MINNEVOET: 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.
MINNEVOET
Largest movements
- Tangible fixed assets -€147,193
down €147,193 (-4.3%), from €3.4m to €3.3m
- Cash +€59,020
up €59,020 (+70.5%), from €83,705 to €142,725
mainly Depreciation (+€203,463) and Net result for the year (+€116,649)
- Other debts -€200,000
down €200,000 (-10.1%), from €2.0m to €1.8m
- Profit (loss) carried forward +€116,649
up €116,649 (+12.0%), from €970,409 to €1.1m
- Gross operating margin +€16,349
up €16,349 (+4.2%), from €387,847 to €404,196
- Depreciation +€6,941
up €6,941 (+3.5%), from €196,522 to €203,463
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 | €3,515,021 | €3,425,127 | -€89,895 | -2.6% |
| Fixed assets | 21/28 | €3,400,118 | €3,252,925 | -€147,193 | -4.3% |
| Tangible fixed assets | 22/27 | €3,400,118 | €3,252,925 | -€147,193 | -4.3% |
| Land and buildings | 22 | €3,400,118 | €3,252,925 | -€147,193 | -4.3% |
| Current assets | 29/58 | €114,904 | €172,202 | +€57,299 | +49.9% |
| Amounts receivable within one year | 40/41 | €28,936 | €29,478 | +€542 | +1.9% |
| Trade receivables | 40 | €28,936 | €29,478 | +€542 | +1.9% |
| Cash at bank and in hand | 54/58 | €83,705 | €142,725 | +€59,020 | +70.5% |
| Deferred charges and accrued income | 490/1 | €2,263 | - | -€2,263 | |
| Total equity and liabilities | 10/49 | €3,515,021 | €3,425,127 | -€89,895 | -2.6% |
| Equity | 10/15 | €1,490,969 | €1,607,618 | +€116,649 | +7.8% |
| Contributions | 10/11 | €109,600 | €109,600 | = | 0.0% |
| Capital | 10 | €109,600 | €109,600 | = | 0.0% |
| Issued capital | 100 | €109,600 | €109,600 | = | 0.0% |
| Reserves | 13 | €410,960 | €410,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,960 | €10,960 | = | 0.0% |
| Legal reserve | 130 | €10,960 | €10,960 | = | 0.0% |
| Distributable reserves | 133 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €970,409 | €1,087,058 | +€116,649 | +12.0% |
| Amounts payable | 17/49 | €2,024,052 | €1,817,509 | -€206,543 | -10.2% |
| Amounts payable after more than one year | 17 | €36,270 | €36,570 | +€300 | +0.8% |
| Other amounts payable | 178/9 | €36,270 | €36,570 | +€300 | +0.8% |
| Amounts payable within one year | 42/48 | €1,986,082 | €1,780,939 | -€205,143 | -10.3% |
| Trade debts | 44 | €2,990 | €1,548 | -€1,442 | -48.2% |
| Suppliers | 440/4 | €2,990 | €1,548 | -€1,442 | -48.2% |
| Taxes, remuneration and social security | 45 | €8,092 | €4,391 | -€3,702 | -45.7% |
| Taxes | 450/3 | €8,092 | €4,391 | -€3,702 | -45.7% |
| Other amounts payable | 47/48 | €1,975,000 | €1,775,000 | -€200,000 | -10.1% |
| Accrued charges and deferred income | 492/3 | €1,700 | - | -€1,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,522 | €203,463 | +€6,941 | +3.5% |
| Other operating charges | 640/8 | €43,424 | €44,777 | +€1,352 | +3.1% |
| Gross operating margin | 9900 | €387,847 | €404,196 | +€16,349 | +4.2% |
| Operating profit (loss) | 9901 | €147,901 | €155,957 | +€8,056 | +5.4% |
| Financial income | 75/76B | €268 | - | -€268 | |
| Recurring financial income | 75 | €268 | - | -€268 | |
| Financial charges | 65/66B | €441 | €378 | -€63 | -14.3% |
| Recurring financial charges | 65 | €441 | €378 | -€63 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €147,728 | €155,579 | +€7,851 | +5.3% |
| Income taxes | 67/77 | €36,813 | €38,930 | +€2,117 | +5.8% |
| Profit (loss) for the period | 9904 | €110,915 | €116,649 | +€5,734 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €110,915 | €116,649 | +€5,734 | +5.2% |
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.