MINDE: 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.
MINDE
Largest movements
- Intangible fixed assets +€9,841
new in 2025: €9,841
- Deferred charges and accrued income +€8,767
up €8,767 (+881%), from €995 to €9,762
- Tangible fixed assets -€7,053
down €7,053 (-33.6%), from €20,977 to €13,924
of which Furniture and vehicles: -€6,238
- Receivables within one year +€6,422
up €6,422 (+74.3%), from €8,639 to €15,060
of which Trade receivables: +€15,060
- Cash +€5,427
up €5,427 (+144%), from €3,779 to €9,206
mainly Net result for the year (+€48,753) and Tax, wage and social debts (+€24,383)
- Tax, wage and social debts +€24,383
up €24,383 (+945%), from €2,580 to €26,963
- Debts after one year +€6,388
new in 2025: €6,388
- Contributions -€6,100
down €6,100 (-98.4%), from €6,200 to €100
- Other debts +€5,517
new in 2025: €5,517
- Profit (loss) carried forward -€4,644
down €4,644 (-34.7%), from €13,397 to €8,753
- Gross operating margin +€66,173
up €66,173 (+556%), from €11,896 to €78,069
- Taxes +€17,875
up €17,875 (+1,062%), from €1,683 to €19,558
- Financial charges +€1,307
up €1,307 (+326%), from €401 to €1,708
- Depreciation -€836
down €836 (-9.9%), from €8,488 to €7,651
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 | €34,439 | €57,843 | +€23,404 | +68.0% |
| Fixed assets | 21/28 | €21,027 | €23,815 | +€2,788 | +13.3% |
| Intangible fixed assets | 21 | - | €9,841 | +€9,841 | |
| Tangible fixed assets | 22/27 | €20,977 | €13,924 | -€7,053 | -33.6% |
| Furniture and vehicles | 24 | €17,962 | €11,724 | -€6,238 | -34.7% |
| Other tangible fixed assets | 26 | €3,014 | €2,199 | -€815 | -27.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €13,413 | €34,029 | +€20,616 | +154% |
| Amounts receivable within one year | 40/41 | €8,639 | €15,060 | +€6,422 | +74.3% |
| Trade receivables | 40 | - | €15,060 | +€15,060 | |
| Other amounts receivable | 41 | €8,639 | - | -€8,639 | |
| Cash at bank and in hand | 54/58 | €3,779 | €9,206 | +€5,427 | +144% |
| Deferred charges and accrued income | 490/1 | €995 | €9,762 | +€8,767 | +881% |
| Total equity and liabilities | 10/49 | €34,439 | €57,843 | +€23,404 | +68.0% |
| Equity | 10/15 | €21,457 | €8,853 | -€12,604 | -58.7% |
| Contributions | 10/11 | €6,200 | €100 | -€6,100 | -98.4% |
| Reserves | 13 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €13,397 | €8,753 | -€4,644 | -34.7% |
| Amounts payable | 17/49 | €12,982 | €48,990 | +€36,008 | +277% |
| Amounts payable after more than one year | 17 | - | €6,388 | +€6,388 | |
| Financial debts | 170/4 | - | €6,388 | +€6,388 | |
| Amounts payable within one year | 42/48 | €12,982 | €42,600 | +€29,618 | +228% |
| Current portion of amounts payable after more than one year | 42 | €6,283 | €7,405 | +€1,123 | +17.9% |
| Trade debts | 44 | €4,120 | €2,715 | -€1,405 | -34.1% |
| Suppliers | 440/4 | €4,120 | €2,715 | -€1,405 | -34.1% |
| Taxes, remuneration and social security | 45 | €2,580 | €26,963 | +€24,383 | +945% |
| Taxes | 450/3 | €2,580 | €26,963 | +€24,383 | +945% |
| Other amounts payable | 47/48 | - | €5,517 | +€5,517 | |
| Accrued charges and deferred income | 492/3 | - | €3 | +€3 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,488 | €7,651 | -€836 | -9.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €11,896 | €78,069 | +€66,173 | +556% |
| Operating profit (loss) | 9901 | €3,021 | €70,018 | +€66,997 | +2,218% |
| Financial income | 75/76B | €661 | €1 | -€660 | -99.8% |
| Recurring financial income | 75 | €661 | €1 | -€660 | -99.8% |
| Financial charges | 65/66B | €401 | €1,708 | +€1,307 | +326% |
| Recurring financial charges | 65 | €401 | €1,708 | +€1,307 | +326% |
| Profit (loss) for the period before taxes | 9903 | €3,281 | €68,311 | +€65,030 | +1,982% |
| Income taxes | 67/77 | €1,683 | €19,558 | +€17,875 | +1,062% |
| Profit (loss) for the period | 9904 | €1,598 | €48,753 | +€47,155 | +2,951% |
| Profit (loss) for the period to be appropriated | 9905 | €1,598 | €48,753 | +€47,155 | +2,951% |
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 31 October 2026 via checked.be.