MINDO: 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.
MINDO
Largest movements
- Current investments +€352,750
up €352,750 (+352.8%), from €100,000 to €452,750
- Cash -€160,327
down €160,327 (-93.5%), from €171,393 to €11,066
mainly Current investments (-€352,750) and Tax, wage and social debts (-€4,285)
- Receivables within one year -€30,398
down €30,398 (-95.2%), from €31,918 to €1,519
of which Trade receivables: -€25,416
- Reserves +€165,000
up €165,000 (+56.3%), from €293,000 to €458,000
- Gross operating margin -€36,252
down €36,252 (-14.5%), from €249,741 to €213,489
- Taxes -€7,618
down €7,618 (-13.2%), from €57,784 to €50,166
- Financial income +€3,139
up €3,139 (+8344.1%), from €38 to €3,177
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 | €308,352 | €468,793 | +€160,441 | +52.0% |
| Fixed assets | 21/28 | €5,041 | €3,458 | -€1,583 | -31.4% |
| Tangible fixed assets | 22/27 | €5,041 | €3,458 | -€1,583 | -31.4% |
| Furniture and vehicles | 24 | €3,278 | €1,910 | -€1,367 | -41.7% |
| Other tangible fixed assets | 26 | €1,764 | €1,547 | -€216 | -12.3% |
| Current assets | 29/58 | €303,311 | €465,335 | +€162,024 | +53.4% |
| Amounts receivable within one year | 40/41 | €31,918 | €1,519 | -€30,398 | -95.2% |
| Trade receivables | 40 | €25,416 | - | -€25,416 | |
| Other amounts receivable | 41 | €6,502 | €1,519 | -€4,983 | -76.6% |
| Current investments | 50/53 | €100,000 | €452,750 | +€352,750 | +352.8% |
| Cash at bank and in hand | 54/58 | €171,393 | €11,066 | -€160,327 | -93.5% |
| Total equity and liabilities | 10/49 | €308,352 | €468,793 | +€160,441 | +52.0% |
| Equity | 10/15 | €294,835 | €459,561 | +€164,726 | +55.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €293,000 | €458,000 | +€165,000 | +56.3% |
| Distributable reserves | 133 | €293,000 | €458,000 | +€165,000 | +56.3% |
| Profit (loss) carried forward | 14 | €835 | €561 | -€274 | -32.8% |
| Amounts payable | 17/49 | €13,518 | €9,233 | -€4,285 | -31.7% |
| Amounts payable within one year | 42/48 | €13,518 | €9,233 | -€4,285 | -31.7% |
| Taxes, remuneration and social security | 45 | €13,518 | €9,233 | -€4,285 | -31.7% |
| Taxes | 450/3 | €13,518 | €9,233 | -€4,285 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,174 | €1,583 | +€409 | +34.8% |
| Other operating charges | 640/8 | €53 | €45 | -€8 | -15.1% |
| Gross operating margin | 9900 | €249,741 | €213,489 | -€36,252 | -14.5% |
| Operating profit (loss) | 9901 | €248,514 | €211,861 | -€36,654 | -14.7% |
| Financial income | 75/76B | €38 | €3,177 | +€3,139 | +8344.1% |
| Recurring financial income | 75 | €38 | €3,177 | +€3,139 | +8344.1% |
| Financial charges | 65/66B | €105 | €145 | +€40 | +38.3% |
| Recurring financial charges | 65 | €105 | €145 | +€40 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €248,447 | €214,892 | -€33,555 | -13.5% |
| Income taxes | 67/77 | €57,784 | €50,166 | -€7,618 | -13.2% |
| Profit (loss) for the period | 9904 | €190,663 | €164,726 | -€25,937 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €190,663 | €164,726 | -€25,937 | -13.6% |
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 6 October 2026 via checked.be.