MINTHUS: 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.
MINTHUS
Largest movements
- Stocks and contracts +€323,829
new in 2025: €323,829
- Receivables within one year -€79,161
down €79,161 (-65.3%), from €121,215 to €42,053
of which Other amounts receivable: -€80,238
- Cash -€57,145
down €57,145 (-41.8%), from €136,751 to €79,606
mainly Stocks and contracts (-€323,829) and Contributions, distributions and other (-€208,773)
- Tangible fixed assets +€23,686
up €23,686 (+8.7%), from €273,757 to €297,443
of which Land and buildings: +€28,309
- Other debts +€355,765
up €355,765 (+257.9%), from €137,964 to €493,729
- Profit (loss) carried forward -€131,924
down €131,924 (-63.2%), from €208,773 to €76,850
- Current portion of long-term debt +€96,250
new in 2025: €96,250
- Trade debts -€64,238
down €64,238 (-54.6%), from €117,746 to €53,509
- Tax, wage and social debts -€44,165
down €44,165 (-71.4%), from €61,814 to €17,648
of which Taxes: -€49,658
- Staff costs +€18,414
new in 2025: €18,414
- Gross operating margin +€14,230
up €14,230 (+10.3%), from €138,490 to €152,720
- Financial charges -€4,449
down €4,449 (-27.7%), from €16,058 to €11,609
- Depreciation +€3,009
up €3,009 (+13.2%), from €22,881 to €25,890
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 | €533,298 | €743,986 | +€210,688 | +39.5% |
| Formation expenses | 20 | €139 | €60 | -€79 | -57.0% |
| Fixed assets | 21/28 | €273,757 | €297,443 | +€23,686 | +8.7% |
| Tangible fixed assets | 22/27 | €273,757 | €297,443 | +€23,686 | +8.7% |
| Land and buildings | 22 | €235,861 | €264,170 | +€28,309 | +12.0% |
| Furniture and vehicles | 24 | €29,836 | €24,016 | -€5,820 | -19.5% |
| Other tangible fixed assets | 26 | €8,061 | €9,257 | +€1,197 | +14.8% |
| Current assets | 29/58 | €259,402 | €446,483 | +€187,082 | +72.1% |
| Stocks and contracts in progress | 3 | - | €323,829 | +€323,829 | |
| Stocks | 30/36 | - | €323,829 | +€323,829 | |
| Amounts receivable within one year | 40/41 | €121,215 | €42,053 | -€79,161 | -65.3% |
| Trade receivables | 40 | €20,343 | €21,419 | +€1,076 | +5.3% |
| Other amounts receivable | 41 | €100,872 | €20,634 | -€80,238 | -79.5% |
| Cash at bank and in hand | 54/58 | €136,751 | €79,606 | -€57,145 | -41.8% |
| Deferred charges and accrued income | 490/1 | €1,436 | €995 | -€440 | -30.7% |
| Total equity and liabilities | 10/49 | €533,298 | €743,986 | +€210,688 | +39.5% |
| Equity | 10/15 | €214,773 | €82,850 | -€131,924 | -61.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,773 | €76,850 | -€131,924 | -63.2% |
| Amounts payable | 17/49 | €318,524 | €661,136 | +€342,612 | +107.6% |
| Amounts payable within one year | 42/48 | €317,524 | €661,136 | +€343,612 | +108.2% |
| Current portion of amounts payable after more than one year | 42 | - | €96,250 | +€96,250 | |
| Trade debts | 44 | €117,746 | €53,509 | -€64,238 | -54.6% |
| Suppliers | 440/4 | €117,746 | €53,509 | -€64,238 | -54.6% |
| Taxes, remuneration and social security | 45 | €61,814 | €17,648 | -€44,165 | -71.4% |
| Taxes | 450/3 | €61,814 | €12,156 | -€49,658 | -80.3% |
| Remuneration and social security | 454/9 | - | €5,493 | +€5,493 | |
| Other amounts payable | 47/48 | €137,964 | €493,729 | +€355,765 | +257.9% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | - | €18,414 | +€18,414 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,881 | €25,890 | +€3,009 | +13.2% |
| Other operating charges | 640/8 | €2,138 | €2,134 | -€4 | -0.2% |
| Gross operating margin | 9900 | €138,490 | €152,720 | +€14,230 | +10.3% |
| Operating profit (loss) | 9901 | €113,471 | €106,282 | -€7,189 | -6.3% |
| Financial income | 75/76B | €500 | €2,000 | +€1,500 | +300.0% |
| Recurring financial income | 75 | €500 | €2,000 | +€1,500 | +300.0% |
| Financial charges | 65/66B | €16,058 | €11,609 | -€4,449 | -27.7% |
| Recurring financial charges | 65 | €16,058 | €11,609 | -€4,449 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €97,914 | €96,673 | -€1,240 | -1.3% |
| Income taxes | 67/77 | €20,280 | €19,823 | -€456 | -2.2% |
| Profit (loss) for the period | 9904 | €77,634 | €76,850 | -€784 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,634 | €76,850 | -€784 | -1.0% |
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 12 October 2026 via checked.be.