MINET Armelle: what changed
MINET Armelle
Largest movements
- Tangible fixed assets -€13,376
down €13,376 (-25.0%), from €53,581 to €40,205
- Receivables within one year -€3,339
down €3,339 (-16.0%), from €20,808 to €17,469
of which Trade receivables: -€9,749
- Cash -€2,612
down €2,612 (-45.0%), from €5,798 to €3,186
mainly Other debts (-€10,468) and Debts after one year (-€8,642)
- Deferred charges and accrued income +€1,082
new in 2025: €1,082
- Other debts -€10,468
down €10,468 (-100%), from €10,468 to €0
- Debts after one year -€8,642
down €8,642 (-31.2%), from €27,720 to €19,078
- Trade debts +€6,421
up €6,421 (+562%), from €1,142 to €7,563
- Profit (loss) carried forward -€5,897
down €5,897 (-73.1%), from €8,072 to €2,175
- Current portion of long-term debt -€875
down €875 (-7.6%), from €11,542 to €10,667
- Gross operating margin -€40,812
down €40,812 (-84.2%), from €48,498 to €7,686
- Taxes -€8,568
down €8,568, from €6,038 to -€2,529
- Other operating charges -€4,594
down €4,594 (-83.2%), from €5,522 to €928
- Depreciation +€1,061
up €1,061 (+8.6%), from €12,315 to €13,376
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,187 | €61,943 | -€18,244 | -22.8% |
| Fixed assets | 21/28 | €53,581 | €40,205 | -€13,376 | -25.0% |
| Tangible fixed assets | 22/27 | €53,581 | €40,205 | -€13,376 | -25.0% |
| Furniture and vehicles | 24 | €53,581 | €40,205 | -€13,376 | -25.0% |
| Current assets | 29/58 | €26,606 | €21,738 | -€4,869 | -18.3% |
| Amounts receivable within one year | 40/41 | €20,808 | €17,469 | -€3,339 | -16.0% |
| Trade receivables | 40 | €14,627 | €4,878 | -€9,749 | -66.6% |
| Other amounts receivable | 41 | €6,181 | €12,590 | +€6,410 | +104% |
| Cash at bank and in hand | 54/58 | €5,798 | €3,186 | -€2,612 | -45.0% |
| Deferred charges and accrued income | 490/1 | - | €1,082 | +€1,082 | |
| Total equity and liabilities | 10/49 | €80,187 | €61,943 | -€18,244 | -22.8% |
| Equity | 10/15 | €28,532 | €22,635 | -€5,897 | -20.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,072 | €2,175 | -€5,897 | -73.1% |
| Amounts payable | 17/49 | €51,656 | €39,308 | -€12,347 | -23.9% |
| Amounts payable after more than one year | 17 | €27,720 | €19,078 | -€8,642 | -31.2% |
| Financial debts | 170/4 | €27,720 | €19,078 | -€8,642 | -31.2% |
| Amounts payable within one year | 42/48 | €23,935 | €19,730 | -€4,205 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €11,542 | €10,667 | -€875 | -7.6% |
| Trade debts | 44 | €1,142 | €7,563 | +€6,421 | +562% |
| Suppliers | 440/4 | €1,142 | €7,563 | +€6,421 | +562% |
| Taxes, remuneration and social security | 45 | €783 | €1,500 | +€717 | +91.5% |
| Taxes | 450/3 | €783 | €0 | -€783 | -100% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €10,468 | €0 | -€10,468 | -100% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Non-recurring operating income | 76A | €26,000 | €0 | -€26,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,315 | €13,376 | +€1,061 | +8.6% |
| Other operating charges | 640/8 | €5,522 | €928 | -€4,594 | -83.2% |
| Gross operating margin | 9900 | €48,498 | €7,686 | -€40,812 | -84.2% |
| Operating profit (loss) | 9901 | €30,661 | -€6,617 | -€37,279 | |
| Financial income | 75/76B | €0 | €47 | +€47 | |
| Recurring financial income | 75 | €0 | €47 | +€47 | |
| Financial charges | 65/66B | €2,084 | €1,856 | -€228 | -10.9% |
| Recurring financial charges | 65 | €2,084 | €1,856 | -€228 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €28,577 | -€8,426 | -€37,003 | |
| Income taxes | 67/77 | €6,038 | -€2,529 | -€8,568 | |
| Profit (loss) for the period | 9904 | €22,539 | -€5,897 | -€28,436 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,539 | -€5,897 | -€28,436 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.