MINZ MANAGEMENT: 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.
MINZ MANAGEMENT
Largest movements
- Receivables within one year -€2,036
no longer reported in 2025 (was €2,036)
of which Trade receivables: -€2,031
- Cash +€1,752
up €1,752 (+841%), from €208 to €1,960
mainly Receivables within one year (+€2,036) and Net result for the year (+€1,016)
- Other debts -€2,030
down €2,030 (-1.6%), from €124,001 to €121,971
- Profit (loss) carried forward +€1,016
up €1,016 (+1.0%), from -€101,325 to -€100,309
- Tax, wage and social debts +€730
new in 2025: €730
- Financial charges -€128,627
down €128,627 (-92.3%), from €139,323 to €10,696
of which Non-recurring financial charges: -€139,000
- Write-downs -€19,334
no longer reported in 2025 (was €19,334)
- Gross operating margin +€9,044
up €9,044 (+339%), from €2,668 to €11,712
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 | €67,246 | €66,961 | -€285 | -0.4% |
| Fixed assets | 21/28 | €65,001 | €65,001 | = | 0.0% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Financial fixed assets | 28 | €65,000 | €65,000 | = | 0.0% |
| Current assets | 29/58 | €2,245 | €1,960 | -€285 | -12.7% |
| Amounts receivable within one year | 40/41 | €2,036 | - | -€2,036 | |
| Trade receivables | 40 | €2,031 | - | -€2,031 | |
| Other amounts receivable | 41 | €6 | - | -€6 | |
| Cash at bank and in hand | 54/58 | €208 | €1,960 | +€1,752 | +841% |
| Total equity and liabilities | 10/49 | €67,246 | €66,961 | -€285 | -0.4% |
| Equity | 10/15 | -€56,865 | -€55,849 | +€1,016 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,860 | €25,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,000 | €24,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,325 | -€100,309 | +€1,016 | +1.0% |
| Amounts payable | 17/49 | €124,111 | €122,810 | -€1,301 | -1.0% |
| Amounts payable within one year | 42/48 | €124,111 | €122,810 | -€1,301 | -1.0% |
| Trade debts | 44 | €109 | €109 | -€0 | -0.1% |
| Suppliers | 440/4 | €109 | €109 | -€0 | -0.1% |
| Taxes, remuneration and social security | 45 | - | €730 | +€730 | |
| Taxes | 450/3 | - | €730 | +€730 | |
| Other amounts payable | 47/48 | €124,001 | €121,971 | -€2,030 | -1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,334 | - | -€19,334 | |
| Gross operating margin | 9900 | €2,668 | €11,712 | +€9,044 | +339% |
| Operating profit (loss) | 9901 | -€16,666 | €11,712 | +€28,378 | |
| Financial charges | 65/66B | €139,323 | €10,696 | -€128,627 | -92.3% |
| Recurring financial charges | 65 | €323 | €10,696 | +€10,373 | +3,211% |
| Non-recurring financial charges | 66B | €139,000 | - | -€139,000 | |
| Profit (loss) for the period before taxes | 9903 | -€155,989 | €1,016 | +€157,005 | |
| Profit (loss) for the period | 9904 | -€155,989 | €1,016 | +€157,005 | |
| Profit (loss) for the period to be appropriated | 9905 | -€155,989 | €1,016 | +€157,005 |
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 24 October 2026 via checked.be.