Minze: 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.
Minze
Largest movements
- Cash -€1.2m
down €1.2m (-78.0%), from €1.6m to €340,670
mainly Net result for the year (-€2.0m) and Investment in fixed assets (net) (-€1.2m)
- Current investments +€801,281
up €801,281 (+322%), from €248,996 to €1.1m
- Intangible fixed assets +€790,495
up €790,495 (+30.4%), from €2.6m to €3.4m
- Stocks and contracts +€168,681
up €168,681 (+54.2%), from €311,245 to €479,926
- Receivables within one year +€146,194
up €146,194 (+35.1%), from €416,152 to €562,345
of which Other amounts receivable: +€282,067
- Contributions +€2.4m
up €2.4m (+36.0%), from €6.7m to €9.1m
of which Contributions outside capital: +€2.0m
- Profit (loss) carried forward -€2.0m
down €2.0m (-88.0%), from -€2.2m to -€4.2m
- Investment grants +€307,550
new in 2025: €307,550
- Debts after one year -€175,628
down €175,628 (-62.7%), from €279,908 to €104,280
- Trade debts +€159,637
up €159,637 (+85.1%), from €187,625 to €347,262
- Gross operating margin -€646,597
down €646,597, from €449,905 to -€196,692
- Staff costs +€209,257
up €209,257 (+18.1%), from €1.2m to €1.4m
- Depreciation +€96,551
up €96,551 (+27.1%), from €356,767 to €453,318
- Financial income +€25,788
up €25,788 (+231%), from €11,176 to €36,964
- Financial charges +€7,683
up €7,683 (+34.3%), from €22,420 to €30,103
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 | €5,285,789 | €5,974,130 | +€688,340 | +13.0% |
| Fixed assets | 21/28 | €2,614,961 | €3,400,627 | +€785,666 | +30.0% |
| Intangible fixed assets | 21 | €2,596,748 | €3,387,243 | +€790,495 | +30.4% |
| Tangible fixed assets | 22/27 | €13,155 | €8,327 | -€4,828 | -36.7% |
| Furniture and vehicles | 24 | €13,155 | €8,327 | -€4,828 | -36.7% |
| Financial fixed assets | 28 | €5,058 | €5,058 | +€0 | 0.0% |
| Current assets | 29/58 | €2,670,829 | €2,573,503 | -€97,326 | -3.6% |
| Amounts receivable after more than one year | 29 | €112,585 | €131,765 | +€19,180 | +17.0% |
| Other amounts receivable | 291 | €112,585 | €131,765 | +€19,180 | +17.0% |
| Stocks and contracts in progress | 3 | €311,245 | €479,926 | +€168,681 | +54.2% |
| Stocks | 30/36 | €311,245 | €479,926 | +€168,681 | +54.2% |
| Amounts receivable within one year | 40/41 | €416,152 | €562,345 | +€146,194 | +35.1% |
| Trade receivables | 40 | €339,307 | €203,434 | -€135,873 | -40.0% |
| Other amounts receivable | 41 | €76,845 | €358,911 | +€282,067 | +367% |
| Current investments | 50/53 | €248,996 | €1,050,277 | +€801,281 | +322% |
| Cash at bank and in hand | 54/58 | €1,550,663 | €340,670 | -€1.2m | -78.0% |
| Deferred charges and accrued income | 490/1 | €31,187 | €8,519 | -€22,668 | -72.7% |
| Total equity and liabilities | 10/49 | €5,285,789 | €5,974,130 | +€688,340 | +13.0% |
| Equity | 10/15 | €4,424,220 | €5,153,864 | +€729,644 | +16.5% |
| Contributions | 10/11 | €6,671,131 | €9,071,128 | +€2.4m | +36.0% |
| Capital | 10 | €1,369,396 | €1,721,120 | +€351,724 | +25.7% |
| Issued capital | 100 | €1,369,396 | €1,721,120 | +€351,724 | +25.7% |
| Contributions outside capital | 11 | €5,301,735 | €7,350,008 | +€2.0m | +38.6% |
| Share premium | 1100/10 | €5,301,735 | €7,350,008 | +€2.0m | +38.6% |
| Profit (loss) carried forward | 14 | -€2,246,911 | -€4,224,814 | -€2.0m | -88.0% |
| Investment grants | 15 | - | €307,550 | +€307,550 | |
| Provisions and deferred taxes | 16 | €2,946 | €5,284 | +€2,338 | +79.4% |
| Provisions for liabilities and charges | 160/5 | €2,946 | €5,284 | +€2,338 | +79.4% |
| Other liabilities and charges | 164/5 | €2,946 | €5,284 | +€2,338 | +79.4% |
| Amounts payable | 17/49 | €858,623 | €814,981 | -€43,642 | -5.1% |
| Amounts payable after more than one year | 17 | €279,908 | €104,280 | -€175,628 | -62.7% |
| Financial debts | 170/4 | €279,908 | €104,280 | -€175,628 | -62.7% |
| Amounts payable within one year | 42/48 | €578,715 | €631,023 | +€52,308 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €147,799 | €175,628 | +€27,830 | +18.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €187,625 | €347,262 | +€159,637 | +85.1% |
| Suppliers | 440/4 | €187,625 | €347,262 | +€159,637 | +85.1% |
| Taxes, remuneration and social security | 45 | €243,252 | €108,132 | -€135,120 | -55.5% |
| Taxes | 450/3 | €19,240 | €5,694 | -€13,547 | -70.4% |
| Remuneration and social security | 454/9 | €224,012 | €102,439 | -€121,573 | -54.3% |
| Other amounts payable | 47/48 | €39 | €0 | -€39 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €79,679 | +€79,679 | |
| Remuneration, social security and pensions | 62 | €1,155,217 | €1,364,474 | +€209,257 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €356,767 | €453,318 | +€96,551 | +27.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€46 | €2,338 | +€2,385 | |
| Other operating charges | 640/8 | €9,853 | €12,682 | +€2,828 | +28.7% |
| Non-recurring operating charges | 66A | - | €1,799 | +€1,799 | |
| Gross operating margin | 9900 | €449,905 | -€196,692 | -€646,597 | |
| Operating profit (loss) | 9901 | -€1,071,886 | -€2,031,303 | -€959,418 | -89.5% |
| Financial income | 75/76B | €11,176 | €36,964 | +€25,788 | +231% |
| Recurring financial income | 75 | €11,176 | €36,964 | +€25,788 | +231% |
| Financial charges | 65/66B | €22,420 | €30,103 | +€7,683 | +34.3% |
| Recurring financial charges | 65 | €22,420 | €30,103 | +€7,683 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,083,130 | -€2,024,442 | -€941,312 | -86.9% |
| Income taxes | 67/77 | -€42,674 | -€46,539 | -€3,865 | -9.1% |
| Profit (loss) for the period | 9904 | -€1,040,456 | -€1,977,903 | -€937,448 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,040,456 | -€1,977,903 | -€937,448 | -90.1% |
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 14 October 2026 via checked.be.