M&H Millings: 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 Millings
Largest movements
- Tangible fixed assets -€37,205
down €37,205 (-58.3%), from €63,768 to €26,563
of which Plant, machinery and equipment: -€40,134
- Receivables within one year -€28,173
down €28,173 (-73.2%), from €38,489 to €10,315
of which Trade receivables: -€28,713
- Deferred charges and accrued income -€3,841
down €3,841 (-88.2%), from €4,357 to €516
- Profit (loss) carried forward -€35,609
down €35,609 (-27.7%), from -€128,331 to -€163,939
- Current portion of long-term debt -€25,623
down €25,623 (-62.8%), from €40,779 to €15,156
- Debts after one year -€15,156
down €15,156 (-100%), from €15,156 to €0
- Trade debts +€8,221
up €8,221 (+57.6%), from €14,270 to €22,491
- Short-term financial debts -€6,627
down €6,627 (-31.5%), from €21,007 to €14,380
- Gross operating margin -€40,260
down €40,260 (-77.2%), from €52,122 to €11,862
- Depreciation -€3,814
down €3,814 (-8.2%), from €46,702 to €42,888
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,324 | €44,261 | -€70,063 | -61.3% |
| Fixed assets | 21/28 | €63,768 | €26,563 | -€37,205 | -58.3% |
| Tangible fixed assets | 22/27 | €63,768 | €26,563 | -€37,205 | -58.3% |
| Plant, machinery and equipment | 23 | €62,275 | €22,141 | -€40,134 | -64.4% |
| Furniture and vehicles | 24 | €1,493 | €4,422 | +€2,929 | +196% |
| Current assets | 29/58 | €50,556 | €17,698 | -€32,858 | -65.0% |
| Stocks and contracts in progress | 3 | €7,711 | €6,867 | -€844 | -10.9% |
| Stocks | 30/36 | €7,711 | €6,867 | -€844 | -10.9% |
| Amounts receivable within one year | 40/41 | €38,489 | €10,315 | -€28,173 | -73.2% |
| Trade receivables | 40 | €38,285 | €9,572 | -€28,713 | -75.0% |
| Other amounts receivable | 41 | €204 | €743 | +€540 | +265% |
| Deferred charges and accrued income | 490/1 | €4,357 | €516 | -€3,841 | -88.2% |
| Total equity and liabilities | 10/49 | €114,324 | €44,261 | -€70,063 | -61.3% |
| Equity | 10/15 | -€98,840 | -€134,449 | -€35,609 | -36.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,891 | €10,891 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €10,891 | €10,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€128,331 | -€163,939 | -€35,609 | -27.7% |
| Amounts payable | 17/49 | €213,164 | €178,710 | -€34,454 | -16.2% |
| Amounts payable after more than one year | 17 | €15,156 | €0 | -€15,156 | -100% |
| Financial debts | 170/4 | €15,156 | €0 | -€15,156 | -100% |
| Amounts payable within one year | 42/48 | €198,008 | €178,710 | -€19,298 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €40,779 | €15,156 | -€25,623 | -62.8% |
| Financial debts | 43 | €21,007 | €14,380 | -€6,627 | -31.5% |
| Credit institutions | 430/8 | €21,007 | €14,380 | -€6,627 | -31.5% |
| Trade debts | 44 | €14,270 | €22,491 | +€8,221 | +57.6% |
| Suppliers | 440/4 | €14,270 | €22,491 | +€8,221 | +57.6% |
| Taxes, remuneration and social security | 45 | €663 | €244 | -€419 | -63.1% |
| Taxes | 450/3 | €663 | €244 | -€419 | -63.1% |
| Other amounts payable | 47/48 | €121,290 | €126,438 | +€5,149 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,702 | €42,888 | -€3,814 | -8.2% |
| Other operating charges | 640/8 | €1,315 | €1,769 | +€454 | +34.5% |
| Gross operating margin | 9900 | €52,122 | €11,862 | -€40,260 | -77.2% |
| Operating profit (loss) | 9901 | €4,105 | -€32,795 | -€36,900 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -100% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100% |
| Financial charges | 65/66B | €2,620 | €2,569 | -€51 | -1.9% |
| Recurring financial charges | 65 | €2,620 | €2,569 | -€51 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €1,491 | -€35,364 | -€36,856 | |
| Income taxes | 67/77 | €232 | €244 | +€13 | +5.4% |
| Profit (loss) for the period | 9904 | €1,259 | -€35,609 | -€36,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,259 | -€35,609 | -€36,868 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.