MH GROEP: 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 GROEP
Largest movements
- Tangible fixed assets -€465,367
no longer reported in 2025 (was €465,367)
- Stocks and contracts +€317,975
new in 2025: €317,975
- Cash +€158,270
up €158,270 (+2,809%), from €5,634 to €163,905
mainly Investment in fixed assets (net) (+€465,367) and Other debts (+€180,000)
- Receivables within one year +€94,557
new in 2025: €94,557
- Other debts +€180,000
up €180,000 (+69.4%), from €259,500 to €439,500
- Debts after one year -€75,001
down €75,001 (-37.5%), from €200,001 to €125,000
- Gross operating margin +€2,413
up €2,413 (+27.4%), from €8,795 to €11,208
- Financial charges -€1,865
down €1,865 (-26.7%), from €6,988 to €5,122
- Taxes +€1,183
new in 2025: €1,183
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 | €471,001 | €576,437 | +€105,435 | +22.4% |
| Fixed assets | 21/28 | €465,367 | - | -€465,367 | |
| Tangible fixed assets | 22/27 | €465,367 | - | -€465,367 | |
| Land and buildings | 22 | €465,367 | - | -€465,367 | |
| Current assets | 29/58 | €5,634 | €576,437 | +€570,802 | +10,131% |
| Stocks and contracts in progress | 3 | - | €317,975 | +€317,975 | |
| Stocks | 30/36 | - | €317,975 | +€317,975 | |
| Amounts receivable within one year | 40/41 | - | €94,557 | +€94,557 | |
| Other amounts receivable | 41 | - | €94,557 | +€94,557 | |
| Cash at bank and in hand | 54/58 | €5,634 | €163,905 | +€158,270 | +2,809% |
| Total equity and liabilities | 10/49 | €471,001 | €576,437 | +€105,435 | +22.4% |
| Equity | 10/15 | €8,109 | €10,753 | +€2,645 | +32.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €5,753 | +€5,753 | |
| Distributable reserves | 133 | - | €5,753 | +€5,753 | |
| Profit (loss) carried forward | 14 | €3,109 | - | -€3,109 | |
| Amounts payable | 17/49 | €462,893 | €565,683 | +€102,791 | +22.2% |
| Amounts payable after more than one year | 17 | €200,001 | €125,000 | -€75,001 | -37.5% |
| Financial debts | 170/4 | €200,001 | €125,000 | -€75,001 | -37.5% |
| Amounts payable within one year | 42/48 | €262,892 | €440,683 | +€177,792 | +67.6% |
| Trade debts | 44 | €1,892 | - | -€1,892 | |
| Suppliers | 440/4 | €1,892 | - | -€1,892 | |
| Taxes, remuneration and social security | 45 | €1,500 | €1,183 | -€317 | -21.1% |
| Taxes | 450/3 | €1,500 | €1,183 | -€317 | -21.1% |
| Other amounts payable | 47/48 | €259,500 | €439,500 | +€180,000 | +69.4% |
| Other operating charges | 640/8 | €118 | €170 | +€52 | +44.1% |
| Gross operating margin | 9900 | €8,795 | €11,208 | +€2,413 | +27.4% |
| Operating profit (loss) | 9901 | €8,677 | €11,038 | +€2,361 | +27.2% |
| Financial charges | 65/66B | €6,988 | €5,122 | -€1,865 | -26.7% |
| Recurring financial charges | 65 | €6,988 | €5,122 | -€1,865 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €1,690 | €5,916 | +€4,226 | +250% |
| Income taxes | 67/77 | - | €1,183 | +€1,183 | |
| Profit (loss) for the period | 9904 | €1,690 | €4,733 | +€3,043 | +180% |
| Profit (loss) for the period to be appropriated | 9905 | €1,690 | €4,733 | +€3,043 | +180% |
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 16 October 2026 via checked.be.