MINDS MEET: 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 MEET
Largest movements
- Intangible fixed assets -€733,873
down €733,873 (-70.6%), from €1.0m to €304,990
- Tangible fixed assets -€330,316
down €330,316 (-91.0%), from €363,005 to €32,689
of which Land and buildings: -€209,023
- Stocks and contracts -€93,759
down €93,759 (-6.6%), from €1.4m to €1.3m
- Receivables within one year -€37,132
down €37,132 (-64.9%), from €57,247 to €20,116
of which Trade receivables: -€45,288
- Debts after one year -€516,797
down €516,797 (-54.1%), from €956,120 to €439,323
- Other debts +€414,380
up €414,380 (+2,375%), from €17,448 to €431,828
- Current portion of long-term debt -€377,078
down €377,078 (-94.3%), from €399,721 to €22,643
- Profit (loss) carried forward -€352,044
down €352,044 (-385%), from -€91,357 to -€443,400
- Investment grants -€239,353
down €239,353 (-18.0%), from €1.3m to €1.1m
- Gross operating margin -€757,264
down €757,264 (-56.9%), from €1.3m to €573,051
- Depreciation -€452,687
down €452,687 (-34.4%), from €1.3m to €864,073
- Staff costs -€19,007
down €19,007 (-85.3%), from €22,279 to €3,272
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,939,823 | €1,760,187 | -€1.2m | -40.1% |
| Fixed assets | 21/28 | €1,401,868 | €337,679 | -€1.1m | -75.9% |
| Intangible fixed assets | 21 | €1,038,863 | €304,990 | -€733,873 | -70.6% |
| Tangible fixed assets | 22/27 | €363,005 | €32,689 | -€330,316 | -91.0% |
| Land and buildings | 22 | €209,023 | €0 | -€209,023 | -100% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,160 | €489 | -€670 | -57.8% |
| Other tangible fixed assets | 26 | €152,822 | €32,200 | -€120,622 | -78.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,537,955 | €1,422,508 | -€115,447 | -7.5% |
| Amounts receivable after more than one year | 29 | €47,344 | €47,344 | = | 0.0% |
| Other amounts receivable | 291 | €47,344 | €47,344 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,410,731 | €1,316,972 | -€93,759 | -6.6% |
| Contracts in progress | 37 | €1,410,731 | €1,316,972 | -€93,759 | -6.6% |
| Amounts receivable within one year | 40/41 | €57,247 | €20,116 | -€37,132 | -64.9% |
| Trade receivables | 40 | €52,234 | €6,947 | -€45,288 | -86.7% |
| Other amounts receivable | 41 | €5,013 | €13,169 | +€8,156 | +163% |
| Cash at bank and in hand | 54/58 | €22,261 | €38,076 | +€15,815 | +71.0% |
| Deferred charges and accrued income | 490/1 | €372 | €0 | -€372 | -100% |
| Total equity and liabilities | 10/49 | €2,939,823 | €1,760,187 | -€1.2m | -40.1% |
| Equity | 10/15 | €1,260,632 | €669,236 | -€591,397 | -46.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€91,357 | -€443,400 | -€352,044 | -385% |
| Investment grants | 15 | €1,331,529 | €1,092,176 | -€239,353 | -18.0% |
| Amounts payable | 17/49 | €1,679,190 | €1,090,951 | -€588,239 | -35.0% |
| Amounts payable after more than one year | 17 | €956,120 | €439,323 | -€516,797 | -54.1% |
| Financial debts | 170/4 | €956,120 | €439,323 | -€516,797 | -54.1% |
| Amounts payable within one year | 42/48 | €720,094 | €651,628 | -€68,466 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €399,721 | €22,643 | -€377,078 | -94.3% |
| Financial debts | 43 | €149,819 | €148,900 | -€918 | -0.6% |
| Credit institutions | 430/8 | €149,819 | €148,900 | -€918 | -0.6% |
| Trade debts | 44 | €149,590 | €46,166 | -€103,424 | -69.1% |
| Suppliers | 440/4 | €149,590 | €46,166 | -€103,424 | -69.1% |
| Taxes, remuneration and social security | 45 | €3,517 | €2,091 | -€1,426 | -40.5% |
| Taxes | 450/3 | €744 | €1,245 | +€500 | +67.2% |
| Remuneration and social security | 454/9 | €2,772 | €846 | -€1,926 | -69.5% |
| Other amounts payable | 47/48 | €17,448 | €431,828 | +€414,380 | +2,375% |
| Accrued charges and deferred income | 492/3 | €2,976 | €0 | -€2,976 | -100% |
| Remuneration, social security and pensions | 62 | €22,279 | €3,272 | -€19,007 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,316,760 | €864,073 | -€452,687 | -34.4% |
| Other operating charges | 640/8 | €3,357 | €12,916 | +€9,558 | +285% |
| Gross operating margin | 9900 | €1,330,316 | €573,051 | -€757,264 | -56.9% |
| Operating profit (loss) | 9901 | -€12,081 | -€307,209 | -€295,129 | -2,443% |
| Financial income | 75/76B | €36 | €0 | -€36 | -100% |
| Recurring financial income | 75 | €36 | €0 | -€36 | -100% |
| Financial charges | 65/66B | €47,081 | €44,486 | -€2,596 | -5.5% |
| Recurring financial charges | 65 | €47,081 | €44,486 | -€2,596 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | -€59,126 | -€351,695 | -€292,569 | -495% |
| Income taxes | 67/77 | €439 | €349 | -€90 | -20.5% |
| Profit (loss) for the period | 9904 | -€59,565 | -€352,044 | -€292,479 | -491% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,565 | -€352,044 | -€292,479 | -491% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.