Storm Minderhout: 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.
Storm Minderhout
Largest movements
- Current investments -€1.1m
down €1.1m (-100%), from €1.1m to €0
- Cash +€350,426
up €350,426 (+401%), from €87,304 to €437,730
mainly Current investments (+€1.1m) and Depreciation (+€273,525)
- Tangible fixed assets -€273,525
down €273,525 (-12.4%), from €2.2m to €1.9m
- Reserves -€678,056
down €678,056 (-87.1%), from €778,089 to €100,033
of which Distributable reserves: -€678,056
- Debts after one year -€305,954
down €305,954 (-12.8%), from €2.4m to €2.1m
- Trade debts -€86,916
down €86,916 (-87.6%), from €99,264 to €12,348
- Gross operating margin -€285,599
down €285,599 (-39.1%), from €729,867 to €444,268
- Taxes -€73,457
down €73,457 (-72.6%), from €101,133 to €27,676
- Financial income -€12,757
down €12,757 (-49.8%), from €25,607 to €12,851
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 | €3,712,840 | €2,672,000 | -€1.0m | -28.0% |
| Fixed assets | 21/28 | €2,210,140 | €1,936,615 | -€273,525 | -12.4% |
| Tangible fixed assets | 22/27 | €2,210,140 | €1,936,615 | -€273,525 | -12.4% |
| Plant, machinery and equipment | 23 | €2,210,140 | €1,936,615 | -€273,525 | -12.4% |
| Current assets | 29/58 | €1,502,700 | €735,385 | -€767,315 | -51.1% |
| Amounts receivable within one year | 40/41 | €241,763 | €258,832 | +€17,069 | +7.1% |
| Trade receivables | 40 | €239,722 | €248,869 | +€9,148 | +3.8% |
| Other amounts receivable | 41 | €2,041 | €9,963 | +€7,921 | +388% |
| Current investments | 50/53 | €1,135,963 | €0 | -€1.1m | -100% |
| Cash at bank and in hand | 54/58 | €87,304 | €437,730 | +€350,426 | +401% |
| Deferred charges and accrued income | 490/1 | €37,670 | €38,823 | +€1,153 | +3.1% |
| Total equity and liabilities | 10/49 | €3,712,840 | €2,672,000 | -€1.0m | -28.0% |
| Equity | 10/15 | €845,298 | €167,242 | -€678,056 | -80.2% |
| Contributions | 10/11 | €67,209 | €67,209 | = | 0.0% |
| Capital | 10 | €67,209 | €67,209 | = | 0.0% |
| Issued capital | 100 | €67,209 | €67,209 | = | 0.0% |
| Reserves | 13 | €778,089 | €100,033 | -€678,056 | -87.1% |
| Non-distributable reserves | 130/1 | €6,721 | €6,721 | = | 0.0% |
| Legal reserve | 130 | €6,721 | €6,721 | = | 0.0% |
| Distributable reserves | 133 | €771,368 | €93,312 | -€678,056 | -87.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,867,542 | €2,504,758 | -€362,784 | -12.7% |
| Amounts payable after more than one year | 17 | €2,389,627 | €2,083,673 | -€305,954 | -12.8% |
| Financial debts | 170/4 | €2,389,627 | €2,083,673 | -€305,954 | -12.8% |
| Amounts payable within one year | 42/48 | €407,749 | €342,329 | -€65,420 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €300,909 | €305,954 | +€5,045 | +1.7% |
| Trade debts | 44 | €99,264 | €12,348 | -€86,916 | -87.6% |
| Suppliers | 440/4 | €99,264 | €12,348 | -€86,916 | -87.6% |
| Taxes, remuneration and social security | 45 | €7,576 | €23,597 | +€16,021 | +211% |
| Taxes | 450/3 | €7,576 | €23,597 | +€16,021 | +211% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €431 | +€431 | |
| Accrued charges and deferred income | 492/3 | €70,166 | €78,756 | +€8,590 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €273,525 | €273,525 | = | 0.0% |
| Other operating charges | 640/8 | €2,586 | €2,734 | +€147 | +5.7% |
| Gross operating margin | 9900 | €729,867 | €444,268 | -€285,599 | -39.1% |
| Operating profit (loss) | 9901 | €453,756 | €168,010 | -€285,747 | -63.0% |
| Financial income | 75/76B | €25,607 | €12,851 | -€12,757 | -49.8% |
| Recurring financial income | 75 | €25,607 | €12,851 | -€12,757 | -49.8% |
| Financial charges | 65/66B | €85,085 | €79,087 | -€5,998 | -7.0% |
| Recurring financial charges | 65 | €85,085 | €79,087 | -€5,998 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €394,279 | €101,773 | -€292,506 | -74.2% |
| Income taxes | 67/77 | €101,133 | €27,676 | -€73,457 | -72.6% |
| Profit (loss) for the period | 9904 | €293,146 | €74,097 | -€219,049 | -74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €293,146 | €74,097 | -€219,049 | -74.7% |
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 21 October 2026 via checked.be.