MINEKO: 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.
MINEKO
Largest movements
- Tangible fixed assets -€118,999
down €118,999 (-5.3%), from €2.2m to €2.1m
of which Land and buildings: -€111,946
- Receivables within one year -€43,724
down €43,724 (-11.1%), from €393,883 to €350,160
of which Other amounts receivable: -€43,678
- Debts after one year -€113,313
down €113,313 (-6.4%), from €1.8m to €1.7m
- Other debts -€30,051
down €30,051 (-100%), from €30,051 to €0
- Profit (loss) carried forward -€28,132
down €28,132 (-11.5%), from €244,070 to €215,938
- Financial charges -€26,513
down €26,513 (-26.4%), from €100,257 to €73,744
- Depreciation -€9,947
down €9,947 (-6.9%), from €143,608 to €133,661
- Gross operating margin -€5,874
down €5,874 (-2.9%), from €203,412 to €197,538
- Financial income -€5,042
down €5,042 (-99.9%), from €5,045 to €3
- Other operating charges -€2,295
down €2,295 (-11.2%), from €20,561 to €18,266
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 | €2,660,623 | €2,479,897 | -€180,725 | -6.8% |
| Fixed assets | 21/28 | €2,228,009 | €2,109,010 | -€118,999 | -5.3% |
| Tangible fixed assets | 22/27 | €2,228,009 | €2,109,010 | -€118,999 | -5.3% |
| Land and buildings | 22 | €2,220,463 | €2,108,517 | -€111,946 | -5.0% |
| Plant, machinery and equipment | 23 | €7,546 | €493 | -€7,053 | -93.5% |
| Current assets | 29/58 | €432,613 | €370,887 | -€61,727 | -14.3% |
| Amounts receivable within one year | 40/41 | €393,883 | €350,160 | -€43,724 | -11.1% |
| Trade receivables | 40 | €46 | €0 | -€46 | -100% |
| Other amounts receivable | 41 | €393,837 | €350,160 | -€43,678 | -11.1% |
| Current investments | 50/53 | €0 | €2 | +€2 | |
| Cash at bank and in hand | 54/58 | €35,584 | €17,489 | -€18,095 | -50.9% |
| Deferred charges and accrued income | 490/1 | €3,146 | €3,236 | +€90 | +2.9% |
| Total equity and liabilities | 10/49 | €2,660,623 | €2,479,897 | -€180,725 | -6.8% |
| Equity | 10/15 | €733,061 | €704,929 | -€28,132 | -3.8% |
| Contributions | 10/11 | €435,000 | €435,000 | = | 0.0% |
| Reserves | 13 | €53,991 | €53,991 | = | 0.0% |
| Distributable reserves | 133 | €53,991 | €53,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | €244,070 | €215,938 | -€28,132 | -11.5% |
| Amounts payable | 17/49 | €1,927,562 | €1,774,968 | -€152,594 | -7.9% |
| Amounts payable after more than one year | 17 | €1,770,174 | €1,656,861 | -€113,313 | -6.4% |
| Financial debts | 170/4 | €1,770,174 | €1,656,861 | -€113,313 | -6.4% |
| Amounts payable within one year | 42/48 | €157,388 | €114,833 | -€42,555 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €109,408 | €113,313 | +€3,906 | +3.6% |
| Trade debts | 44 | €16,971 | €1,520 | -€15,451 | -91.0% |
| Suppliers | 440/4 | €16,971 | €1,520 | -€15,451 | -91.0% |
| Taxes, remuneration and social security | 45 | €958 | €0 | -€958 | -100% |
| Taxes | 450/3 | €958 | €0 | -€958 | -100% |
| Other amounts payable | 47/48 | €30,051 | €0 | -€30,051 | -100% |
| Accrued charges and deferred income | 492/3 | - | €3,274 | +€3,274 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,608 | €133,661 | -€9,947 | -6.9% |
| Other operating charges | 640/8 | €20,561 | €18,266 | -€2,295 | -11.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €203,412 | €197,538 | -€5,874 | -2.9% |
| Operating profit (loss) | 9901 | €39,242 | €45,610 | +€6,368 | +16.2% |
| Financial income | 75/76B | €5,045 | €3 | -€5,042 | -99.9% |
| Recurring financial income | 75 | €5,045 | €3 | -€5,042 | -99.9% |
| Financial charges | 65/66B | €100,257 | €73,744 | -€26,513 | -26.4% |
| Recurring financial charges | 65 | €100,257 | €73,744 | -€26,513 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | -€55,970 | -€28,131 | +€27,839 | +49.7% |
| Income taxes | 67/77 | -€2 | €1 | +€3 | |
| Profit (loss) for the period | 9904 | -€55,968 | -€28,132 | +€27,836 | +49.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,968 | -€28,132 | +€27,836 | +49.7% |
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 30 October 2026 via checked.be.