RE-VIVE MINERVA DEVELOPMENT: 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.
RE-VIVE MINERVA DEVELOPMENT
Largest movements
- Stocks and contracts -€4.2m
down €4.2m (-66.9%), from €6.2m to €2.1m
of which Contracts in progress: -€2.4m
- Cash -€1.8m
down €1.8m (-74.7%), from €2.3m to €593,482
mainly Net result for the year (-€2.3m) and Other debts (-€2.2m)
- Deferred charges and accrued income -€488,907
down €488,907 (-96.9%), from €504,402 to €15,496
- Profit (loss) carried forward -€2.3m
down €2.3m, from €252,930 to -€2.1m
- Other debts -€2.2m
down €2.2m (-100%), from €2.2m to €0
- Trade debts -€1.5m
down €1.5m (-73.4%), from €2.1m to €558,145
- Debts after one year -€1.4m
down €1.4m (-100%), from €1.4m to €0
- Accrued charges and deferred income +€951,562
up €951,562 (+23.8%), from €4.0m to €5.0m
- Turnover -€8.2m
down €8.2m (-58.9%), from €13.9m to €5.7m
- Goods and materials -€1.1m
down €1.1m, from €1.1m to -€14,827
of which Purchases: -€20.0m
- Other operating income +€595,937
up €595,937 (+4,440%), from €13,422 to €609,358
- Taxes -€172,631
down €172,631 (-99.8%), from €173,000 to €369
of which Taxes: -€172,631
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 | €10,161,348 | €3,720,426 | -€6.4m | -63.4% |
| Fixed assets | 21/28 | €10,360 | €10,360 | = | 0.0% |
| Financial fixed assets | 28 | €10,360 | €10,360 | = | 0.0% |
| Other financial fixed assets | 284/8 | €10,360 | €10,360 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €10,360 | €10,360 | = | 0.0% |
| Current assets | 29/58 | €10,150,988 | €3,710,066 | -€6.4m | -63.5% |
| Stocks and contracts in progress | 3 | €6,247,610 | €2,068,383 | -€4.2m | -66.9% |
| Stocks | 30/36 | €3,827,762 | €2,068,383 | -€1.8m | -46.0% |
| Property held for sale | 35 | €3,827,762 | €2,068,383 | -€1.8m | -46.0% |
| Contracts in progress | 37 | €2,419,847 | €0 | -€2.4m | -100% |
| Amounts receivable within one year | 40/41 | €1,054,997 | €1,032,705 | -€22,292 | -2.1% |
| Trade receivables | 40 | €487,091 | €215,400 | -€271,691 | -55.8% |
| Other amounts receivable | 41 | €567,907 | €817,305 | +€249,399 | +43.9% |
| Cash at bank and in hand | 54/58 | €2,343,979 | €593,482 | -€1.8m | -74.7% |
| Deferred charges and accrued income | 490/1 | €504,402 | €15,496 | -€488,907 | -96.9% |
| Total equity and liabilities | 10/49 | €10,161,348 | €3,720,426 | -€6.4m | -63.4% |
| Equity | 10/15 | €314,130 | -€2,025,303 | -€2.3m | |
| Contributions | 10/11 | €61,200 | €61,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €252,930 | -€2,086,503 | -€2.3m | |
| Amounts payable | 17/49 | €9,847,218 | €5,745,729 | -€4.1m | -41.7% |
| Amounts payable after more than one year | 17 | €1,368,497 | €0 | -€1.4m | -100% |
| Financial debts | 170/4 | €1,368,497 | €0 | -€1.4m | -100% |
| Subordinated loans | 170 | €1,368,497 | €0 | -€1.4m | -100% |
| Amounts payable within one year | 42/48 | €4,474,983 | €790,428 | -€3.7m | -82.3% |
| Financial debts | 43 | - | €232,283 | +€232,283 | |
| Credit institutions | 430/8 | - | €232,283 | +€232,283 | |
| Trade debts | 44 | €2,100,743 | €558,145 | -€1.5m | -73.4% |
| Suppliers | 440/4 | €2,100,743 | €558,145 | -€1.5m | -73.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €186,531 | €0 | -€186,531 | -100% |
| Taxes | 450/3 | €186,531 | €0 | -€186,531 | -100% |
| Other amounts payable | 47/48 | €2,187,709 | €0 | -€2.2m | -100% |
| Accrued charges and deferred income | 492/3 | €4,003,739 | €4,955,301 | +€951,562 | +23.8% |
| Operating income | 70/76A | €2,321,164 | -€2,110,863 | -€4.4m | |
| Turnover | 70 | €13,924,518 | €5,723,803 | -€8.2m | -58.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€11,616,776 | -€8,444,024 | +€3.2m | +27.3% |
| Other operating income | 74 | €13,422 | €609,358 | +€595,937 | +4,440% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €1,221,995 | €180,911 | -€1.0m | -85.2% |
| Goods for resale, raw materials and consumables | 60 | €1,056,546 | -€14,827 | -€1.1m | |
| Purchases | 600/8 | €24,269,592 | €4,249,971 | -€20.0m | -82.5% |
| Change in stocks: decrease (increase) | 609 | -€23,213,046 | -€4,264,798 | +€18.9m | +81.6% |
| Services and other goods | 61 | €164,218 | €194,398 | +€30,180 | +18.4% |
| Other operating charges | 640/8 | €1,231 | €1,340 | +€109 | +8.9% |
| Operating profit (loss) | 9901 | €1,099,169 | -€2,291,774 | -€3.4m | |
| Financial income | 75/76B | €11 | €1,019 | +€1,009 | +9,418% |
| Recurring financial income | 75 | €11 | €1,019 | +€1,009 | +9,418% |
| Income from current assets | 751 | - | €919 | +€919 | |
| Other financial income | 752/9 | €11 | €100 | +€89 | +834% |
| Financial charges | 65/66B | €102,493 | €48,309 | -€54,184 | -52.9% |
| Recurring financial charges | 65 | €102,493 | €48,309 | -€54,184 | -52.9% |
| Debt charges | 650 | €62,601 | €21,455 | -€41,146 | -65.7% |
| Other financial charges | 652/9 | €39,892 | €26,854 | -€13,038 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €996,687 | -€2,339,063 | -€3.3m | |
| Income taxes | 67/77 | €173,000 | €369 | -€172,631 | -99.8% |
| Taxes | 670/3 | €173,000 | €369 | -€172,631 | -99.8% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €823,687 | -€2,339,433 | -€3.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €823,687 | -€2,339,433 | -€3.2m |
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 17 October 2026 via checked.be.