Minos: 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.
Minos
Largest movements
- Tangible fixed assets -€19,788
down €19,788 (-5.0%), from €392,115 to €372,328
of which Land and buildings: -€16,864
- Cash +€14,059
up €14,059 (+25.3%), from €55,668 to €69,727
mainly Other debts (+€52,054) and Net result for the year (+€36,289)
- Other debts +€52,054
up €52,054 (+156%), from €33,313 to €85,367
- Reserves -€45,894
down €45,894 (-52.3%), from €87,809 to €41,915
- Debts after one year -€31,752
down €31,752 (-11.3%), from €280,897 to €249,145
- Tax, wage and social debts +€8,567
up €8,567 (+62.0%), from €13,809 to €22,376
of which Taxes: +€6,491
- Short-term financial debts +€7,000
new in 2025: €7,000
- Gross operating margin +€31,410
up €31,410 (+58.0%), from €54,138 to €85,548
- Taxes +€9,025
up €9,025 (+129%), from €6,990 to €16,016
- Other operating charges -€1,069
down €1,069 (-16.9%), from €6,344 to €5,275
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 | €466,575 | €460,865 | -€5,710 | -1.2% |
| Fixed assets | 21/28 | €397,477 | €376,347 | -€21,130 | -5.3% |
| Tangible fixed assets | 22/27 | €392,115 | €372,328 | -€19,788 | -5.0% |
| Land and buildings | 22 | €381,774 | €364,909 | -€16,864 | -4.4% |
| Plant, machinery and equipment | 23 | €4,207 | €2,791 | -€1,417 | -33.7% |
| Furniture and vehicles | 24 | €6,134 | €4,628 | -€1,507 | -24.6% |
| Financial fixed assets | 28 | €5,361 | €4,019 | -€1,342 | -25.0% |
| Current assets | 29/58 | €69,099 | €84,518 | +€15,420 | +22.3% |
| Amounts receivable within one year | 40/41 | €12,641 | €13,908 | +€1,267 | +10.0% |
| Trade receivables | 40 | €12,100 | €11,495 | -€605 | -5.0% |
| Other amounts receivable | 41 | €541 | €2,413 | +€1,872 | +346% |
| Cash at bank and in hand | 54/58 | €55,668 | €69,727 | +€14,059 | +25.3% |
| Deferred charges and accrued income | 490/1 | €790 | €883 | +€93 | +11.8% |
| Total equity and liabilities | 10/49 | €466,575 | €460,865 | -€5,710 | -1.2% |
| Equity | 10/15 | €106,409 | €60,515 | -€45,894 | -43.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,809 | €41,915 | -€45,894 | -52.3% |
| Distributable reserves | 133 | €87,809 | €41,915 | -€45,894 | -52.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €360,166 | €400,350 | +€40,184 | +11.2% |
| Amounts payable after more than one year | 17 | €280,897 | €249,145 | -€31,752 | -11.3% |
| Financial debts | 170/4 | €280,897 | €249,145 | -€31,752 | -11.3% |
| Amounts payable within one year | 42/48 | €79,270 | €150,191 | +€70,922 | +89.5% |
| Current portion of amounts payable after more than one year | 42 | €31,245 | €31,752 | +€507 | +1.6% |
| Financial debts | 43 | - | €7,000 | +€7,000 | |
| Other loans | 439 | - | €7,000 | +€7,000 | |
| Trade debts | 44 | €903 | €3,696 | +€2,793 | +309% |
| Suppliers | 440/4 | €903 | €3,696 | +€2,793 | +309% |
| Taxes, remuneration and social security | 45 | €13,809 | €22,376 | +€8,567 | +62.0% |
| Taxes | 450/3 | €13,809 | €20,299 | +€6,491 | +47.0% |
| Remuneration and social security | 454/9 | €0 | €2,077 | +€2,077 | |
| Other amounts payable | 47/48 | €33,313 | €85,367 | +€52,054 | +156% |
| Accrued charges and deferred income | 492/3 | - | €1,014 | +€1,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,900 | €21,535 | -€365 | -1.7% |
| Other operating charges | 640/8 | €6,344 | €5,275 | -€1,069 | -16.9% |
| Gross operating margin | 9900 | €54,138 | €85,548 | +€31,410 | +58.0% |
| Operating profit (loss) | 9901 | €25,894 | €58,738 | +€32,845 | +127% |
| Financial income | 75/76B | €142 | €319 | +€177 | +125% |
| Recurring financial income | 75 | €142 | €319 | +€177 | +125% |
| Financial charges | 65/66B | €6,180 | €6,752 | +€572 | +9.3% |
| Recurring financial charges | 65 | €6,180 | €6,752 | +€572 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €19,855 | €52,305 | +€32,450 | +163% |
| Income taxes | 67/77 | €6,990 | €16,016 | +€9,025 | +129% |
| Profit (loss) for the period | 9904 | €12,865 | €36,289 | +€23,424 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €12,865 | €36,289 | +€23,424 | +182% |
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 13 October 2026 via checked.be.