Mingneau: 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.
Mingneau
Largest movements
- Current investments +€373,625
up €373,625 (+124.5%), from €300,000 to €673,625
- Tangible fixed assets -€132,955
down €132,955 (-6.4%), from €2.1m to €2.0m
of which Land and buildings: -€134,573
- Cash +€34,713
up €34,713 (+17.9%), from €193,744 to €228,457
mainly Net result for the year (+€444,004) and Depreciation (+€170,665)
- Reserves +€1.3m
up €1.3m (+349.6%), from €385,111 to €1.7m
of which Distributable reserves: +€1.2m
- Profit (loss) carried forward -€902,287
down €902,287 (-100.0%), from €902,287 to €0
- Debts after one year -€136,333
down €136,333 (-12.8%), from €1.1m to €926,556
- Trade debts -€47,328
down €47,328 (-45.7%), from €103,476 to €56,148
- Gross operating margin +€143,619
up €143,619 (+11.3%), from €1.3m to €1.4m
- Taxes +€34,867
up €34,867 (+31.3%), from €111,552 to €146,418
- Staff costs +€25,383
up €25,383 (+4.2%), from €608,494 to €633,878
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 | €2,664,098 | €2,943,588 | +€279,490 | +10.5% |
| Fixed assets | 21/28 | €2,089,979 | €1,957,014 | -€132,965 | -6.4% |
| Intangible fixed assets | 21 | €40 | €30 | -€10 | -25.0% |
| Tangible fixed assets | 22/27 | €2,089,439 | €1,956,484 | -€132,955 | -6.4% |
| Land and buildings | 22 | €1,978,518 | €1,843,946 | -€134,573 | -6.8% |
| Plant, machinery and equipment | 23 | €110,512 | €112,301 | +€1,789 | +1.6% |
| Furniture and vehicles | 24 | €409 | €237 | -€171 | -42.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €574,120 | €986,574 | +€412,454 | +71.8% |
| Stocks and contracts in progress | 3 | €73,113 | €75,884 | +€2,771 | +3.8% |
| Stocks | 30/36 | €73,113 | €75,884 | +€2,771 | +3.8% |
| Amounts receivable within one year | 40/41 | €6,977 | €8,343 | +€1,366 | +19.6% |
| Trade receivables | 40 | €6,214 | €7,033 | +€819 | +13.2% |
| Other amounts receivable | 41 | €763 | €1,310 | +€546 | +71.6% |
| Current investments | 50/53 | €300,000 | €673,625 | +€373,625 | +124.5% |
| Cash at bank and in hand | 54/58 | €193,744 | €228,457 | +€34,713 | +17.9% |
| Deferred charges and accrued income | 490/1 | €286 | €265 | -€21 | -7.4% |
| Total equity and liabilities | 10/49 | €2,664,098 | €2,943,588 | +€279,490 | +10.5% |
| Equity | 10/15 | €1,305,997 | €1,750,002 | +€444,004 | +34.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €385,111 | €1,731,402 | +€1.3m | +349.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €109,165 | €243,885 | +€134,720 | +123.4% |
| Distributable reserves | 133 | €275,946 | €1,487,517 | +€1.2m | +439.1% |
| Profit (loss) carried forward | 14 | €902,287 | €0 | -€902,287 | -100.0% |
| Amounts payable | 17/49 | €1,358,101 | €1,193,587 | -€164,515 | -12.1% |
| Amounts payable after more than one year | 17 | €1,062,889 | €926,556 | -€136,333 | -12.8% |
| Financial debts | 170/4 | €1,062,889 | €926,556 | -€136,333 | -12.8% |
| Amounts payable within one year | 42/48 | €294,431 | €240,182 | -€54,250 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €136,333 | €136,333 | = | 0.0% |
| Trade debts | 44 | €103,476 | €56,148 | -€47,328 | -45.7% |
| Suppliers | 440/4 | €103,476 | €56,148 | -€47,328 | -45.7% |
| Taxes, remuneration and social security | 45 | €49,553 | €42,437 | -€7,116 | -14.4% |
| Taxes | 450/3 | €20,765 | €12,740 | -€8,026 | -38.6% |
| Remuneration and social security | 454/9 | €28,788 | €29,697 | +€909 | +3.2% |
| Other amounts payable | 47/48 | €5,069 | €5,264 | +€195 | +3.8% |
| Accrued charges and deferred income | 492/3 | €781 | €26,849 | +€26,068 | +3338.0% |
| Remuneration, social security and pensions | 62 | €608,494 | €633,878 | +€25,383 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,847 | €170,665 | -€183 | -0.1% |
| Other operating charges | 640/8 | €7,649 | €13,520 | +€5,871 | +76.7% |
| Gross operating margin | 9900 | €1,270,843 | €1,414,462 | +€143,619 | +11.3% |
| Operating profit (loss) | 9901 | €483,852 | €596,399 | +€112,548 | +23.3% |
| Financial income | 75/76B | €41 | €10,901 | +€10,861 | +26724.2% |
| Recurring financial income | 75 | €41 | €10,901 | +€10,861 | +26724.2% |
| Financial charges | 65/66B | €19,960 | €16,878 | -€3,081 | -15.4% |
| Recurring financial charges | 65 | €19,960 | €16,878 | -€3,081 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €463,933 | €590,422 | +€126,490 | +27.3% |
| Income taxes | 67/77 | €111,552 | €146,418 | +€34,867 | +31.3% |
| Profit (loss) for the period | 9904 | €352,381 | €444,004 | +€91,623 | +26.0% |
| Transfer to tax-exempt reserves | 689 | €109,165 | €134,720 | +€25,555 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €243,216 | €309,284 | +€66,068 | +27.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.