Minelec Projects: 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.
Minelec Projects
Largest movements
- Cash -€26,389
down €26,389 (-7.8%), from €339,188 to €312,799
mainly Contributions, distributions and other (-€229,600) and Net result for the year (-€13,671)
- Tangible fixed assets -€16,474
down €16,474 (-24.0%), from €68,629 to €52,156
of which Furniture and vehicles: -€12,613
- Reserves -€229,600
down €229,600 (-57.0%), from €403,096 to €173,496
- Other debts +€199,600
up €199,600 (+665.3%), from €30,000 to €229,600
- Profit (loss) carried forward -€13,671
down €13,671 (-30.5%), from -€44,763 to -€58,435
- Financial income -€6,640
down €6,640 (-67.9%), from €9,781 to €3,141
of which Non-recurring financial income: -€6,561
- Gross operating margin -€2,946
down €2,946 (-56.2%), from €5,244 to €2,298
- Depreciation +€2,431
up €2,431 (+17.3%), from €14,043 to €16,474
- Taxes -€917
down €917 (-80.5%), from €1,139 to €222
- Other operating charges -€636
down €636 (-21.5%), from €2,956 to €2,321
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 | €409,438 | €366,058 | -€43,380 | -10.6% |
| Fixed assets | 21/28 | €68,629 | €52,156 | -€16,474 | -24.0% |
| Tangible fixed assets | 22/27 | €68,629 | €52,156 | -€16,474 | -24.0% |
| Land and buildings | 22 | €18,894 | €15,063 | -€3,831 | -20.3% |
| Plant, machinery and equipment | 23 | €30 | - | -€30 | |
| Furniture and vehicles | 24 | €49,706 | €37,093 | -€12,613 | -25.4% |
| Current assets | 29/58 | €340,809 | €313,903 | -€26,906 | -7.9% |
| Amounts receivable within one year | 40/41 | €1,621 | €781 | -€840 | -51.8% |
| Other amounts receivable | 41 | €1,621 | €781 | -€840 | -51.8% |
| Cash at bank and in hand | 54/58 | €339,188 | €312,799 | -€26,389 | -7.8% |
| Deferred charges and accrued income | 490/1 | - | €323 | +€323 | |
| Total equity and liabilities | 10/49 | €409,438 | €366,058 | -€43,380 | -10.6% |
| Equity | 10/15 | €378,784 | €135,513 | -€243,271 | -64.2% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €403,096 | €173,496 | -€229,600 | -57.0% |
| Distributable reserves | 133 | €403,096 | €173,496 | -€229,600 | -57.0% |
| Profit (loss) carried forward | 14 | -€44,763 | -€58,435 | -€13,671 | -30.5% |
| Amounts payable | 17/49 | €30,654 | €230,545 | +€199,891 | +652.1% |
| Amounts payable within one year | 42/48 | €30,654 | €230,545 | +€199,891 | +652.1% |
| Trade debts | 44 | €654 | €945 | +€291 | +44.5% |
| Suppliers | 440/4 | €654 | €945 | +€291 | +44.5% |
| Other amounts payable | 47/48 | €30,000 | €229,600 | +€199,600 | +665.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,043 | €16,474 | +€2,431 | +17.3% |
| Other operating charges | 640/8 | €2,956 | €2,321 | -€636 | -21.5% |
| Gross operating margin | 9900 | €5,244 | €2,298 | -€2,946 | -56.2% |
| Operating profit (loss) | 9901 | -€11,755 | -€16,496 | -€4,741 | -40.3% |
| Financial income | 75/76B | €9,781 | €3,141 | -€6,640 | -67.9% |
| Recurring financial income | 75 | €3,220 | €3,141 | -€79 | -2.4% |
| Non-recurring financial income | 76B | €6,561 | - | -€6,561 | |
| Financial charges | 65/66B | €114 | €95 | -€19 | -16.7% |
| Recurring financial charges | 65 | €114 | €95 | -€19 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,088 | -€13,450 | -€11,362 | -544.1% |
| Income taxes | 67/77 | €1,139 | €222 | -€917 | -80.5% |
| Profit (loss) for the period | 9904 | -€3,227 | -€13,671 | -€10,444 | -323.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,227 | -€13,671 | -€10,444 | -323.7% |
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.