MH FINANCES: 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 FINANCES
Largest movements
- Cash +€102,105
up €102,105 (+33.7%), from €303,139 to €405,244
mainly Net result for the year (+€110,621) and Receivables within one year (+€44,444)
- Receivables within one year -€44,444
down €44,444 (-61.7%), from €72,016 to €27,572
of which Other amounts receivable: -€46,079
- Current investments +€9,035
up €9,035 (+16.8%), from €53,750 to €62,785
- Reserves +€56,100
up €56,100 (+15.7%), from €356,800 to €412,900
of which Distributable reserves: +€56,100
- Tax, wage and social debts +€30,148
up €30,148 (+93.5%), from €32,249 to €62,397
of which Taxes: +€26,228
- Other debts +€27,467
up €27,467 (+49.2%), from €55,881 to €83,348
- Debts after one year -€18,015
down €18,015 (-20.1%), from €89,587 to €71,573
- Contributions -€12,300
down €12,300 (-99.2%), from €12,400 to €100
- Gross operating margin -€24,773
down €24,773 (-8.4%), from €295,711 to €270,938
- Taxes -€11,278
down €11,278 (-18.4%), from €61,212 to €49,934
- Financial income -€5,223
down €5,223 (-61.5%), from €8,493 to €3,270
- Other operating charges -€3,013
down €3,013 (-51.8%), from €5,818 to €2,804
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 | €644,029 | €712,061 | +€68,031 | +10.6% |
| Fixed assets | 21/28 | €210,446 | €208,112 | -€2,334 | -1.1% |
| Intangible fixed assets | 21 | €9,196 | €6,646 | -€2,550 | -27.7% |
| Tangible fixed assets | 22/27 | €197,813 | €196,463 | -€1,350 | -0.7% |
| Furniture and vehicles | 24 | €2,568 | €792 | -€1,776 | -69.2% |
| Other tangible fixed assets | 26 | €195,245 | €195,671 | +€427 | +0.2% |
| Financial fixed assets | 28 | €3,437 | €5,003 | +€1,566 | +45.6% |
| Current assets | 29/58 | €433,583 | €503,948 | +€70,365 | +16.2% |
| Amounts receivable within one year | 40/41 | €72,016 | €27,572 | -€44,444 | -61.7% |
| Trade receivables | 40 | €24,883 | €26,518 | +€1,635 | +6.6% |
| Other amounts receivable | 41 | €47,133 | €1,054 | -€46,079 | -97.8% |
| Current investments | 50/53 | €53,750 | €62,785 | +€9,035 | +16.8% |
| Cash at bank and in hand | 54/58 | €303,139 | €405,244 | +€102,105 | +33.7% |
| Deferred charges and accrued income | 490/1 | €4,679 | €8,348 | +€3,669 | +78.4% |
| Total equity and liabilities | 10/49 | €644,029 | €712,061 | +€68,031 | +10.6% |
| Equity | 10/15 | €369,200 | €413,000 | +€43,800 | +11.9% |
| Contributions | 10/11 | €12,400 | €100 | -€12,300 | -99.2% |
| Reserves | 13 | €356,800 | €412,900 | +€56,100 | +15.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €356,800 | €412,900 | +€56,100 | +15.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €274,829 | €299,061 | +€24,231 | +8.8% |
| Amounts payable after more than one year | 17 | €89,587 | €71,573 | -€18,015 | -20.1% |
| Financial debts | 170/4 | €89,587 | €71,573 | -€18,015 | -20.1% |
| Amounts payable within one year | 42/48 | €185,242 | €227,432 | +€42,191 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €23,378 | €18,015 | -€5,363 | -22.9% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €23,735 | €13,673 | -€10,062 | -42.4% |
| Suppliers | 440/4 | €23,735 | €13,673 | -€10,062 | -42.4% |
| Taxes, remuneration and social security | 45 | €32,249 | €62,397 | +€30,148 | +93.5% |
| Taxes | 450/3 | €26,686 | €52,914 | +€26,228 | +98.3% |
| Remuneration and social security | 454/9 | €5,563 | €9,483 | +€3,920 | +70.5% |
| Other amounts payable | 47/48 | €55,881 | €83,348 | +€27,467 | +49.2% |
| Accrued charges and deferred income | 492/3 | €0 | €56 | +€56 | |
| Remuneration, social security and pensions | 62 | €46,930 | €48,791 | +€1,861 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,399 | €6,709 | -€1,690 | -20.1% |
| Other operating charges | 640/8 | €5,818 | €2,804 | -€3,013 | -51.8% |
| Non-recurring operating charges | 66A | €591 | €0 | -€591 | -100% |
| Gross operating margin | 9900 | €295,711 | €270,938 | -€24,773 | -8.4% |
| Operating profit (loss) | 9901 | €233,974 | €212,634 | -€21,340 | -9.1% |
| Financial income | 75/76B | €8,493 | €3,270 | -€5,223 | -61.5% |
| Recurring financial income | 75 | €8,493 | €3,270 | -€5,223 | -61.5% |
| Financial charges | 65/66B | €53,717 | €55,348 | +€1,631 | +3.0% |
| Recurring financial charges | 65 | €53,717 | €55,348 | +€1,631 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €188,749 | €160,556 | -€28,193 | -14.9% |
| Income taxes | 67/77 | €61,212 | €49,934 | -€11,278 | -18.4% |
| Profit (loss) for the period | 9904 | €127,537 | €110,621 | -€16,915 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €127,537 | €110,621 | -€16,915 | -13.3% |
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 18 October 2026 via checked.be.