MINNE & MOREELS: 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.
MINNE & MOREELS
Largest movements
- Cash -€25,308
down €25,308 (-56.7%), from €44,626 to €19,318
mainly Other debts (-€39,723) and Contributions, distributions and other (-€12,000)
- Intangible fixed assets -€5,929
down €5,929 (-74.8%), from €7,930 to €2,000
- Other debts -€39,723
down €39,723 (-75.1%), from €52,918 to €13,195
- Trade debts +€8,838
up €8,838 (+30.9%), from €28,638 to €37,476
- Reserves +€2,206
up €2,206 (+20.5%), from €10,760 to €12,966
- Tax, wage and social debts -€1,559
down €1,559 (-42.8%), from €3,641 to €2,083
- Gross operating margin -€40,989
down €40,989 (-65.2%), from €62,863 to €21,873
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 | €102,158 | €71,920 | -€30,238 | -29.6% |
| Fixed assets | 21/28 | €7,930 | €2,000 | -€5,929 | -74.8% |
| Intangible fixed assets | 21 | €7,930 | €2,000 | -€5,929 | -74.8% |
| Current assets | 29/58 | €94,228 | €69,920 | -€24,308 | -25.8% |
| Amounts receivable within one year | 40/41 | €48,236 | €49,236 | +€1,000 | +2.1% |
| Trade receivables | 40 | €47,004 | €49,126 | +€2,122 | +4.5% |
| Other amounts receivable | 41 | €1,232 | €110 | -€1,122 | -91.1% |
| Cash at bank and in hand | 54/58 | €44,626 | €19,318 | -€25,308 | -56.7% |
| Deferred charges and accrued income | 490/1 | €1,366 | €1,366 | = | 0.0% |
| Total equity and liabilities | 10/49 | €102,158 | €71,920 | -€30,238 | -29.6% |
| Equity | 10/15 | €16,960 | €19,166 | +€2,206 | +13.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €10,760 | €12,966 | +€2,206 | +20.5% |
| Distributable reserves | 133 | €10,760 | €12,966 | +€2,206 | +20.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €85,198 | €52,754 | -€32,444 | -38.1% |
| Amounts payable within one year | 42/48 | €85,198 | €52,754 | -€32,444 | -38.1% |
| Trade debts | 44 | €28,638 | €37,476 | +€8,838 | +30.9% |
| Suppliers | 440/4 | €28,638 | €37,476 | +€8,838 | +30.9% |
| Taxes, remuneration and social security | 45 | €3,641 | €2,083 | -€1,559 | -42.8% |
| Taxes | 450/3 | €3,641 | €2,083 | -€1,559 | -42.8% |
| Other amounts payable | 47/48 | €52,918 | €13,195 | -€39,723 | -75.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,487 | €5,929 | -€558 | -8.6% |
| Other operating charges | 640/8 | €577 | €593 | +€16 | +2.8% |
| Gross operating margin | 9900 | €62,863 | €21,873 | -€40,989 | -65.2% |
| Operating profit (loss) | 9901 | €55,798 | €15,350 | -€40,448 | -72.5% |
| Financial income | 75/76B | €46 | €32 | -€14 | -30.8% |
| Recurring financial income | 75 | €46 | €32 | -€14 | -30.8% |
| Financial charges | 65/66B | €113 | €168 | +€55 | +48.4% |
| Recurring financial charges | 65 | €113 | €168 | +€55 | +48.4% |
| Profit (loss) for the period before taxes | 9903 | €55,731 | €15,214 | -€40,517 | -72.7% |
| Income taxes | 67/77 | €1,011 | €1,008 | -€3 | -0.3% |
| Profit (loss) for the period | 9904 | €54,720 | €14,206 | -€40,514 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,720 | €14,206 | -€40,514 | -74.0% |
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 13 October 2026 via checked.be.