MINE D'OR: 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 D'OR
Largest movements
- Stocks and contracts +€58,952
up €58,952 (+62.3%), from €94,645 to €153,597
- Tangible fixed assets +€30,016
up €30,016 (+150.4%), from €19,964 to €49,980
of which Furniture and vehicles: +€31,240
- Cash -€18,877
down €18,877 (-25.0%), from €75,551 to €56,674
mainly Stocks and contracts (-€58,952) and Investment in fixed assets (net) (-€40,326)
- Receivables within one year -€6,561
down €6,561 (-94.5%), from €6,940 to €379
of which Trade receivables: -€6,271
- Deferred charges and accrued income +€3,409
up €3,409 (+305.8%), from €1,115 to €4,524
- Reserves +€34,500
up €34,500 (+31.4%), from €109,900 to €144,400
of which Distributable reserves: +€34,500
- Debts after one year +€22,728
new in 2025: €22,728
- Trade debts +€9,146
up €9,146 (+368.2%), from €2,484 to €11,630
- Tax, wage and social debts -€7,168
down €7,168 (-36.0%), from €19,923 to €12,755
of which Remuneration and social security: -€4,000
- Current portion of long-term debt +€6,802
new in 2025: €6,802
- Depreciation +€7,685
up €7,685 (+292.8%), from €2,625 to €10,310
- Gross operating margin +€5,777
up €5,777 (+9.8%), from €58,832 to €64,609
- Taxes +€1,428
up €1,428 (+9.5%), from €15,080 to €16,508
- Financial charges +€1,145
up €1,145 (+94.3%), from €1,214 to €2,359
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 | €198,222 | €265,162 | +€66,940 | +33.8% |
| Fixed assets | 21/28 | €19,971 | €49,988 | +€30,016 | +150.3% |
| Tangible fixed assets | 22/27 | €19,964 | €49,980 | +€30,016 | +150.4% |
| Plant, machinery and equipment | 23 | €0 | €970 | +€970 | |
| Furniture and vehicles | 24 | €580 | €31,820 | +€31,240 | +5390.4% |
| Other tangible fixed assets | 26 | €18,148 | €15,954 | -€2,194 | -12.1% |
| Assets under construction and advance payments | 27 | €1,237 | €1,237 | = | 0.0% |
| Financial fixed assets | 28 | €7 | €7 | = | 0.0% |
| Current assets | 29/58 | €178,251 | €215,175 | +€36,924 | +20.7% |
| Stocks and contracts in progress | 3 | €94,645 | €153,597 | +€58,952 | +62.3% |
| Stocks | 30/36 | €94,645 | €153,597 | +€58,952 | +62.3% |
| Amounts receivable within one year | 40/41 | €6,940 | €379 | -€6,561 | -94.5% |
| Trade receivables | 40 | €6,271 | - | -€6,271 | |
| Other amounts receivable | 41 | €669 | €379 | -€290 | -43.3% |
| Cash at bank and in hand | 54/58 | €75,551 | €56,674 | -€18,877 | -25.0% |
| Deferred charges and accrued income | 490/1 | €1,115 | €4,524 | +€3,409 | +305.8% |
| Total equity and liabilities | 10/49 | €198,222 | €265,162 | +€66,940 | +33.8% |
| Equity | 10/15 | €175,815 | €211,248 | +€35,433 | +20.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €109,900 | €144,400 | +€34,500 | +31.4% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €108,000 | €142,500 | +€34,500 | +31.9% |
| Profit (loss) carried forward | 14 | €46,915 | €47,848 | +€933 | +2.0% |
| Amounts payable | 17/49 | €22,407 | €53,914 | +€31,507 | +140.6% |
| Amounts payable after more than one year | 17 | - | €22,728 | +€22,728 | |
| Financial debts | 170/4 | - | €22,728 | +€22,728 | |
| Amounts payable within one year | 42/48 | €22,407 | €31,187 | +€8,780 | +39.2% |
| Current portion of amounts payable after more than one year | 42 | - | €6,802 | +€6,802 | |
| Trade debts | 44 | €2,484 | €11,630 | +€9,146 | +368.2% |
| Suppliers | 440/4 | €2,484 | €11,630 | +€9,146 | +368.2% |
| Taxes, remuneration and social security | 45 | €19,923 | €12,755 | -€7,168 | -36.0% |
| Taxes | 450/3 | €15,923 | €12,755 | -€3,168 | -19.9% |
| Remuneration and social security | 454/9 | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,625 | €10,310 | +€7,685 | +292.8% |
| Gross operating margin | 9900 | €58,832 | €64,609 | +€5,777 | +9.8% |
| Operating profit (loss) | 9901 | €56,208 | €54,300 | -€1,908 | -3.4% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €1,214 | €2,359 | +€1,145 | +94.3% |
| Recurring financial charges | 65 | €1,214 | €2,359 | +€1,145 | +94.3% |
| Profit (loss) for the period before taxes | 9903 | €54,998 | €51,941 | -€3,058 | -5.6% |
| Income taxes | 67/77 | €15,080 | €16,508 | +€1,428 | +9.5% |
| Profit (loss) for the period | 9904 | €39,919 | €35,433 | -€4,486 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,919 | €35,433 | -€4,486 | -11.2% |
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 7 October 2026 via checked.be.