Minervo: 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.
Minervo
Largest movements
- Receivables within one year -€121,264
down €121,264 (-71.5%), from €169,677 to €48,413
- Tangible fixed assets -€51,278
down €51,278 (-7.1%), from €721,853 to €670,575
- Trade debts -€84,259
down €84,259 (-28.1%), from €300,200 to €215,940
- Debts after one year -€51,624
down €51,624 (-8.1%), from €639,935 to €588,311
- Other debts -€47,282
down €47,282 (-64.5%), from €73,340 to €26,058
- Profit (loss) carried forward +€33,023
up €33,023 (+14.0%), from -€235,930 to -€202,907
- Accrued charges and deferred income -€20,316
down €20,316 (-43.5%), from €46,715 to €26,399
- Other operating charges -€103,130
down €103,130 (-88.2%), from €116,970 to €13,839
- Gross operating margin -€16,509
down €16,509 (-12.3%), from €134,279 to €117,770
- Financial charges +€3,167
up €3,167 (+19.2%), from €16,463 to €19,630
- Depreciation +€3,113
up €3,113 (+6.5%), from €48,165 to €51,278
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €895,162 | €725,426 | -€169,736 | -19.0% |
| Fixed assets | 21/28 | €721,853 | €670,575 | -€51,278 | -7.1% |
| Tangible fixed assets | 22/27 | €721,853 | €670,575 | -€51,278 | -7.1% |
| Land and buildings | 22 | €721,853 | €670,575 | -€51,278 | -7.1% |
| Current assets | 29/58 | €173,310 | €54,851 | -€118,458 | -68.4% |
| Amounts receivable within one year | 40/41 | €169,677 | €48,413 | -€121,264 | -71.5% |
| Trade receivables | 40 | €169,677 | €48,413 | -€121,264 | -71.5% |
| Cash at bank and in hand | 54/58 | €541 | €5,430 | +€4,889 | +903.2% |
| Deferred charges and accrued income | 490/1 | €3,091 | €1,009 | -€2,083 | -67.4% |
| Total equity and liabilities | 10/49 | €895,162 | €725,426 | -€169,736 | -19.0% |
| Equity | 10/15 | -€215,930 | -€182,907 | +€33,023 | +15.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€235,930 | -€202,907 | +€33,023 | +14.0% |
| Amounts payable | 17/49 | €1,111,092 | €908,333 | -€202,760 | -18.2% |
| Amounts payable after more than one year | 17 | €639,935 | €588,311 | -€51,624 | -8.1% |
| Financial debts | 170/4 | €639,935 | €588,311 | -€51,624 | -8.1% |
| Amounts payable within one year | 42/48 | €424,442 | €293,622 | -€130,820 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €50,902 | €51,624 | +€722 | +1.4% |
| Trade debts | 44 | €300,200 | €215,940 | -€84,259 | -28.1% |
| Suppliers | 440/4 | €300,200 | €215,940 | -€84,259 | -28.1% |
| Other amounts payable | 47/48 | €73,340 | €26,058 | -€47,282 | -64.5% |
| Accrued charges and deferred income | 492/3 | €46,715 | €26,399 | -€20,316 | -43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,165 | €51,278 | +€3,113 | +6.5% |
| Other operating charges | 640/8 | €116,970 | €13,839 | -€103,130 | -88.2% |
| Gross operating margin | 9900 | €134,279 | €117,770 | -€16,509 | -12.3% |
| Operating profit (loss) | 9901 | -€30,856 | €52,653 | +€83,509 | |
| Financial charges | 65/66B | €16,463 | €19,630 | +€3,167 | +19.2% |
| Recurring financial charges | 65 | €16,463 | €19,630 | +€3,167 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | -€47,318 | €33,023 | +€80,342 | |
| Profit (loss) for the period | 9904 | -€47,318 | €33,023 | +€80,342 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,318 | €33,023 | +€80,342 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.