GROEP M.H.: 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.
GROEP M.H.
Largest movements
- Stocks and contracts +€1.3m
new in 2025: €1.3m
- Cash -€92,799
down €92,799 (-93.5%), from €99,240 to €6,442
mainly Stocks and contracts (-€1.3m) and Accrued charges and deferred income (-€49,036)
- Other debts +€1.2m
new in 2025: €1.2m
- Profit (loss) carried forward +€49,775
up €49,775 (+8.2%), from €604,251 to €654,026
- Accrued charges and deferred income -€49,036
no longer reported in 2025 (was €49,036)
- Taxes +€11,244
up €11,244 (+213%), from €5,289 to €16,533
- Gross operating margin +€3,865
up €3,865 (+6.2%), from €62,183 to €66,049
- Financial income -€2,985
down €2,985 (-17.9%), from €16,687 to €13,702
- Other operating charges +€2,749
up €2,749 (+26.9%), from €10,213 to €12,962
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 | €1,007,682 | €2,179,145 | +€1.2m | +116% |
| Fixed assets | 21/28 | €395,072 | €395,072 | = | 0.0% |
| Tangible fixed assets | 22/27 | €395,072 | €395,072 | = | 0.0% |
| Land and buildings | 22 | €395,072 | €395,072 | = | 0.0% |
| Current assets | 29/58 | €612,610 | €1,784,073 | +€1.2m | +191% |
| Stocks and contracts in progress | 3 | - | €1,272,823 | +€1.3m | |
| Stocks | 30/36 | - | €1,272,823 | +€1.3m | |
| Amounts receivable within one year | 40/41 | €513,369 | €504,808 | -€8,561 | -1.7% |
| Other amounts receivable | 41 | €513,369 | €504,808 | -€8,561 | -1.7% |
| Cash at bank and in hand | 54/58 | €99,240 | €6,442 | -€92,799 | -93.5% |
| Total equity and liabilities | 10/49 | €1,007,682 | €2,179,145 | +€1.2m | +116% |
| Equity | 10/15 | €806,505 | €856,279 | +€49,775 | +6.2% |
| Contributions | 10/11 | €95,439 | €95,439 | = | 0.0% |
| Capital | 10 | €95,439 | €95,439 | = | 0.0% |
| Issued capital | 100 | €95,439 | €95,439 | = | 0.0% |
| Reserves | 13 | €106,815 | €106,815 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,544 | €9,544 | = | 0.0% |
| Legal reserve | 130 | €9,544 | €9,544 | = | 0.0% |
| Tax-exempt reserves | 132 | €97,271 | €97,271 | = | 0.0% |
| Profit (loss) carried forward | 14 | €604,251 | €654,026 | +€49,775 | +8.2% |
| Provisions and deferred taxes | 16 | €152,141 | €152,141 | = | 0.0% |
| Deferred taxes | 168 | €152,141 | €152,141 | = | 0.0% |
| Amounts payable | 17/49 | €49,036 | €1,170,725 | +€1.1m | +2,288% |
| Amounts payable within one year | 42/48 | - | €1,170,725 | +€1.2m | |
| Trade debts | 44 | - | €746 | +€746 | |
| Suppliers | 440/4 | - | €746 | +€746 | |
| Other amounts payable | 47/48 | - | €1,169,979 | +€1.2m | |
| Accrued charges and deferred income | 492/3 | €49,036 | - | -€49,036 | |
| Other operating charges | 640/8 | €10,213 | €12,962 | +€2,749 | +26.9% |
| Gross operating margin | 9900 | €62,183 | €66,049 | +€3,865 | +6.2% |
| Operating profit (loss) | 9901 | €51,971 | €53,086 | +€1,116 | +2.1% |
| Financial income | 75/76B | €16,687 | €13,702 | -€2,985 | -17.9% |
| Recurring financial income | 75 | €16,687 | €13,702 | -€2,985 | -17.9% |
| Financial charges | 65/66B | €457 | €481 | +€25 | +5.4% |
| Recurring financial charges | 65 | €457 | €481 | +€25 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €68,201 | €66,308 | -€1,893 | -2.8% |
| Income taxes | 67/77 | €5,289 | €16,533 | +€11,244 | +213% |
| Profit (loss) for the period | 9904 | €62,912 | €49,775 | -€13,137 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €62,912 | €49,775 | -€13,137 | -20.9% |
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.