MINX: 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.
MINX
Largest movements
- Receivables within one year -€67,215
down €67,215 (-57.0%), from €117,939 to €50,724
of which Trade receivables: -€67,564
- Cash -€49,479
down €49,479 (-43.0%), from €114,936 to €65,457
mainly Contributions, distributions and other (-€138,273) and Net result for the year (-€41,814)
- Tangible fixed assets -€27,203
down €27,203 (-7.3%), from €373,482 to €346,279
of which Land and buildings: -€21,036
- Financial fixed assets -€14,865
no longer reported in 2025 (was €14,865)
- Reserves -€180,087
down €180,087 (-47.3%), from €380,949 to €200,862
of which Distributable reserves: -€180,087
- Other debts +€58,706
up €58,706 (+155.1%), from €37,844 to €96,549
- Tax, wage and social debts -€17,905
down €17,905 (-99.2%), from €18,050 to €145
- Debts after one year -€16,787
down €16,787 (-53.6%), from €31,295 to €14,508
- Gross operating margin -€107,318
down €107,318, from €105,746 to -€1,572
- Taxes -€21,141
down €21,141 (-99.3%), from €21,289 to €148
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 | €622,539 | €464,969 | -€157,570 | -25.3% |
| Fixed assets | 21/28 | €388,347 | €346,279 | -€42,068 | -10.8% |
| Tangible fixed assets | 22/27 | €373,482 | €346,279 | -€27,203 | -7.3% |
| Land and buildings | 22 | €352,732 | €331,696 | -€21,036 | -6.0% |
| Plant, machinery and equipment | 23 | €3,021 | €3,505 | +€484 | +16.0% |
| Furniture and vehicles | 24 | €17,730 | €11,078 | -€6,652 | -37.5% |
| Financial fixed assets | 28 | €14,865 | - | -€14,865 | |
| Current assets | 29/58 | €234,192 | €118,690 | -€115,502 | -49.3% |
| Amounts receivable within one year | 40/41 | €117,939 | €50,724 | -€67,215 | -57.0% |
| Trade receivables | 40 | €67,564 | - | -€67,564 | |
| Other amounts receivable | 41 | €50,375 | €50,724 | +€349 | +0.7% |
| Current investments | 50/53 | - | €1,084 | +€1,084 | |
| Cash at bank and in hand | 54/58 | €114,936 | €65,457 | -€49,479 | -43.0% |
| Deferred charges and accrued income | 490/1 | €1,317 | €1,425 | +€108 | +8.2% |
| Total equity and liabilities | 10/49 | €622,539 | €464,969 | -€157,570 | -25.3% |
| Equity | 10/15 | €517,041 | €336,954 | -€180,087 | -34.8% |
| Contributions | 10/11 | €136,092 | €136,092 | = | 0.0% |
| Reserves | 13 | €380,949 | €200,862 | -€180,087 | -47.3% |
| Non-distributable reserves | 130/1 | €13,609 | €13,609 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,609 | €13,609 | = | 0.0% |
| Distributable reserves | 133 | €367,340 | €187,253 | -€180,087 | -49.0% |
| Amounts payable | 17/49 | €105,499 | €128,015 | +€22,516 | +21.3% |
| Amounts payable after more than one year | 17 | €31,295 | €14,508 | -€16,787 | -53.6% |
| Financial debts | 170/4 | €31,295 | €14,508 | -€16,787 | -53.6% |
| Amounts payable within one year | 42/48 | €74,203 | €113,507 | +€39,303 | +53.0% |
| Current portion of amounts payable after more than one year | 42 | €16,133 | €16,787 | +€654 | +4.1% |
| Financial debts | 43 | - | €25 | +€25 | |
| Credit institutions | 430/8 | - | €25 | +€25 | |
| Trade debts | 44 | €2,177 | - | -€2,177 | |
| Suppliers | 440/4 | €2,177 | - | -€2,177 | |
| Taxes, remuneration and social security | 45 | €18,050 | €145 | -€17,905 | -99.2% |
| Taxes | 450/3 | €18,050 | €145 | -€17,905 | -99.2% |
| Other amounts payable | 47/48 | €37,844 | €96,549 | +€58,706 | +155.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,528 | €34,827 | +€300 | +0.9% |
| Other operating charges | 640/8 | €1,893 | €1,974 | +€80 | +4.2% |
| Gross operating margin | 9900 | €105,746 | -€1,572 | -€107,318 | |
| Operating profit (loss) | 9901 | €69,325 | -€38,373 | -€107,698 | |
| Financial income | 75/76B | €754 | €11 | -€743 | -98.6% |
| Recurring financial income | 75 | €754 | €11 | -€743 | -98.6% |
| Financial charges | 65/66B | €4,014 | €3,304 | -€710 | -17.7% |
| Recurring financial charges | 65 | €4,014 | €3,304 | -€710 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €66,065 | -€41,666 | -€107,731 | |
| Income taxes | 67/77 | €21,289 | €148 | -€21,141 | -99.3% |
| Profit (loss) for the period | 9904 | €44,776 | -€41,814 | -€86,589 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,776 | -€41,814 | -€86,589 |
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 10 October 2026 via checked.be.