MILENNIUM: 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.
MILENNIUM
Largest movements
- Tangible fixed assets -€20,601
down €20,601 (-6.8%), from €301,053 to €280,452
- Receivables within one year -€16,959
down €16,959 (-79.0%), from €21,480 to €4,521
of which Trade receivables: -€10,571
- Stocks and contracts +€14,307
new in 2025: €14,307
- Cash -€11,670
down €11,670 (-56.1%), from €20,791 to €9,121
mainly Net result for the year (-€65,601) and Debts after one year (-€29,069)
- Financial fixed assets -€6,455
down €6,455 (-98.2%), from €6,573 to €118
- Profit (loss) carried forward -€65,601
new in 2025: -€65,601
- Debts after one year -€29,069
down €29,069 (-18.2%), from €160,028 to €130,960
- Trade debts +€23,855
up €23,855 (+126%), from €18,925 to €42,779
- Other debts +€22,875
up €22,875 (+116,712%), from €20 to €22,895
- Short-term financial debts +€13,407
up €13,407 (+193%), from €6,963 to €20,370
- Gross operating margin -€73,993
down €73,993, from €55,791 to -€18,202
- Taxes +€12,974
up €12,974, from -€2,605 to €10,369
- Financial charges +€6,876
up €6,876 (+55.3%), from €12,426 to €19,302
- Other operating charges -€1,168
down €1,168 (-35.8%), from €3,260 to €2,092
- Depreciation -€726
down €726 (-4.7%), from €15,379 to €14,653
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 | €387,814 | €341,470 | -€46,344 | -12.0% |
| Fixed assets | 21/28 | €307,626 | €280,570 | -€27,056 | -8.8% |
| Tangible fixed assets | 22/27 | €301,053 | €280,452 | -€20,601 | -6.8% |
| Land and buildings | 22 | €263,566 | €257,291 | -€6,276 | -2.4% |
| Plant, machinery and equipment | 23 | €7,756 | €1,313 | -€6,443 | -83.1% |
| Furniture and vehicles | 24 | €29,730 | €21,849 | -€7,881 | -26.5% |
| Financial fixed assets | 28 | €6,573 | €118 | -€6,455 | -98.2% |
| Current assets | 29/58 | €80,188 | €60,900 | -€19,289 | -24.1% |
| Stocks and contracts in progress | 3 | - | €14,307 | +€14,307 | |
| Contracts in progress | 37 | - | €14,307 | +€14,307 | |
| Amounts receivable within one year | 40/41 | €21,480 | €4,521 | -€16,959 | -79.0% |
| Trade receivables | 40 | €12,130 | €1,559 | -€10,571 | -87.1% |
| Other amounts receivable | 41 | €9,350 | €2,962 | -€6,388 | -68.3% |
| Cash at bank and in hand | 54/58 | €20,791 | €9,121 | -€11,670 | -56.1% |
| Deferred charges and accrued income | 490/1 | €37,918 | €32,951 | -€4,967 | -13.1% |
| Total equity and liabilities | 10/49 | €387,814 | €341,470 | -€46,344 | -12.0% |
| Equity | 10/15 | €181,368 | €115,767 | -€65,601 | -36.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €162,768 | €162,768 | = | 0.0% |
| Distributable reserves | 133 | €162,768 | €162,768 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€65,601 | -€65,601 | |
| Amounts payable | 17/49 | €206,446 | €225,703 | +€19,257 | +9.3% |
| Amounts payable after more than one year | 17 | €160,028 | €130,960 | -€29,069 | -18.2% |
| Financial debts | 170/4 | €160,028 | €130,960 | -€29,069 | -18.2% |
| Amounts payable within one year | 42/48 | €46,417 | €94,743 | +€48,326 | +104% |
| Current portion of amounts payable after more than one year | 42 | €9,102 | €8,698 | -€404 | -4.4% |
| Financial debts | 43 | €6,963 | €20,370 | +€13,407 | +193% |
| Other loans | 439 | €6,963 | €20,370 | +€13,407 | +193% |
| Trade debts | 44 | €18,925 | €42,779 | +€23,855 | +126% |
| Suppliers | 440/4 | €18,925 | €42,779 | +€23,855 | +126% |
| Taxes, remuneration and social security | 45 | €11,407 | - | -€11,407 | |
| Taxes | 450/3 | €11,407 | - | -€11,407 | |
| Other amounts payable | 47/48 | €20 | €22,895 | +€22,875 | +116,712% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,379 | €14,653 | -€726 | -4.7% |
| Other operating charges | 640/8 | €3,260 | €2,092 | -€1,168 | -35.8% |
| Non-recurring operating charges | 66A | - | €989 | +€989 | |
| Gross operating margin | 9900 | €55,791 | -€18,202 | -€73,993 | |
| Operating profit (loss) | 9901 | €37,152 | -€35,937 | -€73,088 | |
| Financial income | 75/76B | €278 | €6 | -€272 | -97.7% |
| Recurring financial income | 75 | €278 | €6 | -€272 | -97.7% |
| Financial charges | 65/66B | €12,426 | €19,302 | +€6,876 | +55.3% |
| Recurring financial charges | 65 | €12,426 | €19,302 | +€6,876 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | €25,004 | -€55,232 | -€80,236 | |
| Income taxes | 67/77 | -€2,605 | €10,369 | +€12,974 | |
| Profit (loss) for the period | 9904 | €27,609 | -€65,601 | -€93,210 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,609 | -€65,601 | -€93,210 |
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 22 October 2026 via checked.be.