MINIMUM: what changed
Two financial 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.
MINIMUM
Largest movements
- Current investments +€253,992
new in 2025: €253,992
- Cash -€222,653
down €222,653 (-87.4%), from €254,818 to €32,165
mainly Current investments (-€253,992) and Contributions, distributions and other (-€96,904)
- Receivables within one year -€29,020
down €29,020 (-14.7%), from €197,548 to €168,528
of which Trade receivables: -€33,841
- Tangible fixed assets -€25,987
down €25,987 (-22.8%), from €113,763 to €87,776
of which Furniture and vehicles: -€25,233
- Reserves -€23,192
down €23,192 (-5.2%), from €448,430 to €425,239
- Tax, wage and social debts +€21,845
up €21,845 (+171%), from €12,775 to €34,620
- Debts after one year -€11,962
down €11,962 (-25.0%), from €47,894 to €35,932
- Short-term financial debts +€11,962
new in 2025: €11,962
- Other debts -€11,655
down €11,655 (-41.4%), from €28,122 to €16,467
- Depreciation +€10,961
up €10,961 (+80.6%), from €13,594 to €24,554
- Taxes -€5,963
down €5,963 (-15.7%), from €38,024 to €32,060
- Gross operating margin -€3,528
down €3,528 (-2.6%), from €137,761 to €134,233
- Financial charges +€1,479
up €1,479 (+69.4%), from €2,132 to €3,611
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.
Derived cash bridge
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 | €569,432 | €545,558 | -€23,874 | -4.2% |
| Fixed assets | 21/28 | €113,763 | €87,776 | -€25,987 | -22.8% |
| Tangible fixed assets | 22/27 | €113,763 | €87,776 | -€25,987 | -22.8% |
| Land and buildings | 22 | €12,239 | €11,485 | -€754 | -6.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €101,525 | €76,292 | -€25,233 | -24.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €455,669 | €457,782 | +€2,113 | +0.5% |
| Amounts receivable within one year | 40/41 | €197,548 | €168,528 | -€29,020 | -14.7% |
| Trade receivables | 40 | €192,385 | €158,545 | -€33,841 | -17.6% |
| Other amounts receivable | 41 | €5,163 | €9,983 | +€4,820 | +93.4% |
| Current investments | 50/53 | - | €253,992 | +€253,992 | |
| Cash at bank and in hand | 54/58 | €254,818 | €32,165 | -€222,653 | -87.4% |
| Deferred charges and accrued income | 490/1 | €3,302 | €3,097 | -€206 | -6.2% |
| Total equity and liabilities | 10/49 | €569,432 | €545,558 | -€23,874 | -4.2% |
| Equity | 10/15 | €467,030 | €443,839 | -€23,192 | -5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €448,430 | €425,239 | -€23,192 | -5.2% |
| Distributable reserves | 133 | €448,430 | €425,239 | -€23,192 | -5.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €102,402 | €101,719 | -€682 | -0.7% |
| Amounts payable after more than one year | 17 | €47,894 | €35,932 | -€11,962 | -25.0% |
| Financial debts | 170/4 | €47,894 | €35,932 | -€11,962 | -25.0% |
| Amounts payable within one year | 42/48 | €54,508 | €65,788 | +€11,280 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €11,604 | €0 | -€11,604 | -100% |
| Financial debts | 43 | - | €11,962 | +€11,962 | |
| Other loans | 439 | - | €11,962 | +€11,962 | |
| Trade debts | 44 | €2,006 | €2,738 | +€732 | +36.5% |
| Suppliers | 440/4 | €2,006 | €2,738 | +€732 | +36.5% |
| Taxes, remuneration and social security | 45 | €12,775 | €34,620 | +€21,845 | +171% |
| Taxes | 450/3 | €12,775 | €34,620 | +€21,845 | +171% |
| Other amounts payable | 47/48 | €28,122 | €16,467 | -€11,655 | -41.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €8,772 | +€8,772 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,594 | €24,554 | +€10,961 | +80.6% |
| Other operating charges | 640/8 | €1,744 | €1,628 | -€116 | -6.6% |
| Gross operating margin | 9900 | €137,761 | €134,233 | -€3,528 | -2.6% |
| Operating profit (loss) | 9901 | €122,424 | €108,051 | -€14,373 | -11.7% |
| Financial income | 75/76B | €1,137 | €1,332 | +€195 | +17.2% |
| Recurring financial income | 75 | €1,137 | €1,332 | +€195 | +17.2% |
| Financial charges | 65/66B | €2,132 | €3,611 | +€1,479 | +69.4% |
| Recurring financial charges | 65 | €2,132 | €3,611 | +€1,479 | +69.4% |
| Profit (loss) for the period before taxes | 9903 | €121,429 | €105,773 | -€15,656 | -12.9% |
| Income taxes | 67/77 | €38,024 | €32,060 | -€5,963 | -15.7% |
| Profit (loss) for the period | 9904 | €83,405 | €73,712 | -€9,693 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €83,405 | €73,712 | -€9,693 | -11.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.