MINDELO: what changed
MINDELO
Largest movements
- Tangible fixed assets -€20,304
down €20,304 (-16.5%), from €123,395 to €103,091
of which Furniture and vehicles: -€16,916
- Cash +€16,606
up €16,606 (+8.3%), from €199,907 to €216,513
mainly Net result for the year (+€109,772) and Depreciation (+€21,964)
- Receivables within one year +€6,248
up €6,248 (+8.5%), from €73,605 to €79,853
of which Trade receivables: +€22,817
- Profit (loss) carried forward +€109,772
up €109,772 (+59.5%), from €184,599 to €294,371
- Other debts -€104,775
down €104,775 (-59.8%), from €175,200 to €70,425
- Tax, wage and social debts -€7,363
down €7,363 (-44.8%), from €16,451 to €9,088
- Gross operating margin -€7,859
down €7,859 (-4.4%), from €176,840 to €168,981
- Taxes +€2,656
up €2,656 (+7.2%), from €36,819 to €39,475
- Financial charges +€2,571
up €2,571 (+720%), from €357 to €2,928
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 | €415,259 | €418,859 | +€3,600 | +0.9% |
| Fixed assets | 21/28 | €123,395 | €103,091 | -€20,304 | -16.5% |
| Tangible fixed assets | 22/27 | €123,395 | €103,091 | -€20,304 | -16.5% |
| Furniture and vehicles | 24 | €87,091 | €70,175 | -€16,916 | -19.4% |
| Other tangible fixed assets | 26 | €36,304 | €32,916 | -€3,388 | -9.3% |
| Current assets | 29/58 | €291,864 | €315,768 | +€23,904 | +8.2% |
| Amounts receivable within one year | 40/41 | €73,605 | €79,853 | +€6,248 | +8.5% |
| Trade receivables | 40 | €13,329 | €36,146 | +€22,817 | +171% |
| Other amounts receivable | 41 | €60,276 | €43,707 | -€16,569 | -27.5% |
| Current investments | 50/53 | €17,491 | €17,491 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €199,907 | €216,513 | +€16,606 | +8.3% |
| Deferred charges and accrued income | 490/1 | €862 | €1,912 | +€1,050 | +122% |
| Total equity and liabilities | 10/49 | €415,259 | €418,859 | +€3,600 | +0.9% |
| Equity | 10/15 | €215,023 | €324,795 | +€109,772 | +51.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,824 | €11,824 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,964 | €9,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,599 | €294,371 | +€109,772 | +59.5% |
| Amounts payable | 17/49 | €200,236 | €94,064 | -€106,172 | -53.0% |
| Amounts payable within one year | 42/48 | €198,736 | €90,069 | -€108,667 | -54.7% |
| Trade debts | 44 | €7,085 | €10,556 | +€3,472 | +49.0% |
| Suppliers | 440/4 | €7,085 | €10,556 | +€3,472 | +49.0% |
| Taxes, remuneration and social security | 45 | €16,451 | €9,088 | -€7,363 | -44.8% |
| Taxes | 450/3 | €16,451 | €9,088 | -€7,363 | -44.8% |
| Other amounts payable | 47/48 | €175,200 | €70,425 | -€104,775 | -59.8% |
| Accrued charges and deferred income | 492/3 | €1,500 | €3,995 | +€2,495 | +166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,909 | €21,964 | +€1,055 | +5.0% |
| Other operating charges | 640/8 | €680 | €638 | -€41 | -6.1% |
| Gross operating margin | 9900 | €176,840 | €168,981 | -€7,859 | -4.4% |
| Operating profit (loss) | 9901 | €155,252 | €146,379 | -€8,872 | -5.7% |
| Financial income | 75/76B | €7,361 | €5,795 | -€1,566 | -21.3% |
| Recurring financial income | 75 | €7,361 | €5,795 | -€1,566 | -21.3% |
| Financial charges | 65/66B | €357 | €2,928 | +€2,571 | +720% |
| Recurring financial charges | 65 | €357 | €2,928 | +€2,571 | +720% |
| Profit (loss) for the period before taxes | 9903 | €162,256 | €149,247 | -€13,009 | -8.0% |
| Income taxes | 67/77 | €36,819 | €39,475 | +€2,656 | +7.2% |
| Profit (loss) for the period | 9904 | €125,437 | €109,772 | -€15,665 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €125,437 | €109,772 | -€15,665 | -12.5% |
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.