MINFOS: 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.
MINFOS
Largest movements
- Cash +€263,306
up €263,306 (+405.8%), from €64,878 to €328,185
mainly Net result for the year (+€348,518) and Tax, wage and social debts (+€45,791)
- Receivables after one year +€100,000
up €100,000 (+19.8%), from €505,000 to €605,000
- Receivables within one year +€40,790
up €40,790 (+41.9%), from €97,380 to €138,170
- Tangible fixed assets -€25,797
down €25,797 (-9.1%), from €283,444 to €257,648
of which Land and buildings: -€14,382
- Reserves +€348,518
up €348,518 (+38.5%), from €904,893 to €1.3m
- Tax, wage and social debts +€45,791
up €45,791 (+229.5%), from €19,948 to €65,739
- Trade debts +€33,608
up €33,608 (+1244.9%), from €2,700 to €36,308
- Debts after one year -€27,842
down €27,842 (-14.3%), from €194,676 to €166,834
- Gross operating margin +€145,338
up €145,338 (+37.6%), from €386,873 to €532,210
- Taxes +€48,669
up €48,669 (+43.8%), from €111,088 to €159,757
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 | €1,235,672 | €1,628,997 | +€393,325 | +31.8% |
| Fixed assets | 21/28 | €302,416 | €276,620 | -€25,797 | -8.5% |
| Tangible fixed assets | 22/27 | €283,444 | €257,648 | -€25,797 | -9.1% |
| Land and buildings | 22 | €271,180 | €256,798 | -€14,382 | -5.3% |
| Plant, machinery and equipment | 23 | €518 | €379 | -€139 | -26.8% |
| Furniture and vehicles | 24 | €11,746 | €471 | -€11,275 | -96.0% |
| Financial fixed assets | 28 | €18,972 | €18,972 | = | 0.0% |
| Current assets | 29/58 | €933,256 | €1,352,377 | +€419,121 | +44.9% |
| Amounts receivable after more than one year | 29 | €505,000 | €605,000 | +€100,000 | +19.8% |
| Other amounts receivable | 291 | €505,000 | €605,000 | +€100,000 | +19.8% |
| Amounts receivable within one year | 40/41 | €97,380 | €138,170 | +€40,790 | +41.9% |
| Trade receivables | 40 | €97,380 | €138,170 | +€40,790 | +41.9% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,878 | €328,185 | +€263,306 | +405.8% |
| Deferred charges and accrued income | 490/1 | €15,998 | €31,023 | +€15,025 | +93.9% |
| Total equity and liabilities | 10/49 | €1,235,672 | €1,628,997 | +€393,325 | +31.8% |
| Equity | 10/15 | €952,659 | €1,301,177 | +€348,518 | +36.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €904,893 | €1,253,412 | +€348,518 | +38.5% |
| Distributable reserves | 133 | €904,893 | €1,253,412 | +€348,518 | +38.5% |
| Profit (loss) carried forward | 14 | €29,165 | €29,165 | = | 0.0% |
| Amounts payable | 17/49 | €283,014 | €327,820 | +€44,806 | +15.8% |
| Amounts payable after more than one year | 17 | €194,676 | €166,834 | -€27,842 | -14.3% |
| Financial debts | 170/4 | €194,676 | €166,834 | -€27,842 | -14.3% |
| Amounts payable within one year | 42/48 | €88,338 | €160,986 | +€72,648 | +82.2% |
| Current portion of amounts payable after more than one year | 42 | €26,705 | €27,842 | +€1,137 | +4.3% |
| Trade debts | 44 | €2,700 | €36,308 | +€33,608 | +1244.9% |
| Suppliers | 440/4 | €2,700 | €36,308 | +€33,608 | +1244.9% |
| Taxes, remuneration and social security | 45 | €19,948 | €65,739 | +€45,791 | +229.5% |
| Taxes | 450/3 | €19,948 | €65,739 | +€45,791 | +229.5% |
| Other amounts payable | 47/48 | €38,986 | €31,098 | -€7,888 | -20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,239 | €25,797 | -€443 | -1.7% |
| Other operating charges | 640/8 | €1,226 | €3,733 | +€2,507 | +204.4% |
| Gross operating margin | 9900 | €386,873 | €532,210 | +€145,338 | +37.6% |
| Operating profit (loss) | 9901 | €359,407 | €502,681 | +€143,274 | +39.9% |
| Financial income | 75/76B | €10,407 | €14,738 | +€4,332 | +41.6% |
| Recurring financial income | 75 | €10,407 | €14,738 | +€4,332 | +41.6% |
| Financial charges | 65/66B | €11,259 | €9,143 | -€2,116 | -18.8% |
| Recurring financial charges | 65 | €11,259 | €9,143 | -€2,116 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €358,555 | €508,276 | +€149,721 | +41.8% |
| Income taxes | 67/77 | €111,088 | €159,757 | +€48,669 | +43.8% |
| Profit (loss) for the period | 9904 | €247,466 | €348,518 | +€101,052 | +40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €247,466 | €348,518 | +€101,052 | +40.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.