MHA PROJECTS: 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.
MHA PROJECTS
Largest movements
- Tangible fixed assets -€1,800
down €1,800 (-34.2%), from €5,262 to €3,462
- Cash +€407
up €407 (+3070.9%), from €13 to €420
mainly Depreciation (+€1,800) and Other debts (+€1,374)
- Reserves -€2,767
down €2,767 (-17.0%), from €16,305 to €13,538
- Other debts +€1,374
up €1,374 (+16.2%), from €8,471 to €9,844
- Financial charges -€249
down €249 (-78.0%), from €319 to €70
- Gross operating margin -€187
down €187 (-28.8%), from -€649 to -€835
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 | €30,275 | €28,882 | -€1,393 | -4.6% |
| Fixed assets | 21/28 | €30,262 | €28,462 | -€1,800 | -5.9% |
| Tangible fixed assets | 22/27 | €5,262 | €3,462 | -€1,800 | -34.2% |
| Furniture and vehicles | 24 | €5,262 | €3,462 | -€1,800 | -34.2% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €13 | €420 | +€407 | +3070.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €13 | €420 | +€407 | +3070.9% |
| Total equity and liabilities | 10/49 | €30,275 | €28,882 | -€1,393 | -4.6% |
| Equity | 10/15 | €21,305 | €18,538 | -€2,767 | -13.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,305 | €13,538 | -€2,767 | -17.0% |
| Distributable reserves | 133 | €16,305 | €13,538 | -€2,767 | -17.0% |
| Amounts payable | 17/49 | €8,971 | €10,344 | +€1,374 | +15.3% |
| Amounts payable within one year | 42/48 | €8,471 | €9,844 | +€1,374 | +16.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,471 | €9,844 | +€1,374 | +16.2% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,800 | €1,800 | = | 0.0% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | -€649 | -€835 | -€187 | -28.8% |
| Operating profit (loss) | 9901 | -€2,511 | -€2,697 | -€187 | -7.4% |
| Financial charges | 65/66B | €319 | €70 | -€249 | -78.0% |
| Recurring financial charges | 65 | €319 | €70 | -€249 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,829 | -€2,767 | +€62 | +2.2% |
| Profit (loss) for the period | 9904 | -€2,829 | -€2,767 | +€62 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,829 | -€2,767 | +€62 | +2.2% |
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 7 October 2026 via checked.be.