M&H Verwarming: what changed
M&H Verwarming
Largest movements
- Tangible fixed assets +€12,157
up €12,157 (+232%), from €5,243 to €17,400
- Cash +€6,524
up €6,524 (+7.0%), from €93,471 to €99,995
mainly Net result for the year (+€39,980) and Trade debts (+€32,047)
- Profit (loss) carried forward -€39,135
down €39,135 (-44.3%), from €88,384 to €49,249
- Trade debts +€32,047
up €32,047 (+415%), from €7,715 to €39,762
- Reserves +€21,923
new in 2025: €21,923
- Tax, wage and social debts +€19,663
up €19,663 (+118%), from €16,714 to €36,377
of which Taxes: +€17,942
- Other debts -€15,000
down €15,000 (-42.9%), from €35,000 to €20,000
- Taxes -€16,717
down €16,717 (-51.5%), from €32,467 to €15,750
- Depreciation -€10,701
down €10,701 (-73.0%), from €14,665 to €3,964
- Gross operating margin -€7,771
down €7,771 (-10.8%), from €72,065 to €64,295
- Financial charges +€2,824
up €2,824 (+4,625%), from €61 to €2,885
- Financial income -€1,099
down €1,099 (-83.4%), from €1,319 to €220
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,813 | €169,565 | +€19,751 | +13.2% |
| Fixed assets | 21/28 | €5,243 | €17,400 | +€12,157 | +232% |
| Tangible fixed assets | 22/27 | €5,243 | €17,400 | +€12,157 | +232% |
| Furniture and vehicles | 24 | €5,243 | €17,400 | +€12,157 | +232% |
| Current assets | 29/58 | €144,570 | €152,165 | +€7,595 | +5.3% |
| Amounts receivable within one year | 40/41 | €49,368 | €50,599 | +€1,231 | +2.5% |
| Trade receivables | 40 | €7,088 | €44,870 | +€37,782 | +533% |
| Other amounts receivable | 41 | €42,280 | €5,729 | -€36,551 | -86.5% |
| Cash at bank and in hand | 54/58 | €93,471 | €99,995 | +€6,524 | +7.0% |
| Deferred charges and accrued income | 490/1 | €1,732 | €1,571 | -€160 | -9.3% |
| Total equity and liabilities | 10/49 | €149,813 | €169,565 | +€19,751 | +13.2% |
| Equity | 10/15 | €90,384 | €73,172 | -€17,213 | -19.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €21,923 | +€21,923 | |
| Distributable reserves | 133 | - | €21,923 | +€21,923 | |
| Profit (loss) carried forward | 14 | €88,384 | €49,249 | -€39,135 | -44.3% |
| Amounts payable | 17/49 | €59,429 | €96,393 | +€36,964 | +62.2% |
| Amounts payable within one year | 42/48 | €59,429 | €96,393 | +€36,964 | +62.2% |
| Trade debts | 44 | €7,715 | €39,762 | +€32,047 | +415% |
| Suppliers | 440/4 | €7,715 | €39,762 | +€32,047 | +415% |
| Advances received on contracts in progress | 46 | - | €254 | +€254 | |
| Taxes, remuneration and social security | 45 | €16,714 | €36,377 | +€19,663 | +118% |
| Taxes | 450/3 | €16,707 | €34,650 | +€17,942 | +107% |
| Remuneration and social security | 454/9 | €7 | €1,727 | +€1,721 | +26,233% |
| Other amounts payable | 47/48 | €35,000 | €20,000 | -€15,000 | -42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,665 | €3,964 | -€10,701 | -73.0% |
| Other operating charges | 640/8 | €2,077 | €1,935 | -€141 | -6.8% |
| Gross operating margin | 9900 | €72,065 | €64,295 | -€7,771 | -10.8% |
| Operating profit (loss) | 9901 | €55,324 | €58,395 | +€3,072 | +5.6% |
| Financial income | 75/76B | €1,319 | €220 | -€1,099 | -83.4% |
| Recurring financial income | 75 | €1,319 | €220 | -€1,099 | -83.4% |
| Financial charges | 65/66B | €61 | €2,885 | +€2,824 | +4,625% |
| Recurring financial charges | 65 | €61 | €2,885 | +€2,824 | +4,625% |
| Profit (loss) for the period before taxes | 9903 | €56,581 | €55,730 | -€852 | -1.5% |
| Income taxes | 67/77 | €32,467 | €15,750 | -€16,717 | -51.5% |
| Profit (loss) for the period | 9904 | €24,115 | €39,980 | +€15,865 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,115 | €39,980 | +€15,865 | +65.8% |
Next steps
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 4 November 2026 via checked.be.