MINABO: 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.
MINABO
Largest movements
- Receivables within one year +€120,313
up €120,313 (+341.0%), from €35,281 to €155,594
of which Other amounts receivable: +€82,744
- Tangible fixed assets -€34,236
down €34,236 (-4.7%), from €734,657 to €700,421
of which Land and buildings: -€30,460
- Reserves +€110,560
up €110,560 (+107.2%), from €103,116 to €213,676
- Debts after one year -€68,017
down €68,017 (-13.3%), from €510,662 to €442,645
- Accrued charges and deferred income +€36,749
up €36,749 (+1449.2%), from €2,536 to €39,285
- Trade debts -€22,528
down €22,528 (-54.2%), from €41,539 to €19,011
- Tax, wage and social debts +€15,968
up €15,968 (+32.5%), from €49,074 to €65,042
- Gross operating margin +€163,455
up €163,455 (+214.7%), from €76,138 to €239,593
- Taxes +€32,954
up €32,954 (+222.1%), from €14,841 to €47,795
- Depreciation +€29,348
up €29,348 (+173.1%), from €16,956 to €46,304
- Financial charges +€13,412
up €13,412 (+90.4%), from €14,831 to €28,243
- Other operating charges +€6,395
up €6,395 (+142.6%), from €4,484 to €10,879
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €770,717 | €857,125 | +€86,409 | +11.2% |
| Fixed assets | 21/28 | €734,657 | €700,421 | -€34,236 | -4.7% |
| Tangible fixed assets | 22/27 | €734,657 | €700,421 | -€34,236 | -4.7% |
| Land and buildings | 22 | €723,940 | €693,480 | -€30,460 | -4.2% |
| Plant, machinery and equipment | 23 | €5,174 | €4,091 | -€1,083 | -20.9% |
| Furniture and vehicles | 24 | €5,543 | €2,850 | -€2,693 | -48.6% |
| Current assets | 29/58 | €36,060 | €156,704 | +€120,644 | +334.6% |
| Amounts receivable within one year | 40/41 | €35,281 | €155,594 | +€120,313 | +341.0% |
| Trade receivables | 40 | €25,052 | €62,621 | +€37,569 | +150.0% |
| Other amounts receivable | 41 | €10,229 | €92,973 | +€82,744 | +808.9% |
| Cash at bank and in hand | 54/58 | - | €9 | +€9 | |
| Deferred charges and accrued income | 490/1 | €778 | €1,100 | +€322 | +41.4% |
| Total equity and liabilities | 10/49 | €770,717 | €857,125 | +€86,409 | +11.2% |
| Equity | 10/15 | €121,716 | €232,276 | +€110,560 | +90.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,116 | €213,676 | +€110,560 | +107.2% |
| Distributable reserves | 133 | €103,116 | €213,676 | +€110,560 | +107.2% |
| Amounts payable | 17/49 | €649,001 | €624,849 | -€24,152 | -3.7% |
| Amounts payable after more than one year | 17 | €510,662 | €442,645 | -€68,017 | -13.3% |
| Financial debts | 170/4 | €510,662 | €442,645 | -€68,017 | -13.3% |
| Amounts payable within one year | 42/48 | €135,803 | €142,920 | +€7,117 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €39,322 | €41,782 | +€2,461 | +6.3% |
| Financial debts | 43 | €4,869 | €9,994 | +€5,125 | +105.3% |
| Credit institutions | 430/8 | €4,869 | €9,994 | +€5,125 | +105.3% |
| Trade debts | 44 | €41,539 | €19,011 | -€22,528 | -54.2% |
| Suppliers | 440/4 | €41,539 | €19,011 | -€22,528 | -54.2% |
| Taxes, remuneration and social security | 45 | €49,074 | €65,042 | +€15,968 | +32.5% |
| Taxes | 450/3 | €49,074 | €65,042 | +€15,968 | +32.5% |
| Other amounts payable | 47/48 | €1,000 | €7,090 | +€6,090 | +609.0% |
| Accrued charges and deferred income | 492/3 | €2,536 | €39,285 | +€36,749 | +1449.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,956 | €46,304 | +€29,348 | +173.1% |
| Other operating charges | 640/8 | €4,484 | €10,879 | +€6,395 | +142.6% |
| Gross operating margin | 9900 | €76,138 | €239,593 | +€163,455 | +214.7% |
| Operating profit (loss) | 9901 | €54,697 | €182,410 | +€127,712 | +233.5% |
| Financial income | 75/76B | €432 | €4,188 | +€3,756 | +868.4% |
| Recurring financial income | 75 | €432 | €4,188 | +€3,756 | +868.4% |
| Financial charges | 65/66B | €14,831 | €28,243 | +€13,412 | +90.4% |
| Recurring financial charges | 65 | €14,831 | €28,243 | +€13,412 | +90.4% |
| Profit (loss) for the period before taxes | 9903 | €40,299 | €158,355 | +€118,056 | +293.0% |
| Income taxes | 67/77 | €14,841 | €47,795 | +€32,954 | +222.1% |
| Profit (loss) for the period | 9904 | €25,458 | €110,560 | +€85,102 | +334.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,458 | €110,560 | +€85,102 | +334.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.