MILLO: 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.
MILLO
Largest movements
- Receivables within one year -€40,997
down €40,997 (-33.3%), from €122,930 to €81,933
of which Trade receivables: -€41,861
- Tangible fixed assets +€24,828
up €24,828 (+3.0%), from €839,945 to €864,773
of which Land and buildings: +€32,440
- Cash +€11,282
up €11,282 (+106.7%), from €10,576 to €21,859
mainly Receivables within one year (+€40,997) and Depreciation (+€32,669)
- Profit (loss) carried forward +€32,423
up €32,423 (+26.6%), from -€122,006 to -€89,583
- Debts after one year -€17,273
down €17,273 (-4.5%), from €386,217 to €368,944
of which Other amounts payable: -€10,000
- Reserves -€12,439
down €12,439 (-4.0%), from €310,044 to €297,605
of which Tax-exempt reserves: -€12,439
- Trade debts -€10,559
down €10,559 (-23.0%), from €45,991 to €35,432
- Gross operating margin -€118,625
down €118,625 (-64.2%), from €184,717 to €66,092
- Depreciation -€38,710
down €38,710 (-54.2%), from €71,379 to €32,669
- Other operating charges -€13,479
down €13,479 (-75.8%), from €17,788 to €4,309
- Financial charges +€9,168
up €9,168 (+171.6%), from €5,341 to €14,509
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 | €975,190 | €970,119 | -€5,070 | -0.5% |
| Fixed assets | 21/28 | €839,945 | €864,773 | +€24,828 | +3.0% |
| Tangible fixed assets | 22/27 | €839,945 | €864,773 | +€24,828 | +3.0% |
| Land and buildings | 22 | €805,069 | €837,508 | +€32,440 | +4.0% |
| Furniture and vehicles | 24 | €34,876 | €27,264 | -€7,612 | -21.8% |
| Current assets | 29/58 | €135,245 | €105,347 | -€29,898 | -22.1% |
| Amounts receivable within one year | 40/41 | €122,930 | €81,933 | -€40,997 | -33.3% |
| Trade receivables | 40 | €74,815 | €32,954 | -€41,861 | -56.0% |
| Other amounts receivable | 41 | €48,115 | €48,980 | +€864 | +1.8% |
| Cash at bank and in hand | 54/58 | €10,576 | €21,859 | +€11,282 | +106.7% |
| Deferred charges and accrued income | 490/1 | €1,738 | €1,554 | -€184 | -10.6% |
| Total equity and liabilities | 10/49 | €975,190 | €970,119 | -€5,070 | -0.5% |
| Equity | 10/15 | €363,038 | €383,021 | +€19,984 | +5.5% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €310,044 | €297,605 | -€12,439 | -4.0% |
| Tax-exempt reserves | 132 | €309,610 | €297,171 | -€12,439 | -4.0% |
| Distributable reserves | 133 | €434 | €434 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,006 | -€89,583 | +€32,423 | +26.6% |
| Provisions and deferred taxes | 16 | €123,409 | €118,112 | -€5,298 | -4.3% |
| Deferred taxes | 168 | €123,409 | €118,112 | -€5,298 | -4.3% |
| Amounts payable | 17/49 | €488,743 | €468,986 | -€19,756 | -4.0% |
| Amounts payable after more than one year | 17 | €386,217 | €368,944 | -€17,273 | -4.5% |
| Financial debts | 170/4 | €366,217 | €358,944 | -€7,273 | -2.0% |
| Other amounts payable | 178/9 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Amounts payable within one year | 42/48 | €102,525 | €100,042 | -€2,483 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €53,975 | €56,176 | +€2,201 | +4.1% |
| Trade debts | 44 | €45,991 | €35,432 | -€10,559 | -23.0% |
| Suppliers | 440/4 | €45,991 | €35,432 | -€10,559 | -23.0% |
| Taxes, remuneration and social security | 45 | - | €4,722 | +€4,722 | |
| Taxes | 450/3 | - | €4,722 | +€4,722 | |
| Other amounts payable | 47/48 | €2,559 | €3,711 | +€1,152 | +45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,379 | €32,669 | -€38,710 | -54.2% |
| Other operating charges | 640/8 | €17,788 | €4,309 | -€13,479 | -75.8% |
| Gross operating margin | 9900 | €184,717 | €66,092 | -€118,625 | -64.2% |
| Operating profit (loss) | 9901 | €95,549 | €29,113 | -€66,436 | -69.5% |
| Financial income | 75/76B | €2,090 | €960 | -€1,130 | -54.1% |
| Recurring financial income | 75 | €2,090 | €960 | -€1,130 | -54.1% |
| Financial charges | 65/66B | €5,341 | €14,509 | +€9,168 | +171.6% |
| Recurring financial charges | 65 | €5,341 | €14,509 | +€9,168 | +171.6% |
| Profit (loss) for the period before taxes | 9903 | €92,298 | €15,564 | -€76,734 | -83.1% |
| Transfer from deferred taxes | 780 | €10,522 | €5,298 | -€5,224 | -49.6% |
| Transfer to deferred taxes | 680 | €42,119 | - | -€42,119 | |
| Income taxes | 67/77 | €340 | €878 | +€538 | +158.1% |
| Profit (loss) for the period | 9904 | €60,361 | €19,984 | -€40,377 | -66.9% |
| Transfer from tax-exempt reserves | 789 | €27,162 | €12,439 | -€14,723 | -54.2% |
| Transfer to tax-exempt reserves | 689 | €126,356 | - | -€126,356 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,834 | €32,423 | +€71,256 |
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 8 October 2026 via checked.be.