MILA & NORA: 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.
MILA & NORA
Largest movements
- Stocks and contracts -€184,619
down €184,619 (-9.6%), from €1.9m to €1.7m
- Cash +€70,355
up €70,355 (+6,848%), from €1,027 to €71,382
mainly Other debts (+€433,742) and Stocks and contracts (+€184,619)
- Tangible fixed assets +€36,377
up €36,377 (+3,620%), from €1,005 to €37,382
- Deferred charges and accrued income +€26,615
up €26,615 (+16.2%), from €164,465 to €191,080
- Other debts +€433,742
up €433,742 (+51.1%), from €848,526 to €1.3m
- Debts after one year -€400,000
down €400,000 (-27.1%), from €1.5m to €1.1m
- Profit (loss) carried forward -€119,824
down €119,824 (-54.2%), from -€221,134 to -€340,958
- Trade debts +€27,431
up €27,431 (+156%), from €17,537 to €44,968
- Gross operating margin +€40,720
up €40,720 (+33.6%), from -€121,264 to -€80,545
- Financial charges -€40,447
down €40,447 (-55.0%), from €73,574 to €33,127
- Financial income -€8,330
down €8,330 (-84.6%), from €9,845 to €1,515
- Depreciation +€5,201
up €5,201 (+654%), from €796 to €5,997
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 | €2,140,519 | €2,079,636 | -€60,883 | -2.8% |
| Fixed assets | 21/28 | €1,005 | €37,382 | +€36,377 | +3,620% |
| Tangible fixed assets | 22/27 | €1,005 | €37,382 | +€36,377 | +3,620% |
| Furniture and vehicles | 24 | €1,005 | €37,382 | +€36,377 | +3,620% |
| Current assets | 29/58 | €2,139,514 | €2,042,254 | -€97,260 | -4.5% |
| Stocks and contracts in progress | 3 | €1,917,961 | €1,733,342 | -€184,619 | -9.6% |
| Stocks | 30/36 | €1,917,961 | €1,733,342 | -€184,619 | -9.6% |
| Amounts receivable within one year | 40/41 | €56,061 | €46,449 | -€9,611 | -17.1% |
| Trade receivables | 40 | €45,901 | €45,901 | = | 0.0% |
| Other amounts receivable | 41 | €10,160 | €548 | -€9,611 | -94.6% |
| Cash at bank and in hand | 54/58 | €1,027 | €71,382 | +€70,355 | +6,848% |
| Deferred charges and accrued income | 490/1 | €164,465 | €191,080 | +€26,615 | +16.2% |
| Total equity and liabilities | 10/49 | €2,140,519 | €2,079,636 | -€60,883 | -2.8% |
| Equity | 10/15 | -€202,534 | -€322,358 | -€119,824 | -59.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€221,134 | -€340,958 | -€119,824 | -54.2% |
| Amounts payable | 17/49 | €2,343,053 | €2,401,994 | +€58,941 | +2.5% |
| Amounts payable after more than one year | 17 | €1,474,684 | €1,074,684 | -€400,000 | -27.1% |
| Financial debts | 170/4 | €1,474,684 | €1,074,684 | -€400,000 | -27.1% |
| Amounts payable within one year | 42/48 | €868,369 | €1,327,310 | +€458,941 | +52.9% |
| Financial debts | 43 | €2,306 | €0 | -€2,306 | -100% |
| Credit institutions | 430/8 | €2,306 | €0 | -€2,306 | -100% |
| Trade debts | 44 | €17,537 | €44,968 | +€27,431 | +156% |
| Suppliers | 440/4 | €17,537 | €44,968 | +€27,431 | +156% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | - | €73 | +€73 | |
| Taxes | 450/3 | - | €73 | +€73 | |
| Other amounts payable | 47/48 | €848,526 | €1,282,268 | +€433,742 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €796 | €5,997 | +€5,201 | +654% |
| Other operating charges | 640/8 | €1,292 | €1,565 | +€273 | +21.2% |
| Gross operating margin | 9900 | -€121,264 | -€80,545 | +€40,720 | +33.6% |
| Operating profit (loss) | 9901 | -€123,352 | -€88,106 | +€35,246 | +28.6% |
| Financial income | 75/76B | €9,845 | €1,515 | -€8,330 | -84.6% |
| Recurring financial income | 75 | €9,845 | €1,515 | -€8,330 | -84.6% |
| Financial charges | 65/66B | €73,574 | €33,127 | -€40,447 | -55.0% |
| Recurring financial charges | 65 | €73,574 | €33,127 | -€40,447 | -55.0% |
| Profit (loss) for the period before taxes | 9903 | -€187,081 | -€119,718 | +€67,362 | +36.0% |
| Income taxes | 67/77 | €83 | €106 | +€22 | +26.8% |
| Profit (loss) for the period | 9904 | -€187,164 | -€119,824 | +€67,340 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€187,164 | -€119,824 | +€67,340 | +36.0% |
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 24 October 2026 via checked.be.