Mindset Invest: 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 Invest
Largest movements
- Financial fixed assets -€700,000
down €700,000 (-14.7%), from €4.8m to €4.1m
- Cash +€178,056
up €178,056 (+388%), from €45,947 to €224,002
mainly Investment in fixed assets (net) (+€671,000) and Net result for the year (+€279,720)
- Deferred charges and accrued income +€110,000
new in 2025: €110,000
- Other debts -€500,000
down €500,000 (-28.6%), from €1.8m to €1.3m
- Debts after one year -€475,257
down €475,257 (-18.9%), from €2.5m to €2.0m
- Profit (loss) carried forward +€279,720
up €279,720 (+145%), from €192,979 to €472,700
- Current portion of long-term debt +€208,236
up €208,236 (+78.0%), from €267,021 to €475,257
- Tax, wage and social debts +€158,810
new in 2025: €158,810
- Financial charges +€700,979
up €700,979 (+761%), from €92,130 to €793,109
of which Non-recurring financial charges: +€700,000
- Financial income +€700,000
new in 2025: €700,000
of which Financial income: +€700,000
- Gross operating margin +€124,167
up €124,167 (+35.1%), from €353,938 to €478,105
- Taxes +€30,069
up €30,069 (+46.7%), from €64,371 to €94,440
- Depreciation +€5,980
up €5,980 (+162%), from €3,686 to €9,667
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 | €4,795,947 | €4,403,335 | -€392,611 | -8.2% |
| Fixed assets | 21/28 | €4,750,000 | €4,069,333 | -€680,667 | -14.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | - | €19,333 | +€19,333 | |
| Furniture and vehicles | 24 | - | €19,333 | +€19,333 | |
| Financial fixed assets | 28 | €4,750,000 | €4,050,000 | -€700,000 | -14.7% |
| Current assets | 29/58 | €45,947 | €334,002 | +€288,056 | +627% |
| Cash at bank and in hand | 54/58 | €45,947 | €224,002 | +€178,056 | +388% |
| Deferred charges and accrued income | 490/1 | - | €110,000 | +€110,000 | |
| Total equity and liabilities | 10/49 | €4,795,947 | €4,403,335 | -€392,611 | -8.2% |
| Equity | 10/15 | €197,979 | €477,700 | +€279,720 | +141% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,979 | €472,700 | +€279,720 | +145% |
| Amounts payable | 17/49 | €4,597,967 | €3,925,636 | -€672,332 | -14.6% |
| Amounts payable after more than one year | 17 | €2,516,575 | €2,041,318 | -€475,257 | -18.9% |
| Financial debts | 170/4 | €2,516,575 | €2,041,318 | -€475,257 | -18.9% |
| Amounts payable within one year | 42/48 | €2,081,392 | €1,884,318 | -€197,074 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €267,021 | €475,257 | +€208,236 | +78.0% |
| Financial debts | 43 | €64,371 | - | -€64,371 | |
| Other loans | 439 | €64,371 | - | -€64,371 | |
| Trade debts | 44 | - | €250 | +€250 | |
| Suppliers | 440/4 | - | €250 | +€250 | |
| Taxes, remuneration and social security | 45 | - | €158,810 | +€158,810 | |
| Taxes | 450/3 | - | €158,810 | +€158,810 | |
| Other amounts payable | 47/48 | €1,750,000 | €1,250,000 | -€500,000 | -28.6% |
| Remuneration, social security and pensions | 62 | - | €413 | +€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,686 | €9,667 | +€5,980 | +162% |
| Other operating charges | 640/8 | €772 | €757 | -€15 | -1.9% |
| Gross operating margin | 9900 | €353,938 | €478,105 | +€124,167 | +35.1% |
| Operating profit (loss) | 9901 | €349,480 | €467,269 | +€117,789 | +33.7% |
| Financial income | 75/76B | - | €700,000 | +€700,000 | |
| Recurring financial income | 75 | - | €700,000 | +€700,000 | |
| Non-recurring financial income | 76B | - | €700,000 | +€700,000 | |
| Financial charges | 65/66B | €92,130 | €793,109 | +€700,979 | +761% |
| Recurring financial charges | 65 | €92,130 | €93,109 | +€979 | +1.1% |
| Non-recurring financial charges | 66B | - | €700,000 | +€700,000 | |
| Profit (loss) for the period before taxes | 9903 | €257,350 | €374,160 | +€116,810 | +45.4% |
| Income taxes | 67/77 | €64,371 | €94,440 | +€30,069 | +46.7% |
| Profit (loss) for the period | 9904 | €192,979 | €279,720 | +€86,741 | +44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €192,979 | €279,720 | +€86,741 | +44.9% |
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 14 October 2026 via checked.be.