APOTHEEK MINERVA: 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.
APOTHEEK MINERVA
Largest movements
- Tangible fixed assets +€1.4m
up €1.4m (+1,639%), from €84,057 to €1.5m
of which Land and buildings: +€1.4m
- Intangible fixed assets -€31,500
down €31,500 (-17.8%), from €176,784 to €145,284
- Receivables within one year +€20,865
up €20,865 (+31.8%), from €65,554 to €86,419
of which Trade receivables: +€21,194
- Debts after one year +€1.3m
up €1.3m (+510%), from €258,527 to €1.6m
- Current portion of long-term debt +€45,860
up €45,860 (+107%), from €42,966 to €88,826
- Gross operating margin +€71,384
up €71,384 (+37.1%), from €192,415 to €263,799
- Financial charges +€22,477
up €22,477 (+173%), from €12,999 to €35,475
- Other operating charges +€22,062
up €22,062 (+1,491%), from €1,479 to €23,541
- Depreciation +€20,556
up €20,556 (+46.5%), from €44,164 to €64,720
- Staff costs +€8,461
up €8,461 (+6.1%), from €137,740 to €146,201
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.
Derived cash bridge
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 | €445,169 | €1,823,380 | +€1.4m | +310% |
| Fixed assets | 21/28 | €260,841 | €1,607,299 | +€1.3m | +516% |
| Intangible fixed assets | 21 | €176,784 | €145,284 | -€31,500 | -17.8% |
| Tangible fixed assets | 22/27 | €84,057 | €1,462,015 | +€1.4m | +1,639% |
| Land and buildings | 22 | €2,622 | €1,360,203 | +€1.4m | +51,770% |
| Plant, machinery and equipment | 23 | €78,313 | €66,829 | -€11,484 | -14.7% |
| Furniture and vehicles | 24 | €3,122 | €34,983 | +€31,861 | +1,021% |
| Current assets | 29/58 | €184,329 | €216,081 | +€31,752 | +17.2% |
| Stocks and contracts in progress | 3 | €104,187 | €99,783 | -€4,404 | -4.2% |
| Stocks | 30/36 | €104,187 | €99,783 | -€4,404 | -4.2% |
| Amounts receivable within one year | 40/41 | €65,554 | €86,419 | +€20,865 | +31.8% |
| Trade receivables | 40 | €65,220 | €86,414 | +€21,194 | +32.5% |
| Other amounts receivable | 41 | €334 | €5 | -€329 | -98.4% |
| Cash at bank and in hand | 54/58 | €8,213 | €19,268 | +€11,055 | +135% |
| Deferred charges and accrued income | 490/1 | €6,374 | €10,611 | +€4,237 | +66.5% |
| Total equity and liabilities | 10/49 | €445,169 | €1,823,380 | +€1.4m | +310% |
| Equity | 10/15 | €48,550 | €43,010 | -€5,540 | -11.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,450 | -€6,990 | -€5,540 | -382% |
| Amounts payable | 17/49 | €396,619 | €1,780,370 | +€1.4m | +349% |
| Amounts payable after more than one year | 17 | €258,527 | €1,577,359 | +€1.3m | +510% |
| Financial debts | 170/4 | €258,527 | €1,577,359 | +€1.3m | +510% |
| Amounts payable within one year | 42/48 | €134,169 | €197,803 | +€63,634 | +47.4% |
| Current portion of amounts payable after more than one year | 42 | €42,966 | €88,826 | +€45,860 | +107% |
| Trade debts | 44 | €38,304 | €51,628 | +€13,324 | +34.8% |
| Suppliers | 440/4 | €38,304 | €51,628 | +€13,324 | +34.8% |
| Taxes, remuneration and social security | 45 | €12,500 | €18,616 | +€6,117 | +48.9% |
| Taxes | 450/3 | €1,218 | €2,888 | +€1,670 | +137% |
| Remuneration and social security | 454/9 | €11,281 | €15,728 | +€4,447 | +39.4% |
| Other amounts payable | 47/48 | €40,400 | €38,732 | -€1,667 | -4.1% |
| Accrued charges and deferred income | 492/3 | €3,923 | €5,208 | +€1,285 | +32.8% |
| Remuneration, social security and pensions | 62 | €137,740 | €146,201 | +€8,461 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,164 | €64,720 | +€20,556 | +46.5% |
| Other operating charges | 640/8 | €1,479 | €23,541 | +€22,062 | +1,491% |
| Gross operating margin | 9900 | €192,415 | €263,799 | +€71,384 | +37.1% |
| Operating profit (loss) | 9901 | €9,032 | €29,337 | +€20,305 | +225% |
| Financial income | 75/76B | €746 | €598 | -€147 | -19.8% |
| Recurring financial income | 75 | €746 | €598 | -€147 | -19.8% |
| Financial charges | 65/66B | €12,999 | €35,475 | +€22,477 | +173% |
| Recurring financial charges | 65 | €12,999 | €35,475 | +€22,477 | +173% |
| Profit (loss) for the period before taxes | 9903 | -€3,221 | -€5,540 | -€2,319 | -72.0% |
| Profit (loss) for the period | 9904 | -€3,221 | -€5,540 | -€2,319 | -72.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,221 | -€5,540 | -€2,319 | -72.0% |
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 23 October 2026 via checked.be.