JUST LET MINOT: 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.
JUST LET MINOT
Largest movements
- Receivables within one year +€27,082
up €27,082 (+33.8%), from €80,077 to €107,159
of which Trade receivables: +€27,082
- Cash -€16,793
down €16,793 (-70.8%), from €23,717 to €6,924
mainly Investment in fixed assets (net) (-€32,535) and Contributions, distributions and other (-€31,000)
- Tangible fixed assets +€15,932
up €15,932 (+69.7%), from €22,846 to €38,778
of which Furniture and vehicles: +€16,840
- Tax, wage and social debts +€26,256
up €26,256 (+60.2%), from €43,614 to €69,870
of which Taxes: +€21,148
- Debts after one year +€13,536
new in 2025: €13,536
- Trade debts -€11,407
down €11,407 (-39.7%), from €28,713 to €17,306
- Reserves -€6,606
down €6,606 (-15.5%), from €42,736 to €36,130
- Current portion of long-term debt +€3,223
up €3,223 (+112%), from €2,872 to €6,095
- Gross operating margin +€49,178
up €49,178 (+24.4%), from €201,878 to €251,055
- Staff costs +€33,179
up €33,179 (+21.4%), from €155,372 to €188,551
- Depreciation +€6,486
up €6,486 (+64.1%), from €10,117 to €16,602
- Other operating charges +€5,305
up €5,305 (+241%), from €2,200 to €7,506
- Taxes +€4,313
up €4,313 (+59.4%), from €7,260 to €11,573
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 | €127,855 | €154,176 | +€26,321 | +20.6% |
| Fixed assets | 21/28 | €23,521 | €39,453 | +€15,932 | +67.7% |
| Tangible fixed assets | 22/27 | €22,846 | €38,778 | +€15,932 | +69.7% |
| Plant, machinery and equipment | 23 | €1,259 | €488 | -€771 | -61.2% |
| Furniture and vehicles | 24 | €20,526 | €37,366 | +€16,840 | +82.0% |
| Other tangible fixed assets | 26 | €1,061 | €924 | -€137 | -12.9% |
| Financial fixed assets | 28 | €675 | €675 | = | 0.0% |
| Current assets | 29/58 | €104,334 | €114,723 | +€10,389 | +10.0% |
| Amounts receivable within one year | 40/41 | €80,077 | €107,159 | +€27,082 | +33.8% |
| Trade receivables | 40 | €80,028 | €107,110 | +€27,082 | +33.8% |
| Other amounts receivable | 41 | €49 | €49 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,717 | €6,924 | -€16,793 | -70.8% |
| Deferred charges and accrued income | 490/1 | €540 | €640 | +€100 | +18.5% |
| Total equity and liabilities | 10/49 | €127,855 | €154,176 | +€26,321 | +20.6% |
| Equity | 10/15 | €48,736 | €42,130 | -€6,606 | -13.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €42,736 | €36,130 | -€6,606 | -15.5% |
| Distributable reserves | 133 | €42,736 | €36,130 | -€6,606 | -15.5% |
| Amounts payable | 17/49 | €79,119 | €112,046 | +€32,927 | +41.6% |
| Amounts payable after more than one year | 17 | - | €13,536 | +€13,536 | |
| Financial debts | 170/4 | - | €13,536 | +€13,536 | |
| Amounts payable within one year | 42/48 | €79,119 | €98,510 | +€19,391 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €2,872 | €6,095 | +€3,223 | +112% |
| Trade debts | 44 | €28,713 | €17,306 | -€11,407 | -39.7% |
| Suppliers | 440/4 | €28,713 | €17,306 | -€11,407 | -39.7% |
| Taxes, remuneration and social security | 45 | €43,614 | €69,870 | +€26,256 | +60.2% |
| Taxes | 450/3 | €32,079 | €53,227 | +€21,148 | +65.9% |
| Remuneration and social security | 454/9 | €11,535 | €16,643 | +€5,108 | +44.3% |
| Other amounts payable | 47/48 | €3,921 | €5,239 | +€1,318 | +33.6% |
| Remuneration, social security and pensions | 62 | €155,372 | €188,551 | +€33,179 | +21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,117 | €16,602 | +€6,486 | +64.1% |
| Other operating charges | 640/8 | €2,200 | €7,506 | +€5,305 | +241% |
| Non-recurring operating charges | 66A | €5 | - | -€5 | |
| Gross operating margin | 9900 | €201,878 | €251,055 | +€49,178 | +24.4% |
| Operating profit (loss) | 9901 | €34,184 | €38,396 | +€4,212 | +12.3% |
| Financial income | 75/76B | €9 | €0 | -€9 | -99.9% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -99.9% |
| Financial charges | 65/66B | €1,801 | €2,429 | +€627 | +34.8% |
| Recurring financial charges | 65 | €1,801 | €2,429 | +€627 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €32,392 | €35,967 | +€3,576 | +11.0% |
| Income taxes | 67/77 | €7,260 | €11,573 | +€4,313 | +59.4% |
| Profit (loss) for the period | 9904 | €25,132 | €24,394 | -€737 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,132 | €24,394 | -€737 | -2.9% |
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 31 October 2026 via checked.be.