M.H.I: 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.
M.H.I
Largest movements
- Tangible fixed assets -€13,809
down €13,809 (-10.3%), from €133,684 to €119,875
of which Land and buildings: -€7,875
- Intangible fixed assets -€8,575
down €8,575 (-44.4%), from €19,325 to €10,750
- Debts after one year -€20,205
down €20,205 (-21.1%), from €95,706 to €75,501
- Profit (loss) carried forward -€19,230
down €19,230 (-22.8%), from -€84,193 to -€103,423
- Trade debts +€9,560
up €9,560 (+39.9%), from €23,954 to €33,514
- Current portion of long-term debt +€3,897
up €3,897 (+31.2%), from €12,497 to €16,393
- Other debts +€3,711
up €3,711 (+3.6%), from €102,844 to €106,555
- Gross operating margin +€1,965
up €1,965 (+38.2%), from €5,139 to €7,104
- Depreciation -€548
down €548 (-2.4%), from €22,932 to €22,384
- Financial charges -€504
down €504 (-15.3%), from €3,288 to €2,784
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 | €155,733 | €132,871 | -€22,861 | -14.7% |
| Fixed assets | 21/28 | €153,009 | €130,625 | -€22,384 | -14.6% |
| Intangible fixed assets | 21 | €19,325 | €10,750 | -€8,575 | -44.4% |
| Tangible fixed assets | 22/27 | €133,684 | €119,875 | -€13,809 | -10.3% |
| Land and buildings | 22 | €127,750 | €119,875 | -€7,875 | -6.2% |
| Furniture and vehicles | 24 | €5,934 | - | -€5,934 | |
| Current assets | 29/58 | €2,723 | €2,246 | -€477 | -17.5% |
| Cash at bank and in hand | 54/58 | €2,723 | €2,246 | -€477 | -17.5% |
| Total equity and liabilities | 10/49 | €155,733 | €132,871 | -€22,861 | -14.7% |
| Equity | 10/15 | -€83,665 | -€102,895 | -€19,230 | -23.0% |
| Reserves | 13 | €528 | €528 | = | 0.0% |
| Non-distributable reserves | 130/1 | €528 | €528 | = | 0.0% |
| Reserves not available under the articles | 1311 | €528 | €528 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,193 | -€103,423 | -€19,230 | -22.8% |
| Amounts payable | 17/49 | €239,398 | €235,766 | -€3,632 | -1.5% |
| Amounts payable after more than one year | 17 | €95,706 | €75,501 | -€20,205 | -21.1% |
| Financial debts | 170/4 | €95,706 | €75,501 | -€20,205 | -21.1% |
| Amounts payable within one year | 42/48 | €143,692 | €160,266 | +€16,573 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €12,497 | €16,393 | +€3,897 | +31.2% |
| Trade debts | 44 | €23,954 | €33,514 | +€9,560 | +39.9% |
| Suppliers | 440/4 | €23,954 | €33,514 | +€9,560 | +39.9% |
| Taxes, remuneration and social security | 45 | €4,398 | €3,803 | -€594 | -13.5% |
| Taxes | 450/3 | €4,398 | €3,803 | -€594 | -13.5% |
| Other amounts payable | 47/48 | €102,844 | €106,555 | +€3,711 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,932 | €22,384 | -€548 | -2.4% |
| Other operating charges | 640/8 | €1,212 | €1,166 | -€46 | -3.8% |
| Gross operating margin | 9900 | €5,139 | €7,104 | +€1,965 | +38.2% |
| Operating profit (loss) | 9901 | -€19,005 | -€16,446 | +€2,560 | +13.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,288 | €2,784 | -€504 | -15.3% |
| Recurring financial charges | 65 | €3,288 | €2,784 | -€504 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€22,293 | -€19,230 | +€3,063 | +13.7% |
| Profit (loss) for the period | 9904 | -€22,293 | -€19,230 | +€3,063 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,293 | -€19,230 | +€3,063 | +13.7% |
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 18 October 2026 via checked.be.