M.H.R.: what changed
What changed
M.H.R.
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
filed annual accounts (NBB)
Net result for the year
-€8,734
2024 · €6,942-€15,677
Equity
€142,076
2024 · €151,670-€9,593
Cash
€124,177
2024 · €121,125+€3,052
Balance sheet total
€151,614
2024 · €160,769-€9,154
Largest movements
Assets
- Receivables within one year -€8,284
down €8,284 (-34.1%), from €24,262 to €15,977
of which Other amounts receivable: -€10,127
- Tangible fixed assets -€3,740
down €3,740 (-30.8%), from €12,159 to €8,419
- Cash +€3,052
up €3,052 (+2.5%), from €121,125 to €124,177
mainly Receivables within one year (+€8,284) and Depreciation (+€3,740)
Equity and liabilities
- Profit (loss) carried forward -€9,593
down €9,593 (-11.4%), from €83,806 to €74,212
Income statement
- Gross operating margin -€18,463
down €18,463, from €14,671 to -€3,792
- Taxes -€2,949
no longer reported in 2025 (was €2,949)
- Staff costs +€400
new in 2025: €400
- Other operating charges -€368
down €368 (-32.6%), from €1,129 to €761
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
€6,942
Gross operating margin
-€18,463
Staff costs
-€400
Other operating charges
+€368
Financial income
-€115
Financial charges
-€16
Taxes
+€2,949
Result 2025
-€8,734
raises the resultlowers the result
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
+€3,911
Investment
€0
Financing
-€859
Cash 2024
€121,125
From operations (derived)
+€3,911
Net result for the year
-€8,734
Depreciation
+€3,740
Stocks and contracts
+€182
Receivables within one year
+€8,284
Trade debts
+€439
Financing
-€859
Contributions, distributions and other
-€859
Cash 2025
€124,177
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €160,769 | €151,614 | -€9,154 | -5.7% |
| Fixed assets | 21/28 | €12,989 | €9,249 | -€3,740 | -28.8% |
| Tangible fixed assets | 22/27 | €12,159 | €8,419 | -€3,740 | -30.8% |
| Plant, machinery and equipment | 23 | €6,564 | €4,760 | -€1,804 | -27.5% |
| Furniture and vehicles | 24 | €1,000 | - | -€1,000 | |
| Other tangible fixed assets | 26 | €4,595 | €3,660 | -€936 | -20.4% |
| Financial fixed assets | 28 | €830 | €830 | = | 0.0% |
| Current assets | 29/58 | €147,779 | €142,365 | -€5,414 | -3.7% |
| Stocks and contracts in progress | 3 | €2,393 | €2,211 | -€182 | -7.6% |
| Stocks | 30/36 | €2,393 | €2,211 | -€182 | -7.6% |
| Amounts receivable within one year | 40/41 | €24,262 | €15,977 | -€8,284 | -34.1% |
| Trade receivables | 40 | €6,921 | €8,764 | +€1,843 | +26.6% |
| Other amounts receivable | 41 | €17,341 | €7,213 | -€10,127 | -58.4% |
| Cash at bank and in hand | 54/58 | €121,125 | €124,177 | +€3,052 | +2.5% |
| Total equity and liabilities | 10/49 | €160,769 | €151,614 | -€9,154 | -5.7% |
| Equity | 10/15 | €151,670 | €142,076 | -€9,593 | -6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,264 | €49,264 | = | 0.0% |
| Distributable reserves | 133 | €49,264 | €49,264 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,806 | €74,212 | -€9,593 | -11.4% |
| Amounts payable | 17/49 | €9,099 | €9,538 | +€439 | +4.8% |
| Amounts payable within one year | 42/48 | €9,099 | €9,538 | +€439 | +4.8% |
| Trade debts | 44 | €5,491 | €5,930 | +€439 | +8.0% |
| Suppliers | 440/4 | €5,491 | €5,930 | +€439 | +8.0% |
| Taxes, remuneration and social security | 45 | €534 | €534 | = | 0.0% |
| Taxes | 450/3 | €534 | €534 | = | 0.0% |
| Other amounts payable | 47/48 | €3,074 | €3,074 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,740 | €3,740 | = | 0.0% |
| Other operating charges | 640/8 | €1,129 | €761 | -€368 | -32.6% |
| Gross operating margin | 9900 | €14,671 | -€3,792 | -€18,463 | |
| Operating profit (loss) | 9901 | €9,802 | -€8,692 | -€18,494 | |
| Financial income | 75/76B | €145 | €30 | -€115 | -79.3% |
| Recurring financial income | 75 | €145 | €30 | -€115 | -79.3% |
| Financial charges | 65/66B | €56 | €72 | +€16 | +29.5% |
| Recurring financial charges | 65 | €56 | €72 | +€16 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | €9,892 | -€8,734 | -€18,626 | |
| Income taxes | 67/77 | €2,949 | - | -€2,949 | |
| Profit (loss) for the period | 9904 | €6,942 | -€8,734 | -€15,677 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,942 | -€8,734 | -€15,677 |
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 6 November 2026 via checked.be.