MINTH: 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.
MINTH
Largest movements
- Cash -€209,585
down €209,585 (-92.0%), from €227,739 to €18,155
mainly Contributions, distributions and other (-€250,000) and Receivables within one year (-€163,822)
- Receivables within one year +€163,822
up €163,822 (+34.4%), from €475,866 to €639,687
of which Trade receivables: +€160,028
- Deferred charges and accrued income +€8,288
up €8,288 (+75.5%), from €10,971 to €19,260
- Profit (loss) carried forward -€235,308
down €235,308 (-70.5%), from €333,840 to €98,532
- Other debts +€211,156
up €211,156 (+157%), from €134,268 to €345,425
- Trade debts -€32,762
down €32,762 (-26.2%), from €125,216 to €92,454
- Tax, wage and social debts +€14,779
up €14,779 (+13.3%), from €111,340 to €126,119
of which Taxes: +€21,379
- Accrued charges and deferred income +€12,000
up €12,000, from €0 to €12,000
- Gross operating margin -€101,585
down €101,585 (-23.7%), from €427,927 to €326,341
- Staff costs +€47,716
up €47,716 (+22.2%), from €214,766 to €262,481
- Taxes -€32,265
down €32,265 (-72.7%), from €44,406 to €12,141
- Depreciation +€9,964
up €9,964 (+56.1%), from €17,762 to €27,725
- Write-downs -€5,054
down €5,054 (-100%), from €5,054 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 | €757,725 | €727,546 | -€30,179 | -4.0% |
| Fixed assets | 21/28 | €43,148 | €50,444 | +€7,296 | +16.9% |
| Tangible fixed assets | 22/27 | €39,148 | €46,444 | +€7,296 | +18.6% |
| Plant, machinery and equipment | 23 | €17,034 | €10,615 | -€6,419 | -37.7% |
| Furniture and vehicles | 24 | €15,577 | €30,816 | +€15,239 | +97.8% |
| Other tangible fixed assets | 26 | €6,537 | €5,013 | -€1,524 | -23.3% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €714,577 | €677,102 | -€37,475 | -5.2% |
| Amounts receivable within one year | 40/41 | €475,866 | €639,687 | +€163,822 | +34.4% |
| Trade receivables | 40 | €436,207 | €596,235 | +€160,028 | +36.7% |
| Other amounts receivable | 41 | €39,659 | €43,452 | +€3,794 | +9.6% |
| Cash at bank and in hand | 54/58 | €227,739 | €18,155 | -€209,585 | -92.0% |
| Deferred charges and accrued income | 490/1 | €10,971 | €19,260 | +€8,288 | +75.5% |
| Total equity and liabilities | 10/49 | €757,725 | €727,546 | -€30,179 | -4.0% |
| Equity | 10/15 | €353,019 | €117,711 | -€235,308 | -66.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €579 | €579 | = | 0.0% |
| Non-distributable reserves | 130/1 | €579 | €0 | -€579 | -100% |
| Reserves not available under the articles | 1311 | €579 | €0 | -€579 | -100% |
| Distributable reserves | 133 | - | €579 | +€579 | |
| Profit (loss) carried forward | 14 | €333,840 | €98,532 | -€235,308 | -70.5% |
| Amounts payable | 17/49 | €404,706 | €609,835 | +€205,129 | +50.7% |
| Amounts payable within one year | 42/48 | €404,706 | €597,835 | +€193,129 | +47.7% |
| Current portion of amounts payable after more than one year | 42 | €33,882 | €33,837 | -€45 | -0.1% |
| Trade debts | 44 | €125,216 | €92,454 | -€32,762 | -26.2% |
| Suppliers | 440/4 | €125,216 | €92,454 | -€32,762 | -26.2% |
| Taxes, remuneration and social security | 45 | €111,340 | €126,119 | +€14,779 | +13.3% |
| Taxes | 450/3 | €75,437 | €96,816 | +€21,379 | +28.3% |
| Remuneration and social security | 454/9 | €35,903 | €29,303 | -€6,600 | -18.4% |
| Other amounts payable | 47/48 | €134,268 | €345,425 | +€211,156 | +157% |
| Accrued charges and deferred income | 492/3 | €0 | €12,000 | +€12,000 | |
| Non-recurring operating income | 76A | €2,346 | €1,229 | -€1,117 | -47.6% |
| Remuneration, social security and pensions | 62 | €214,766 | €262,481 | +€47,716 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,762 | €27,725 | +€9,964 | +56.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,054 | €0 | -€5,054 | -100% |
| Other operating charges | 640/8 | €3,769 | €5,252 | +€1,483 | +39.4% |
| Non-recurring operating charges | 66A | €3,854 | €0 | -€3,854 | -100% |
| Gross operating margin | 9900 | €427,927 | €326,341 | -€101,585 | -23.7% |
| Operating profit (loss) | 9901 | €182,723 | €30,883 | -€151,840 | -83.1% |
| Financial income | 75/76B | €419 | €1 | -€418 | -99.8% |
| Recurring financial income | 75 | €419 | €1 | -€418 | -99.8% |
| Financial charges | 65/66B | €4,466 | €4,051 | -€416 | -9.3% |
| Recurring financial charges | 65 | €4,466 | €4,051 | -€416 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €178,675 | €26,833 | -€151,842 | -85.0% |
| Income taxes | 67/77 | €44,406 | €12,141 | -€32,265 | -72.7% |
| Profit (loss) for the period | 9904 | €134,268 | €14,692 | -€119,577 | -89.1% |
| Profit (loss) for the period to be appropriated | 9905 | €134,268 | €14,692 | -€119,577 | -89.1% |
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.