CONTRAST MINERVA: 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.
CONTRAST MINERVA
Largest movements
- Cash -€17,184
down €17,184 (-11.9%), from €143,910 to €126,726
mainly Contributions, distributions and other (-€102,388) and Debts after one year (-€33,316)
- Tangible fixed assets -€14,723
down €14,723 (-19.4%), from €75,988 to €61,265
- Debts after one year -€33,316
down €33,316 (-51.9%), from €64,190 to €30,875
No income-statement line moved by more than 1% of the activity.
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 | €221,961 | €188,067 | -€33,894 | -15.3% |
| Fixed assets | 21/28 | €75,988 | €61,265 | -€14,723 | -19.4% |
| Tangible fixed assets | 22/27 | €75,988 | €61,265 | -€14,723 | -19.4% |
| Land and buildings | 22 | €75,988 | €61,265 | -€14,723 | -19.4% |
| Current assets | 29/58 | €145,973 | €126,802 | -€19,171 | -13.1% |
| Amounts receivable within one year | 40/41 | €2,063 | €56 | -€2,007 | -97.3% |
| Other amounts receivable | 41 | €2,063 | €56 | -€2,007 | -97.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €143,910 | €126,726 | -€17,184 | -11.9% |
| Deferred charges and accrued income | 490/1 | €0 | €20 | +€20 | |
| Total equity and liabilities | 10/49 | €221,961 | €188,067 | -€33,894 | -15.3% |
| Equity | 10/15 | €21,454 | €21,458 | +€5 | 0.0% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €1,950 | €1,950 | = | 0.0% |
| Distributable reserves | 133 | €1,950 | €1,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4 | €8 | +€5 | +133.4% |
| Amounts payable | 17/49 | €200,507 | €166,609 | -€33,899 | -16.9% |
| Amounts payable after more than one year | 17 | €64,190 | €30,875 | -€33,316 | -51.9% |
| Financial debts | 170/4 | €64,190 | €30,875 | -€33,316 | -51.9% |
| Amounts payable within one year | 42/48 | €136,317 | €135,734 | -€583 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €32,938 | €33,316 | +€377 | +1.1% |
| Trade debts | 44 | €30 | €30 | = | 0.0% |
| Suppliers | 440/4 | €30 | €30 | = | 0.0% |
| Other amounts payable | 47/48 | €103,349 | €102,388 | -€960 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,591 | €27,653 | +€1,063 | +4.0% |
| Other operating charges | 640/8 | €15,337 | €15,793 | +€456 | +3.0% |
| Gross operating margin | 9900 | €180,098 | €180,415 | +€317 | +0.2% |
| Operating profit (loss) | 9901 | €138,170 | €136,968 | -€1,202 | -0.9% |
| Financial income | 75/76B | €1,095 | €623 | -€471 | -43.1% |
| Recurring financial income | 75 | €1,095 | €623 | -€471 | -43.1% |
| Financial charges | 65/66B | €1,446 | €1,068 | -€378 | -26.2% |
| Recurring financial charges | 65 | €1,446 | €1,068 | -€378 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €137,819 | €136,524 | -€1,295 | -0.9% |
| Income taxes | 67/77 | €34,473 | €34,131 | -€342 | -1.0% |
| Profit (loss) for the period | 9904 | €103,345 | €102,393 | -€952 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,345 | €102,393 | -€952 | -0.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.