THE MIND: what changed
Two fiscal 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.
THE MIND
Largest movements
- Cash +€36,024
up €36,024 (+22.2%), from €162,511 to €198,535
mainly Net result for the year (+€159,324) and Tax, wage and social debts (+€41,529)
- Stocks and contracts +€13,643
new in 2025: €13,643
- Receivables within one year +€4,963
up €4,963 (+4.9%), from €100,563 to €105,527
- Profit (loss) carried forward +€59,324
up €59,324 (+85.4%), from €69,485 to €128,809
- Trade debts -€52,614
down €52,614 (-43.0%), from €122,455 to €69,841
- Tax, wage and social debts +€41,529
up €41,529 (+98.3%), from €42,255 to €83,785
of which Taxes: +€44,721
- Current portion of long-term debt +€21,728
up €21,728 (+305.1%), from €7,122 to €28,851
- Debts after one year -€7,378
no longer reported in 2025 (was €7,378)
- Gross operating margin +€135,639
up €135,639 (+126.8%), from €106,993 to €242,631
- Taxes +€31,799
up €31,799 (+161.4%), from €19,707 to €51,506
- Staff costs +€14,682
up €14,682 (+447.7%), from €3,279 to €17,961
- Depreciation +€8,207
up €8,207 (+751.8%), from €1,092 to €9,299
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.
Cash bridge derived
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 | €308,696 | €366,786 | +€58,090 | +18.8% |
| Fixed assets | 21/28 | €41,891 | €45,384 | +€3,494 | +8.3% |
| Tangible fixed assets | 22/27 | €16,891 | €20,384 | +€3,494 | +20.7% |
| Furniture and vehicles | 24 | €16,891 | €20,384 | +€3,494 | +20.7% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €266,805 | €321,401 | +€54,596 | +20.5% |
| Stocks and contracts in progress | 3 | - | €13,643 | +€13,643 | |
| Stocks | 30/36 | - | €13,643 | +€13,643 | |
| Amounts receivable within one year | 40/41 | €100,563 | €105,527 | +€4,963 | +4.9% |
| Trade receivables | 40 | €100,563 | €105,527 | +€4,963 | +4.9% |
| Cash at bank and in hand | 54/58 | €162,511 | €198,535 | +€36,024 | +22.2% |
| Deferred charges and accrued income | 490/1 | €3,730 | €3,696 | -€34 | -0.9% |
| Total equity and liabilities | 10/49 | €308,696 | €366,786 | +€58,090 | +18.8% |
| Equity | 10/15 | €79,485 | €138,809 | +€59,324 | +74.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,485 | €128,809 | +€59,324 | +85.4% |
| Amounts payable | 17/49 | €229,211 | €227,976 | -€1,234 | -0.5% |
| Amounts payable after more than one year | 17 | €7,378 | - | -€7,378 | |
| Financial debts | 170/4 | €7,378 | - | -€7,378 | |
| Amounts payable within one year | 42/48 | €221,833 | €227,976 | +€6,144 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €7,122 | €28,851 | +€21,728 | +305.1% |
| Trade debts | 44 | €122,455 | €69,841 | -€52,614 | -43.0% |
| Suppliers | 440/4 | €122,455 | €69,841 | -€52,614 | -43.0% |
| Taxes, remuneration and social security | 45 | €42,255 | €83,785 | +€41,529 | +98.3% |
| Taxes | 450/3 | €39,064 | €83,785 | +€44,721 | +114.5% |
| Remuneration and social security | 454/9 | €3,192 | - | -€3,192 | |
| Other amounts payable | 47/48 | €50,000 | €45,500 | -€4,500 | -9.0% |
| Remuneration, social security and pensions | 62 | €3,279 | €17,961 | +€14,682 | +447.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,092 | €9,299 | +€8,207 | +751.8% |
| Other operating charges | 640/8 | €55 | €314 | +€259 | +474.3% |
| Gross operating margin | 9900 | €106,993 | €242,631 | +€135,639 | +126.8% |
| Operating profit (loss) | 9901 | €102,567 | €215,058 | +€112,491 | +109.7% |
| Financial income | 75/76B | €55 | €256 | +€201 | +365.0% |
| Recurring financial income | 75 | €55 | €256 | +€201 | +365.0% |
| Financial charges | 65/66B | €2,962 | €4,484 | +€1,522 | +51.4% |
| Recurring financial charges | 65 | €2,962 | €1,705 | -€1,257 | -42.4% |
| Non-recurring financial charges | 66B | - | €2,779 | +€2,779 | |
| Profit (loss) for the period before taxes | 9903 | €99,660 | €210,830 | +€111,170 | +111.5% |
| Income taxes | 67/77 | €19,707 | €51,506 | +€31,799 | +161.4% |
| Profit (loss) for the period | 9904 | €79,953 | €159,324 | +€79,371 | +99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,953 | €159,324 | +€79,371 | +99.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.