CASSANDRE MIGNEAUX: 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.
CASSANDRE MIGNEAUX
Largest movements
- Receivables within one year +€17,812
new in 2025: €17,812
- Cash -€2,616
down €2,616 (-10.6%), from €24,795 to €22,179
mainly Receivables within one year (-€17,812) and Tax, wage and social debts (-€3,631)
- Tangible fixed assets -€515
down €515 (-30.4%), from €1,694 to €1,179
- Reserves +€21,338
up €21,338 (+148%), from €14,381 to €35,719
- Tax, wage and social debts -€3,631
no longer reported in 2025 (was €3,631)
- Trade debts -€1,632
down €1,632 (-89.1%), from €1,832 to €200
- Other debts -€1,394
down €1,394 (-52.7%), from €2,644 to €1,250
- Gross operating margin +€10,426
up €10,426 (+57.8%), from €18,036 to €28,462
- Taxes +€2,057
up €2,057 (+56.7%), from €3,631 to €5,688
- Other operating charges +€787
new in 2025: €787
- Depreciation +€491
up €491 (+2,053%), from €24 to €515
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 | €26,489 | €41,169 | +€14,680 | +55.4% |
| Fixed assets | 21/28 | €1,694 | €1,179 | -€515 | -30.4% |
| Tangible fixed assets | 22/27 | €1,694 | €1,179 | -€515 | -30.4% |
| Plant, machinery and equipment | 23 | €1,694 | €1,179 | -€515 | -30.4% |
| Current assets | 29/58 | €24,795 | €39,990 | +€15,196 | +61.3% |
| Amounts receivable within one year | 40/41 | - | €17,812 | +€17,812 | |
| Other amounts receivable | 41 | - | €17,812 | +€17,812 | |
| Cash at bank and in hand | 54/58 | €24,795 | €22,179 | -€2,616 | -10.6% |
| Total equity and liabilities | 10/49 | €26,489 | €41,169 | +€14,680 | +55.4% |
| Equity | 10/15 | €18,381 | €39,719 | +€21,338 | +116% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Contributions outside capital | 11 | €4,000 | €4,000 | = | 0.0% |
| Other | 1109/19 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €14,381 | €35,719 | +€21,338 | +148% |
| Distributable reserves | 133 | €14,381 | €35,719 | +€21,338 | +148% |
| Amounts payable | 17/49 | €8,107 | €1,450 | -€6,657 | -82.1% |
| Amounts payable within one year | 42/48 | €8,107 | €1,450 | -€6,657 | -82.1% |
| Trade debts | 44 | €1,832 | €200 | -€1,632 | -89.1% |
| Suppliers | 440/4 | €1,832 | €200 | -€1,632 | -89.1% |
| Taxes, remuneration and social security | 45 | €3,631 | - | -€3,631 | |
| Taxes | 450/3 | €3,631 | - | -€3,631 | |
| Other amounts payable | 47/48 | €2,644 | €1,250 | -€1,394 | -52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24 | €515 | +€491 | +2,053% |
| Other operating charges | 640/8 | - | €787 | +€787 | |
| Gross operating margin | 9900 | €18,036 | €28,462 | +€10,426 | +57.8% |
| Operating profit (loss) | 9901 | €18,012 | €27,160 | +€9,147 | +50.8% |
| Financial charges | 65/66B | - | €134 | +€134 | |
| Recurring financial charges | 65 | - | €134 | +€134 | |
| Profit (loss) for the period before taxes | 9903 | €18,012 | €27,026 | +€9,014 | +50.0% |
| Income taxes | 67/77 | €3,631 | €5,688 | +€2,057 | +56.7% |
| Profit (loss) for the period | 9904 | €14,381 | €21,338 | +€6,956 | +48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,381 | €21,338 | +€6,956 | +48.4% |
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 13 October 2026 via checked.be.