MINOA: 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.
MINOA
Largest movements
- Cash -€71,759
down €71,759 (-22.7%), from €316,150 to €244,391
mainly Net result for the year (-€74,180) and Investment in fixed assets (net) (-€32,683)
- Receivables within one year -€12,856
down €12,856 (-46.5%), from €27,639 to €14,783
of which Other amounts receivable: -€11,247
- Tangible fixed assets +€12,595
up €12,595 (+15.7%), from €80,234 to €92,829
of which Other tangible fixed assets: +€11,347
- Stocks and contracts +€4,678
up €4,678 (+74.2%), from €6,304 to €10,982
- Profit (loss) carried forward -€74,180
new in 2025: -€74,180
- Tax, wage and social debts +€11,234
up €11,234 (+14.8%), from €76,016 to €87,250
of which Remuneration and social security: +€14,410
- Trade debts -€8,209
down €8,209 (-19.1%), from €42,935 to €34,726
- Other debts +€7,522
up €7,522 (+154.7%), from €4,863 to €12,385
- Gross operating margin -€107,459
down €107,459 (-23.9%), from €450,211 to €342,752
- Staff costs +€17,104
up €17,104 (+4.8%), from €357,284 to €374,389
- Taxes -€14,185
down €14,185 (-97.3%), from €14,575 to €391
- Financial charges +€6,356
up €6,356 (+68.8%), from €9,242 to €15,599
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 | €432,394 | €368,761 | -€63,633 | -14.7% |
| Fixed assets | 21/28 | €80,434 | €93,529 | +€13,095 | +16.3% |
| Tangible fixed assets | 22/27 | €80,234 | €92,829 | +€12,595 | +15.7% |
| Plant, machinery and equipment | 23 | €10,943 | €7,480 | -€3,463 | -31.6% |
| Furniture and vehicles | 24 | €8,279 | €12,991 | +€4,711 | +56.9% |
| Other tangible fixed assets | 26 | €61,011 | €72,358 | +€11,347 | +18.6% |
| Financial fixed assets | 28 | €200 | €700 | +€500 | +250.0% |
| Current assets | 29/58 | €351,960 | €275,231 | -€76,729 | -21.8% |
| Stocks and contracts in progress | 3 | €6,304 | €10,982 | +€4,678 | +74.2% |
| Stocks | 30/36 | €6,304 | €10,982 | +€4,678 | +74.2% |
| Amounts receivable within one year | 40/41 | €27,639 | €14,783 | -€12,856 | -46.5% |
| Trade receivables | 40 | €2,247 | €638 | -€1,609 | -71.6% |
| Other amounts receivable | 41 | €25,392 | €14,145 | -€11,247 | -44.3% |
| Cash at bank and in hand | 54/58 | €316,150 | €244,391 | -€71,759 | -22.7% |
| Deferred charges and accrued income | 490/1 | €1,867 | €5,075 | +€3,208 | +171.8% |
| Total equity and liabilities | 10/49 | €432,394 | €368,761 | -€63,633 | -14.7% |
| Equity | 10/15 | €308,579 | €234,399 | -€74,180 | -24.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €289,979 | €289,979 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €289,979 | €289,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€74,180 | -€74,180 | |
| Amounts payable | 17/49 | €123,814 | €134,362 | +€10,547 | +8.5% |
| Amounts payable within one year | 42/48 | €123,814 | €134,362 | +€10,547 | +8.5% |
| Trade debts | 44 | €42,935 | €34,726 | -€8,209 | -19.1% |
| Suppliers | 440/4 | €42,935 | €34,726 | -€8,209 | -19.1% |
| Taxes, remuneration and social security | 45 | €76,016 | €87,250 | +€11,234 | +14.8% |
| Taxes | 450/3 | €33,026 | €29,849 | -€3,177 | -9.6% |
| Remuneration and social security | 454/9 | €42,990 | €57,401 | +€14,410 | +33.5% |
| Other amounts payable | 47/48 | €4,863 | €12,385 | +€7,522 | +154.7% |
| Remuneration, social security and pensions | 62 | €357,284 | €374,389 | +€17,104 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,428 | €19,588 | +€4,159 | +27.0% |
| Other operating charges | 640/8 | €4,497 | €7,126 | +€2,629 | +58.5% |
| Gross operating margin | 9900 | €450,211 | €342,752 | -€107,459 | -23.9% |
| Operating profit (loss) | 9901 | €73,002 | -€58,350 | -€131,352 | |
| Financial income | 75/76B | €128 | €159 | +€31 | +24.4% |
| Recurring financial income | 75 | €128 | €159 | +€31 | +24.4% |
| Financial charges | 65/66B | €9,242 | €15,599 | +€6,356 | +68.8% |
| Recurring financial charges | 65 | €9,242 | €15,599 | +€6,356 | +68.8% |
| Profit (loss) for the period before taxes | 9903 | €63,887 | -€73,790 | -€137,677 | |
| Income taxes | 67/77 | €14,575 | €391 | -€14,185 | -97.3% |
| Profit (loss) for the period | 9904 | €49,312 | -€74,180 | -€123,493 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,312 | -€74,180 | -€123,493 |
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 11 October 2026 via checked.be.