MINALCO: 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.
MINALCO
Largest movements
- Stocks and contracts +€189,233
up €189,233 (+122%), from €155,147 to €344,380
- Receivables within one year -€50,286
down €50,286 (-24.2%), from €207,409 to €157,123
of which Trade receivables: -€34,261
- Cash +€17,484
up €17,484 (+5.0%), from €351,648 to €369,132
mainly Net result for the year (+€106,669) and Trade debts (+€59,110)
- Reserves +€106,669
up €106,669 (+18.6%), from €573,910 to €680,579
of which Distributable reserves: +€106,669
- Trade debts +€59,110
up €59,110 (+92.5%), from €63,889 to €122,998
- Other debts -€12,904
down €12,904 (-21.1%), from €61,207 to €48,303
- Gross operating margin +€6,282
up €6,282 (+3.6%), from €175,833 to €182,115
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 | €728,637 | €886,147 | +€157,511 | +21.6% |
| Fixed assets | 21/28 | €10,169 | €12,065 | +€1,896 | +18.6% |
| Intangible fixed assets | 21 | €9,496 | €9,864 | +€368 | +3.9% |
| Tangible fixed assets | 22/27 | €674 | €2,202 | +€1,528 | +227% |
| Furniture and vehicles | 24 | €674 | €2,202 | +€1,528 | +227% |
| Current assets | 29/58 | €718,468 | €874,082 | +€155,614 | +21.7% |
| Stocks and contracts in progress | 3 | €155,147 | €344,380 | +€189,233 | +122% |
| Stocks | 30/36 | €155,147 | €344,380 | +€189,233 | +122% |
| Amounts receivable within one year | 40/41 | €207,409 | €157,123 | -€50,286 | -24.2% |
| Trade receivables | 40 | €175,714 | €141,454 | -€34,261 | -19.5% |
| Other amounts receivable | 41 | €31,694 | €15,669 | -€16,025 | -50.6% |
| Cash at bank and in hand | 54/58 | €351,648 | €369,132 | +€17,484 | +5.0% |
| Deferred charges and accrued income | 490/1 | €4,264 | €3,448 | -€817 | -19.2% |
| Total equity and liabilities | 10/49 | €728,637 | €886,147 | +€157,511 | +21.6% |
| Equity | 10/15 | €592,460 | €699,129 | +€106,669 | +18.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €573,910 | €680,579 | +€106,669 | +18.6% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €572,055 | €678,724 | +€106,669 | +18.6% |
| Amounts payable | 17/49 | €136,176 | €187,018 | +€50,842 | +37.3% |
| Amounts payable within one year | 42/48 | €136,176 | €187,018 | +€50,842 | +37.3% |
| Trade debts | 44 | €63,889 | €122,998 | +€59,110 | +92.5% |
| Suppliers | 440/4 | €63,889 | €122,998 | +€59,110 | +92.5% |
| Taxes, remuneration and social security | 45 | €11,081 | €15,717 | +€4,636 | +41.8% |
| Taxes | 450/3 | €8,841 | €11,210 | +€2,369 | +26.8% |
| Remuneration and social security | 454/9 | €2,239 | €4,507 | +€2,267 | +101% |
| Other amounts payable | 47/48 | €61,207 | €48,303 | -€12,904 | -21.1% |
| Remuneration, social security and pensions | 62 | €32,036 | €32,453 | +€418 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,215 | €4,966 | +€751 | +17.8% |
| Other operating charges | 640/8 | €1,483 | €2,270 | +€788 | +53.1% |
| Gross operating margin | 9900 | €175,833 | €182,115 | +€6,282 | +3.6% |
| Operating profit (loss) | 9901 | €138,100 | €142,426 | +€4,326 | +3.1% |
| Financial income | 75/76B | €0 | €23 | +€23 | +115,350% |
| Recurring financial income | 75 | €0 | €23 | +€23 | +115,350% |
| Financial charges | 65/66B | €2,367 | €2,458 | +€91 | +3.8% |
| Recurring financial charges | 65 | €2,367 | €2,458 | +€91 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €135,732 | €139,991 | +€4,258 | +3.1% |
| Income taxes | 67/77 | €31,783 | €33,322 | +€1,539 | +4.8% |
| Profit (loss) for the period | 9904 | €103,949 | €106,669 | +€2,719 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €103,949 | €106,669 | +€2,719 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.