Minois: 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.
Minois
Largest movements
- Cash -€1.1m
down €1.1m (-72.7%), from €1.5m to €406,235
mainly Receivables after one year (-€758,103) and Current investments (-€603,000)
- Receivables after one year +€758,103
up €758,103 (+1,178%), from €64,364 to €822,467
- Current investments +€603,000
new in 2025: €603,000
- Tangible fixed assets -€50,729
down €50,729 (-8.0%), from €636,324 to €585,595
- Reserves +€221,665
up €221,665 (+124%), from €178,929 to €400,594
- Tax, wage and social debts +€50,396
up €50,396 (+341%), from €14,760 to €65,156
- Debts after one year -€27,602
down €27,602 (-3.3%), from €847,602 to €820,000
- Gross operating margin +€55,642
up €55,642 (+12.0%), from €464,660 to €520,302
- Depreciation -€49,137
down €49,137 (-33.8%), from €145,505 to €96,368
- Taxes +€42,450
up €42,450 (+69.9%), from €60,726 to €103,176
- Financial income +€25,814
up €25,814 (+545%), from €4,740 to €30,554
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 | €2,219,440 | €2,459,097 | +€239,656 | +10.8% |
| Fixed assets | 21/28 | €636,324 | €585,595 | -€50,729 | -8.0% |
| Tangible fixed assets | 22/27 | €636,324 | €585,595 | -€50,729 | -8.0% |
| Land and buildings | 22 | €636,324 | €585,595 | -€50,729 | -8.0% |
| Current assets | 29/58 | €1,583,116 | €1,873,501 | +€290,385 | +18.3% |
| Amounts receivable after more than one year | 29 | €64,364 | €822,467 | +€758,103 | +1,178% |
| Other amounts receivable | 291 | €64,364 | €822,467 | +€758,103 | +1,178% |
| Amounts receivable within one year | 40/41 | €23,636 | €27,169 | +€3,533 | +14.9% |
| Trade receivables | 40 | €10,638 | €17,459 | +€6,821 | +64.1% |
| Other amounts receivable | 41 | €12,998 | €9,710 | -€3,288 | -25.3% |
| Current investments | 50/53 | - | €603,000 | +€603,000 | |
| Cash at bank and in hand | 54/58 | €1,485,327 | €406,235 | -€1.1m | -72.7% |
| Deferred charges and accrued income | 490/1 | €9,789 | €14,631 | +€4,841 | +49.5% |
| Total equity and liabilities | 10/49 | €2,219,440 | €2,459,097 | +€239,656 | +10.8% |
| Equity | 10/15 | €1,139,984 | €1,361,649 | +€221,665 | +19.4% |
| Contributions | 10/11 | €1,040,001 | €1,040,001 | = | 0.0% |
| Reserves | 13 | €178,929 | €400,594 | +€221,665 | +124% |
| Distributable reserves | 133 | €178,929 | €400,594 | +€221,665 | +124% |
| Profit (loss) carried forward | 14 | -€78,946 | -€78,946 | = | 0.0% |
| Amounts payable | 17/49 | €1,079,456 | €1,097,448 | +€17,992 | +1.7% |
| Amounts payable after more than one year | 17 | €847,602 | €820,000 | -€27,602 | -3.3% |
| Financial debts | 170/4 | €847,602 | €820,000 | -€27,602 | -3.3% |
| Amounts payable within one year | 42/48 | €231,395 | €272,542 | +€41,148 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €23,234 | €0 | -€23,234 | -100% |
| Trade debts | 44 | €27,513 | €26,449 | -€1,064 | -3.9% |
| Suppliers | 440/4 | €27,513 | €26,449 | -€1,064 | -3.9% |
| Taxes, remuneration and social security | 45 | €14,760 | €65,156 | +€50,396 | +341% |
| Taxes | 450/3 | €14,760 | €65,156 | +€50,396 | +341% |
| Other amounts payable | 47/48 | €165,888 | €180,938 | +€15,050 | +9.1% |
| Accrued charges and deferred income | 492/3 | €460 | €4,905 | +€4,446 | +967% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,505 | €96,368 | -€49,137 | -33.8% |
| Other operating charges | 640/8 | €81,549 | €78,005 | -€3,544 | -4.3% |
| Gross operating margin | 9900 | €464,660 | €520,302 | +€55,642 | +12.0% |
| Operating profit (loss) | 9901 | €237,606 | €345,930 | +€108,323 | +45.6% |
| Financial income | 75/76B | €4,740 | €30,554 | +€25,814 | +545% |
| Recurring financial income | 75 | €4,740 | €30,554 | +€25,814 | +545% |
| Financial charges | 65/66B | €52,105 | €51,643 | -€462 | -0.9% |
| Recurring financial charges | 65 | €52,105 | €51,643 | -€462 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €190,242 | €324,840 | +€134,599 | +70.8% |
| Income taxes | 67/77 | €60,726 | €103,176 | +€42,450 | +69.9% |
| Profit (loss) for the period | 9904 | €129,516 | €221,665 | +€92,149 | +71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €129,516 | €221,665 | +€92,149 | +71.1% |
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 14 October 2026 via checked.be.