MH VISION: 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 VISION
Largest movements
- Cash +€113,621
up €113,621 (+400%), from €28,430 to €142,051
mainly Current investments (+€100,000) and Depreciation (+€23,954)
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Tangible fixed assets -€8,995
down €8,995 (-4.7%), from €192,322 to €183,327
of which Land and buildings: -€10,298
- Stocks and contracts -€8,280
down €8,280 (-20.4%), from €40,624 to €32,344
- Receivables within one year -€5,389
down €5,389 (-54.6%), from €9,871 to €4,482
- Current portion of long-term debt -€9,922
down €9,922 (-100%), from €9,922 to €0
- Tax, wage and social debts +€7,232
up €7,232 (+55.1%), from €13,123 to €20,356
of which Taxes: +€4,532
- Financial charges -€1,645
down €1,645 (-40.9%), from €4,024 to €2,379
of which Financial charges: -€902
- Other operating charges +€1,608
up €1,608 (+43.7%), from €3,676 to €5,283
- Financial income -€1,351
down €1,351 (-35.9%), from €3,762 to €2,411
of which Financial income: -€1,280
- Taxes -€853
down €853 (-7.1%), from €12,038 to €11,185
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 | €371,906 | €365,079 | -€6,828 | -1.8% |
| Fixed assets | 21/28 | €192,345 | €183,327 | -€9,017 | -4.7% |
| Intangible fixed assets | 21 | €22 | €0 | -€22 | -100% |
| Tangible fixed assets | 22/27 | €192,322 | €183,327 | -€8,995 | -4.7% |
| Land and buildings | 22 | €144,990 | €134,691 | -€10,298 | -7.1% |
| Plant, machinery and equipment | 23 | €40,916 | €38,089 | -€2,827 | -6.9% |
| Furniture and vehicles | 24 | €269 | €10,547 | +€10,278 | +3,825% |
| Leasing and similar rights | 25 | €4,396 | €0 | -€4,396 | -100% |
| Assets under construction and advance payments | 27 | €1,752 | €0 | -€1,752 | -100% |
| Current assets | 29/58 | €179,562 | €181,752 | +€2,190 | +1.2% |
| Stocks and contracts in progress | 3 | €40,624 | €32,344 | -€8,280 | -20.4% |
| Stocks | 30/36 | €40,624 | €32,344 | -€8,280 | -20.4% |
| Amounts receivable within one year | 40/41 | €9,871 | €4,482 | -€5,389 | -54.6% |
| Trade receivables | 40 | €9,871 | €4,482 | -€5,389 | -54.6% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €28,430 | €142,051 | +€113,621 | +400% |
| Deferred charges and accrued income | 490/1 | €637 | €2,874 | +€2,238 | +352% |
| Total equity and liabilities | 10/49 | €371,906 | €365,079 | -€6,828 | -1.8% |
| Equity | 10/15 | €269,909 | €269,639 | -€270 | -0.1% |
| Contributions | 10/11 | €15,800 | €15,800 | = | 0.0% |
| Reserves | 13 | €245,770 | €245,270 | -€500 | -0.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €243,910 | €243,410 | -€500 | -0.2% |
| Profit (loss) carried forward | 14 | €8,339 | €8,569 | +€230 | +2.8% |
| Amounts payable | 17/49 | €101,998 | €95,440 | -€6,557 | -6.4% |
| Amounts payable within one year | 42/48 | €101,998 | €95,440 | -€6,557 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €9,922 | €0 | -€9,922 | -100% |
| Trade debts | 44 | €32,922 | €29,441 | -€3,481 | -10.6% |
| Suppliers | 440/4 | €32,922 | €29,441 | -€3,481 | -10.6% |
| Taxes, remuneration and social security | 45 | €13,123 | €20,356 | +€7,232 | +55.1% |
| Taxes | 450/3 | €13,123 | €17,656 | +€4,532 | +34.5% |
| Remuneration and social security | 454/9 | - | €2,700 | +€2,700 | |
| Other amounts payable | 47/48 | €46,031 | €45,643 | -€387 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,580 | €23,954 | +€374 | +1.6% |
| Other operating charges | 640/8 | €3,676 | €5,283 | +€1,608 | +43.7% |
| Non-recurring operating charges | 66A | €63 | €90 | +€27 | +42.6% |
| Gross operating margin | 9900 | €60,024 | €60,210 | +€186 | +0.3% |
| Operating profit (loss) | 9901 | €32,705 | €30,883 | -€1,823 | -5.6% |
| Financial income | 75/76B | €3,762 | €2,411 | -€1,351 | -35.9% |
| Recurring financial income | 75 | €3,691 | €2,411 | -€1,280 | -34.7% |
| Non-recurring financial income | 76B | €71 | - | -€71 | |
| Financial charges | 65/66B | €4,024 | €2,379 | -€1,645 | -40.9% |
| Recurring financial charges | 65 | €3,281 | €2,379 | -€902 | -27.5% |
| Non-recurring financial charges | 66B | €743 | - | -€743 | |
| Profit (loss) for the period before taxes | 9903 | €32,443 | €30,915 | -€1,528 | -4.7% |
| Income taxes | 67/77 | €12,038 | €11,185 | -€853 | -7.1% |
| Profit (loss) for the period | 9904 | €20,406 | €19,730 | -€676 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,406 | €19,730 | -€676 | -3.3% |
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 15 October 2026 via checked.be.