MCH: 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.
MCH
Largest movements
- Receivables after one year +€991,894
up €991,894 (+68.2%), from €1.5m to €2.4m
- Receivables within one year -€338,426
down €338,426 (-93.7%), from €361,197 to €22,771
of which Trade receivables: -€338,426
- Reserves +€574,509
up €574,509 (+151%), from €380,647 to €955,156
of which Distributable reserves: +€576,509
- Financial charges -€1.1m
down €1.1m (-89.7%), from €1.2m to €121,053
of which Non-recurring financial charges: -€1.1m
- Financial income -€595,682
down €595,682 (-60.6%), from €982,853 to €387,170
- Gross operating margin +€164,388
up €164,388 (+63.5%), from €258,728 to €423,116
- Taxes +€64,465
up €64,465 (+13,090%), from €492 to €64,958
- Other operating charges +€18,011
up €18,011 (+579%), from €3,112 to €21,123
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 | €4,728,206 | €5,399,944 | +€671,737 | +14.2% |
| Fixed assets | 21/28 | €2,907,643 | €2,923,515 | +€15,872 | +0.5% |
| Tangible fixed assets | 22/27 | €195,179 | €184,060 | -€11,119 | -5.7% |
| Land and buildings | 22 | €90,000 | €90,000 | = | 0.0% |
| Furniture and vehicles | 24 | €105,179 | €94,060 | -€11,119 | -10.6% |
| Financial fixed assets | 28 | €2,712,463 | €2,739,455 | +€26,991 | +1.0% |
| Current assets | 29/58 | €1,820,564 | €2,476,429 | +€655,865 | +36.0% |
| Amounts receivable after more than one year | 29 | €1,453,545 | €2,445,439 | +€991,894 | +68.2% |
| Other amounts receivable | 291 | €1,453,545 | €2,445,439 | +€991,894 | +68.2% |
| Amounts receivable within one year | 40/41 | €361,197 | €22,771 | -€338,426 | -93.7% |
| Trade receivables | 40 | €361,197 | €22,771 | -€338,426 | -93.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €5,822 | €8,219 | +€2,397 | +41.2% |
| Total equity and liabilities | 10/49 | €4,728,206 | €5,399,944 | +€671,737 | +14.2% |
| Equity | 10/15 | €2,393,047 | €2,967,556 | +€574,509 | +24.0% |
| Contributions | 10/11 | €2,012,400 | €2,012,400 | = | 0.0% |
| Reserves | 13 | €380,647 | €955,156 | +€574,509 | +151% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100% |
| Distributable reserves | 133 | €378,647 | €955,156 | +€576,509 | +152% |
| Amounts payable | 17/49 | €2,335,159 | €2,432,388 | +€97,228 | +4.2% |
| Amounts payable after more than one year | 17 | €2,272,194 | €2,238,617 | -€33,577 | -1.5% |
| Financial debts | 170/4 | €2,272,194 | €2,238,617 | -€33,577 | -1.5% |
| Amounts payable within one year | 42/48 | €62,966 | €193,771 | +€130,805 | +208% |
| Current portion of amounts payable after more than one year | 42 | €16,879 | €64,530 | +€47,652 | +282% |
| Financial debts | 43 | - | €37 | +€37 | |
| Credit institutions | 430/8 | - | €37 | +€37 | |
| Trade debts | 44 | €4,990 | €10,154 | +€5,164 | +104% |
| Suppliers | 440/4 | €4,990 | €10,154 | +€5,164 | +104% |
| Taxes, remuneration and social security | 45 | €41,097 | €82,082 | +€40,985 | +99.7% |
| Taxes | 450/3 | €41,097 | €82,082 | +€40,985 | +99.7% |
| Other amounts payable | 47/48 | €0 | €36,967 | +€36,967 | |
| Non-recurring operating income | 76A | - | €115,251 | +€115,251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,772 | €28,643 | +€11,871 | +70.8% |
| Other operating charges | 640/8 | €3,112 | €21,123 | +€18,011 | +579% |
| Gross operating margin | 9900 | €258,728 | €423,116 | +€164,388 | +63.5% |
| Operating profit (loss) | 9901 | €238,844 | €373,350 | +€134,506 | +56.3% |
| Financial income | 75/76B | €982,853 | €387,170 | -€595,682 | -60.6% |
| Recurring financial income | 75 | €982,853 | €387,170 | -€595,682 | -60.6% |
| Financial charges | 65/66B | €1,176,010 | €121,053 | -€1.1m | -89.7% |
| Recurring financial charges | 65 | €31,270 | €116,229 | +€84,959 | +272% |
| Non-recurring financial charges | 66B | €1,144,740 | €4,824 | -€1.1m | -99.6% |
| Profit (loss) for the period before taxes | 9903 | €45,686 | €639,466 | +€593,780 | +1,300% |
| Income taxes | 67/77 | €492 | €64,958 | +€64,465 | +13,090% |
| Profit (loss) for the period | 9904 | €45,194 | €574,509 | +€529,315 | +1,171% |
| Profit (loss) for the period to be appropriated | 9905 | €45,194 | €574,509 | +€529,315 | +1,171% |
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 16 October 2026 via checked.be.