MINO: what changed
MINO
Largest movements
- Cash -€51,834
down €51,834 (-56.5%), from €91,805 to €39,971
mainly Contributions, distributions and other (-€86,719) and Receivables within one year (-€22,512)
- Receivables within one year +€22,512
up €22,512 (+20.1%), from €111,940 to €134,452
of which Trade receivables: +€29,281
- Tangible fixed assets -€9,413
down €9,413 (-9.7%), from €97,332 to €87,919
of which Furniture and vehicles: -€10,607
- Reserves -€17,262
down €17,262 (-6.9%), from €250,530 to €233,268
- Short-term financial debts -€8,333
no longer reported in 2025 (was €8,333)
- Debts after one year -€5,149
no longer reported in 2025 (was €5,149)
- Current portion of long-term debt -€5,048
down €5,048 (-49.5%), from €10,197 to €5,149
- Tax, wage and social debts -€4,558
down €4,558 (-26.4%), from €17,246 to €12,688
- Gross operating margin +€21,513
up €21,513 (+20.3%), from €106,179 to €127,692
- Taxes +€10,354
up €10,354 (+47.0%), from €22,027 to €32,381
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €301,077 | €262,343 | -€38,735 | -12.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €97,332 | €87,919 | -€9,413 | -9.7% |
| Tangible fixed assets | 22/27 | €97,332 | €87,919 | -€9,413 | -9.7% |
| Land and buildings | 22 | €12,558 | €10,870 | -€1,688 | -13.4% |
| Plant, machinery and equipment | 23 | €1,753 | €4,634 | +€2,881 | +164% |
| Furniture and vehicles | 24 | €83,021 | €72,415 | -€10,607 | -12.8% |
| Current assets | 29/58 | €203,745 | €174,423 | -€29,321 | -14.4% |
| Amounts receivable within one year | 40/41 | €111,940 | €134,452 | +€22,512 | +20.1% |
| Trade receivables | 40 | €84,700 | €113,981 | +€29,281 | +34.6% |
| Other amounts receivable | 41 | €27,240 | €20,472 | -€6,768 | -24.8% |
| Cash at bank and in hand | 54/58 | €91,805 | €39,971 | -€51,834 | -56.5% |
| Total equity and liabilities | 10/49 | €301,077 | €262,343 | -€38,735 | -12.9% |
| Equity | 10/15 | €253,530 | €236,268 | -€17,262 | -6.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €250,530 | €233,268 | -€17,262 | -6.9% |
| Distributable reserves | 133 | €250,530 | €233,268 | -€17,262 | -6.9% |
| Amounts payable | 17/49 | €47,547 | €26,075 | -€21,472 | -45.2% |
| Amounts payable after more than one year | 17 | €5,149 | - | -€5,149 | |
| Financial debts | 170/4 | €5,149 | - | -€5,149 | |
| Amounts payable within one year | 42/48 | €42,398 | €26,075 | -€16,324 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €10,197 | €5,149 | -€5,048 | -49.5% |
| Financial debts | 43 | €8,333 | - | -€8,333 | |
| Credit institutions | 430/8 | €8,333 | - | -€8,333 | |
| Trade debts | 44 | €3,583 | €5,136 | +€1,553 | +43.3% |
| Suppliers | 440/4 | €3,583 | €5,136 | +€1,553 | +43.3% |
| Taxes, remuneration and social security | 45 | €17,246 | €12,688 | -€4,558 | -26.4% |
| Taxes | 450/3 | €17,246 | €12,688 | -€4,558 | -26.4% |
| Other amounts payable | 47/48 | €3,039 | €3,102 | +€62 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,483 | €19,602 | +€1,119 | +6.1% |
| Other operating charges | 640/8 | €4,042 | €3,904 | -€138 | -3.4% |
| Gross operating margin | 9900 | €106,179 | €127,692 | +€21,513 | +20.3% |
| Operating profit (loss) | 9901 | €83,654 | €104,186 | +€20,532 | +24.5% |
| Financial income | 75/76B | €1,131 | €1,375 | +€244 | +21.5% |
| Recurring financial income | 75 | €1,131 | €1,375 | +€244 | +21.5% |
| Financial charges | 65/66B | €4,589 | €3,723 | -€866 | -18.9% |
| Recurring financial charges | 65 | €4,589 | €3,723 | -€866 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €80,196 | €101,838 | +€21,642 | +27.0% |
| Income taxes | 67/77 | €22,027 | €32,381 | +€10,354 | +47.0% |
| Profit (loss) for the period | 9904 | €58,169 | €69,457 | +€11,288 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,169 | €69,457 | +€11,288 | +19.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.