366,686 | €236,134 | -€130,551 | -35.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €364,186 | €233,634 | -€130,551 | -35.8% |
| Amounts payable | 17/49 | €546,038 | €1,894,031 | +€1.3m | +247% |
| Amounts payable after more than one year | 17 | €517,900 | €1,464,000 | +€946,100 | +183% |
| Financial debts | 170/4 | €517,900 | €1,464,000 | +€946,100 | +183% |
| Amounts payable within one year | 42/48 | €28,138 | €429,444 | +€401,306 | +1,426% |
| Trade debts | 44 | €1,284 | €1,948 | +€664 | +51.7% |
| Suppliers | 440/4 | €1,284 | €1,948 | +€664 | +51.7% |
| Advances received on contracts in progress | 46 | - | €405,019 | +€405,019 | |
| Taxes, remuneration and social security | 45 | €24,326 | - | -€24,326 | |
| Taxes | 450/3 | €24,326 | - | -€24,326 | |
| Other amounts payable | 47/48 | €2,527 | €22,477 | +€19,950 | +789% |
| Accrued charges and deferred income | 492/3 | - | €587 | +€587 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,869 | €8,600 | +€5,731 | +200% |
| Other operating charges | 640/8 | €613 | €989 | +€376 | +61.4% |
| Gross operating margin | 9900 | €149,260 | -€81,267 | -€230,527 | |
| Operating profit (loss) | 9901 | €145,779 | -€90,856 | -€236,634 | |
| Financial charges | 65/66B | €28,475 | €19,696 | -€8,779 | -30.8% |
| Recurring financial charges | 65 | €28,475 | €19,696 | -€8,779 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | €117,304 | -€110,551 | -€227,855 | |
| Income taxes | 67/77 | €24,326 | - | -€24,326 | |
| Profit (loss) for the period | 9904 | €92,978 | -€110,551 | -€203,529 | |
| Profit (loss) for the period to be appropriated | 9905 | €92,978 | -€110,551 | -€203,529 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.