MdH HOLDING: what changed
What changed
MdH HOLDING
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€475,075
2024 · €344,789+€130,286
Equity
€17.9m
2024 · €17.4m+€475,075
Cash
€531,757
2024 · €463,114+€68,643
Balance sheet total
€18.1m
2024 · €17.5m+€634,088
Largest movements
Assets
- Receivables within one year +€713,099
up €713,099 (+75.1%), from €949,623 to €1.7m
of which Other amounts receivable: +€784,871
- Current investments -€199,573
down €199,573 (-41.8%), from €477,840 to €278,268
Equity and liabilities
- Reserves +€475,070
up €475,070 (+42.7%), from €1.1m to €1.6m
Income statement
- Financial income +€173,675
up €173,675 (+60.2%), from €288,371 to €462,046
- Gross operating margin -€23,080
down €23,080 (-15.6%), from €147,479 to €124,399
- Depreciation +€10,309
up €10,309 (+481%), from €2,143 to €12,452
- Taxes +€5,171
up €5,171 (+6.0%), from €86,802 to €91,972
- Staff costs +€4,596
new in 2025: €4,596
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
€344,789
Gross operating margin
-€23,080
Staff costs
-€4,596
Depreciation
-€10,309
Other operating charges
-€84
Financial income
+€173,675
Financial charges
-€149
Taxes
-€5,171
Result 2025
€475,075
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
-€68,554
Investment
+€137,197
Financing
€0
Cash 2024
€463,114
From operations (derived)
-€68,554
Net result for the year
+€475,075
Depreciation
+€12,452
Receivables within one year
-€713,099
Deferred charges and accrued income
-€1,995
Trade debts
+€5,984
Tax, wage and social debts
+€3,198
Other debts
+€149,832
Investment (derived)
+€137,197
Investment in fixed assets (net)
-€62,376
Current investments
+€199,573
Cash 2025
€531,757
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,457,431 | €18,091,520 | +€634,088 | +3.6% |
| Fixed assets | 21/28 | €15,564,372 | €15,614,296 | +€49,924 | +0.3% |
| Tangible fixed assets | 22/27 | €10,802 | €60,726 | +€49,924 | +462% |
| Furniture and vehicles | 24 | €10,802 | €60,726 | +€49,924 | +462% |
| Financial fixed assets | 28 | €15,553,569 | €15,553,569 | = | 0.0% |
| Current assets | 29/58 | €1,893,060 | €2,477,224 | +€584,164 | +30.9% |
| Amounts receivable within one year | 40/41 | €949,623 | €1,662,722 | +€713,099 | +75.1% |
| Trade receivables | 40 | €71,772 | €0 | -€71,772 | -100% |
| Other amounts receivable | 41 | €877,851 | €1,662,722 | +€784,871 | +89.4% |
| Current investments | 50/53 | €477,840 | €278,268 | -€199,573 | -41.8% |
| Cash at bank and in hand | 54/58 | €463,114 | €531,757 | +€68,643 | +14.8% |
| Deferred charges and accrued income | 490/1 | €2,483 | €4,478 | +€1,995 | +80.4% |
| Total equity and liabilities | 10/49 | €17,457,431 | €18,091,520 | +€634,088 | +3.6% |
| Equity | 10/15 | €17,405,683 | €17,880,758 | +€475,075 | +2.7% |
| Contributions | 10/11 | €15,127,518 | €15,127,518 | = | 0.0% |
| Reserves | 13 | €1,112,993 | €1,588,063 | +€475,070 | +42.7% |
| Distributable reserves | 133 | €1,112,993 | €1,588,063 | +€475,070 | +42.7% |
| Profit (loss) carried forward | 14 | €1,165,172 | €1,165,177 | +€5 | 0.0% |
| Amounts payable | 17/49 | €51,748 | €210,762 | +€159,014 | +307% |
| Amounts payable within one year | 42/48 | €51,748 | €210,762 | +€159,014 | +307% |
| Trade debts | 44 | €4,478 | €10,462 | +€5,984 | +134% |
| Suppliers | 440/4 | €4,478 | €10,462 | +€5,984 | +134% |
| Taxes, remuneration and social security | 45 | €47,270 | €50,467 | +€3,198 | +6.8% |
| Taxes | 450/3 | €47,270 | €47,507 | +€237 | +0.5% |
| Remuneration and social security | 454/9 | - | €2,960 | +€2,960 | |
| Other amounts payable | 47/48 | - | €149,832 | +€149,832 | |
| Remuneration, social security and pensions | 62 | - | €4,596 | +€4,596 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,143 | €12,452 | +€10,309 | +481% |
| Other operating charges | 640/8 | €1,008 | €1,091 | +€84 | +8.3% |
| Gross operating margin | 9900 | €147,479 | €124,399 | -€23,080 | -15.6% |
| Operating profit (loss) | 9901 | €144,329 | €106,259 | -€38,070 | -26.4% |
| Financial income | 75/76B | €288,371 | €462,046 | +€173,675 | +60.2% |
| Recurring financial income | 75 | €288,371 | €462,046 | +€173,675 | +60.2% |
| Financial charges | 65/66B | €1,109 | €1,258 | +€149 | +13.5% |
| Recurring financial charges | 65 | €1,109 | €1,258 | +€149 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €431,591 | €567,047 | +€135,456 | +31.4% |
| Income taxes | 67/77 | €86,802 | €91,972 | +€5,171 | +6.0% |
| Profit (loss) for the period | 9904 | €344,789 | €475,075 | +€130,286 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €344,789 | €475,075 | +€130,286 | +37.8% |
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 3 November 2026 via checked.be.