MINANI: 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.
MINANI
Largest movements
- Stocks and contracts +€38,651
up €38,651 (+14.1%), from €273,876 to €312,527
- Tangible fixed assets -€20,099
down €20,099 (-5.1%), from €393,995 to €373,896
of which Land and buildings: -€12,583
- Receivables within one year +€11,418
up €11,418 (+34.9%), from €32,682 to €44,100
of which Trade receivables: +€36,234
- Profit (loss) carried forward +€32,825
up €32,825 (+18.0%), from €182,460 to €215,285
- Debts after one year -€21,201
down €21,201 (-8.8%), from €240,767 to €219,565
- Trade debts +€14,444
up €14,444 (+9.1%), from €158,873 to €173,317
- Tax, wage and social debts -€10,619
down €10,619 (-67.9%), from €15,633 to €5,014
of which Taxes: -€8,250
- Other debts +€7,630
up €7,630 (+28.6%), from €26,724 to €34,354
- Turnover +€375,485
up €375,485 (+23.4%), from €1.6m to €2.0m
- Purchases and services +€296,845
up €296,845 (+21.3%), from €1.4m to €1.7m
- Staff costs +€83,112
up €83,112 (+86.9%), from €95,612 to €178,724
- Gross operating margin +€78,640
up €78,640 (+37.6%), from €209,107 to €287,747
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 | €710,356 | €732,413 | +€22,057 | +3.1% |
| Fixed assets | 21/28 | €394,461 | €374,362 | -€20,099 | -5.1% |
| Tangible fixed assets | 22/27 | €393,995 | €373,896 | -€20,099 | -5.1% |
| Land and buildings | 22 | €374,135 | €361,552 | -€12,583 | -3.4% |
| Plant, machinery and equipment | 23 | €7,220 | €6,359 | -€861 | -11.9% |
| Furniture and vehicles | 24 | €2,095 | €353 | -€1,742 | -83.1% |
| Other tangible fixed assets | 26 | €10,545 | €5,631 | -€4,914 | -46.6% |
| Financial fixed assets | 28 | €465 | €465 | = | 0.0% |
| Current assets | 29/58 | €315,895 | €358,052 | +€42,157 | +13.3% |
| Stocks and contracts in progress | 3 | €273,876 | €312,527 | +€38,651 | +14.1% |
| Stocks | 30/36 | €273,876 | €312,527 | +€38,651 | +14.1% |
| Amounts receivable within one year | 40/41 | €32,682 | €44,100 | +€11,418 | +34.9% |
| Trade receivables | 40 | €366 | €36,600 | +€36,234 | +9,910% |
| Other amounts receivable | 41 | €32,316 | €7,500 | -€24,817 | -76.8% |
| Cash at bank and in hand | 54/58 | €5,007 | €1,426 | -€3,581 | -71.5% |
| Deferred charges and accrued income | 490/1 | €4,331 | - | -€4,331 | |
| Total equity and liabilities | 10/49 | €710,356 | €732,413 | +€22,057 | +3.1% |
| Equity | 10/15 | €202,920 | €235,745 | +€32,825 | +16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €182,460 | €215,285 | +€32,825 | +18.0% |
| Amounts payable | 17/49 | €507,436 | €496,668 | -€10,768 | -2.1% |
| Amounts payable after more than one year | 17 | €240,767 | €219,565 | -€21,201 | -8.8% |
| Financial debts | 170/4 | €240,767 | €219,565 | -€21,201 | -8.8% |
| Amounts payable within one year | 42/48 | €266,669 | €277,103 | +€10,434 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €20,859 | €21,201 | +€342 | +1.6% |
| Financial debts | 43 | €44,579 | €43,216 | -€1,363 | -3.1% |
| Credit institutions | 430/8 | €44,579 | €43,216 | -€1,363 | -3.1% |
| Trade debts | 44 | €158,873 | €173,317 | +€14,444 | +9.1% |
| Suppliers | 440/4 | €158,873 | €173,317 | +€14,444 | +9.1% |
| Taxes, remuneration and social security | 45 | €15,633 | €5,014 | -€10,619 | -67.9% |
| Taxes | 450/3 | €12,958 | €4,708 | -€8,250 | -63.7% |
| Remuneration and social security | 454/9 | €2,675 | €306 | -€2,369 | -88.6% |
| Other amounts payable | 47/48 | €26,724 | €34,354 | +€7,630 | +28.6% |
| Turnover | 70 | €1,602,109 | €1,977,595 | +€375,485 | +23.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,393,003 | €1,689,848 | +€296,845 | +21.3% |
| Remuneration, social security and pensions | 62 | €95,612 | €178,724 | +€83,112 | +86.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,086 | €23,099 | -€3,986 | -14.7% |
| Other operating charges | 640/8 | €11,339 | €29,059 | +€17,720 | +156% |
| Gross operating margin | 9900 | €209,107 | €287,747 | +€78,640 | +37.6% |
| Operating profit (loss) | 9901 | €75,070 | €56,865 | -€18,205 | -24.3% |
| Financial income | 75/76B | €5,022 | €251 | -€4,770 | -95.0% |
| Recurring financial income | 75 | €5,022 | €251 | -€4,770 | -95.0% |
| Non-recurring financial income | 76B | €5,022 | - | -€5,022 | |
| Financial charges | 65/66B | €10,009 | €16,235 | +€6,226 | +62.2% |
| Recurring financial charges | 65 | €10,009 | €16,235 | +€6,226 | +62.2% |
| Profit (loss) for the period before taxes | 9903 | €70,083 | €40,881 | -€29,202 | -41.7% |
| Income taxes | 67/77 | €26,864 | €8,056 | -€18,807 | -70.0% |
| Profit (loss) for the period | 9904 | €43,220 | €32,825 | -€10,395 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,220 | €32,825 | -€10,395 | -24.1% |
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 25 October 2026 via checked.be.