MINTHEN: 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.
MINTHEN
Largest movements
- Tangible fixed assets -€30,699
down €30,699 (-8.2%), from €376,081 to €345,381
of which Land and buildings: -€16,116
- Cash -€16,682
down €16,682 (-34.3%), from €48,573 to €31,891
mainly Other debts (-€95,307) and Debts after one year (-€9,798)
- Receivables after one year -€15,000
down €15,000 (-100.0%), from €15,000 to €0
- Other debts -€95,307
down €95,307 (-21.9%), from €434,976 to €339,669
- Profit (loss) carried forward +€28,639
up €28,639 (+15.2%), from €188,511 to €217,150
- Debts after one year -€9,798
down €9,798 (-3.9%), from €248,202 to €238,403
- Gross operating margin +€34,737
up €34,737 (+129.9%), from €26,732 to €61,469
- Depreciation -€16,635
down €16,635 (-50.7%), from €32,841 to €16,206
- Financial charges +€14,502
up €14,502 (+115.6%), from €12,544 to €27,046
of which Non-recurring financial charges: +€15,000
- Financial income +€12,928
up €12,928, from €0 to €12,928
- Other operating charges -€2,901
down €2,901 (-56.4%), from €5,145 to €2,244
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.
Cash bridge derived
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 | €902,432 | €832,913 | -€69,519 | -7.7% |
| Fixed assets | 21/28 | €589,581 | €558,881 | -€30,699 | -5.2% |
| Tangible fixed assets | 22/27 | €376,081 | €345,381 | -€30,699 | -8.2% |
| Land and buildings | 22 | €359,689 | €343,573 | -€16,116 | -4.5% |
| Furniture and vehicles | 24 | €16,391 | €1,808 | -€14,583 | -89.0% |
| Financial fixed assets | 28 | €213,500 | €213,500 | = | 0.0% |
| Current assets | 29/58 | €312,851 | €274,031 | -€38,820 | -12.4% |
| Amounts receivable after more than one year | 29 | €15,000 | €0 | -€15,000 | -100.0% |
| Other amounts receivable | 291 | €15,000 | €0 | -€15,000 | -100.0% |
| Stocks and contracts in progress | 3 | €112,130 | €112,130 | = | 0.0% |
| Stocks | 30/36 | €112,130 | €112,130 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €134,878 | €130,011 | -€4,868 | -3.6% |
| Trade receivables | 40 | €0 | €3,930 | +€3,930 | |
| Other amounts receivable | 41 | €134,878 | €126,081 | -€8,798 | -6.5% |
| Cash at bank and in hand | 54/58 | €48,573 | €31,891 | -€16,682 | -34.3% |
| Deferred charges and accrued income | 490/1 | €2,271 | €0 | -€2,271 | -100.0% |
| Total equity and liabilities | 10/49 | €902,432 | €832,913 | -€69,519 | -7.7% |
| Equity | 10/15 | €208,511 | €237,150 | +€28,639 | +13.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €188,511 | €217,150 | +€28,639 | +15.2% |
| Amounts payable | 17/49 | €693,921 | €595,763 | -€98,158 | -14.1% |
| Amounts payable after more than one year | 17 | €248,202 | €238,403 | -€9,798 | -3.9% |
| Financial debts | 170/4 | €248,202 | €238,403 | -€9,798 | -3.9% |
| Amounts payable within one year | 42/48 | €445,719 | €357,359 | -€88,360 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €10,112 | €10,594 | +€482 | +4.8% |
| Trade debts | 44 | €346 | €5,059 | +€4,713 | +1360.2% |
| Suppliers | 440/4 | €346 | €5,059 | +€4,713 | +1360.2% |
| Taxes, remuneration and social security | 45 | €285 | €2,037 | +€1,752 | +614.6% |
| Taxes | 450/3 | €285 | €2,037 | +€1,752 | +614.6% |
| Other amounts payable | 47/48 | €434,976 | €339,669 | -€95,307 | -21.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,841 | €16,206 | -€16,635 | -50.7% |
| Other operating charges | 640/8 | €5,145 | €2,244 | -€2,901 | -56.4% |
| Gross operating margin | 9900 | €26,732 | €61,469 | +€34,737 | +129.9% |
| Operating profit (loss) | 9901 | -€11,254 | €43,019 | +€54,273 | |
| Financial income | 75/76B | €0 | €12,928 | +€12,928 | |
| Recurring financial income | 75 | €0 | €12,928 | +€12,928 | |
| Financial charges | 65/66B | €12,544 | €27,046 | +€14,502 | +115.6% |
| Recurring financial charges | 65 | €12,544 | €12,046 | -€498 | -4.0% |
| Non-recurring financial charges | 66B | - | €15,000 | +€15,000 | |
| Profit (loss) for the period before taxes | 9903 | -€23,799 | €28,901 | +€52,700 | |
| Income taxes | 67/77 | €285 | €263 | -€22 | -7.9% |
| Profit (loss) for the period | 9904 | -€24,084 | €28,639 | +€52,722 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,084 | €28,639 | +€52,722 |
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 11 October 2026 via checked.be.