Millon: 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.
Millon
Largest movements
- Cash -€428,611
down €428,611 (-49.6%), from €864,378 to €435,767
mainly Stocks and contracts (-€281,562) and Receivables within one year (-€279,153)
- Stocks and contracts +€281,562
up €281,562 (+41.4%), from €679,569 to €961,131
- Receivables within one year +€279,153
up €279,153 (+17.0%), from €1.6m to €1.9m
of which Trade receivables: +€279,153
- Tangible fixed assets -€219,373
down €219,373 (-32.2%), from €682,043 to €462,670
of which Furniture and vehicles: -€189,586
- Current investments -€99,676
down €99,676 (-66.3%), from €150,317 to €50,641
- Profit (loss) carried forward +€103,177
up €103,177 (+8.5%), from €1.2m to €1.3m
- Tax, wage and social debts -€92,654
down €92,654 (-45.5%), from €203,430 to €110,776
of which Taxes: -€65,120
- Debts after one year -€89,795
down €89,795 (-39.6%), from €226,886 to €137,091
- Trade debts -€79,836
down €79,836 (-6.9%), from €1.2m to €1.1m
- Staff costs +€81,461
up €81,461 (+10.8%), from €757,335 to €838,796
- Gross operating margin +€67,602
up €67,602 (+5.9%), from €1.1m to €1.2m
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 | €4,041,434 | €3,855,699 | -€185,735 | -4.6% |
| Fixed assets | 21/28 | €692,912 | €471,361 | -€221,550 | -32.0% |
| Tangible fixed assets | 22/27 | €682,043 | €462,670 | -€219,373 | -32.2% |
| Land and buildings | 22 | €78,834 | €78,834 | = | 0.0% |
| Plant, machinery and equipment | 23 | €111,511 | €81,725 | -€29,786 | -26.7% |
| Furniture and vehicles | 24 | €491,698 | €302,111 | -€189,586 | -38.6% |
| Financial fixed assets | 28 | €10,869 | €8,691 | -€2,178 | -20.0% |
| Current assets | 29/58 | €3,348,522 | €3,384,338 | +€35,815 | +1.1% |
| Stocks and contracts in progress | 3 | €679,569 | €961,131 | +€281,562 | +41.4% |
| Stocks | 30/36 | €679,569 | €961,131 | +€281,562 | +41.4% |
| Amounts receivable within one year | 40/41 | €1,637,324 | €1,916,477 | +€279,153 | +17.0% |
| Trade receivables | 40 | €1,501,846 | €1,780,999 | +€279,153 | +18.6% |
| Other amounts receivable | 41 | €135,478 | €135,478 | = | 0.0% |
| Current investments | 50/53 | €150,317 | €50,641 | -€99,676 | -66.3% |
| Cash at bank and in hand | 54/58 | €864,378 | €435,767 | -€428,611 | -49.6% |
| Deferred charges and accrued income | 490/1 | €16,935 | €20,322 | +€3,387 | +20.0% |
| Total equity and liabilities | 10/49 | €4,041,434 | €3,855,699 | -€185,735 | -4.6% |
| Equity | 10/15 | €2,299,236 | €2,402,412 | +€103,177 | +4.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,024,950 | €1,024,950 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,212,286 | €1,315,462 | +€103,177 | +8.5% |
| Amounts payable | 17/49 | €1,742,199 | €1,453,287 | -€288,912 | -16.6% |
| Amounts payable after more than one year | 17 | €226,886 | €137,091 | -€89,795 | -39.6% |
| Financial debts | 170/4 | €226,886 | €137,091 | -€89,795 | -39.6% |
| Amounts payable within one year | 42/48 | €1,515,313 | €1,316,196 | -€199,117 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €109,138 | €89,795 | -€19,344 | -17.7% |
| Trade debts | 44 | €1,154,176 | €1,074,340 | -€79,836 | -6.9% |
| Suppliers | 440/4 | €1,154,176 | €1,074,340 | -€79,836 | -6.9% |
| Advances received on contracts in progress | 46 | - | €200 | +€200 | |
| Taxes, remuneration and social security | 45 | €203,430 | €110,776 | -€92,654 | -45.5% |
| Taxes | 450/3 | €154,260 | €89,140 | -€65,120 | -42.2% |
| Remuneration and social security | 454/9 | €49,170 | €21,636 | -€27,534 | -56.0% |
| Other amounts payable | 47/48 | €48,570 | €41,086 | -€7,484 | -15.4% |
| Non-recurring operating income | 76A | €49,650 | - | -€49,650 | |
| Remuneration, social security and pensions | 62 | €757,335 | €838,796 | +€81,461 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,954 | €219,373 | -€3,581 | -1.6% |
| Other operating charges | 640/8 | €12,494 | €10,207 | -€2,287 | -18.3% |
| Gross operating margin | 9900 | €1,141,792 | €1,209,394 | +€67,602 | +5.9% |
| Operating profit (loss) | 9901 | €149,009 | €141,018 | -€7,991 | -5.4% |
| Financial income | 75/76B | €14,175 | €14,177 | +€2 | 0.0% |
| Recurring financial income | 75 | €14,175 | €14,177 | +€2 | 0.0% |
| Financial charges | 65/66B | €11,853 | €15,393 | +€3,540 | +29.9% |
| Recurring financial charges | 65 | €11,853 | €15,393 | +€3,540 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €151,332 | €139,803 | -€11,529 | -7.6% |
| Income taxes | 67/77 | €37,684 | €36,626 | -€1,058 | -2.8% |
| Profit (loss) for the period | 9904 | €113,648 | €103,177 | -€10,471 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €113,648 | €103,177 | -€10,471 | -9.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.