MINAS TIRITH: 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.
MINAS TIRITH
Largest movements
- Tangible fixed assets -€10,418
down €10,418 (-13.7%), from €76,079 to €65,661
- Cash -€4,941
down €4,941 (-63.5%), from €7,780 to €2,839
mainly Net result for the year (-€10,892) and Debts after one year (-€5,774)
- Receivables within one year +€2,672
up €2,672 (+15.2%), from €17,589 to €20,260
of which Other amounts receivable: +€2,672
- Profit (loss) carried forward -€10,892
down €10,892 (-8.0%), from -€135,925 to -€146,817
- Debts after one year -€5,774
down €5,774 (-30.0%), from €19,221 to €13,447
- Trade debts +€2,620
up €2,620 (+180.6%), from €1,451 to €4,072
- Gross operating margin -€10,707
down €10,707 (-84.5%), from €12,665 to €1,958
- Depreciation +€3,665
up €3,665 (+54.3%), from €6,753 to €10,418
- Other operating charges -€1,157
down €1,157 (-71.5%), from €1,619 to €462
- Financial charges +€1,132
up €1,132 (+135.0%), from €838 to €1,970
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 | €101,510 | €88,761 | -€12,749 | -12.6% |
| Fixed assets | 21/28 | €76,079 | €65,661 | -€10,418 | -13.7% |
| Tangible fixed assets | 22/27 | €76,079 | €65,661 | -€10,418 | -13.7% |
| Land and buildings | 22 | €56,363 | €52,553 | -€3,810 | -6.8% |
| Plant, machinery and equipment | 23 | €5,886 | €4,477 | -€1,409 | -23.9% |
| Furniture and vehicles | 24 | €13,830 | €8,631 | -€5,199 | -37.6% |
| Current assets | 29/58 | €25,430 | €23,099 | -€2,331 | -9.2% |
| Amounts receivable within one year | 40/41 | €17,589 | €20,260 | +€2,672 | +15.2% |
| Trade receivables | 40 | €2,279 | €2,279 | = | 0.0% |
| Other amounts receivable | 41 | €15,309 | €17,981 | +€2,672 | +17.5% |
| Cash at bank and in hand | 54/58 | €7,780 | €2,839 | -€4,941 | -63.5% |
| Deferred charges and accrued income | 490/1 | €62 | - | -€62 | |
| Total equity and liabilities | 10/49 | €101,510 | €88,761 | -€12,749 | -12.6% |
| Equity | 10/15 | €74,963 | €64,071 | -€10,892 | -14.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €192,296 | €192,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,296 | €3,296 | = | 0.0% |
| Legal reserve | 130 | €3,296 | €3,296 | = | 0.0% |
| Distributable reserves | 133 | €189,000 | €189,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,925 | -€146,817 | -€10,892 | -8.0% |
| Amounts payable | 17/49 | €26,547 | €24,689 | -€1,857 | -7.0% |
| Amounts payable after more than one year | 17 | €19,221 | €13,447 | -€5,774 | -30.0% |
| Financial debts | 170/4 | €19,221 | €13,447 | -€5,774 | -30.0% |
| Amounts payable within one year | 42/48 | €7,326 | €11,242 | +€3,917 | +53.5% |
| Current portion of amounts payable after more than one year | 42 | €5,427 | €5,774 | +€347 | +6.4% |
| Trade debts | 44 | €1,451 | €4,072 | +€2,620 | +180.6% |
| Suppliers | 440/4 | €1,451 | €4,072 | +€2,620 | +180.6% |
| Other amounts payable | 47/48 | €448 | €1,397 | +€949 | +211.9% |
| Non-recurring operating income | 76A | €100 | - | -€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,753 | €10,418 | +€3,665 | +54.3% |
| Other operating charges | 640/8 | €1,619 | €462 | -€1,157 | -71.5% |
| Non-recurring operating charges | 66A | €5,940 | - | -€5,940 | |
| Gross operating margin | 9900 | €12,665 | €1,958 | -€10,707 | -84.5% |
| Operating profit (loss) | 9901 | -€1,647 | -€8,922 | -€7,275 | -441.8% |
| Financial charges | 65/66B | €838 | €1,970 | +€1,132 | +135.0% |
| Recurring financial charges | 65 | €838 | €1,970 | +€1,132 | +135.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,485 | -€10,892 | -€8,407 | -338.3% |
| Profit (loss) for the period | 9904 | -€2,485 | -€10,892 | -€8,407 | -338.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,485 | -€10,892 | -€8,407 | -338.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.