MILROSE: 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.
MILROSE
Largest movements
- Tangible fixed assets -€512,521
down €512,521 (-94.3%), from €543,330 to €30,809
of which Leasing and similar rights: -€505,398
- Cash +€47,656
up €47,656 (+127.5%), from €37,365 to €85,021
mainly Investment in fixed assets (net) (+€505,398) and Depreciation (+€7,124)
- Debts after one year -€372,097
no longer reported in 2025 (was €372,097)
- Profit (loss) carried forward -€27,714
down €27,714, from €4,496 to -€23,217
- Tax, wage and social debts -€23,928
down €23,928 (-33.2%), from €72,017 to €48,089
of which Remuneration and social security: -€14,071
- Other debts -€15,384
down €15,384 (-20.3%), from €75,940 to €60,556
- Current portion of long-term debt -€13,696
no longer reported in 2025 (was €13,696)
- Financial charges -€103,791
down €103,791 (-82.1%), from €126,401 to €22,610
of which Non-recurring financial charges: -€108,595
- Gross operating margin -€83,046
down €83,046 (-24.7%), from €336,027 to €252,981
- Staff costs -€78,930
down €78,930 (-29.5%), from €267,414 to €188,484
- Other operating charges +€61,231
up €61,231 (+4907.4%), from €1,248 to €62,479
- Depreciation -€17,527
down €17,527 (-71.1%), from €24,651 to €7,124
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 | €651,568 | €188,605 | -€462,963 | -71.1% |
| Fixed assets | 21/28 | €543,330 | €30,809 | -€512,521 | -94.3% |
| Tangible fixed assets | 22/27 | €543,330 | €30,809 | -€512,521 | -94.3% |
| Plant, machinery and equipment | 23 | €11,343 | €9,808 | -€1,535 | -13.5% |
| Furniture and vehicles | 24 | €26,589 | €21,001 | -€5,588 | -21.0% |
| Leasing and similar rights | 25 | €505,398 | - | -€505,398 | |
| Current assets | 29/58 | €108,238 | €157,796 | +€49,558 | +45.8% |
| Amounts receivable within one year | 40/41 | €70,873 | €72,775 | +€1,902 | +2.7% |
| Trade receivables | 40 | €70,873 | €72,775 | +€1,902 | +2.7% |
| Cash at bank and in hand | 54/58 | €37,365 | €85,021 | +€47,656 | +127.5% |
| Total equity and liabilities | 10/49 | €651,568 | €188,605 | -€462,963 | -71.1% |
| Equity | 10/15 | €95,446 | €67,733 | -€27,714 | -29.0% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €84,450 | €84,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €82,500 | €82,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €82,500 | €82,500 | = | 0.0% |
| Distributable reserves | 133 | €1,950 | €1,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,496 | -€23,217 | -€27,714 | |
| Amounts payable | 17/49 | €556,122 | €120,872 | -€435,250 | -78.3% |
| Amounts payable after more than one year | 17 | €372,097 | - | -€372,097 | |
| Financial debts | 170/4 | €372,097 | - | -€372,097 | |
| Amounts payable within one year | 42/48 | €172,025 | €108,872 | -€63,153 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €13,696 | - | -€13,696 | |
| Trade debts | 44 | €10,372 | €227 | -€10,146 | -97.8% |
| Suppliers | 440/4 | €10,372 | €227 | -€10,146 | -97.8% |
| Taxes, remuneration and social security | 45 | €72,017 | €48,089 | -€23,928 | -33.2% |
| Taxes | 450/3 | €22,233 | €12,376 | -€9,858 | -44.3% |
| Remuneration and social security | 454/9 | €49,784 | €35,713 | -€14,071 | -28.3% |
| Other amounts payable | 47/48 | €75,940 | €60,556 | -€15,384 | -20.3% |
| Accrued charges and deferred income | 492/3 | €12,000 | €12,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €267,414 | €188,484 | -€78,930 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,651 | €7,124 | -€17,527 | -71.1% |
| Other operating charges | 640/8 | €1,248 | €62,479 | +€61,231 | +4907.4% |
| Gross operating margin | 9900 | €336,027 | €252,981 | -€83,046 | -24.7% |
| Operating profit (loss) | 9901 | €42,715 | -€5,105 | -€47,820 | |
| Financial income | 75/76B | €277 | €1 | -€276 | -99.6% |
| Recurring financial income | 75 | €277 | €1 | -€276 | -99.6% |
| Financial charges | 65/66B | €126,401 | €22,610 | -€103,791 | -82.1% |
| Recurring financial charges | 65 | €17,806 | €22,610 | +€4,804 | +27.0% |
| Non-recurring financial charges | 66B | €108,595 | - | -€108,595 | |
| Profit (loss) for the period before taxes | 9903 | -€83,409 | -€27,714 | +€55,695 | +66.8% |
| Income taxes | 67/77 | -€5 | - | +€5 | |
| Profit (loss) for the period | 9904 | -€83,404 | -€27,714 | +€55,691 | +66.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,404 | -€27,714 | +€55,691 | +66.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.