MILLA: 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.
MILLA
Largest movements
- Cash +€565,405
up €565,405 (+72.2%), from €782,611 to €1.3m
mainly Investment in fixed assets (net) (+€317,457) and Net result for the year (+€88,288)
- Tangible fixed assets -€399,454
down €399,454 (-12.5%), from €3.2m to €2.8m
of which Land and buildings: -€398,956
- Receivables within one year -€58,034
down €58,034 (-89.0%), from €65,181 to €7,146
of which Other amounts receivable: -€31,740
- Reserves +€83,843
new in 2025: €83,843
- Gross operating margin +€133,117
up €133,117 (+136.3%), from €97,696 to €230,813
- Depreciation -€10,307
down €10,307 (-10.9%), from €94,481 to €84,174
- Financial income -€6,111
down €6,111 (-30.9%), from €19,800 to €13,688
- Taxes -€3,284
down €3,284, from €0 to -€3,284
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 | €4,433,299 | €4,539,404 | +€106,105 | +2.4% |
| Fixed assets | 21/28 | €3,202,589 | €2,800,957 | -€401,632 | -12.5% |
| Tangible fixed assets | 22/27 | €3,200,217 | €2,800,763 | -€399,454 | -12.5% |
| Land and buildings | 22 | €3,198,997 | €2,800,041 | -€398,956 | -12.5% |
| Furniture and vehicles | 24 | €1,220 | €722 | -€498 | -40.8% |
| Financial fixed assets | 28 | €2,372 | €194 | -€2,178 | -91.8% |
| Current assets | 29/58 | €1,230,710 | €1,738,447 | +€507,737 | +41.3% |
| Stocks and contracts in progress | 3 | €375,192 | €375,192 | = | 0.0% |
| Stocks | 30/36 | €375,192 | €375,192 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €65,181 | €7,146 | -€58,034 | -89.0% |
| Trade receivables | 40 | €29,023 | €2,728 | -€26,294 | -90.6% |
| Other amounts receivable | 41 | €36,158 | €4,418 | -€31,740 | -87.8% |
| Cash at bank and in hand | 54/58 | €782,611 | €1,348,016 | +€565,405 | +72.2% |
| Deferred charges and accrued income | 490/1 | €7,726 | €8,092 | +€366 | +4.7% |
| Total equity and liabilities | 10/49 | €4,433,299 | €4,539,404 | +€106,105 | +2.4% |
| Equity | 10/15 | €4,418,975 | €4,507,262 | +€88,288 | +2.0% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Reserves | 13 | - | €83,843 | +€83,843 | |
| Tax-exempt reserves | 132 | - | €83,843 | +€83,843 | |
| Profit (loss) carried forward | 14 | -€581,025 | -€576,580 | +€4,445 | +0.8% |
| Provisions and deferred taxes | 16 | - | €27,948 | +€27,948 | |
| Deferred taxes | 168 | - | €27,948 | +€27,948 | |
| Amounts payable | 17/49 | €14,324 | €4,194 | -€10,130 | -70.7% |
| Amounts payable within one year | 42/48 | €14,324 | €4,194 | -€10,130 | -70.7% |
| Trade debts | 44 | €3,340 | €3,301 | -€39 | -1.2% |
| Suppliers | 440/4 | €3,340 | €3,301 | -€39 | -1.2% |
| Taxes, remuneration and social security | 45 | €6,617 | €793 | -€5,824 | -88.0% |
| Taxes | 450/3 | €6,617 | €793 | -€5,824 | -88.0% |
| Other amounts payable | 47/48 | €4,367 | €100 | -€4,267 | -97.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €111,791 | +€111,791 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,481 | €84,174 | -€10,307 | -10.9% |
| Other operating charges | 640/8 | €13,902 | €14,276 | +€374 | +2.7% |
| Non-recurring operating charges | 66A | €20,767 | €32,955 | +€12,188 | +58.7% |
| Gross operating margin | 9900 | €97,696 | €230,813 | +€133,117 | +136.3% |
| Operating profit (loss) | 9901 | -€31,454 | €99,408 | +€130,862 | |
| Financial income | 75/76B | €19,800 | €13,688 | -€6,111 | -30.9% |
| Recurring financial income | 75 | €19,800 | €13,688 | -€6,111 | -30.9% |
| Financial charges | 65/66B | €88 | €145 | +€57 | +65.4% |
| Recurring financial charges | 65 | €88 | €145 | +€57 | +65.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,742 | €112,951 | +€124,694 | |
| Transfer to deferred taxes | 680 | - | €27,948 | +€27,948 | |
| Income taxes | 67/77 | €0 | -€3,284 | -€3,284 | |
| Profit (loss) for the period | 9904 | -€11,742 | €88,288 | +€100,030 | |
| Transfer to tax-exempt reserves | 689 | - | €83,843 | +€83,843 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,742 | €4,445 | +€16,187 |
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 29 September 2026 via checked.be.