Dr. Nesse Mintjens: 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.
Dr. Nesse Mintjens
Largest movements
- Cash +€119,556
up €119,556 (+66.4%), from €179,941 to €299,497
mainly Net result for the year (+€126,013) and Tax, wage and social debts (+€28,277)
- Tangible fixed assets +€18,032
up €18,032 (+130%), from €13,866 to €31,898
of which Plant, machinery and equipment: +€12,468
- Receivables after one year +€11,000
new in 2025: €11,000
- Receivables within one year +€10,305
up €10,305 (+157%), from €6,572 to €16,877
of which Other amounts receivable: +€10,305
- Reserves +€126,013
up €126,013 (+78.3%), from €160,959 to €286,971
- Tax, wage and social debts +€28,277
up €28,277 (+70.1%), from €40,359 to €68,636
- Trade debts +€7,569
up €7,569 (+1,068%), from €709 to €8,277
- Gross operating margin +€10,280
up €10,280 (+6.1%), from €168,120 to €178,400
- Depreciation +€3,931
up €3,931 (+186%), from €2,114 to €6,046
- Taxes +€3,790
up €3,790 (+10.2%), from €37,005 to €40,795
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 | €204,526 | €366,384 | +€161,858 | +79.1% |
| Fixed assets | 21/28 | €13,866 | €31,898 | +€18,032 | +130% |
| Tangible fixed assets | 22/27 | €13,866 | €31,898 | +€18,032 | +130% |
| Plant, machinery and equipment | 23 | €1,513 | €13,981 | +€12,468 | +824% |
| Furniture and vehicles | 24 | €12,353 | €17,917 | +€5,564 | +45.0% |
| Current assets | 29/58 | €190,660 | €334,487 | +€143,827 | +75.4% |
| Amounts receivable after more than one year | 29 | - | €11,000 | +€11,000 | |
| Other amounts receivable | 291 | - | €11,000 | +€11,000 | |
| Amounts receivable within one year | 40/41 | €6,572 | €16,877 | +€10,305 | +157% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €6,572 | €16,877 | +€10,305 | +157% |
| Cash at bank and in hand | 54/58 | €179,941 | €299,497 | +€119,556 | +66.4% |
| Deferred charges and accrued income | 490/1 | €4,146 | €7,112 | +€2,966 | +71.5% |
| Total equity and liabilities | 10/49 | €204,526 | €366,384 | +€161,858 | +79.1% |
| Equity | 10/15 | €163,459 | €289,471 | +€126,013 | +77.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €160,959 | €286,971 | +€126,013 | +78.3% |
| Distributable reserves | 133 | €160,959 | €286,971 | +€126,013 | +78.3% |
| Amounts payable | 17/49 | €41,067 | €76,913 | +€35,846 | +87.3% |
| Amounts payable within one year | 42/48 | €41,067 | €76,913 | +€35,846 | +87.3% |
| Trade debts | 44 | €709 | €8,277 | +€7,569 | +1,068% |
| Suppliers | 440/4 | €709 | €8,277 | +€7,569 | +1,068% |
| Taxes, remuneration and social security | 45 | €40,359 | €68,636 | +€28,277 | +70.1% |
| Taxes | 450/3 | €40,359 | €68,636 | +€28,277 | +70.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,114 | €6,046 | +€3,931 | +186% |
| Other operating charges | 640/8 | €599 | €611 | +€12 | +1.9% |
| Gross operating margin | 9900 | €168,120 | €178,400 | +€10,280 | +6.1% |
| Operating profit (loss) | 9901 | €165,406 | €171,743 | +€6,337 | +3.8% |
| Financial income | 75/76B | €0 | €528 | +€528 | |
| Recurring financial income | 75 | €0 | €528 | +€528 | |
| Financial charges | 65/66B | €6,129 | €5,464 | -€665 | -10.9% |
| Recurring financial charges | 65 | €6,129 | €5,464 | -€665 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €159,277 | €166,807 | +€7,531 | +4.7% |
| Income taxes | 67/77 | €37,005 | €40,795 | +€3,790 | +10.2% |
| Profit (loss) for the period | 9904 | €122,271 | €126,013 | +€3,741 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €122,271 | €126,013 | +€3,741 | +3.1% |
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 14 October 2026 via checked.be.