MILLAU: what changed
MILLAU
Largest movements
- Cash -€21,701
down €21,701 (-99.7%), from €21,763 to €62
mainly Net result for the year (-€60,110) and Other debts (-€29,910)
- Receivables within one year +€18,263
up €18,263 (+11.0%), from €166,561 to €184,824
of which Other amounts receivable: +€121,521
- Tangible fixed assets -€12,408
no longer reported in 2025 (was €12,408)
- Deferred charges and accrued income -€4,533
no longer reported in 2025 (was €4,533)
- Trade debts +€90,142
up €90,142 (+1,199%), from €7,519 to €97,661
- Reserves -€60,110
down €60,110 (-66.7%), from €90,063 to €29,953
- Other debts -€29,910
down €29,910 (-90.4%), from €33,071 to €3,162
- Tax, wage and social debts -€16,386
down €16,386 (-88.6%), from €18,496 to €2,110
- Current portion of long-term debt -€4,115
no longer reported in 2025 (was €4,115)
- Gross operating margin -€148,886
down €148,886, from €92,254 to -€56,632
- Staff costs -€77,129
no longer reported in 2025 (was €77,129)
- Depreciation -€9,090
no longer reported in 2025 (was €9,090)
- Taxes -€1,971
no longer reported in 2025 (was €1,971)
- Other operating charges +€1,387
up €1,387 (+75.4%), from €1,840 to €3,227
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €205,265 | €184,886 | -€20,378 | -9.9% |
| Fixed assets | 21/28 | €12,408 | - | -€12,408 | |
| Tangible fixed assets | 22/27 | €12,408 | - | -€12,408 | |
| Furniture and vehicles | 24 | €12,408 | - | -€12,408 | |
| Current assets | 29/58 | €192,857 | €184,886 | -€7,971 | -4.1% |
| Amounts receivable within one year | 40/41 | €166,561 | €184,824 | +€18,263 | +11.0% |
| Trade receivables | 40 | €106,132 | €2,874 | -€103,258 | -97.3% |
| Other amounts receivable | 41 | €60,429 | €181,951 | +€121,521 | +201% |
| Cash at bank and in hand | 54/58 | €21,763 | €62 | -€21,701 | -99.7% |
| Deferred charges and accrued income | 490/1 | €4,533 | - | -€4,533 | |
| Total equity and liabilities | 10/49 | €205,265 | €184,886 | -€20,378 | -9.9% |
| Equity | 10/15 | €142,063 | €81,953 | -€60,110 | -42.3% |
| Contributions | 10/11 | €52,000 | €52,000 | = | 0.0% |
| Reserves | 13 | €90,063 | €29,953 | -€60,110 | -66.7% |
| Distributable reserves | 133 | €90,063 | €29,953 | -€60,110 | -66.7% |
| Amounts payable | 17/49 | €63,202 | €102,933 | +€39,732 | +62.9% |
| Amounts payable within one year | 42/48 | €63,202 | €102,933 | +€39,732 | +62.9% |
| Current portion of amounts payable after more than one year | 42 | €4,115 | - | -€4,115 | |
| Trade debts | 44 | €7,519 | €97,661 | +€90,142 | +1,199% |
| Suppliers | 440/4 | €7,519 | €97,661 | +€90,142 | +1,199% |
| Taxes, remuneration and social security | 45 | €18,496 | €2,110 | -€16,386 | -88.6% |
| Taxes | 450/3 | €18,496 | €2,110 | -€16,386 | -88.6% |
| Other amounts payable | 47/48 | €33,071 | €3,162 | -€29,910 | -90.4% |
| Remuneration, social security and pensions | 62 | €77,129 | - | -€77,129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,090 | - | -€9,090 | |
| Other operating charges | 640/8 | €1,840 | €3,227 | +€1,387 | +75.4% |
| Non-recurring operating charges | 66A | €237 | - | -€237 | |
| Gross operating margin | 9900 | €92,254 | -€56,632 | -€148,886 | |
| Operating profit (loss) | 9901 | €3,959 | -€59,858 | -€63,818 | |
| Financial income | 75/76B | €1,325 | - | -€1,325 | |
| Recurring financial income | 75 | €1,325 | - | -€1,325 | |
| Financial charges | 65/66B | €1,159 | €252 | -€907 | -78.3% |
| Recurring financial charges | 65 | €1,159 | €252 | -€907 | -78.3% |
| Profit (loss) for the period before taxes | 9903 | €4,126 | -€60,110 | -€64,236 | |
| Income taxes | 67/77 | €1,971 | - | -€1,971 | |
| Profit (loss) for the period | 9904 | €2,155 | -€60,110 | -€62,265 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,155 | -€60,110 | -€62,265 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.