M&H Bakkerij: what changed
What changed
M&H Bakkerij
NACE 10.712, Artisanal bread and fresh pastry making
filed annual accounts (NBB)
Net result for the year
€15,805
2024 · -€45,650+€61,455
Equity
€132,907
2024 · €117,102+€15,805
Cash
€12,194
2024 · €13,424-€1,230
Balance sheet total
€2.2m
2024 · €1.7m+€526,987
Largest movements
Assets
- Receivables within one year +€401,939
up €401,939 (+27.9%), from €1.4m to €1.8m
of which Trade receivables: +€730,744
- Receivables after one year +€104,539
up €104,539 (+210%), from €49,739 to €154,278
- Stocks and contracts +€50,500
up €50,500 (+1,190%), from €4,245 to €54,745
- Tangible fixed assets -€28,761
down €28,761 (-15.0%), from €192,081 to €163,320
of which Plant, machinery and equipment: -€16,553
Equity and liabilities
- Trade debts +€514,896
up €514,896 (+35.3%), from €1.5m to €2.0m
- Other debts -€35,895
down €35,895 (-58.4%), from €61,447 to €25,552
- Tax, wage and social debts +€32,481
up €32,481 (+50.0%), from €64,991 to €97,472
of which Remuneration and social security: +€28,327
Income statement
- Write-downs -€213,451
down €213,451 (-100%), from €213,451 to €0
- Financial income -€129,220
no longer reported in 2025 (was €129,220)
of which Non-recurring financial income: -€129,220
- Gross operating margin +€71,564
up €71,564 (+18.7%), from €382,664 to €454,228
- Other operating charges +€12,438
up €12,438 (+135%), from €9,239 to €21,677
- Depreciation +€8,190
up €8,190 (+28.7%), from €28,570 to €36,760
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€45,650
Gross operating margin
+€71,564
Staff costs
-€612
Depreciation
-€8,190
Write-downs
+€213,451
Other operating charges
-€12,438
Other operating items
-€65,240
Financial income
-€129,220
Financial charges
-€2,592
Taxes
-€5,268
Result 2025
€15,805
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€7,069
Investment
-€7,999
Financing
-€300
Cash 2024
€13,424
From operations (derived)
+€7,069
Net result for the year
+€15,805
Depreciation
+€36,760
Receivables after one year
-€104,539
Stocks and contracts
-€50,500
Receivables within one year
-€401,939
Trade debts
+€514,896
Tax, wage and social debts
+€32,481
Other debts
-€35,895
Investment (derived)
-€7,999
Investment in fixed assets (net)
-€7,999
Financing
-€300
Short-term financial debts
-€300
Cash 2025
€12,194
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,704,971 | €2,231,958 | +€526,987 | +30.9% |
| Fixed assets | 21/28 | €194,615 | €165,854 | -€28,761 | -14.8% |
| Tangible fixed assets | 22/27 | €192,081 | €163,320 | -€28,761 | -15.0% |
| Land and buildings | 22 | €77,340 | €67,221 | -€10,119 | -13.1% |
| Plant, machinery and equipment | 23 | €85,228 | €68,675 | -€16,553 | -19.4% |
| Furniture and vehicles | 24 | €29,513 | €27,424 | -€2,089 | -7.1% |
| Financial fixed assets | 28 | €2,534 | €2,534 | = | 0.0% |
| Current assets | 29/58 | €1,510,356 | €2,066,104 | +€555,748 | +36.8% |
| Amounts receivable after more than one year | 29 | €49,739 | €154,278 | +€104,539 | +210% |
| Other amounts receivable | 291 | €49,739 | €154,278 | +€104,539 | +210% |
| Stocks and contracts in progress | 3 | €4,245 | €54,745 | +€50,500 | +1,190% |
| Stocks | 30/36 | €4,245 | €54,745 | +€50,500 | +1,190% |
| Amounts receivable within one year | 40/41 | €1,442,948 | €1,844,887 | +€401,939 | +27.9% |
| Trade receivables | 40 | €1,078,061 | €1,808,805 | +€730,744 | +67.8% |
| Other amounts receivable | 41 | €364,887 | €36,082 | -€328,805 | -90.1% |
| Cash at bank and in hand | 54/58 | €13,424 | €12,194 | -€1,230 | -9.2% |
| Total equity and liabilities | 10/49 | €1,704,971 | €2,231,958 | +€526,987 | +30.9% |
| Equity | 10/15 | €117,102 | €132,907 | +€15,805 | +13.5% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €155,752 | €171,557 | +€15,805 | +10.1% |
| Distributable reserves | 133 | €155,752 | €171,557 | +€15,805 | +10.1% |
| Profit (loss) carried forward | 14 | -€45,650 | -€45,650 | = | 0.0% |
| Amounts payable | 17/49 | €1,587,869 | €2,099,051 | +€511,182 | +32.2% |
| Amounts payable within one year | 42/48 | €1,587,869 | €2,099,051 | +€511,182 | +32.2% |
| Financial debts | 43 | €1,087 | €787 | -€300 | -27.6% |
| Other loans | 439 | €1,087 | €787 | -€300 | -27.6% |
| Trade debts | 44 | €1,460,344 | €1,975,240 | +€514,896 | +35.3% |
| Suppliers | 440/4 | €1,460,344 | €1,975,240 | +€514,896 | +35.3% |
| Taxes, remuneration and social security | 45 | €64,991 | €97,472 | +€32,481 | +50.0% |
| Taxes | 450/3 | €40,130 | €44,284 | +€4,154 | +10.4% |
| Remuneration and social security | 454/9 | €24,861 | €53,188 | +€28,327 | +114% |
| Other amounts payable | 47/48 | €61,447 | €25,552 | -€35,895 | -58.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €299,887 | €300,499 | +€612 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,570 | €36,760 | +€8,190 | +28.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €213,451 | €0 | -€213,451 | -100% |
| Other operating charges | 640/8 | €9,239 | €21,677 | +€12,438 | +135% |
| Non-recurring operating charges | 66A | €0 | €65,240 | +€65,240 | |
| Gross operating margin | 9900 | €382,664 | €454,228 | +€71,564 | +18.7% |
| Operating profit (loss) | 9901 | -€168,483 | €30,052 | +€198,535 | |
| Financial income | 75/76B | €129,220 | - | -€129,220 | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €129,220 | - | -€129,220 | |
| Financial charges | 65/66B | €6,387 | €8,979 | +€2,592 | +40.6% |
| Recurring financial charges | 65 | €6,387 | €8,979 | +€2,592 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,650 | €21,073 | +€66,723 | |
| Income taxes | 67/77 | €0 | €5,268 | +€5,268 | |
| Profit (loss) for the period | 9904 | -€45,650 | €15,805 | +€61,455 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,650 | €15,805 | +€61,455 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.