MHC: 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.
MHC
Largest movements
- Current investments +€111,772
up €111,772 (+15.4%), from €725,355 to €837,127
- Cash +€57,456
up €57,456 (+57.7%), from €99,595 to €157,051
mainly Net result for the year (+€222,443) and Tax, wage and social debts (+€38,406)
- Receivables within one year -€29,703
down €29,703 (-45.2%), from €65,683 to €35,980
of which Other amounts receivable: -€40,000
- Tangible fixed assets +€26,279
up €26,279 (+5.2%), from €504,434 to €530,713
of which Furniture and vehicles: +€36,668
- Reserves +€120,631
up €120,631 (+16.3%), from €738,591 to €859,222
of which Distributable reserves: +€120,631
- Tax, wage and social debts +€38,406
up €38,406 (+158.1%), from €24,296 to €62,702
- Gross operating margin +€88,112
up €88,112 (+36.3%), from €242,527 to €330,639
- Taxes +€11,765
up €11,765 (+13.9%), from €84,379 to €96,143
- Other operating charges -€8,156
down €8,156 (-80.2%), from €10,167 to €2,010
- Depreciation +€7,859
up €7,859 (+71.3%), from €11,029 to €18,888
- Financial income +€5,248
up €5,248 (+118.5%), from €4,429 to €9,676
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 | €1,396,485 | €1,560,889 | +€164,404 | +11.8% |
| Fixed assets | 21/28 | €504,453 | €530,731 | +€26,279 | +5.2% |
| Tangible fixed assets | 22/27 | €504,434 | €530,713 | +€26,279 | +5.2% |
| Land and buildings | 22 | €503,156 | €492,766 | -€10,390 | -2.1% |
| Furniture and vehicles | 24 | €1,278 | €37,946 | +€36,668 | +2869.0% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €892,032 | €1,030,158 | +€138,126 | +15.5% |
| Amounts receivable within one year | 40/41 | €65,683 | €35,980 | -€29,703 | -45.2% |
| Trade receivables | 40 | €25,683 | €35,980 | +€10,297 | +40.1% |
| Other amounts receivable | 41 | €40,000 | - | -€40,000 | |
| Current investments | 50/53 | €725,355 | €837,127 | +€111,772 | +15.4% |
| Cash at bank and in hand | 54/58 | €99,595 | €157,051 | +€57,456 | +57.7% |
| Deferred charges and accrued income | 490/1 | €1,400 | - | -€1,400 | |
| Total equity and liabilities | 10/49 | €1,396,485 | €1,560,889 | +€164,404 | +11.8% |
| Equity | 10/15 | €1,273,938 | €1,394,569 | +€120,631 | +9.5% |
| Contributions | 10/11 | €62,403 | €62,403 | = | 0.0% |
| Reserves | 13 | €738,591 | €859,222 | +€120,631 | +16.3% |
| Tax-exempt reserves | 132 | €14,600 | €14,600 | = | 0.0% |
| Distributable reserves | 133 | €723,991 | €844,622 | +€120,631 | +16.7% |
| Profit (loss) carried forward | 14 | €472,945 | €472,945 | = | 0.0% |
| Provisions and deferred taxes | 16 | €87,257 | €87,257 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €87,257 | €87,257 | = | 0.0% |
| Pensions and similar obligations | 160 | €87,257 | €87,257 | = | 0.0% |
| Amounts payable | 17/49 | €35,290 | €79,063 | +€43,773 | +124.0% |
| Amounts payable within one year | 42/48 | €34,422 | €78,195 | +€43,773 | +127.2% |
| Trade debts | 44 | €339 | €751 | +€411 | +121.1% |
| Suppliers | 440/4 | €339 | €751 | +€411 | +121.1% |
| Taxes, remuneration and social security | 45 | €24,296 | €62,702 | +€38,406 | +158.1% |
| Taxes | 450/3 | €24,296 | €62,702 | +€38,406 | +158.1% |
| Other amounts payable | 47/48 | €9,786 | €14,742 | +€4,956 | +50.6% |
| Accrued charges and deferred income | 492/3 | €868 | €868 | = | 0.0% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,029 | €18,888 | +€7,859 | +71.3% |
| Other operating charges | 640/8 | €10,167 | €2,010 | -€8,156 | -80.2% |
| Gross operating margin | 9900 | €242,527 | €330,639 | +€88,112 | +36.3% |
| Operating profit (loss) | 9901 | €221,331 | €309,740 | +€88,409 | +39.9% |
| Financial income | 75/76B | €4,429 | €9,676 | +€5,248 | +118.5% |
| Recurring financial income | 75 | €4,429 | €9,676 | +€5,248 | +118.5% |
| Financial charges | 65/66B | €1,083 | €831 | -€252 | -23.3% |
| Recurring financial charges | 65 | €1,083 | €831 | -€252 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €224,677 | €318,586 | +€93,909 | +41.8% |
| Income taxes | 67/77 | €84,379 | €96,143 | +€11,765 | +13.9% |
| Profit (loss) for the period | 9904 | €140,299 | €222,443 | +€82,144 | +58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €140,299 | €222,443 | +€82,144 | +58.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.