MINNE: 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.
MINNE
Largest movements
- Tangible fixed assets -€75,399
down €75,399 (-10.2%), from €735,662 to €660,263
of which Land and buildings: -€65,343
- Receivables within one year -€58,072
down €58,072 (-24.8%), from €233,811 to €175,740
of which Trade receivables: -€56,705
- Stocks and contracts -€37,168
down €37,168 (-3.0%), from €1.3m to €1.2m
- Cash +€29,533
up €29,533 (+7.1%), from €415,774 to €445,307
mainly Depreciation (+€140,474) and Net result for the year (+€126,564)
- Trade debts -€83,112
down €83,112 (-36.7%), from €226,612 to €143,500
- Other debts -€67,910
down €67,910 (-4.5%), from €1.5m to €1.5m
- Depreciation +€107,434
up €107,434 (+325.2%), from €33,039 to €140,474
- Gross operating margin +€46,568
up €46,568 (+7.2%), from €647,024 to €693,592
- Financial charges -€37,389
down €37,389 (-37.4%), from €100,026 to €62,637
- Staff costs -€23,702
down €23,702 (-6.0%), from €393,045 to €369,343
- Taxes -€7,193
down €7,193 (-42.8%), from €16,815 to €9,622
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 | €2,666,567 | €2,547,740 | -€118,827 | -4.5% |
| Fixed assets | 21/28 | €736,112 | €660,713 | -€75,399 | -10.2% |
| Tangible fixed assets | 22/27 | €735,662 | €660,263 | -€75,399 | -10.2% |
| Land and buildings | 22 | €649,377 | €584,034 | -€65,343 | -10.1% |
| Plant, machinery and equipment | 23 | €11,795 | €7,427 | -€4,368 | -37.0% |
| Furniture and vehicles | 24 | €74,490 | €68,802 | -€5,688 | -7.6% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €1,930,455 | €1,887,027 | -€43,428 | -2.2% |
| Stocks and contracts in progress | 3 | €1,258,930 | €1,221,761 | -€37,168 | -3.0% |
| Stocks | 30/36 | €1,258,930 | €1,221,761 | -€37,168 | -3.0% |
| Amounts receivable within one year | 40/41 | €233,811 | €175,740 | -€58,072 | -24.8% |
| Trade receivables | 40 | €212,227 | €155,522 | -€56,705 | -26.7% |
| Other amounts receivable | 41 | €21,584 | €20,217 | -€1,366 | -6.3% |
| Cash at bank and in hand | 54/58 | €415,774 | €445,307 | +€29,533 | +7.1% |
| Deferred charges and accrued income | 490/1 | €21,941 | €44,219 | +€22,279 | +101.5% |
| Total equity and liabilities | 10/49 | €2,666,567 | €2,547,740 | -€118,827 | -4.5% |
| Equity | 10/15 | €789,716 | €806,280 | +€16,564 | +2.1% |
| Contributions | 10/11 | €532,507 | €532,507 | = | 0.0% |
| Outside capital | 11 | €532,507 | €532,507 | = | 0.0% |
| Other | 1109/19 | €532,507 | €532,507 | = | 0.0% |
| Reserves | 13 | €60,043 | €60,043 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,043 | €60,043 | = | 0.0% |
| Reserves not available under the articles | 1311 | €60,043 | €60,043 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,166 | €213,730 | +€16,564 | +8.4% |
| Provisions and deferred taxes | 16 | €35,110 | €29,848 | -€5,263 | -15.0% |
| Provisions for liabilities and charges | 160/5 | €35,110 | €29,848 | -€5,263 | -15.0% |
| Environmental obligations | 163 | €35,110 | €29,848 | -€5,263 | -15.0% |
| Amounts payable | 17/49 | €1,841,741 | €1,711,613 | -€130,128 | -7.1% |
| Amounts payable within one year | 42/48 | €1,841,679 | €1,711,481 | -€130,198 | -7.1% |
| Trade debts | 44 | €226,612 | €143,500 | -€83,112 | -36.7% |
| Suppliers | 440/4 | €226,612 | €143,500 | -€83,112 | -36.7% |
| Advances received on contracts in progress | 46 | - | €3,443 | +€3,443 | |
| Taxes, remuneration and social security | 45 | €96,021 | €113,401 | +€17,381 | +18.1% |
| Taxes | 450/3 | €52,793 | €70,644 | +€17,851 | +33.8% |
| Remuneration and social security | 454/9 | €43,228 | €42,757 | -€470 | -1.1% |
| Other amounts payable | 47/48 | €1,519,046 | €1,451,136 | -€67,910 | -4.5% |
| Accrued charges and deferred income | 492/3 | €62 | €132 | +€70 | +114.2% |
| Remuneration, social security and pensions | 62 | €393,045 | €369,343 | -€23,702 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,039 | €140,474 | +€107,434 | +325.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€680 | -€5,263 | -€4,583 | -673.6% |
| Other operating charges | 640/8 | €9,057 | €10,932 | +€1,875 | +20.7% |
| Gross operating margin | 9900 | €647,024 | €693,592 | +€46,568 | +7.2% |
| Operating profit (loss) | 9901 | €212,563 | €178,106 | -€34,457 | -16.2% |
| Financial income | 75/76B | €22,576 | €20,716 | -€1,860 | -8.2% |
| Recurring financial income | 75 | €22,576 | €20,716 | -€1,860 | -8.2% |
| Financial charges | 65/66B | €100,026 | €62,637 | -€37,389 | -37.4% |
| Recurring financial charges | 65 | €100,026 | €62,637 | -€37,389 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €135,114 | €136,185 | +€1,072 | +0.8% |
| Transfer from deferred taxes | 780 | €1,010 | - | -€1,010 | |
| Income taxes | 67/77 | €16,815 | €9,622 | -€7,193 | -42.8% |
| Profit (loss) for the period | 9904 | €119,308 | €126,564 | +€7,255 | +6.1% |
| Transfer from tax-exempt reserves | 789 | €3,032 | - | -€3,032 | |
| Profit (loss) for the period to be appropriated | 9905 | €122,341 | €126,564 | +€4,223 | +3.5% |
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 3 October 2026 via checked.be.