MNINVEST: 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.
MNINVEST
Largest movements
- Tangible fixed assets +€287,496
up €287,496 (+128%), from €223,823 to €511,319
of which Land and buildings: +€289,407
- Cash +€69,889
up €69,889 (+5,744%), from €1,217 to €71,106
mainly Debts after one year (+€207,391) and Other debts (+€183,433)
- Receivables within one year -€11,257
down €11,257 (-9.5%), from €118,587 to €107,330
of which Other amounts receivable: -€24,215
- Debts after one year +€207,391
up €207,391 (+45.4%), from €456,354 to €663,745
- Other debts +€183,433
up €183,433 (+7,133%), from €2,572 to €186,005
- Profit (loss) carried forward -€86,307
down €86,307 (-180%), from -€47,827 to -€134,135
- Trade debts +€24,727
up €24,727 (+178%), from €13,856 to €38,583
- Current portion of long-term debt +€11,917
up €11,917 (+63.8%), from €18,672 to €30,589
- Gross operating margin -€56,363
down €56,363, from €41,279 to -€15,084
- Other operating charges +€32,274
up €32,274 (+1,985%), from €1,626 to €33,900
- Depreciation +€8,226
up €8,226 (+105%), from €7,821 to €16,047
- Write-downs +€7,954
new in 2025: €7,954
- Financial income -€5,243
down €5,243 (-51.2%), from €10,245 to €5,002
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 | €443,627 | €791,005 | +€347,378 | +78.3% |
| Fixed assets | 21/28 | €223,823 | €512,569 | +€288,746 | +129% |
| Tangible fixed assets | 22/27 | €223,823 | €511,319 | +€287,496 | +128% |
| Land and buildings | 22 | €221,906 | €511,313 | +€289,407 | +130% |
| Furniture and vehicles | 24 | €1,917 | €6 | -€1,912 | -99.7% |
| Financial fixed assets | 28 | - | €1,250 | +€1,250 | |
| Current assets | 29/58 | €219,804 | €278,436 | +€58,632 | +26.7% |
| Amounts receivable within one year | 40/41 | €118,587 | €107,330 | -€11,257 | -9.5% |
| Trade receivables | 40 | €7,379 | €20,337 | +€12,958 | +176% |
| Other amounts receivable | 41 | €111,208 | €86,992 | -€24,215 | -21.8% |
| Cash at bank and in hand | 54/58 | €1,217 | €71,106 | +€69,889 | +5,744% |
| Deferred charges and accrued income | 490/1 | €100,000 | €100,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €443,627 | €791,005 | +€347,378 | +78.3% |
| Equity | 10/15 | -€47,827 | -€134,135 | -€86,307 | -180% |
| Profit (loss) carried forward | 14 | -€47,827 | -€134,135 | -€86,307 | -180% |
| Amounts payable | 17/49 | €491,454 | €925,139 | +€433,686 | +88.2% |
| Amounts payable after more than one year | 17 | €456,354 | €663,745 | +€207,391 | +45.4% |
| Financial debts | 170/4 | €456,354 | €663,745 | +€207,391 | +45.4% |
| Amounts payable within one year | 42/48 | €35,100 | €261,394 | +€226,294 | +645% |
| Current portion of amounts payable after more than one year | 42 | €18,672 | €30,589 | +€11,917 | +63.8% |
| Trade debts | 44 | €13,856 | €38,583 | +€24,727 | +178% |
| Suppliers | 440/4 | €13,856 | €38,583 | +€24,727 | +178% |
| Taxes, remuneration and social security | 45 | - | €6,217 | +€6,217 | |
| Taxes | 450/3 | - | €1,092 | +€1,092 | |
| Remuneration and social security | 454/9 | - | €5,124 | +€5,124 | |
| Other amounts payable | 47/48 | €2,572 | €186,005 | +€183,433 | +7,133% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,821 | €16,047 | +€8,226 | +105% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,954 | +€7,954 | |
| Other operating charges | 640/8 | €1,626 | €33,900 | +€32,274 | +1,985% |
| Non-recurring operating charges | 66A | €24,806 | - | -€24,806 | |
| Gross operating margin | 9900 | €41,279 | -€15,084 | -€56,363 | |
| Operating profit (loss) | 9901 | €7,026 | -€72,986 | -€80,011 | |
| Financial income | 75/76B | €10,245 | €5,002 | -€5,243 | -51.2% |
| Recurring financial income | 75 | €10,245 | €5,002 | -€5,243 | -51.2% |
| Financial charges | 65/66B | €16,491 | €18,324 | +€1,833 | +11.1% |
| Recurring financial charges | 65 | €16,491 | €18,324 | +€1,833 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €780 | -€86,307 | -€87,087 | |
| Profit (loss) for the period | 9904 | €780 | -€86,307 | -€87,087 | |
| Profit (loss) for the period to be appropriated | 9905 | €780 | -€86,307 | -€87,087 |
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 20 October 2026 via checked.be.