MEMINI: 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.
MEMINI
Largest movements
- Tangible fixed assets +€509,321
up €509,321 (+90.5%), from €563,086 to €1.1m
of which Land and buildings: +€376,860
- Receivables within one year +€385,173
up €385,173 (+185.1%), from €208,088 to €593,261
of which Trade receivables: +€359,383
- Stocks and contracts +€152,801
up €152,801 (+89.7%), from €170,399 to €323,200
of which Stocks: +€165,687
- Cash -€28,444
down €28,444 (-100.0%), from €28,444 to €0
mainly Investment in fixed assets (net) (-€623,809) and Receivables within one year (-€385,173)
- Debts after one year +€442,917
up €442,917 (+117.0%), from €378,638 to €821,555
- Short-term financial debts +€301,684
up €301,684 (+241.3%), from €125,000 to €426,684
- Other debts +€152,663
up €152,663 (+234.7%), from €65,047 to €217,710
- Trade debts +€138,884
up €138,884 (+165.0%), from €84,194 to €223,078
- Profit (loss) carried forward -€50,747
down €50,747 (-100.0%), from €50,747 to €0
- Gross operating margin +€320,409
up €320,409 (+173.4%), from €184,737 to €505,146
- Staff costs +€194,186
up €194,186 (+1110.0%), from €17,493 to €211,679
- Financial charges +€22,142
up €22,142 (+146.5%), from €15,114 to €37,256
- Depreciation +€16,416
up €16,416 (+19.3%), from €84,902 to €101,317
- Taxes +€12,534
up €12,534 (+89.0%), from €14,082 to €26,616
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 | €970,017 | €2,002,039 | +€1.0m | +106.4% |
| Fixed assets | 21/28 | €563,086 | €1,085,578 | +€522,492 | +92.8% |
| Intangible fixed assets | 21 | - | €5,771 | +€5,771 | |
| Tangible fixed assets | 22/27 | €563,086 | €1,072,407 | +€509,321 | +90.5% |
| Land and buildings | 22 | €416,703 | €793,563 | +€376,860 | +90.4% |
| Plant, machinery and equipment | 23 | €66,361 | €101,854 | +€35,493 | +53.5% |
| Furniture and vehicles | 24 | €17,817 | €94,851 | +€77,033 | +432.4% |
| Leasing and similar rights | 25 | €62,205 | €82,140 | +€19,935 | +32.0% |
| Financial fixed assets | 28 | - | €7,400 | +€7,400 | |
| Current assets | 29/58 | €406,931 | €916,461 | +€509,530 | +125.2% |
| Stocks and contracts in progress | 3 | €170,399 | €323,200 | +€152,801 | +89.7% |
| Stocks | 30/36 | €125,513 | €291,200 | +€165,687 | +132.0% |
| Contracts in progress | 37 | €44,886 | €32,000 | -€12,886 | -28.7% |
| Amounts receivable within one year | 40/41 | €208,088 | €593,261 | +€385,173 | +185.1% |
| Trade receivables | 40 | €208,088 | €567,471 | +€359,383 | +172.7% |
| Other amounts receivable | 41 | - | €25,790 | +€25,790 | |
| Cash at bank and in hand | 54/58 | €28,444 | €0 | -€28,444 | -100.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €970,017 | €2,002,039 | +€1.0m | +106.4% |
| Equity | 10/15 | €219,188 | €168,440 | -€50,747 | -23.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €163,440 | €163,440 | = | 0.0% |
| Distributable reserves | 133 | €163,440 | €163,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,747 | €0 | -€50,747 | -100.0% |
| Amounts payable | 17/49 | €750,830 | €1,833,598 | +€1.1m | +144.2% |
| Amounts payable after more than one year | 17 | €378,638 | €821,555 | +€442,917 | +117.0% |
| Financial debts | 170/4 | €378,638 | €821,555 | +€442,917 | +117.0% |
| Amounts payable within one year | 42/48 | €369,635 | €1,009,487 | +€639,852 | +173.1% |
| Current portion of amounts payable after more than one year | 42 | €70,602 | €110,177 | +€39,575 | +56.1% |
| Financial debts | 43 | €125,000 | €426,684 | +€301,684 | +241.3% |
| Credit institutions | 430/8 | €125,000 | €426,684 | +€301,684 | +241.3% |
| Trade debts | 44 | €84,194 | €223,078 | +€138,884 | +165.0% |
| Suppliers | 440/4 | €84,194 | €223,078 | +€138,884 | +165.0% |
| Taxes, remuneration and social security | 45 | €24,792 | €31,838 | +€7,045 | +28.4% |
| Taxes | 450/3 | €23,141 | €13,857 | -€9,284 | -40.1% |
| Remuneration and social security | 454/9 | €1,651 | €17,981 | +€16,329 | +988.9% |
| Other amounts payable | 47/48 | €65,047 | €217,710 | +€152,663 | +234.7% |
| Accrued charges and deferred income | 492/3 | €2,557 | €2,557 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €17,493 | €211,679 | +€194,186 | +1110.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,902 | €101,317 | +€16,416 | +19.3% |
| Other operating charges | 640/8 | €2,420 | €6,483 | +€4,063 | +167.8% |
| Gross operating margin | 9900 | €184,737 | €505,146 | +€320,409 | +173.4% |
| Operating profit (loss) | 9901 | €79,921 | €185,667 | +€105,746 | +132.3% |
| Financial income | 75/76B | €22 | €62 | +€40 | +183.4% |
| Recurring financial income | 75 | €22 | €62 | +€40 | +183.4% |
| Financial charges | 65/66B | €15,114 | €37,256 | +€22,142 | +146.5% |
| Recurring financial charges | 65 | €15,114 | €37,256 | +€22,142 | +146.5% |
| Profit (loss) for the period before taxes | 9903 | €64,830 | €148,473 | +€83,643 | +129.0% |
| Income taxes | 67/77 | €14,082 | €26,616 | +€12,534 | +89.0% |
| Profit (loss) for the period | 9904 | €50,747 | €121,857 | +€71,110 | +140.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,747 | €121,857 | +€71,110 | +140.1% |
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 11 October 2026 via checked.be.