MINDSET: 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.
MINDSET
Largest movements
- Cash +€65,352
up €65,352 (+39.6%), from €164,971 to €230,323
mainly Net result for the year (+€158,420) and Other debts (+€148,788)
- Current investments +€34,853
up €34,853 (+38.5%), from €90,535 to €125,387
- Other debts +€148,788
up €148,788 (+375.9%), from €39,577 to €188,366
- Tax, wage and social debts -€42,573
down €42,573 (-84.3%), from €50,520 to €7,948
- Taxes -€11,435
down €11,435 (-32.5%), from €35,220 to €23,784
- Financial income +€10,993
up €10,993 (+10.9%), from €101,085 to €112,078
- Financial charges +€6,850
up €6,850 (+165.9%), from €4,128 to €10,978
- Gross operating margin +€1,471
up €1,471 (+1.7%), from €85,573 to €87,044
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 | €605,825 | €710,189 | +€104,364 | +17.2% |
| Fixed assets | 21/28 | €330,588 | €331,163 | +€575 | +0.2% |
| Tangible fixed assets | 22/27 | €14,588 | €15,163 | +€575 | +3.9% |
| Plant, machinery and equipment | 23 | €3,079 | €2,429 | -€650 | -21.1% |
| Furniture and vehicles | 24 | €3,030 | €6,307 | +€3,277 | +108.1% |
| Other tangible fixed assets | 26 | €8,479 | €6,426 | -€2,052 | -24.2% |
| Financial fixed assets | 28 | €316,000 | €316,000 | = | 0.0% |
| Current assets | 29/58 | €275,237 | €379,027 | +€103,789 | +37.7% |
| Amounts receivable within one year | 40/41 | €18,663 | €21,985 | +€3,322 | +17.8% |
| Trade receivables | 40 | €2,224 | €16,940 | +€14,716 | +661.7% |
| Other amounts receivable | 41 | €16,439 | €5,045 | -€11,394 | -69.3% |
| Current investments | 50/53 | €90,535 | €125,387 | +€34,853 | +38.5% |
| Cash at bank and in hand | 54/58 | €164,971 | €230,323 | +€65,352 | +39.6% |
| Deferred charges and accrued income | 490/1 | €1,068 | €1,331 | +€263 | +24.6% |
| Total equity and liabilities | 10/49 | €605,825 | €710,189 | +€104,364 | +17.2% |
| Equity | 10/15 | €513,182 | €513,182 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €508,182 | €508,182 | = | 0.0% |
| Distributable reserves | 133 | €508,182 | €508,182 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €92,644 | €197,007 | +€104,364 | +112.7% |
| Amounts payable within one year | 42/48 | €92,644 | €197,007 | +€104,364 | +112.7% |
| Trade debts | 44 | €2,546 | €694 | -€1,852 | -72.7% |
| Suppliers | 440/4 | €2,546 | €694 | -€1,852 | -72.7% |
| Taxes, remuneration and social security | 45 | €50,520 | €7,948 | -€42,573 | -84.3% |
| Taxes | 450/3 | €50,520 | €7,948 | -€42,573 | -84.3% |
| Other amounts payable | 47/48 | €39,577 | €188,366 | +€148,788 | +375.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,040 | €4,259 | +€218 | +5.4% |
| Other operating charges | 640/8 | €942 | €593 | -€348 | -37.0% |
| Non-recurring operating charges | 66A | - | €1,088 | +€1,088 | |
| Gross operating margin | 9900 | €85,573 | €87,044 | +€1,471 | +1.7% |
| Operating profit (loss) | 9901 | €80,591 | €81,105 | +€514 | +0.6% |
| Financial income | 75/76B | €101,085 | €112,078 | +€10,993 | +10.9% |
| Recurring financial income | 75 | €101,085 | €112,078 | +€10,993 | +10.9% |
| Financial charges | 65/66B | €4,128 | €10,978 | +€6,850 | +165.9% |
| Recurring financial charges | 65 | €4,128 | €10,978 | +€6,850 | +165.9% |
| Profit (loss) for the period before taxes | 9903 | €177,548 | €182,205 | +€4,656 | +2.6% |
| Income taxes | 67/77 | €35,220 | €23,784 | -€11,435 | -32.5% |
| Profit (loss) for the period | 9904 | €142,329 | €158,420 | +€16,091 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €142,329 | €158,420 | +€16,091 | +11.3% |
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 10 October 2026 via checked.be.