M&H: 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.
M&H
Largest movements
- Tangible fixed assets +€55,518
up €55,518 (+96.8%), from €57,327 to €112,845
of which Furniture and vehicles: +€46,562
- Deferred charges and accrued income +€29,809
up €29,809 (+2758.2%), from €1,081 to €30,890
- Receivables within one year +€10,987
up €10,987 (+1025.3%), from €1,072 to €12,058
- Cash -€10,535
down €10,535 (-9.4%), from €111,922 to €101,387
mainly Investment in fixed assets (net) (-€74,118) and Accrued charges and deferred income (-€48,200)
- Trade debts +€50,147
up €50,147 (+180.7%), from €27,747 to €77,894
- Accrued charges and deferred income -€48,200
no longer reported in 2024 (was €48,200)
- Tax, wage and social debts +€27,956
up €27,956 (+132.7%), from €21,068 to €49,024
of which Remuneration and social security: +€29,929
- Debts after one year +€22,881
new in 2024: €22,881
- Profit (loss) carried forward +€15,034
up €15,034 (+27.0%), from €55,786 to €70,820
- Gross operating margin +€25,599
up €25,599 (+33.3%), from €76,859 to €102,457
- Depreciation +€11,719
up €11,719 (+170.3%), from €6,881 to €18,600
- Staff costs +€8,057
up €8,057 (+20.5%), from €39,354 to €47,411
- Taxes +€7,221
up €7,221 (+123.3%), from €5,855 to €13,076
- Financial charges +€2,557
up €2,557 (+256.6%), from €997 to €3,553
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €171,401 | €257,181 | +€85,780 | +50.0% |
| Fixed assets | 21/28 | €57,327 | €112,845 | +€55,518 | +96.8% |
| Tangible fixed assets | 22/27 | €57,327 | €112,845 | +€55,518 | +96.8% |
| Plant, machinery and equipment | 23 | €5,077 | €19,612 | +€14,535 | +286.3% |
| Furniture and vehicles | 24 | €2,745 | €49,306 | +€46,562 | +1696.3% |
| Other tangible fixed assets | 26 | €49,505 | €43,927 | -€5,578 | -11.3% |
| Current assets | 29/58 | €114,074 | €144,336 | +€30,262 | +26.5% |
| Amounts receivable within one year | 40/41 | €1,072 | €12,058 | +€10,987 | +1025.3% |
| Other amounts receivable | 41 | €1,072 | €12,058 | +€10,987 | +1025.3% |
| Cash at bank and in hand | 54/58 | €111,922 | €101,387 | -€10,535 | -9.4% |
| Deferred charges and accrued income | 490/1 | €1,081 | €30,890 | +€29,809 | +2758.2% |
| Total equity and liabilities | 10/49 | €171,401 | €257,181 | +€85,780 | +50.0% |
| Equity | 10/15 | €74,386 | €89,420 | +€15,034 | +20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,786 | €70,820 | +€15,034 | +27.0% |
| Amounts payable | 17/49 | €97,015 | €167,761 | +€70,746 | +72.9% |
| Amounts payable after more than one year | 17 | - | €22,881 | +€22,881 | |
| Financial debts | 170/4 | - | €22,881 | +€22,881 | |
| Amounts payable within one year | 42/48 | €48,815 | €144,880 | +€96,064 | +196.8% |
| Current portion of amounts payable after more than one year | 42 | - | €9,675 | +€9,675 | |
| Trade debts | 44 | €27,747 | €77,894 | +€50,147 | +180.7% |
| Suppliers | 440/4 | €27,747 | €77,894 | +€50,147 | +180.7% |
| Taxes, remuneration and social security | 45 | €21,068 | €49,024 | +€27,956 | +132.7% |
| Taxes | 450/3 | €20,356 | €18,383 | -€1,973 | -9.7% |
| Remuneration and social security | 454/9 | €712 | €30,641 | +€29,929 | +4201.1% |
| Other amounts payable | 47/48 | - | €8,287 | +€8,287 | |
| Accrued charges and deferred income | 492/3 | €48,200 | - | -€48,200 | |
| Remuneration, social security and pensions | 62 | €39,354 | €47,411 | +€8,057 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,881 | €18,600 | +€11,719 | +170.3% |
| Other operating charges | 640/8 | €2,278 | €4,784 | +€2,506 | +110.0% |
| Gross operating margin | 9900 | €76,859 | €102,457 | +€25,599 | +33.3% |
| Operating profit (loss) | 9901 | €28,346 | €31,663 | +€3,317 | +11.7% |
| Financial income | 75/76B | €0 | €2 | +€2 | +3850.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +3850.0% |
| Financial charges | 65/66B | €997 | €3,553 | +€2,557 | +256.6% |
| Recurring financial charges | 65 | €997 | €3,553 | +€2,557 | +256.6% |
| Profit (loss) for the period before taxes | 9903 | €27,349 | €28,111 | +€761 | +2.8% |
| Income taxes | 67/77 | €5,855 | €13,076 | +€7,221 | +123.3% |
| Profit (loss) for the period | 9904 | €21,494 | €15,034 | -€6,460 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,494 | €15,034 | -€6,460 | -30.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.