Minnehaha: 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.
What changed
Minnehaha
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€323,236
2024 · €634,669-€311,434
Equity
€9.2m
2024 · €8.9m+€323,236
Cash
€372,998
2024 · €37,646+€335,352
Balance sheet total
€10.4m
2024 · €10.0m+€409,496
Largest movements
Assets
- Cash +€335,352
up €335,352 (+891%), from €37,646 to €372,998
mainly Net result for the year (+€323,236) and Trade debts (+€40,777)
Equity and liabilities
- Reserves +€323,236
up €323,236 (+39.4%), from €820,838 to €1.1m
Income statement
- Financial income -€357,279
down €357,279 (-58.1%), from €615,128 to €257,849
- Turnover +€212,239
up €212,239 (+54.6%), from €388,677 to €600,917
- Services and other goods +€82,463
up €82,463 (+85.9%), from €95,948 to €178,411
- Staff costs +€43,994
up €43,994 (+29.0%), from €151,931 to €195,925
- Goods and materials +€29,773
up €29,773 (+36.8%), from €81,000 to €110,773
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.
Result 2024
€634,669
Turnover
+€212,239
Other operating income
+€1,765
Goods and materials
-€29,773
Services and other goods
-€82,463
Staff costs
-€43,994
Depreciation
+€14,518
Other operating charges
+€212
Financial income
-€357,279
Financial charges
-€3,060
Taxes
-€23,600
Result 2025
€323,236
raises the resultlowers the result
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.
From operations
+€342,056
Investment
-€36,520
Financing
+€29,816
Cash 2024
€37,646
From operations (derived)
+€342,056
Net result for the year
+€323,236
Depreciation
+€6,415
Receivables within one year
-€31,067
Deferred charges and accrued income
-€12,973
Trade debts
+€40,777
Tax, wage and social debts
+€18,154
Other debts
-€1,525
Accrued charges and deferred income
-€961
Investment (derived)
-€36,520
Investment in fixed assets (net)
-€36,520
Financing
+€29,816
Debts after one year
+€19,275
Current portion of long-term debt
+€10,518
Short-term financial debts
+€24
Cash 2025
€372,998
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,007,850 | €10,417,346 | +€409,496 | +4.1% |
| Fixed assets | 21/28 | €8,900,947 | €8,931,052 | +€30,104 | +0.3% |
| Tangible fixed assets | 22/27 | €3,836 | €33,941 | +€30,104 | +785% |
| Furniture and vehicles | 24 | €3,836 | €33,941 | +€30,104 | +785% |
| Financial fixed assets | 28 | €8,897,111 | €8,897,111 | = | 0.0% |
| Affiliated companies | 280/1 | €8,874,361 | €8,874,361 | = | 0.0% |
| Participating interests | 280 | €8,874,361 | €8,874,361 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €22,500 | €22,500 | = | 0.0% |
| Participating interests | 282 | €22,500 | €22,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €250 | €250 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,106,902 | €1,486,294 | +€379,392 | +34.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,055,852 | €1,086,919 | +€31,067 | +2.9% |
| Trade receivables | 40 | €170,726 | €150,432 | -€20,294 | -11.9% |
| Other amounts receivable | 41 | €885,126 | €936,487 | +€51,361 | +5.8% |
| Cash at bank and in hand | 54/58 | €37,646 | €372,998 | +€335,352 | +891% |
| Deferred charges and accrued income | 490/1 | €13,404 | €26,377 | +€12,973 | +96.8% |
| Total equity and liabilities | 10/49 | €10,007,850 | €10,417,346 | +€409,496 | +4.1% |
| Equity | 10/15 | €8,923,841 | €9,247,077 | +€323,236 | +3.6% |
| Contributions | 10/11 | €8,103,003 | €8,103,003 | = | 0.0% |
| Reserves | 13 | €820,838 | €1,144,074 | +€323,236 | +39.4% |
| Distributable reserves | 133 | €820,838 | €1,144,074 | +€323,236 | +39.4% |
| Amounts payable | 17/49 | €1,084,008 | €1,170,269 | +€86,261 | +8.0% |
| Amounts payable after more than one year | 17 | €0 | €19,275 | +€19,275 | |
| Financial debts | 170/4 | €0 | €19,275 | +€19,275 | |
| Credit institutions | 173 | €0 | €19,275 | +€19,275 | |
| Amounts payable within one year | 42/48 | €1,072,761 | €1,140,709 | +€67,947 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €1,656 | €12,173 | +€10,518 | +635% |
| Financial debts | 43 | €9,462 | €9,486 | +€24 | +0.3% |
| Credit institutions | 430/8 | €9,462 | €9,486 | +€24 | +0.3% |
| Trade debts | 44 | €7,650 | €48,427 | +€40,777 | +533% |
| Suppliers | 440/4 | €7,650 | €48,427 | +€40,777 | +533% |
| Taxes, remuneration and social security | 45 | €34,077 | €52,232 | +€18,154 | +53.3% |
| Taxes | 450/3 | €12,009 | €26,133 | +€14,124 | +118% |
| Remuneration and social security | 454/9 | €22,068 | €26,099 | +€4,030 | +18.3% |
| Other amounts payable | 47/48 | €1,019,916 | €1,018,390 | -€1,525 | -0.1% |
| Accrued charges and deferred income | 492/3 | €11,247 | €10,286 | -€961 | -8.5% |
| Operating income | 70/76A | €400,973 | €614,978 | +€214,004 | +53.4% |
| Turnover | 70 | €388,677 | €600,917 | +€212,239 | +54.6% |
| Other operating income | 74 | €12,296 | €14,061 | +€1,765 | +14.4% |
| Operating charges | 60/66A | €351,119 | €492,618 | +€141,499 | +40.3% |
| Goods for resale, raw materials and consumables | 60 | €81,000 | €110,773 | +€29,773 | +36.8% |
| Purchases | 600/8 | €81,000 | €110,773 | +€29,773 | +36.8% |
| Services and other goods | 61 | €95,948 | €178,411 | +€82,463 | +85.9% |
| Remuneration, social security and pensions | 62 | €151,931 | €195,925 | +€43,994 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,934 | €6,415 | -€14,518 | -69.4% |
| Other operating charges | 640/8 | €1,306 | €1,093 | -€212 | -16.2% |
| Operating profit (loss) | 9901 | €49,855 | €122,360 | +€72,505 | +145% |
| Financial income | 75/76B | €615,128 | €257,849 | -€357,279 | -58.1% |
| Recurring financial income | 75 | €615,128 | €257,849 | -€357,279 | -58.1% |
| Income from financial fixed assets | 750 | €599,500 | €226,433 | -€373,067 | -62.2% |
| Income from current assets | 751 | €15,163 | €30,696 | +€15,532 | +102% |
| Other financial income | 752/9 | €464 | €720 | +€256 | +55.1% |
| Financial charges | 65/66B | €16,555 | €19,615 | +€3,060 | +18.5% |
| Recurring financial charges | 65 | €16,555 | €19,615 | +€3,060 | +18.5% |
| Debt charges | 650 | €510 | €980 | +€470 | +92.1% |
| Other financial charges | 652/9 | €16,045 | €18,635 | +€2,590 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €648,427 | €360,593 | -€287,834 | -44.4% |
| Income taxes | 67/77 | €13,758 | €37,358 | +€23,600 | +172% |
| Taxes | 670/3 | €13,758 | €37,358 | +€23,600 | +172% |
| Profit (loss) for the period | 9904 | €634,669 | €323,236 | -€311,434 | -49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €634,669 | €323,236 | -€311,434 | -49.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.