MILLESIME CAPITAL: 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.
MILLESIME CAPITAL
Largest movements
- Stocks and contracts +€3.3m
up €3.3m (+236.7%), from €1.4m to €4.6m
- Receivables within one year -€230,585
down €230,585 (-81.9%), from €281,596 to €51,011
of which Other amounts receivable: -€180,976
- Cash +€94,585
up €94,585 (+528.0%), from €17,912 to €112,497
mainly Short-term financial debts (+€2.2m) and Other debts (+€1.2m)
- Short-term financial debts +€2.2m
up €2.2m (+218.4%), from €1.0m to €3.2m
- Other debts +€1.2m
up €1.2m (+29.1%), from €4.0m to €5.1m
- Profit (loss) carried forward -€174,824
down €174,824, from €41,287 to -€133,538
- Gross operating margin -€18,565
down €18,565 (-223.5%), from -€8,305 to -€26,869
- Financial charges +€9,402
up €9,402 (+7.4%), from €126,433 to €135,834
- Taxes -€5,908
down €5,908 (-98.7%), from €5,983 to €75
- Financial income -€2,532
down €2,532 (-85.0%), from €2,981 to €449
- Other operating charges +€1,980
up €1,980 (+176.5%), from €1,122 to €3,101
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 | €5,726,532 | €8,833,655 | +€3.1m | +54.3% |
| Fixed assets | 21/28 | €4,050,004 | €4,040,461 | -€9,542 | -0.2% |
| Intangible fixed assets | 21 | €2,483 | €483 | -€2,000 | -80.6% |
| Tangible fixed assets | 22/27 | €406,722 | €399,180 | -€7,542 | -1.9% |
| Land and buildings | 22 | €406,722 | €399,180 | -€7,542 | -1.9% |
| Financial fixed assets | 28 | €3,640,799 | €3,640,799 | = | 0.0% |
| Current assets | 29/58 | €1,676,528 | €4,793,194 | +€3.1m | +185.9% |
| Stocks and contracts in progress | 3 | €1,374,911 | €4,629,216 | +€3.3m | +236.7% |
| Stocks | 30/36 | €1,374,911 | €4,629,216 | +€3.3m | +236.7% |
| Amounts receivable within one year | 40/41 | €281,596 | €51,011 | -€230,585 | -81.9% |
| Trade receivables | 40 | €71,470 | €21,860 | -€49,609 | -69.4% |
| Other amounts receivable | 41 | €210,127 | €29,150 | -€180,976 | -86.1% |
| Cash at bank and in hand | 54/58 | €17,912 | €112,497 | +€94,585 | +528.0% |
| Deferred charges and accrued income | 490/1 | €2,109 | €471 | -€1,638 | -77.7% |
| Total equity and liabilities | 10/49 | €5,726,532 | €8,833,655 | +€3.1m | +54.3% |
| Equity | 10/15 | €60,335 | -€114,938 | -€175,272 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,287 | -€133,538 | -€174,824 | |
| Investment grants | 15 | €448 | - | -€448 | |
| Provisions and deferred taxes | 16 | €149 | - | -€149 | |
| Deferred taxes | 168 | €149 | - | -€149 | |
| Amounts payable | 17/49 | €5,666,048 | €8,948,593 | +€3.3m | +57.9% |
| Amounts payable after more than one year | 17 | €525,852 | €504,310 | -€21,542 | -4.1% |
| Financial debts | 170/4 | €525,852 | €504,310 | -€21,542 | -4.1% |
| Amounts payable within one year | 42/48 | €5,100,534 | €8,438,343 | +€3.3m | +65.4% |
| Current portion of amounts payable after more than one year | 42 | €21,039 | €21,542 | +€502 | +2.4% |
| Financial debts | 43 | €1,016,742 | €3,236,830 | +€2.2m | +218.4% |
| Credit institutions | 430/8 | €1,016,742 | €3,236,830 | +€2.2m | +218.4% |
| Trade debts | 44 | €78,788 | €35,989 | -€42,800 | -54.3% |
| Suppliers | 440/4 | €78,788 | €35,989 | -€42,800 | -54.3% |
| Taxes, remuneration and social security | 45 | €74 | €75 | +€1 | +1.0% |
| Taxes | 450/3 | €74 | €75 | +€1 | +1.0% |
| Other amounts payable | 47/48 | €3,983,890 | €5,143,907 | +€1.2m | +29.1% |
| Accrued charges and deferred income | 492/3 | €39,662 | €5,940 | -€33,722 | -85.0% |
| Non-recurring operating income | 76A | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,317 | €9,542 | +€225 | +2.4% |
| Other operating charges | 640/8 | €1,122 | €3,101 | +€1,980 | +176.5% |
| Gross operating margin | 9900 | -€8,305 | -€26,869 | -€18,565 | -223.5% |
| Operating profit (loss) | 9901 | -€18,743 | -€39,513 | -€20,770 | -110.8% |
| Financial income | 75/76B | €2,981 | €449 | -€2,532 | -85.0% |
| Recurring financial income | 75 | €2,981 | €449 | -€2,532 | -85.0% |
| Financial charges | 65/66B | €126,433 | €135,834 | +€9,402 | +7.4% |
| Recurring financial charges | 65 | €126,433 | €135,834 | +€9,402 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | -€142,195 | -€174,899 | -€32,704 | -23.0% |
| Transfer from deferred taxes | 780 | €149 | €149 | +€0 | 0.0% |
| Income taxes | 67/77 | €5,983 | €75 | -€5,908 | -98.7% |
| Profit (loss) for the period | 9904 | -€148,028 | -€174,824 | -€26,796 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€148,028 | -€174,824 | -€26,796 | -18.1% |
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 11 October 2026 via checked.be.