MINE: what changed
Two fiscal 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.
MINE
Largest movements
- Cash -€307,318
down €307,318 (-73.6%), from €417,673 to €110,355
mainly Provisions (-€288,614) and Receivables within one year (-€102,491)
- Receivables within one year +€102,491
up €102,491 (+54.6%), from €187,606 to €290,097
of which Other amounts receivable: +€140,601
- Current investments +€100,000
up €100,000 (+33.3%), from €300,000 to €400,000
- Tangible fixed assets -€44,790
down €44,790 (-3.1%), from €1.4m to €1.4m
- Deferred charges and accrued income -€42,827
down €42,827 (-95.1%), from €45,036 to €2,209
- Provisions -€288,614
down €288,614 (-85.2%), from €338,614 to €50,000
- Reserves +€163,113
up €163,113 (+18.3%), from €889,575 to €1.1m
- Other debts -€53,899
down €53,899 (-74.4%), from €72,444 to €18,544
- Trade debts +€41,172
up €41,172 (+92.4%), from €44,540 to €85,712
- Accrued charges and deferred income -€35,873
down €35,873 (-88.5%), from €40,538 to €4,665
- Provisions -€478,577
down €478,577, from €189,963 to -€288,614
- Gross operating margin -€409,434
down €409,434 (-82.7%), from €495,142 to €85,708
- Taxes +€16,003
up €16,003 (+30.8%), from €51,942 to €67,946
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 | €2,375,435 | €2,182,991 | -€192,444 | -8.1% |
| Fixed assets | 21/28 | €1,425,120 | €1,380,330 | -€44,790 | -3.1% |
| Tangible fixed assets | 22/27 | €1,425,120 | €1,380,330 | -€44,790 | -3.1% |
| Land and buildings | 22 | €1,425,120 | €1,380,330 | -€44,790 | -3.1% |
| Current assets | 29/58 | €950,315 | €802,661 | -€147,654 | -15.5% |
| Amounts receivable within one year | 40/41 | €187,606 | €290,097 | +€102,491 | +54.6% |
| Trade receivables | 40 | €105,681 | €67,571 | -€38,110 | -36.1% |
| Other amounts receivable | 41 | €81,925 | €222,526 | +€140,601 | +171.6% |
| Current investments | 50/53 | €300,000 | €400,000 | +€100,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €417,673 | €110,355 | -€307,318 | -73.6% |
| Deferred charges and accrued income | 490/1 | €45,036 | €2,209 | -€42,827 | -95.1% |
| Total equity and liabilities | 10/49 | €2,375,435 | €2,182,991 | -€192,444 | -8.1% |
| Equity | 10/15 | €1,829,875 | €1,992,987 | +€163,113 | +8.9% |
| Contributions | 10/11 | €940,300 | €940,300 | = | 0.0% |
| Reserves | 13 | €889,575 | €1,052,687 | +€163,113 | +18.3% |
| Distributable reserves | 133 | €889,575 | €1,052,687 | +€163,113 | +18.3% |
| Provisions and deferred taxes | 16 | €338,614 | €50,000 | -€288,614 | -85.2% |
| Provisions for liabilities and charges | 160/5 | €338,614 | €50,000 | -€288,614 | -85.2% |
| Major repairs and maintenance | 162 | €338,614 | €50,000 | -€288,614 | -85.2% |
| Amounts payable | 17/49 | €206,946 | €140,004 | -€66,942 | -32.3% |
| Amounts payable within one year | 42/48 | €166,409 | €135,339 | -€31,070 | -18.7% |
| Trade debts | 44 | €44,540 | €85,712 | +€41,172 | +92.4% |
| Suppliers | 440/4 | €44,540 | €85,712 | +€41,172 | +92.4% |
| Taxes, remuneration and social security | 45 | €49,425 | €31,082 | -€18,343 | -37.1% |
| Taxes | 450/3 | €49,425 | €31,082 | -€18,343 | -37.1% |
| Other amounts payable | 47/48 | €72,444 | €18,544 | -€53,899 | -74.4% |
| Accrued charges and deferred income | 492/3 | €40,538 | €4,665 | -€35,873 | -88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,671 | €106,093 | +€422 | +0.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €189,963 | -€288,614 | -€478,577 | |
| Other operating charges | 640/8 | €45,570 | €46,999 | +€1,429 | +3.1% |
| Gross operating margin | 9900 | €495,142 | €85,708 | -€409,434 | -82.7% |
| Operating profit (loss) | 9901 | €153,939 | €221,231 | +€67,292 | +43.7% |
| Financial income | 75/76B | €10,980 | €10,177 | -€803 | -7.3% |
| Recurring financial income | 75 | €10,980 | €10,177 | -€803 | -7.3% |
| Financial charges | 65/66B | €151 | €349 | +€198 | +130.7% |
| Recurring financial charges | 65 | €151 | €349 | +€198 | +130.7% |
| Profit (loss) for the period before taxes | 9903 | €164,767 | €231,058 | +€66,291 | +40.2% |
| Income taxes | 67/77 | €51,942 | €67,946 | +€16,003 | +30.8% |
| Profit (loss) for the period | 9904 | €112,824 | €163,113 | +€50,288 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €112,824 | €163,113 | +€50,288 | +44.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.