MINBRA: 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.
MINBRA
Largest movements
- Cash -€11,627
down €11,627 (-97.6%), from €11,919 to €291
mainly Trade debts (-€29,189) and Accrued charges and deferred income (-€15,416)
- Tangible fixed assets -€7,615
down €7,615 (-41.1%), from €18,547 to €10,932
of which Furniture and vehicles: -€7,063
- Receivables within one year +€4,672
up €4,672 (+2.5%), from €184,116 to €188,788
of which Other amounts receivable: +€34,554
- Trade debts -€29,189
down €29,189 (-31.5%), from €92,623 to €63,434
- Profit (loss) carried forward +€25,066
up €25,066 (+37.5%), from €66,769 to €91,836
- Accrued charges and deferred income -€15,416
no longer reported in 2025 (was €15,416)
- Tax, wage and social debts +€9,076
up €9,076 (+102%), from €8,867 to €17,943
of which Remuneration and social security: +€4,809
- Debts after one year -€4,138
down €4,138 (-24.7%), from €16,752 to €12,614
- Gross operating margin +€18,717
up €18,717 (+67.2%), from €27,842 to €46,559
- Staff costs -€5,931
no longer reported in 2025 (was €5,931)
- Taxes +€5,919
up €5,919 (+235%), from €2,520 to €8,439
- Other operating charges +€2,525
up €2,525 (+106%), from €2,376 to €4,901
- Financial charges -€1,158
down €1,158 (-51.5%), from €2,248 to €1,090
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 | €214,932 | €200,491 | -€14,440 | -6.7% |
| Fixed assets | 21/28 | €18,897 | €11,412 | -€7,485 | -39.6% |
| Tangible fixed assets | 22/27 | €18,547 | €10,932 | -€7,615 | -41.1% |
| Furniture and vehicles | 24 | €17,994 | €10,932 | -€7,063 | -39.2% |
| Assets under construction and advance payments | 27 | €553 | - | -€553 | |
| Financial fixed assets | 28 | €350 | €480 | +€130 | +37.1% |
| Current assets | 29/58 | €196,035 | €189,079 | -€6,955 | -3.5% |
| Amounts receivable within one year | 40/41 | €184,116 | €188,788 | +€4,672 | +2.5% |
| Trade receivables | 40 | €140,613 | €110,731 | -€29,882 | -21.3% |
| Other amounts receivable | 41 | €43,503 | €78,058 | +€34,554 | +79.4% |
| Cash at bank and in hand | 54/58 | €11,919 | €291 | -€11,627 | -97.6% |
| Total equity and liabilities | 10/49 | €214,932 | €200,491 | -€14,440 | -6.7% |
| Equity | 10/15 | €77,269 | €102,336 | +€25,066 | +32.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,769 | €91,836 | +€25,066 | +37.5% |
| Amounts payable | 17/49 | €137,662 | €98,155 | -€39,507 | -28.7% |
| Amounts payable after more than one year | 17 | €16,752 | €12,614 | -€4,138 | -24.7% |
| Financial debts | 170/4 | €16,752 | €12,614 | -€4,138 | -24.7% |
| Amounts payable within one year | 42/48 | €105,495 | €85,541 | -€19,953 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €4,005 | €4,164 | +€160 | +4.0% |
| Trade debts | 44 | €92,623 | €63,434 | -€29,189 | -31.5% |
| Suppliers | 440/4 | €92,623 | €63,434 | -€29,189 | -31.5% |
| Taxes, remuneration and social security | 45 | €8,867 | €17,943 | +€9,076 | +102% |
| Taxes | 450/3 | €6,952 | €11,218 | +€4,266 | +61.4% |
| Remuneration and social security | 454/9 | €1,915 | €6,725 | +€4,809 | +251% |
| Accrued charges and deferred income | 492/3 | €15,416 | - | -€15,416 | |
| Remuneration, social security and pensions | 62 | €5,931 | - | -€5,931 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,269 | €7,063 | -€206 | -2.8% |
| Other operating charges | 640/8 | €2,376 | €4,901 | +€2,525 | +106% |
| Gross operating margin | 9900 | €27,842 | €46,559 | +€18,717 | +67.2% |
| Operating profit (loss) | 9901 | €12,266 | €34,595 | +€22,329 | +182% |
| Financial income | 75/76B | €24 | €0 | -€24 | -99.9% |
| Recurring financial income | 75 | €24 | €0 | -€24 | -99.9% |
| Financial charges | 65/66B | €2,248 | €1,090 | -€1,158 | -51.5% |
| Recurring financial charges | 65 | €2,248 | €1,090 | -€1,158 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €10,043 | €33,506 | +€23,463 | +234% |
| Income taxes | 67/77 | €2,520 | €8,439 | +€5,919 | +235% |
| Profit (loss) for the period | 9904 | €7,523 | €25,066 | +€17,544 | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €7,523 | €25,066 | +€17,544 | +233% |
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 23 October 2026 via checked.be.