MINDS AT WORK: 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.
MINDS AT WORK
Largest movements
- Cash +€136,663
up €136,663 (+68.5%), from €199,555 to €336,218
mainly Net result for the year (+€126,826) and Receivables within one year (+€67,921)
- Receivables within one year -€67,921
down €67,921 (-79.0%), from €86,010 to €18,089
of which Trade receivables: -€48,903
- Deferred charges and accrued income -€12,582
down €12,582 (-86.5%), from €14,545 to €1,963
- Reserves +€50,306
up €50,306 (+15.4%), from €327,104 to €377,410
- Trade debts -€23,413
down €23,413 (-99.4%), from €23,547 to €133
- Other debts +€18,520
up €18,520 (+92.8%), from €19,950 to €38,470
- Tax, wage and social debts +€8,365
up €8,365 (+100%), from €8,336 to €16,702
- Gross operating margin +€62,499
up €62,499 (+47.6%), from €131,256 to €193,755
- Taxes +€16,444
up €16,444 (+45.9%), from €35,803 to €52,247
- Financial charges +€11,701
up €11,701 (+4,410%), from €265 to €11,966
- Depreciation -€4,029
down €4,029 (-62.9%), from €6,411 to €2,381
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 | €556,922 | €610,700 | +€53,778 | +9.7% |
| Fixed assets | 21/28 | €6,812 | €4,430 | -€2,381 | -35.0% |
| Tangible fixed assets | 22/27 | €6,812 | €4,430 | -€2,381 | -35.0% |
| Furniture and vehicles | 24 | €3,770 | €2,409 | -€1,361 | -36.1% |
| Other tangible fixed assets | 26 | €3,041 | €2,021 | -€1,021 | -33.6% |
| Current assets | 29/58 | €550,111 | €606,270 | +€56,159 | +10.2% |
| Amounts receivable within one year | 40/41 | €86,010 | €18,089 | -€67,921 | -79.0% |
| Trade receivables | 40 | €65,984 | €17,081 | -€48,903 | -74.1% |
| Other amounts receivable | 41 | €20,026 | €1,008 | -€19,018 | -95.0% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €199,555 | €336,218 | +€136,663 | +68.5% |
| Deferred charges and accrued income | 490/1 | €14,545 | €1,963 | -€12,582 | -86.5% |
| Total equity and liabilities | 10/49 | €556,922 | €610,700 | +€53,778 | +9.7% |
| Equity | 10/15 | €504,289 | €554,595 | +€50,306 | +10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €327,104 | €377,410 | +€50,306 | +15.4% |
| Distributable reserves | 133 | €327,104 | €377,410 | +€50,306 | +15.4% |
| Profit (loss) carried forward | 14 | €158,585 | €158,585 | = | 0.0% |
| Amounts payable | 17/49 | €52,633 | €56,105 | +€3,472 | +6.6% |
| Amounts payable within one year | 42/48 | €51,833 | €55,305 | +€3,472 | +6.7% |
| Trade debts | 44 | €23,547 | €133 | -€23,413 | -99.4% |
| Suppliers | 440/4 | €23,547 | €133 | -€23,413 | -99.4% |
| Taxes, remuneration and social security | 45 | €8,336 | €16,702 | +€8,365 | +100% |
| Taxes | 450/3 | €8,336 | €16,702 | +€8,365 | +100% |
| Other amounts payable | 47/48 | €19,950 | €38,470 | +€18,520 | +92.8% |
| Accrued charges and deferred income | 492/3 | €800 | €800 | = | 0.0% |
| Non-recurring operating income | 76A | - | €15,385 | +€15,385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,411 | €2,381 | -€4,029 | -62.9% |
| Other operating charges | 640/8 | €1,395 | €1,303 | -€92 | -6.6% |
| Gross operating margin | 9900 | €131,256 | €193,755 | +€62,499 | +47.6% |
| Operating profit (loss) | 9901 | €123,450 | €190,070 | +€66,620 | +54.0% |
| Financial income | 75/76B | €953 | €969 | +€16 | +1.7% |
| Recurring financial income | 75 | €953 | €969 | +€16 | +1.7% |
| Financial charges | 65/66B | €265 | €11,966 | +€11,701 | +4,410% |
| Recurring financial charges | 65 | €265 | €11,966 | +€11,701 | +4,410% |
| Profit (loss) for the period before taxes | 9903 | €124,138 | €179,073 | +€54,935 | +44.3% |
| Income taxes | 67/77 | €35,803 | €52,247 | +€16,444 | +45.9% |
| Profit (loss) for the period | 9904 | €88,336 | €126,826 | +€38,490 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €88,336 | €126,826 | +€38,490 | +43.6% |
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 29 October 2026 via checked.be.