MINOTAURUS: what changed
Two fiscal 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.
What changed
MINOTAURUS
NACE 55.100, Hotels and similar accommodation
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€506,384
2023 · -€1.1m+€555,837
Equity
-€16.7m
2023 · -€16.2m-€506,384
Cash
€2.2m
2023 · €1.3m+€889,629
Balance sheet total
€30.1m
2023 · €30.4m-€286,940
Largest movements
Assets
- Cash +€889,629
up €889,629 (+69.0%), from €1.3m to €2.2m
mainly Depreciation (+€1.2m) and Receivables within one year (+€314,777)
- Tangible fixed assets -€833,437
down €833,437 (-3.0%), from €27.6m to €26.8m
of which Leasing and similar rights: -€999,526
- Receivables within one year -€314,777
down €314,777 (-22.6%), from €1.4m to €1.1m
of which Other amounts receivable: -€403,145
Equity and liabilities
- Profit (loss) carried forward -€506,384
down €506,384 (-2.6%), from -€19.7m to -€20.2m
Income statement
- Turnover +€2.0m
up €2.0m (+19.8%), from €10.3m to €12.3m
- Services and other goods +€797,711
up €797,711 (+16.1%), from €4.9m to €5.7m
- Financial charges +€313,466
up €313,466 (+29.6%), from €1.1m to €1.4m
- Other operating income -€192,817
down €192,817 (-38.4%), from €502,298 to €309,481
- Depreciation -€169,589
down €169,589 (-12.4%), from €1.4m to €1.2m
From the 2023 result to the 2024 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.
Result 2023
-€1.1m
Turnover
+€2.0m
Other operating income
-€192,817
Goods and materials
-€90,183
Services and other goods
-€797,711
Staff costs
-€168,401
Depreciation
+€169,589
Write-downs
+€5,161
Other operating charges
-€97,422
Financial income
+€12
Financial charges
-€313,466
Taxes
-€267
Result 2024
-€506,384
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.1m
Investment
-€362,346
Financing
+€161,529
Cash 2023
€1.3m
From operations (derived)
+€1.1m
Net result for the year
-€506,384
Depreciation
+€1.2m
Stocks and contracts
+€32,550
Receivables within one year
+€314,777
Deferred charges and accrued income
-€4,194
Trade debts
-€88,541
Tax, wage and social debts
+€59,991
Advances received
+€48,792
Other debts
+€12,731
Accrued charges and deferred income
+€24,942
Investment (derived)
-€362,346
Investment in fixed assets (net)
-€362,346
Financing
+€161,529
Debts after one year
+€57,867
Current portion of long-term debt
+€103,662
Cash 2024
€2.2m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,367,082 | €30,080,141 | -€286,940 | -0.9% |
| Fixed assets | 21/28 | €27,589,544 | €26,756,107 | -€833,437 | -3.0% |
| Tangible fixed assets | 22/27 | €27,589,544 | €26,756,107 | -€833,437 | -3.0% |
| Plant, machinery and equipment | 23 | €138,838 | €259,373 | +€120,535 | +86.8% |
| Furniture and vehicles | 24 | €1,477,561 | €1,510,929 | +€33,368 | +2.3% |
| Leasing and similar rights | 25 | €25,611,416 | €24,611,890 | -€999,526 | -3.9% |
| Other tangible fixed assets | 26 | €335,659 | €304,277 | -€31,383 | -9.3% |
| Assets under construction and advance payments | 27 | €26,070 | €69,638 | +€43,568 | +167.1% |
| Current assets | 29/58 | €2,777,538 | €3,324,034 | +€546,497 | +19.7% |
| Stocks and contracts in progress | 3 | €63,857 | €31,307 | -€32,550 | -51.0% |
| Stocks | 30/36 | €63,857 | €31,307 | -€32,550 | -51.0% |
| Raw materials and consumables | 30/31 | €63,857 | €31,307 | -€32,550 | -51.0% |
| Amounts receivable within one year | 40/41 | €1,390,560 | €1,075,783 | -€314,777 | -22.6% |
| Trade receivables | 40 | €796,505 | €884,874 | +€88,369 | +11.1% |
| Other amounts receivable | 41 | €594,055 | €190,910 | -€403,145 | -67.9% |
| Cash at bank and in hand | 54/58 | €1,288,956 | €2,178,585 | +€889,629 | +69.0% |
| Deferred charges and accrued income | 490/1 | €34,165 | €38,360 | +€4,194 | +12.3% |
| Total equity and liabilities | 10/49 | €30,367,082 | €30,080,141 | -€286,940 | -0.9% |
| Equity | 10/15 | -€16,223,077 | -€16,729,461 | -€506,384 | -3.1% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Capital | 10 | €3,500,000 | €3,500,000 | = | 0.0% |
| Issued capital | 100 | €3,500,000 | €3,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,723,077 | -€20,229,461 | -€506,384 | -2.6% |
| Amounts payable | 17/49 | €46,590,158 | €46,809,602 | +€219,444 | +0.5% |
| Amounts payable after more than one year | 17 | €39,642,324 | €39,700,191 | +€57,867 | +0.1% |
| Financial debts | 170/4 | €39,642,324 | €39,700,191 | +€57,867 | +0.1% |
| Leasing and similar obligations | 172 | €19,575,907 | €16,614,434 | -€3.0m | -15.1% |
| Credit institutions | 173 | - | €12,126 | +€12,126 | |
| Other loans | 174 | €20,066,418 | €23,073,631 | +€3.0m | +15.0% |
| Amounts payable within one year | 42/48 | €5,403,212 | €5,539,847 | +€136,635 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €2,845,049 | €2,948,711 | +€103,662 | +3.6% |
| Trade debts | 44 | €2,151,118 | €2,062,577 | -€88,541 | -4.1% |
| Suppliers | 440/4 | €2,151,118 | €2,062,577 | -€88,541 | -4.1% |
| Advances received on contracts in progress | 46 | €90,650 | €139,442 | +€48,792 | +53.8% |
| Taxes, remuneration and social security | 45 | €308,424 | €368,415 | +€59,991 | +19.5% |
| Taxes | 450/3 | €350 | €7,231 | +€6,881 | +1966.0% |
| Remuneration and social security | 454/9 | €308,074 | €361,184 | +€53,110 | +17.2% |
| Other amounts payable | 47/48 | €7,971 | €20,702 | +€12,731 | +159.7% |
| Accrued charges and deferred income | 492/3 | €1,544,622 | €1,569,564 | +€24,942 | +1.6% |
| Operating income | 70/76A | €10,848,022 | €12,696,546 | +€1.8m | +17.0% |
| Turnover | 70 | €10,302,758 | €12,344,098 | +€2.0m | +19.8% |
| Other operating income | 74 | €502,298 | €309,481 | -€192,817 | -38.4% |
| Non-recurring operating income | 76A | €42,967 | €42,967 | = | 0.0% |
| Operating charges | 60/66A | €10,852,359 | €11,831,326 | +€978,966 | +9.0% |
| Goods for resale, raw materials and consumables | 60 | €1,012,100 | €1,102,283 | +€90,183 | +8.9% |
| Purchases | 600/8 | €1,025,743 | €1,069,733 | +€43,990 | +4.3% |
| Change in stocks: decrease (increase) | 609 | -€13,643 | €32,550 | +€46,193 | |
| Services and other goods | 61 | €4,940,356 | €5,738,066 | +€797,711 | +16.1% |
| Remuneration, social security and pensions | 62 | €2,958,949 | €3,127,350 | +€168,401 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,365,373 | €1,195,783 | -€169,589 | -12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,149 | -€1,012 | -€5,161 | |
| Other operating charges | 640/8 | €571,434 | €668,855 | +€97,422 | +17.0% |
| Operating profit (loss) | 9901 | -€4,337 | €865,220 | +€869,557 | |
| Financial income | 75/76B | €21 | €33 | +€12 | +59.9% |
| Recurring financial income | 75 | €21 | €33 | +€12 | +59.9% |
| Income from financial fixed assets | 750 | - | €33 | +€33 | |
| Other financial income | 752/9 | €21 | - | -€21 | |
| Financial charges | 65/66B | €1,057,969 | €1,371,435 | +€313,466 | +29.6% |
| Recurring financial charges | 65 | €1,057,969 | €1,371,435 | +€313,466 | +29.6% |
| Debt charges | 650 | €1,053,054 | €1,371,435 | +€318,381 | +30.2% |
| Other financial charges | 652/9 | €4,916 | - | -€4,916 | |
| Profit (loss) for the period before taxes | 9903 | -€1,062,286 | -€506,181 | +€556,104 | +52.3% |
| Income taxes | 67/77 | -€64 | €203 | +€267 | |
| Taxes | 670/3 | €350 | €203 | -€147 | -42.0% |
| Tax adjustments and reversals of tax provisions | 77 | €414 | - | -€414 | |
| Profit (loss) for the period | 9904 | -€1,062,221 | -€506,384 | +€555,837 | +52.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,062,221 | -€506,384 | +€555,837 | +52.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.