MINOTAUR SOLUTIONS: 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.
MINOTAUR SOLUTIONS
Largest movements
- Receivables after one year -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Receivables within one year +€38,810
up €38,810 (+29.9%), from €129,694 to €168,504
of which Other amounts receivable: +€118,000
- Cash -€13,016
down €13,016 (-73.5%), from €17,715 to €4,699
mainly Other debts (-€93,546) and Receivables within one year (-€38,810)
- Other debts -€93,546
down €93,546 (-99.8%), from €93,696 to €150
- Trade debts +€58,213
up €58,213 (+1,387%), from €4,198 to €62,410
- Tax, wage and social debts -€22,896
down €22,896 (-56.2%), from €40,731 to €17,836
of which Taxes: -€22,896
- Profit (loss) carried forward -€10,764
down €10,764 (-15.9%), from -€67,653 to -€78,418
- Short-term financial debts -€6,874
down €6,874 (-45.2%), from €15,221 to €8,347
- Gross operating margin -€83,705
down €83,705, from €71,860 to -€11,845
- Taxes -€17,099
down €17,099 (-100%), from €17,099 to €0
- Staff costs -€8,749
down €8,749 (-100%), from €8,749 to €0
- Depreciation -€1,857
down €1,857 (-57.3%), from €3,239 to €1,382
- Write-downs -€1,815
down €1,815 (-100%), from €1,815 to €0
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 | €355,383 | €279,516 | -€75,867 | -21.3% |
| Fixed assets | 21/28 | €6,289 | €4,907 | -€1,382 | -22.0% |
| Tangible fixed assets | 22/27 | €5,569 | €4,187 | -€1,382 | -24.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,480 | €598 | -€882 | -59.6% |
| Other tangible fixed assets | 26 | €4,089 | €3,589 | -€500 | -12.2% |
| Financial fixed assets | 28 | €720 | €720 | = | 0.0% |
| Current assets | 29/58 | €349,094 | €274,609 | -€74,485 | -21.3% |
| Amounts receivable after more than one year | 29 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Other amounts receivable | 291 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €129,694 | €168,504 | +€38,810 | +29.9% |
| Trade receivables | 40 | €102,076 | €22,886 | -€79,191 | -77.6% |
| Other amounts receivable | 41 | €27,618 | €145,619 | +€118,000 | +427% |
| Cash at bank and in hand | 54/58 | €17,715 | €4,699 | -€13,016 | -73.5% |
| Deferred charges and accrued income | 490/1 | €1,684 | €1,406 | -€279 | -16.5% |
| Total equity and liabilities | 10/49 | €355,383 | €279,516 | -€75,867 | -21.3% |
| Equity | 10/15 | €201,537 | €190,773 | -€10,764 | -5.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €169,190 | €169,190 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,851 | €14,851 | = | 0.0% |
| Distributable reserves | 133 | €154,339 | €154,339 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,653 | -€78,418 | -€10,764 | -15.9% |
| Amounts payable | 17/49 | €153,846 | €88,743 | -€65,102 | -42.3% |
| Amounts payable within one year | 42/48 | €153,846 | €88,743 | -€65,102 | -42.3% |
| Financial debts | 43 | €15,221 | €8,347 | -€6,874 | -45.2% |
| Credit institutions | 430/8 | €15,221 | €8,347 | -€6,874 | -45.2% |
| Trade debts | 44 | €4,198 | €62,410 | +€58,213 | +1,387% |
| Suppliers | 440/4 | €4,198 | €62,410 | +€58,213 | +1,387% |
| Taxes, remuneration and social security | 45 | €40,731 | €17,836 | -€22,896 | -56.2% |
| Taxes | 450/3 | €40,731 | €17,836 | -€22,896 | -56.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €93,696 | €150 | -€93,546 | -99.8% |
| Non-recurring operating income | 76A | €12,328 | €0 | -€12,328 | -100% |
| Remuneration, social security and pensions | 62 | €8,749 | €0 | -€8,749 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,239 | €1,382 | -€1,857 | -57.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,815 | €0 | -€1,815 | -100% |
| Other operating charges | 640/8 | €300 | €1,023 | +€723 | +241% |
| Non-recurring operating charges | 66A | €5,177 | €0 | -€5,177 | -100% |
| Gross operating margin | 9900 | €71,860 | -€11,845 | -€83,705 | |
| Operating profit (loss) | 9901 | €52,580 | -€14,250 | -€66,831 | |
| Financial income | 75/76B | €7,380 | €5,685 | -€1,695 | -23.0% |
| Recurring financial income | 75 | €5,666 | €5,685 | +€19 | +0.3% |
| Non-recurring financial income | 76B | €1,715 | €0 | -€1,715 | -100% |
| Financial charges | 65/66B | €2,072 | €2,199 | +€127 | +6.1% |
| Recurring financial charges | 65 | €2,072 | €2,199 | +€127 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €57,888 | -€10,764 | -€68,653 | |
| Income taxes | 67/77 | €17,099 | €0 | -€17,099 | -100% |
| Profit (loss) for the period | 9904 | €40,789 | -€10,764 | -€51,553 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,789 | -€10,764 | -€51,553 |
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 17 October 2026 via checked.be.