MINDSTRO: 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.
MINDSTRO
Largest movements
- Receivables after one year -€40,000
down €40,000 (-100%), from €40,000 to €0
- Receivables within one year +€20,410
up €20,410 (+16.9%), from €120,495 to €140,906
of which Other amounts receivable: +€19,079
- Tangible fixed assets -€8,130
down €8,130 (-31.3%), from €25,986 to €17,856
of which Other tangible fixed assets: -€4,875
- Cash +€7,148
up €7,148 (+14.2%), from €50,231 to €57,379
mainly Net result for the year (+€69,973) and Receivables after one year (+€40,000)
- Reserves -€54,624
down €54,624 (-42.5%), from €128,443 to €73,819
- Other debts +€31,872
up €31,872 (+34.4%), from €92,724 to €124,596
- Trade debts +€3,036
up €3,036 (+1,625%), from €187 to €3,223
- Tax, wage and social debts -€2,683
down €2,683 (-58.6%), from €4,579 to €1,897
- Gross operating margin -€30,487
down €30,487 (-24.9%), from €122,262 to €91,776
- Taxes -€7,089
down €7,089 (-27.1%), from €26,165 to €19,076
- Financial income +€1,922
up €1,922 (+31.6%), from €6,081 to €8,003
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 | €237,267 | €216,141 | -€21,126 | -8.9% |
| Fixed assets | 21/28 | €25,986 | €17,856 | -€8,130 | -31.3% |
| Tangible fixed assets | 22/27 | €25,986 | €17,856 | -€8,130 | -31.3% |
| Plant, machinery and equipment | 23 | €6,114 | €3,939 | -€2,175 | -35.6% |
| Furniture and vehicles | 24 | €3,550 | €2,471 | -€1,080 | -30.4% |
| Other tangible fixed assets | 26 | €16,322 | €11,447 | -€4,875 | -29.9% |
| Current assets | 29/58 | €211,281 | €198,284 | -€12,996 | -6.2% |
| Amounts receivable after more than one year | 29 | €40,000 | €0 | -€40,000 | -100% |
| Other amounts receivable | 291 | €40,000 | €0 | -€40,000 | -100% |
| Amounts receivable within one year | 40/41 | €120,495 | €140,906 | +€20,410 | +16.9% |
| Trade receivables | 40 | €4,901 | €6,233 | +€1,332 | +27.2% |
| Other amounts receivable | 41 | €115,594 | €134,673 | +€19,079 | +16.5% |
| Cash at bank and in hand | 54/58 | €50,231 | €57,379 | +€7,148 | +14.2% |
| Deferred charges and accrued income | 490/1 | €555 | €0 | -€555 | -100% |
| Total equity and liabilities | 10/49 | €237,267 | €216,141 | -€21,126 | -8.9% |
| Equity | 10/15 | €131,443 | €76,819 | -€54,624 | -41.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €128,443 | €73,819 | -€54,624 | -42.5% |
| Distributable reserves | 133 | €128,443 | €73,819 | -€54,624 | -42.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €105,824 | €139,321 | +€33,498 | +31.7% |
| Amounts payable within one year | 42/48 | €105,824 | €138,049 | +€32,226 | +30.5% |
| Financial debts | 43 | €8,333 | €8,333 | = | 0.0% |
| Credit institutions | 430/8 | €8,333 | €8,333 | = | 0.0% |
| Trade debts | 44 | €187 | €3,223 | +€3,036 | +1,625% |
| Suppliers | 440/4 | €187 | €3,223 | +€3,036 | +1,625% |
| Taxes, remuneration and social security | 45 | €4,579 | €1,897 | -€2,683 | -58.6% |
| Taxes | 450/3 | €4,579 | €1,897 | -€2,683 | -58.6% |
| Other amounts payable | 47/48 | €92,724 | €124,596 | +€31,872 | +34.4% |
| Accrued charges and deferred income | 492/3 | - | €1,272 | +€1,272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,588 | €8,130 | +€542 | +7.1% |
| Other operating charges | 640/8 | €542 | €1,584 | +€1,042 | +192% |
| Gross operating margin | 9900 | €122,262 | €91,776 | -€30,487 | -24.9% |
| Operating profit (loss) | 9901 | €114,133 | €82,062 | -€32,071 | -28.1% |
| Financial income | 75/76B | €6,081 | €8,003 | +€1,922 | +31.6% |
| Recurring financial income | 75 | €6,081 | €8,003 | +€1,922 | +31.6% |
| Financial charges | 65/66B | €1,324 | €1,016 | -€308 | -23.3% |
| Recurring financial charges | 65 | €1,324 | €1,016 | -€308 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €118,890 | €89,049 | -€29,841 | -25.1% |
| Income taxes | 67/77 | €26,165 | €19,076 | -€7,089 | -27.1% |
| Profit (loss) for the period | 9904 | €92,724 | €69,973 | -€22,752 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €92,724 | €69,973 | -€22,752 | -24.5% |
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 13 October 2026 via checked.be.