MHD Service: 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.
MHD Service
Largest movements
- Cash +€27,282
up €27,282 (+41.6%), from €65,553 to €92,835
mainly Net result for the year (+€24,901) and Depreciation (+€14,706)
- Receivables within one year +€23,837
up €23,837 (+730%), from €3,267 to €27,104
- Tangible fixed assets -€23,594
down €23,594 (-57.4%), from €41,128 to €17,534
- Profit (loss) carried forward +€23,268
up €23,268 (+35.6%), from €65,405 to €88,673
- Tax, wage and social debts +€11,871
up €11,871 (+64.3%), from €18,459 to €30,330
of which Taxes: +€13,118
- Debts after one year -€7,074
down €7,074 (-63.2%), from €11,200 to €4,126
- Gross operating margin -€9,746
down €9,746 (-17.8%), from €54,681 to €44,935
- Financial income +€6,247
new in 2025: €6,247
- Depreciation -€1,847
down €1,847 (-11.2%), from €16,553 to €14,706
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 | €109,948 | €137,473 | +€27,525 | +25.0% |
| Fixed assets | 21/28 | €41,128 | €17,534 | -€23,594 | -57.4% |
| Tangible fixed assets | 22/27 | €41,128 | €17,534 | -€23,594 | -57.4% |
| Furniture and vehicles | 24 | €41,128 | €17,534 | -€23,594 | -57.4% |
| Current assets | 29/58 | €68,820 | €119,939 | +€51,119 | +74.3% |
| Amounts receivable within one year | 40/41 | €3,267 | €27,104 | +€23,837 | +730% |
| Trade receivables | 40 | €3,267 | €27,104 | +€23,837 | +730% |
| Cash at bank and in hand | 54/58 | €65,553 | €92,835 | +€27,282 | +41.6% |
| Total equity and liabilities | 10/49 | €109,948 | €137,473 | +€27,525 | +25.0% |
| Equity | 10/15 | €67,405 | €90,673 | +€23,268 | +34.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,405 | €88,673 | +€23,268 | +35.6% |
| Amounts payable | 17/49 | €42,543 | €46,800 | +€4,257 | +10.0% |
| Amounts payable after more than one year | 17 | €11,200 | €4,126 | -€7,074 | -63.2% |
| Financial debts | 170/4 | €11,200 | €4,126 | -€7,074 | -63.2% |
| Amounts payable within one year | 42/48 | €31,343 | €42,674 | +€11,331 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €7,074 | €7,074 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,459 | €30,330 | +€11,871 | +64.3% |
| Taxes | 450/3 | €16,635 | €29,753 | +€13,118 | +78.9% |
| Remuneration and social security | 454/9 | €1,824 | €577 | -€1,247 | -68.4% |
| Other amounts payable | 47/48 | €5,810 | €5,270 | -€540 | -9.3% |
| Remuneration, social security and pensions | 62 | €144 | - | -€144 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,553 | €14,706 | -€1,847 | -11.2% |
| Other operating charges | 640/8 | €1,483 | €980 | -€503 | -33.9% |
| Non-recurring operating charges | 66A | - | €2,028 | +€2,028 | |
| Gross operating margin | 9900 | €54,681 | €44,935 | -€9,746 | -17.8% |
| Operating profit (loss) | 9901 | €36,501 | €27,221 | -€9,280 | -25.4% |
| Financial income | 75/76B | - | €6,247 | +€6,247 | |
| Recurring financial income | 75 | - | €6,247 | +€6,247 | |
| Financial charges | 65/66B | €74 | €139 | +€65 | +87.8% |
| Recurring financial charges | 65 | €74 | €139 | +€65 | +87.8% |
| Profit (loss) for the period before taxes | 9903 | €36,427 | €33,329 | -€3,098 | -8.5% |
| Income taxes | 67/77 | €8,668 | €8,428 | -€240 | -2.8% |
| Profit (loss) for the period | 9904 | €27,759 | €24,901 | -€2,858 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,759 | €24,901 | -€2,858 | -10.3% |
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 22 October 2026 via checked.be.