M HOUSE: 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 HOUSE
Largest movements
- Financial fixed assets +€349,000
up €349,000 (+712%), from €49,000 to €398,000
- Receivables within one year -€343,517
down €343,517 (-84.2%), from €408,193 to €64,676
of which Other amounts receivable: -€353,008
- Tangible fixed assets -€30,749
down €30,749 (-4.8%), from €647,266 to €616,517
of which Land and buildings: -€20,615
- Stocks and contracts -€27,600
no longer reported in 2025 (was €27,600)
- Cash +€15,237
up €15,237 (+92.4%), from €16,483 to €31,720
mainly Receivables within one year (+€343,517) and Other debts (+€98,110)
- Other debts +€98,110
up €98,110 (+25.5%), from €385,148 to €483,258
- Debts after one year -€94,889
down €94,889 (-29.8%), from €318,629 to €223,740
- Tax, wage and social debts -€73,301
down €73,301 (-77.5%), from €94,598 to €21,297
- Reserves +€42,155
up €42,155 (+24.7%), from €170,468 to €212,623
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Turnover -€303,817
no longer reported in 2025 (was €303,817)
- Purchases and services -€91,527
no longer reported in 2025 (was €91,527)
- Gross operating margin -€72,404
down €72,404 (-34.1%), from €212,290 to €139,886
- Taxes -€62,414
down €62,414 (-81.7%), from €76,356 to €13,942
- Other operating charges -€5,870
down €5,870 (-34.7%), from €16,910 to €11,040
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 | €1,149,576 | €1,113,215 | -€36,361 | -3.2% |
| Fixed assets | 21/28 | €696,266 | €1,014,517 | +€318,251 | +45.7% |
| Tangible fixed assets | 22/27 | €647,266 | €616,517 | -€30,749 | -4.8% |
| Land and buildings | 22 | €341,912 | €321,297 | -€20,615 | -6.0% |
| Plant, machinery and equipment | 23 | €14,734 | €14,734 | +€0 | 0.0% |
| Furniture and vehicles | 24 | - | €3,565 | +€3,565 | |
| Leasing and similar rights | 25 | €290,620 | €276,920 | -€13,700 | -4.7% |
| Financial fixed assets | 28 | €49,000 | €398,000 | +€349,000 | +712% |
| Current assets | 29/58 | €453,310 | €98,698 | -€354,612 | -78.2% |
| Stocks and contracts in progress | 3 | €27,600 | - | -€27,600 | |
| Stocks | 30/36 | €27,600 | - | -€27,600 | |
| Amounts receivable within one year | 40/41 | €408,193 | €64,676 | -€343,517 | -84.2% |
| Trade receivables | 40 | €55,185 | €64,676 | +€9,491 | +17.2% |
| Other amounts receivable | 41 | €353,008 | - | -€353,008 | |
| Cash at bank and in hand | 54/58 | €16,483 | €31,720 | +€15,237 | +92.4% |
| Deferred charges and accrued income | 490/1 | €1,034 | €2,302 | +€1,268 | +123% |
| Total equity and liabilities | 10/49 | €1,149,576 | €1,113,215 | -€36,361 | -3.2% |
| Equity | 10/15 | €211,580 | €235,135 | +€23,555 | +11.1% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €170,468 | €212,623 | +€42,155 | +24.7% |
| Distributable reserves | 133 | €170,468 | €212,623 | +€42,155 | +24.7% |
| Profit (loss) carried forward | 14 | €22,512 | €22,512 | -€0 | 0.0% |
| Amounts payable | 17/49 | €937,996 | €878,080 | -€59,916 | -6.4% |
| Amounts payable after more than one year | 17 | €318,629 | €223,740 | -€94,889 | -29.8% |
| Financial debts | 170/4 | €318,629 | €223,740 | -€94,889 | -29.8% |
| Amounts payable within one year | 42/48 | €619,367 | €654,340 | +€34,973 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €98,297 | €103,219 | +€4,922 | +5.0% |
| Trade debts | 44 | €41,324 | €46,564 | +€5,240 | +12.7% |
| Suppliers | 440/4 | €41,324 | €46,564 | +€5,240 | +12.7% |
| Taxes, remuneration and social security | 45 | €94,598 | €21,297 | -€73,301 | -77.5% |
| Taxes | 450/3 | €94,598 | €21,297 | -€73,301 | -77.5% |
| Other amounts payable | 47/48 | €385,148 | €483,258 | +€98,110 | +25.5% |
| Turnover | 70 | €303,817 | - | -€303,817 | |
| Non-recurring operating income | 76A | €42,005 | - | -€42,005 | |
| Goods, raw materials, services and sundry goods | 60/61 | €91,527 | - | -€91,527 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,780 | €76,411 | +€1,631 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €212 | - | -€212 | |
| Other operating charges | 640/8 | €16,910 | €11,040 | -€5,870 | -34.7% |
| Gross operating margin | 9900 | €212,290 | €139,886 | -€72,404 | -34.1% |
| Operating profit (loss) | 9901 | €120,388 | €52,435 | -€67,953 | -56.4% |
| Financial charges | 65/66B | €18,977 | €14,938 | -€4,039 | -21.3% |
| Recurring financial charges | 65 | €18,977 | €14,938 | -€4,039 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €101,411 | €37,498 | -€63,913 | -63.0% |
| Transfer from deferred taxes | 780 | €42,056 | - | -€42,056 | |
| Income taxes | 67/77 | €76,356 | €13,942 | -€62,414 | -81.7% |
| Profit (loss) for the period | 9904 | €67,111 | €23,555 | -€43,556 | -64.9% |
| Transfer from tax-exempt reserves | 789 | €81,637 | - | -€81,637 | |
| Profit (loss) for the period to be appropriated | 9905 | €148,748 | €23,555 | -€125,193 | -84.2% |
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 17 October 2026 via checked.be.