MH CONSTRUCT: 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.
MH CONSTRUCT
Largest movements
- Receivables within one year -€6,729
down €6,729 (-4.3%), from €157,460 to €150,730
of which Other amounts receivable: -€15,213
- Cash -€2,628
down €2,628 (-62.9%), from €4,174 to €1,547
mainly Trade debts (-€41,230) and Short-term financial debts (-€10,332)
- Trade debts -€41,230
down €41,230 (-57.3%), from €71,985 to €30,756
- Other debts +€33,288
up €33,288 (+2,561%), from €1,300 to €34,588
- Short-term financial debts -€10,332
down €10,332 (-100%), from €10,332 to €0
- Tax, wage and social debts +€9,018
up €9,018 (+484%), from €1,861 to €10,879
of which Taxes: +€5,222
- Profit (loss) carried forward +€1,883
up €1,883 (+2.7%), from €69,752 to €71,635
- Turnover -€104,914
down €104,914 (-24.7%), from €424,614 to €319,700
- Purchases and services -€92,083
down €92,083 (-24.2%), from €379,828 to €287,745
- Staff costs -€22,354
down €22,354 (-55.7%), from €40,118 to €17,763
- Gross operating margin -€17,941
down €17,941 (-33.9%), from €52,878 to €34,937
- Other operating charges +€6,642
up €6,642 (+874%), from €760 to €7,402
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 | €163,291 | €155,918 | -€7,373 | -4.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,487 | €3,091 | +€1,604 | +108% |
| Tangible fixed assets | 22/27 | €1,412 | €3,016 | +€1,604 | +114% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,412 | €3,016 | +€1,604 | +114% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €161,804 | €152,827 | -€8,977 | -5.5% |
| Amounts receivable within one year | 40/41 | €157,460 | €150,730 | -€6,729 | -4.3% |
| Trade receivables | 40 | €140,310 | €148,794 | +€8,484 | +6.0% |
| Other amounts receivable | 41 | €17,150 | €1,936 | -€15,213 | -88.7% |
| Cash at bank and in hand | 54/58 | €4,174 | €1,547 | -€2,628 | -62.9% |
| Deferred charges and accrued income | 490/1 | €171 | €550 | +€380 | +223% |
| Total equity and liabilities | 10/49 | €163,291 | €155,918 | -€7,373 | -4.5% |
| Equity | 10/15 | €77,812 | €79,695 | +€1,883 | +2.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,752 | €71,635 | +€1,883 | +2.7% |
| Amounts payable | 17/49 | €85,479 | €76,223 | -€9,256 | -10.8% |
| Amounts payable within one year | 42/48 | €85,479 | €76,223 | -€9,256 | -10.8% |
| Financial debts | 43 | €10,332 | €0 | -€10,332 | -100% |
| Credit institutions | 430/8 | €10,332 | €0 | -€10,332 | -100% |
| Trade debts | 44 | €71,985 | €30,756 | -€41,230 | -57.3% |
| Suppliers | 440/4 | €71,985 | €30,756 | -€41,230 | -57.3% |
| Taxes, remuneration and social security | 45 | €1,861 | €10,879 | +€9,018 | +484% |
| Taxes | 450/3 | €1,861 | €7,083 | +€5,222 | +281% |
| Remuneration and social security | 454/9 | €0 | €3,796 | +€3,796 | |
| Other amounts payable | 47/48 | €1,300 | €34,588 | +€33,288 | +2,561% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €424,614 | €319,700 | -€104,914 | -24.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €379,828 | €287,745 | -€92,083 | -24.2% |
| Remuneration, social security and pensions | 62 | €40,118 | €17,763 | -€22,354 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,790 | €1,586 | -€204 | -11.4% |
| Other operating charges | 640/8 | €760 | €7,402 | +€6,642 | +874% |
| Gross operating margin | 9900 | €52,878 | €34,937 | -€17,941 | -33.9% |
| Operating profit (loss) | 9901 | €10,210 | €8,185 | -€2,025 | -19.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +250% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +250% |
| Financial charges | 65/66B | €3,205 | €4,342 | +€1,137 | +35.5% |
| Recurring financial charges | 65 | €3,205 | €4,342 | +€1,137 | +35.5% |
| Profit (loss) for the period before taxes | 9903 | €7,005 | €3,844 | -€3,161 | -45.1% |
| Income taxes | 67/77 | €1,861 | €1,961 | +€100 | +5.4% |
| Profit (loss) for the period | 9904 | €5,144 | €1,883 | -€3,261 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,144 | €1,883 | -€3,261 | -63.4% |
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 13 October 2026 via checked.be.