MinZ: 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.
MinZ
Largest movements
- Tangible fixed assets -€14,179
down €14,179 (-4.1%), from €348,442 to €334,263
of which Assets under construction and advance payments: -€126,927
- Receivables within one year +€4,987
up €4,987 (+33.8%), from €14,748 to €19,735
of which Trade receivables: +€7,253
- Profit (loss) carried forward -€7,386
down €7,386 (-24.4%), from -€30,272 to -€37,659
- Gross operating margin +€9,016
up €9,016, from -€470 to €8,547
- Depreciation +€3,846
up €3,846 (+37.2%), from €10,333 to €14,179
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 | €369,734 | €358,554 | -€11,180 | -3.0% |
| Fixed assets | 21/28 | €348,442 | €334,263 | -€14,179 | -4.1% |
| Tangible fixed assets | 22/27 | €348,442 | €334,263 | -€14,179 | -4.1% |
| Land and buildings | 22 | €221,255 | €334,209 | +€112,954 | +51.1% |
| Furniture and vehicles | 24 | €260 | €55 | -€206 | -79.0% |
| Assets under construction and advance payments | 27 | €126,927 | €0 | -€126,927 | -100.0% |
| Current assets | 29/58 | €21,292 | €24,291 | +€2,999 | +14.1% |
| Amounts receivable within one year | 40/41 | €14,748 | €19,735 | +€4,987 | +33.8% |
| Trade receivables | 40 | €12,483 | €19,735 | +€7,253 | +58.1% |
| Other amounts receivable | 41 | €2,265 | €0 | -€2,265 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,134 | €3,634 | -€2,501 | -40.8% |
| Deferred charges and accrued income | 490/1 | €410 | €922 | +€512 | +124.8% |
| Total equity and liabilities | 10/49 | €369,734 | €358,554 | -€11,180 | -3.0% |
| Equity | 10/15 | -€272 | -€7,659 | -€7,386 | -2712.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,272 | -€37,659 | -€7,386 | -24.4% |
| Amounts payable | 17/49 | €370,007 | €366,213 | -€3,794 | -1.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €369,991 | €364,578 | -€5,413 | -1.5% |
| Trade debts | 44 | €3,768 | €543 | -€3,225 | -85.6% |
| Suppliers | 440/4 | €3,768 | €543 | -€3,225 | -85.6% |
| Taxes, remuneration and social security | 45 | €0 | €956 | +€956 | |
| Taxes | 450/3 | €0 | €956 | +€956 | |
| Other amounts payable | 47/48 | €366,224 | €363,079 | -€3,144 | -0.9% |
| Accrued charges and deferred income | 492/3 | €15 | €1,634 | +€1,619 | +10513.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,333 | €14,179 | +€3,846 | +37.2% |
| Other operating charges | 640/8 | €1,500 | €1,545 | +€46 | +3.0% |
| Gross operating margin | 9900 | -€470 | €8,547 | +€9,016 | |
| Operating profit (loss) | 9901 | -€12,302 | -€7,178 | +€5,125 | +41.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €191 | €209 | +€17 | +9.1% |
| Recurring financial charges | 65 | €191 | €209 | +€17 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,494 | -€7,386 | +€5,107 | +40.9% |
| Profit (loss) for the period | 9904 | -€12,494 | -€7,386 | +€5,107 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,494 | -€7,386 | +€5,107 | +40.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.