MH-CREATION: what changed
Two fiscal 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-CREATION
Largest movements
- Cash -€115,330
down €115,330 (-96.4%), from €119,604 to €4,275
mainly Current investments (-€107,504) and Receivables within one year (-€20,760)
- Current investments +€107,504
new in 2025: €107,504
- Receivables within one year +€20,760
up €20,760 (+118.0%), from €17,595 to €38,355
of which Other amounts receivable: +€25,821
- Tangible fixed assets -€10,357
down €10,357 (-26.8%), from €38,574 to €28,217
- Receivables after one year -€6,184
no longer reported in 2025 (was €6,184)
- Reserves +€16,000
up €16,000 (+12.1%), from €132,340 to €148,340
- Other debts -€14,500
down €14,500 (-48.3%), from €30,000 to €15,500
- Trade debts +€11,118
up €11,118 (+256.4%), from €4,336 to €15,453
- Current portion of long-term debt -€6,914
down €6,914 (-67.5%), from €10,248 to €3,333
- Tax, wage and social debts -€3,480
down €3,480 (-52.5%), from €6,630 to €3,150
- Depreciation +€6,169
up €6,169 (+93.1%), from €6,626 to €12,796
- Taxes -€2,682
down €2,682 (-13.7%), from €19,538 to €16,856
- Gross operating margin -€2,564
down €2,564 (-4.0%), from €64,511 to €61,947
- Financial income +€932
up €932 (+166.2%), from €561 to €1,494
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.
Cash bridge derived
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 | €198,818 | €197,869 | -€950 | -0.5% |
| Fixed assets | 21/28 | €38,574 | €28,217 | -€10,357 | -26.8% |
| Tangible fixed assets | 22/27 | €38,574 | €28,217 | -€10,357 | -26.8% |
| Furniture and vehicles | 24 | €38,574 | €28,217 | -€10,357 | -26.8% |
| Current assets | 29/58 | €160,245 | €169,652 | +€9,407 | +5.9% |
| Amounts receivable after more than one year | 29 | €6,184 | - | -€6,184 | |
| Other amounts receivable | 291 | €6,184 | - | -€6,184 | |
| Amounts receivable within one year | 40/41 | €17,595 | €38,355 | +€20,760 | +118.0% |
| Trade receivables | 40 | €5,061 | - | -€5,061 | |
| Other amounts receivable | 41 | €12,534 | €38,355 | +€25,821 | +206.0% |
| Current investments | 50/53 | - | €107,504 | +€107,504 | |
| Cash at bank and in hand | 54/58 | €119,604 | €4,275 | -€115,330 | -96.4% |
| Deferred charges and accrued income | 490/1 | €16,862 | €19,518 | +€2,656 | +15.7% |
| Total equity and liabilities | 10/49 | €198,818 | €197,869 | -€950 | -0.5% |
| Equity | 10/15 | €139,881 | €156,132 | +€16,252 | +11.6% |
| Contributions | 10/11 | €6,255 | €6,255 | = | 0.0% |
| Outside capital | 11 | €6,255 | - | -€6,255 | |
| Share premium | 1100/10 | €6,255 | - | -€6,255 | |
| Reserves | 13 | €132,340 | €148,340 | +€16,000 | +12.1% |
| Non-distributable reserves | 130/1 | €132,340 | €148,340 | +€16,000 | +12.1% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €130,340 | €148,340 | +€18,000 | +13.8% |
| Profit (loss) carried forward | 14 | €1,286 | €1,537 | +€252 | +19.6% |
| Amounts payable | 17/49 | €58,938 | €41,736 | -€17,201 | -29.2% |
| Amounts payable after more than one year | 17 | €4,300 | €4,300 | = | 0.0% |
| Financial debts | 170/4 | €4,300 | €4,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,638 | €37,437 | -€17,201 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €10,248 | €3,333 | -€6,914 | -67.5% |
| Financial debts | 43 | €3,425 | - | -€3,425 | |
| Credit institutions | 430/8 | €3,425 | - | -€3,425 | |
| Trade debts | 44 | €4,336 | €15,453 | +€11,118 | +256.4% |
| Suppliers | 440/4 | €4,336 | €15,453 | +€11,118 | +256.4% |
| Taxes, remuneration and social security | 45 | €6,630 | €3,150 | -€3,480 | -52.5% |
| Taxes | 450/3 | €6,630 | €3,150 | -€3,480 | -52.5% |
| Other amounts payable | 47/48 | €30,000 | €15,500 | -€14,500 | -48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,626 | €12,796 | +€6,169 | +93.1% |
| Other operating charges | 640/8 | €1,760 | €1,480 | -€280 | -15.9% |
| Gross operating margin | 9900 | €64,511 | €61,947 | -€2,564 | -4.0% |
| Operating profit (loss) | 9901 | €56,125 | €47,672 | -€8,453 | -15.1% |
| Financial income | 75/76B | €561 | €1,494 | +€932 | +166.2% |
| Recurring financial income | 75 | €561 | €1,494 | +€932 | +166.2% |
| Financial charges | 65/66B | €821 | €557 | -€264 | -32.1% |
| Recurring financial charges | 65 | €821 | €557 | -€264 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €55,865 | €48,608 | -€7,257 | -13.0% |
| Income taxes | 67/77 | €19,538 | €16,856 | -€2,682 | -13.7% |
| Profit (loss) for the period | 9904 | €36,327 | €31,752 | -€4,575 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,327 | €31,752 | -€4,575 | -12.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.