MINDINVEST: 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.
MINDINVEST
Largest movements
- Cash -€199,395
down €199,395 (-47.7%), from €417,625 to €218,230
mainly Contributions, distributions and other (-€196,091) and Other debts (-€152,387)
- Receivables within one year -€13,701
down €13,701 (-14.8%), from €92,448 to €78,747
of which Trade receivables: -€19,517
- Tangible fixed assets +€6,945
up €6,945 (+5.5%), from €125,788 to €132,733
of which Furniture and vehicles: +€10,499
- Other debts -€152,387
down €152,387 (-43.6%), from €349,745 to €197,358
- Tax, wage and social debts -€25,125
down €25,125 (-57.9%), from €43,417 to €18,292
- Accrued charges and deferred income -€17,600
down €17,600 (-100%), from €17,600 to €0
- Current portion of long-term debt -€7,512
down €7,512 (-74.4%), from €10,103 to €2,591
- Gross operating margin +€9,826
up €9,826 (+3.4%), from €287,486 to €297,313
- Depreciation +€7,701
up €7,701 (+24.5%), from €31,406 to €39,106
- Other operating charges -€3,336
down €3,336 (-58.6%), from €5,697 to €2,361
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 | €644,619 | €439,494 | -€205,125 | -31.8% |
| Fixed assets | 21/28 | €130,788 | €137,733 | +€6,945 | +5.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €125,788 | €132,733 | +€6,945 | +5.5% |
| Furniture and vehicles | 24 | €92,853 | €103,353 | +€10,499 | +11.3% |
| Leasing and similar rights | 25 | €32,935 | €19,443 | -€13,492 | -41.0% |
| Other tangible fixed assets | 26 | - | €9,938 | +€9,938 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €513,831 | €301,761 | -€212,070 | -41.3% |
| Amounts receivable within one year | 40/41 | €92,448 | €78,747 | -€13,701 | -14.8% |
| Trade receivables | 40 | €92,448 | €72,930 | -€19,517 | -21.1% |
| Other amounts receivable | 41 | - | €5,816 | +€5,816 | |
| Cash at bank and in hand | 54/58 | €417,625 | €218,230 | -€199,395 | -47.7% |
| Deferred charges and accrued income | 490/1 | €3,758 | €4,784 | +€1,026 | +27.3% |
| Total equity and liabilities | 10/49 | €644,619 | €439,494 | -€205,125 | -31.8% |
| Equity | 10/15 | €197,266 | €197,166 | -€100 | -0.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €178,716 | €178,616 | -€100 | -0.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €178,716 | €178,616 | -€100 | -0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €447,353 | €242,328 | -€205,025 | -45.8% |
| Amounts payable after more than one year | 17 | €4,303 | €856 | -€3,447 | -80.1% |
| Financial debts | 170/4 | €4,303 | €856 | -€3,447 | -80.1% |
| Amounts payable within one year | 42/48 | €425,450 | €241,472 | -€183,979 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €10,103 | €2,591 | -€7,512 | -74.4% |
| Trade debts | 44 | €22,186 | €23,231 | +€1,045 | +4.7% |
| Suppliers | 440/4 | €22,186 | €23,231 | +€1,045 | +4.7% |
| Taxes, remuneration and social security | 45 | €43,417 | €18,292 | -€25,125 | -57.9% |
| Taxes | 450/3 | €43,417 | €18,292 | -€25,125 | -57.9% |
| Other amounts payable | 47/48 | €349,745 | €197,358 | -€152,387 | -43.6% |
| Accrued charges and deferred income | 492/3 | €17,600 | €0 | -€17,600 | -100% |
| Non-recurring operating income | 76A | €13,712 | €0 | -€13,712 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,406 | €39,106 | +€7,701 | +24.5% |
| Other operating charges | 640/8 | €5,697 | €2,361 | -€3,336 | -58.6% |
| Gross operating margin | 9900 | €287,486 | €297,313 | +€9,826 | +3.4% |
| Operating profit (loss) | 9901 | €250,384 | €255,845 | +€5,461 | +2.2% |
| Financial income | 75/76B | €11 | €9 | -€2 | -17.8% |
| Recurring financial income | 75 | €11 | €9 | -€2 | -17.8% |
| Financial charges | 65/66B | €981 | €677 | -€304 | -31.0% |
| Recurring financial charges | 65 | €981 | €677 | -€304 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €249,414 | €255,177 | +€5,763 | +2.3% |
| Income taxes | 67/77 | €59,175 | €59,186 | +€12 | 0.0% |
| Profit (loss) for the period | 9904 | €190,239 | €195,991 | +€5,751 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €190,239 | €195,991 | +€5,751 | +3.0% |
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.