Minsky
Annual accounts 2025
abbreviated format, filed on 29-06-2026, 32 days before the deadline€443,361
▼ 1.1%
€2,405
▼ 14.8%
-€2,353
▲ €735
€118,096
▲ 1.6%
32.9%
▲ 1.5 percentage points
1.44
▲ 0.03
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.2m. Estimated: probably between €800,000 and €1.9m.
Balance sheet
balance sheet total €423,923 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
32.9%
Higher than 39% of 3,405 companies in 2025.
1.44
Higher than 40% of 3,266 companies in 2025.
-0.6%
Higher than 24% of 3,314 companies in 2025.
Minsky
Middle half of the sector
80% of the sector
Abbreviated accounts in computer programming and consultancy (NACE 62)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff
€59,666
Staff costs divided by the average number of full-time equivalents.
people who joined
people who left
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
423,923 | 451,184 | 420,241 | 295,654 | 444,783 | 392,588 | 248,113 | 208,783 | 103,186 | 111,818 | 79,078 | |
21/28 |
37,734 | 51,614 | 54,085 | 14,068 | 12,590 | 8,204 | 12,027 | 19,299 | 19,748 | 25,520 | 25,186 | |
21 |
1,938 | 2,449 | - | - | - | - | - | - | - | - | - | |
22/27 |
35,796 | 49,165 | 54,085 | 14,068 | 12,590 | 8,204 | 12,027 | 19,299 | 19,748 | 25,520 | 25,186 | |
23 |
- | 564 | 1,147 | 1,731 | - | 1,046 | 2,092 | - | - | - | 2,177 | |
24 |
30,071 | 42,210 | 52,937 | 12,337 | 11,557 | 5,092 | 6,836 | 15,167 | 19,748 | 25,520 | 23,010 | |
26 |
5,725 | 6,390 | - | - | 1,033 | 2,066 | 3,099 | 4,132 | - | - | - | |
29/58 |
386,190 | 399,570 | 366,156 | 281,586 | 432,193 | 384,384 | 236,086 | 189,484 | 83,438 | 86,299 | 53,892 | |
3 |
13,000 | - | - | - | - | - | - | - | - | - | - | |
37 |
13,000 | - | - | - | - | - | - | - | - | - | - | |
40/41 |
162,790 | 205,862 | 154,968 | 101,778 | 98,564 | 163,796 | 80,121 | 78,436 | 22,234 | 20,032 | 10,545 | |
40 |
154,335 | 197,646 | 125,115 | 101,312 | 98,112 | 133,461 | 64,027 | 70,586 | 22,234 | 20,032 | 10,545 | |
41 |
8,454 | 8,216 | 29,853 | 465 | 452 | 30,334 | 16,094 | 7,850 | - | - | - | |
54/58 |
209,693 | 189,614 | 206,236 | 177,213 | 330,237 | 219,345 | 152,785 | 108,392 | 56,482 | 60,661 | 43,346 | |
490/1 |
707 | 4,095 | 4,952 | 2,595 | 3,393 | 1,243 | 3,180 | 2,656 | 4,723 | 5,605 | - | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
423,923 | 451,184 | 420,241 | 295,654 | 444,783 | 392,588 | 248,113 | 208,783 | 103,186 | 111,818 | 79,078 | |
10/15 |
139,432 | 141,785 | 144,872 | 122,780 | 94,229 | 79,166 | 67,009 | 16,533 | 7,669 | 23,613 | 24,483 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | - | - | 6,200 | 6,200 | - | - | - | - | - | - | |
100 |
- | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
52,504 | 52,504 | 52,504 | 30,411 | 1,860 | 1,860 | 1,860 | 1,357 | 914 | 914 | 914 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,357 | 914 | 914 | 914 | |
133 |
52,504 | 52,504 | 52,504 | 28,551 | - | - | - | - | - | - | - | |
14 |
80,728 | 83,081 | 86,169 | 86,169 | 86,169 | 71,106 | 58,949 | 8,975 | 555 | 16,499 | 17,369 | |
17/49 |
284,491 | 309,399 | 275,368 | 172,874 | 350,554 | 313,422 | 181,103 | 192,250 | 95,517 | 88,205 | 54,595 | |
17 |
16,398 | 25,245 | 33,730 | - | - | - | - | - | 1,260 | 4,256 | - | |
170/4 |
16,398 | 25,245 | 33,730 | - | - | - | - | - | 1,260 | 4,256 | - | |
42/48 |
268,093 | 283,289 | 238,974 | 146,350 | 266,192 | 312,955 | 170,586 | 192,107 | 94,257 | 83,949 | 54,595 | |
42 |
8,847 | 8,485 | 8,139 | - | - | - | - | 1,260 | 2,996 | 2,959 | - | |
44 |
149,912 | 175,834 | 160,645 | 56,774 | 207,645 | 269,958 | 138,734 | 83,740 | 9,687 | 15,382 | 3,951 | |
440/4 |
149,912 | 175,834 | 160,645 | 56,774 | 207,645 | 269,958 | 138,734 | 83,740 | 9,687 | 15,382 | 3,951 | |
46 |
- | - | 3,697 | 5 | - | - | - | 4,206 | - | 3,272 | - | |
45 |
107,925 | 96,044 | 64,147 | 84,624 | 56,541 | 41,555 | 29,679 | 74,132 | 53,524 | 32,954 | 15,880 | |
450/3 |
26,295 | 18,794 | - | 32,808 | 14,315 | 849 | 291 | 3,643 | 4,709 | 5,843 | 10,181 | |
454/9 |
81,630 | 77,249 | 64,147 | 51,816 | 42,226 | 40,705 | 29,388 | 70,489 | 48,815 | 27,111 | 5,699 | |
47/48 |
1,409 | 2,926 | 2,346 | 4,947 | 2,005 | 1,442 | 2,173 | 28,770 | 28,050 | 29,382 | 34,763 | |
492/3 |
- | 865 | 2,665 | 26,523 | 84,363 | 467 | 10,517 | 143 | - | - | - | |
| Income statement | ||||||||||||
76A |
- | - | - | - | - | 600 | 5,343 | - | - | - | - | |
9900 |
443,361 | 448,338 | 385,123 | 336,619 | 257,177 | 212,626 | 241,323 | 105,632 | 43,762 | 41,387 | 39,437 | |
62 |
423,627 | 428,715 | 331,177 | 283,205 | 226,380 | 181,975 | 157,162 | 81,746 | 50,082 | 30,142 | 3,725 | |
630 |
15,474 | 16,326 | 9,821 | 5,854 | 6,048 | 6,053 | 6,722 | 11,589 | 8,564 | 9,810 | 7,344 | |
640/8 |
1,854 | 475 | 6,360 | 96 | 118 | 3,930 | 978 | 1,260 | 641 | 962 | 1,902 | |
9901 |
2,405 | 2,822 | 37,766 | 47,464 | 24,631 | 20,667 | 76,462 | 11,039 | -15,525 | 473 | 26,466 | |
75/76B |
59 | 54 | 5 | 27 | 5 | 5 | 1 | 3 | 3 | 66 | 3 | |
75 |
59 | 54 | 5 | 27 | 5 | 5 | 1 | 3 | 3 | 66 | 3 | |
65/66B |
1,664 | 1,899 | 891 | 386 | 329 | 166 | 695 | 748 | 276 | 341 | 145 | |
65 |
1,664 | 1,899 | 891 | 386 | 329 | 166 | 695 | 748 | 276 | 341 | 145 | |
9903 |
800 | 977 | 36,879 | 47,105 | 24,307 | 20,506 | 75,767 | 10,293 | -15,797 | 198 | 26,324 | |
67/77 |
3,152 | 4,065 | 14,787 | 18,554 | 9,244 | 8,349 | 25,291 | 1,430 | 147 | 1,068 | 8,040 | |
9904 |
-2,353 | -3,088 | 22,092 | 28,551 | 15,063 | 12,156 | 50,477 | 8,863 | -15,944 | -870 | 18,283 | |
9905 |
-2,353 | -3,088 | 22,092 | 28,551 | 15,063 | 12,156 | 50,477 | 8,863 | -15,944 | -870 | 18,283 | |
| Appropriation of the result | ||||||||||||
9906 |
80,728 | 83,081 | 108,261 | 114,720 | 86,169 | 71,106 | 59,452 | 9,418 | 555 | 16,499 | 18,283 | |
14P |
83,081 | 86,169 | 86,169 | 86,169 | 71,106 | - | - | - | - | - | - | |
691/2 |
- | - | 22,092 | 28,551 | - | - | 503 | 443 | - | - | 914 | |
6920 |
- | - | - | - | - | - | 503 | 443 | - | - | 914 | |
6921 |
- | - | 22,092 | 28,551 | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||
9087 |
7.1 | 7.3 | 5.8 | 5 | 5.1 | 4.4 | 3.5 | - | - | - | 0.2 | |
Hours worked1013 |
11,906 | 12,408 | 9,835 | 8,549 | 8,506 | 7,418 | 6,190 | - | - | - | 216 | |
| Document | ||||||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00212816 | |
| 31-12-2024 | abbreviated format | 28-07-2025 | 2025-00329722 | |
| 31-12-2023 | abbreviated format | 02-07-2024 | 2024-00193661 | |
| 31-12-2022 | abbreviated format | 27-07-2023 | 2023-00277246 | |
| 31-12-2021 | abbreviated format | 25-07-2022 | 2022-20221078 | |
| 31-12-2020 | abbreviated format | 05-08-2021 | 2021-46500184 | |
| 31-12-2019 | abbreviated format | 23-07-2020 | 2020-33500250 | |
| 31-12-2018 | abbreviated format | 30-07-2019 | 2019-41200516 | |
| 31-12-2017 | abbreviated format | 03-07-2018 | 2018-28600434 | |
| 31-12-2016 | abbreviated format | 25-07-2017 | 2017-35600206 | |
| 31-12-2015 | abbreviated format | 09-08-2016 | 2016-41300299 |
Subsidies and aid
Flemish government 2024, 1 entry, €915 awarded, €915 paid
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 17,879 | 19,148 | 47,586 | 53,318 | 30,679 | 26,720 | 83,184 | 22,627 | -6,961 | 10,282 | 33,811 | ||
| 13,121 | 13,238 | 31,913 | 34,405 | 21,112 | 18,210 | 57,199 | 20,452 | -7,380 | 8,940 | 25,628 | ||
| 1,594 | 13,855 | 49,837 | 7,332 | 10,434 | 2,231 | 6,897 | 11,139 | 2,793 | 10,143 | 32,531 | ||
| 20,079 | -16,622 | 29,023 | -153,024 | 110,891 | 66,561 | 44,393 | 51,910 | -4,180 | 17,315 | - | ||
| 118,096 | 116,281 | 127,183 | 135,235 | 166,002 | 71,428 | 65,500 | -2,623 | -10,819 | 2,350 | -703 | ||
| 32.9% | 31.4% | 34.5% | 41.5% | 21.2% | 20.2% | 27.0% | 7.9% | 7.4% | 21.1% | 31.0% | ||
| 1.44 | 1.41 | 1.53 | 1.92 | 1.62 | 1.23 | 1.38 | 0.99 | 0.89 | 1.03 | 0.99 | ||
| 1.39 | 1.41 | 1.53 | 1.92 | 1.62 | 1.23 | 1.38 | 0.99 | 0.89 | 1.03 | 0.99 | ||
| 2.04 | 2.18 | 1.90 | 1.41 | 3.72 | 3.96 | 2.70 | 11.63 | 12.45 | 3.74 | 2.23 | ||
| -1.7% | -2.2% | 15.2% | 23.3% | 16.0% | 15.4% | 75.3% | 53.6% | -207.9% | -3.7% | 74.7% | ||
| -0.6% | -0.7% | 5.3% | 9.7% | 3.4% | 3.1% | 20.3% | 4.2% | -15.5% | -0.8% | 23.1% | ||
| 10.75 | 10.09 | 53.40 | over 100 | 93.36 | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 8 | 6 | 5 | 5 |
| full-time | 7 | 7 | 6 | 5 | 4 |
| part-time | 1 | 1 | - | - | 1 |
| in full-time equivalents | 7.1 | 7.1 | 6 | 5 | 4.8 |
| 7.1 | 7.3 | 5.8 | 5 | 5.1 | |
| On a permanent contract | 8 | 8 | 6 | 5 | 5 |
| Joined | - | 3 | 1 | 2 | 1 |
| Left | - | 1 | 0 | 2 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,594 | €11,300 | €49,837 | €7,332 | €10,434 |
| Intangible fixed assets | - | €2,555 | - | - | - |
| €15,474 | €16,326 | €9,821 | €5,854 | €6,048 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on Minsky
The operating result for 2025 is 15% lower than in 2024 and the lowest since 2017. It is the third fall in a row.
Debt's share of the balance-sheet total falls from 68.6% to 67.1%. Equity and debt are lower.