MINALE DESIGN STRATEGY: what changed
MINALE DESIGN STRATEGY
Largest movements
- Deferred charges and accrued income -€246,079
down €246,079 (-97.4%), from €252,712 to €6,633
- Cash +€197,198
up €197,198 (+47.4%), from €416,140 to €613,338
mainly Other debts (+€323,200) and Deferred charges and accrued income (+€246,079)
- Receivables within one year +€153,424
up €153,424 (+20.1%), from €762,737 to €916,161
of which Other amounts receivable: +€77,542
- Tangible fixed assets -€21,539
down €21,539 (-12.1%), from €177,725 to €156,186
of which Land and buildings: -€16,962
- Other debts +€323,200
up €323,200 (+55.8%), from €579,043 to €902,244
- Accrued charges and deferred income -€290,481
down €290,481 (-99.8%), from €291,193 to €713
- Trade debts +€60,298
up €60,298 (+14.2%), from €424,158 to €484,455
- Debts after one year -€31,952
down €31,952 (-17.7%), from €180,214 to €148,262
- Tax, wage and social debts +€21,585
up €21,585 (+21.9%), from €98,529 to €120,113
of which Remuneration and social security: +€26,644
- Staff costs +€84,349
up €84,349 (+23.5%), from €359,009 to €443,358
- Gross operating margin +€67,802
up €67,802 (+10.3%), from €657,068 to €724,870
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,612,794 | €1,695,798 | +€83,004 | +5.1% |
| Fixed assets | 21/28 | €181,205 | €159,666 | -€21,539 | -11.9% |
| Tangible fixed assets | 22/27 | €177,725 | €156,186 | -€21,539 | -12.1% |
| Land and buildings | 22 | €149,923 | €132,962 | -€16,962 | -11.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €27,802 | €23,225 | -€4,578 | -16.5% |
| Financial fixed assets | 28 | €3,480 | €3,480 | = | 0.0% |
| Current assets | 29/58 | €1,431,589 | €1,536,132 | +€104,543 | +7.3% |
| Amounts receivable within one year | 40/41 | €762,737 | €916,161 | +€153,424 | +20.1% |
| Trade receivables | 40 | €710,456 | €786,339 | +€75,882 | +10.7% |
| Other amounts receivable | 41 | €52,281 | €129,823 | +€77,542 | +148% |
| Cash at bank and in hand | 54/58 | €416,140 | €613,338 | +€197,198 | +47.4% |
| Deferred charges and accrued income | 490/1 | €252,712 | €6,633 | -€246,079 | -97.4% |
| Total equity and liabilities | 10/49 | €1,612,794 | €1,695,798 | +€83,004 | +5.1% |
| Equity | 10/15 | €8,059 | €8,059 | = | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,604,735 | €1,687,739 | +€83,004 | +5.2% |
| Amounts payable after more than one year | 17 | €180,214 | €148,262 | -€31,952 | -17.7% |
| Financial debts | 170/4 | €180,214 | €148,262 | -€31,952 | -17.7% |
| Amounts payable within one year | 42/48 | €1,133,328 | €1,538,764 | +€405,436 | +35.8% |
| Current portion of amounts payable after more than one year | 42 | €31,598 | €31,952 | +€354 | +1.1% |
| Trade debts | 44 | €424,158 | €484,455 | +€60,298 | +14.2% |
| Suppliers | 440/4 | €424,158 | €484,455 | +€60,298 | +14.2% |
| Taxes, remuneration and social security | 45 | €98,529 | €120,113 | +€21,585 | +21.9% |
| Taxes | 450/3 | €61,353 | €56,293 | -€5,060 | -8.2% |
| Remuneration and social security | 454/9 | €37,176 | €63,820 | +€26,644 | +71.7% |
| Other amounts payable | 47/48 | €579,043 | €902,244 | +€323,200 | +55.8% |
| Accrued charges and deferred income | 492/3 | €291,193 | €713 | -€290,481 | -99.8% |
| Remuneration, social security and pensions | 62 | €359,009 | €443,358 | +€84,349 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,797 | €36,809 | +€2,011 | +5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €7,614 | €978 | -€6,636 | -87.1% |
| Gross operating margin | 9900 | €657,068 | €724,870 | +€67,802 | +10.3% |
| Operating profit (loss) | 9901 | €255,647 | €243,724 | -€11,923 | -4.7% |
| Financial income | 75/76B | €192 | €17 | -€175 | -91.1% |
| Recurring financial income | 75 | €192 | €17 | -€175 | -91.1% |
| Financial charges | 65/66B | €3,768 | €3,272 | -€496 | -13.2% |
| Recurring financial charges | 65 | €3,768 | €3,272 | -€496 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €252,072 | €240,470 | -€11,602 | -4.6% |
| Income taxes | 67/77 | €65,025 | €61,724 | -€3,301 | -5.1% |
| Profit (loss) for the period | 9904 | €187,046 | €178,746 | -€8,300 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €187,046 | €178,746 | -€8,300 | -4.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.