MINDSET REAL ESTATE: what changed
MINDSET REAL ESTATE
Largest movements
- Cash -€94,556
down €94,556 (-26.7%), from €353,623 to €259,067
mainly Contributions, distributions and other (-€300,000) and Other debts (-€198,364)
- Receivables after one year +€62,219
up €62,219 (+30.6%), from €203,250 to €265,469
- Deferred charges and accrued income +€41,542
up €41,542 (+279%), from €14,909 to €56,450
- Tangible fixed assets -€25,713
down €25,713 (-20.0%), from €128,771 to €103,058
of which Furniture and vehicles: -€17,944
- Receivables within one year +€13,172
up €13,172 (+3.6%), from €366,951 to €380,123
of which Other amounts receivable: +€20,170
- Debts after one year +€283,237
up €283,237 (+570%), from €49,672 to €332,909
- Profit (loss) carried forward -€207,730
down €207,730 (-100%), from €207,730 to €0
- Other debts -€198,364
down €198,364 (-39.8%), from €498,364 to €300,000
- Trade debts +€63,561
up €63,561 (+60.0%), from €105,913 to €169,474
- Current portion of long-term debt +€51,276
up €51,276 (+69.8%), from €73,479 to €124,756
- Gross operating margin -€284,066
down €284,066 (-38.9%), from €730,780 to €446,714
- Taxes -€56,673
down €56,673 (-57.2%), from €99,055 to €42,382
- Staff costs +€36,835
up €36,835 (+13.4%), from €274,366 to €311,201
- Other operating charges -€21,959
down €21,959 (-78.2%), from €28,073 to €6,113
- Financial income +€10,462
up €10,462 (+146%), from €7,153 to €17,615
of which Non-recurring financial income: +€11,169
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,157,870 | €1,158,764 | +€894 | +0.1% |
| Fixed assets | 21/28 | €139,130 | €117,647 | -€21,483 | -15.4% |
| Intangible fixed assets | 21 | €2,858 | €11,289 | +€8,430 | +295% |
| Tangible fixed assets | 22/27 | €128,771 | €103,058 | -€25,713 | -20.0% |
| Furniture and vehicles | 24 | €53,069 | €35,125 | -€17,944 | -33.8% |
| Other tangible fixed assets | 26 | €75,702 | €67,933 | -€7,769 | -10.3% |
| Financial fixed assets | 28 | €7,500 | €3,300 | -€4,200 | -56.0% |
| Current assets | 29/58 | €1,018,741 | €1,041,117 | +€22,376 | +2.2% |
| Amounts receivable after more than one year | 29 | €203,250 | €265,469 | +€62,219 | +30.6% |
| Other amounts receivable | 291 | €203,250 | €265,469 | +€62,219 | +30.6% |
| Amounts receivable within one year | 40/41 | €366,951 | €380,123 | +€13,172 | +3.6% |
| Trade receivables | 40 | €363,787 | €356,789 | -€6,998 | -1.9% |
| Other amounts receivable | 41 | €3,164 | €23,334 | +€20,170 | +638% |
| Current investments | 50/53 | €80,008 | €80,008 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €353,623 | €259,067 | -€94,556 | -26.7% |
| Deferred charges and accrued income | 490/1 | €14,909 | €56,450 | +€41,542 | +279% |
| Total equity and liabilities | 10/49 | €1,157,870 | €1,158,764 | +€894 | +0.1% |
| Equity | 10/15 | €360,635 | €106,110 | -€254,525 | -70.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €134,305 | €87,510 | -€46,795 | -34.8% |
| Tax-exempt reserves | 132 | €3,274 | €3,274 | = | 0.0% |
| Distributable reserves | 133 | €131,030 | €84,235 | -€46,795 | -35.7% |
| Profit (loss) carried forward | 14 | €207,730 | €0 | -€207,730 | -100% |
| Amounts payable | 17/49 | €797,235 | €1,052,654 | +€255,419 | +32.0% |
| Amounts payable after more than one year | 17 | €49,672 | €332,909 | +€283,237 | +570% |
| Financial debts | 170/4 | €49,672 | €332,909 | +€283,237 | +570% |
| Amounts payable within one year | 42/48 | €747,563 | €719,745 | -€27,818 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €73,479 | €124,756 | +€51,276 | +69.8% |
| Financial debts | 43 | €17,946 | €31,453 | +€13,507 | +75.3% |
| Credit institutions | 430/8 | €17,946 | €31,453 | +€13,507 | +75.3% |
| Trade debts | 44 | €105,913 | €169,474 | +€63,561 | +60.0% |
| Suppliers | 440/4 | €105,913 | €169,474 | +€63,561 | +60.0% |
| Advances received on contracts in progress | 46 | €2,000 | €2,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €49,860 | €92,062 | +€42,202 | +84.6% |
| Taxes | 450/3 | €23,661 | €46,008 | +€22,348 | +94.5% |
| Remuneration and social security | 454/9 | €26,199 | €46,054 | +€19,854 | +75.8% |
| Other amounts payable | 47/48 | €498,364 | €300,000 | -€198,364 | -39.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €274,366 | €311,201 | +€36,835 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,839 | €32,891 | -€1,948 | -5.6% |
| Other operating charges | 640/8 | €28,073 | €6,113 | -€21,959 | -78.2% |
| Non-recurring operating charges | 66A | €144,601 | €7,256 | -€137,345 | -95.0% |
| Gross operating margin | 9900 | €730,780 | €446,714 | -€284,066 | -38.9% |
| Operating profit (loss) | 9901 | €248,901 | €89,253 | -€159,648 | -64.1% |
| Financial income | 75/76B | €7,153 | €17,615 | +€10,462 | +146% |
| Recurring financial income | 75 | €7,153 | €6,447 | -€706 | -9.9% |
| Non-recurring financial income | 76B | - | €11,169 | +€11,169 | |
| Financial charges | 65/66B | €29,201 | €19,011 | -€10,190 | -34.9% |
| Recurring financial charges | 65 | €29,201 | €19,011 | -€10,190 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €226,853 | €87,857 | -€138,996 | -61.3% |
| Income taxes | 67/77 | €99,055 | €42,382 | -€56,673 | -57.2% |
| Profit (loss) for the period | 9904 | €127,798 | €45,475 | -€82,323 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €127,798 | €45,475 | -€82,323 | -64.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.