MHLANTHIER: 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.
MHLANTHIER
Largest movements
- Intangible fixed assets -€15,000
down €15,000 (-19.7%), from €76,250 to €61,250
- Tangible fixed assets -€9,520
down €9,520 (-24.8%), from €38,440 to €28,921
of which Furniture and vehicles: -€9,944
- Cash +€9,394
up €9,394 (+70.6%), from €13,315 to €22,709
mainly Net result for the year (+€58,455) and Depreciation (+€25,469)
- Receivables within one year +€1,581
up €1,581 (+59.1%), from €2,676 to €4,257
- Debts after one year -€13,442
no longer reported in 2025 (was €13,442)
- Profit (loss) carried forward -€5,545
down €5,545 (-8.6%), from €64,693 to €59,149
- Other debts +€5,406
up €5,406 (+13.8%), from €39,269 to €44,675
- Gross operating margin -€9,550
down €9,550 (-8.5%), from €112,451 to €102,901
- Taxes -€1,581
down €1,581 (-8.6%), from €18,324 to €16,743
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 | €135,281 | €120,922 | -€14,359 | -10.6% |
| Fixed assets | 21/28 | €114,795 | €90,276 | -€24,520 | -21.4% |
| Intangible fixed assets | 21 | €76,250 | €61,250 | -€15,000 | -19.7% |
| Tangible fixed assets | 22/27 | €38,440 | €28,921 | -€9,520 | -24.8% |
| Plant, machinery and equipment | 23 | - | €866 | +€866 | |
| Furniture and vehicles | 24 | €36,483 | €26,540 | -€9,944 | -27.3% |
| Other tangible fixed assets | 26 | €1,957 | €1,515 | -€442 | -22.6% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €20,486 | €30,647 | +€10,161 | +49.6% |
| Amounts receivable within one year | 40/41 | €2,676 | €4,257 | +€1,581 | +59.1% |
| Other amounts receivable | 41 | €2,676 | €4,257 | +€1,581 | +59.1% |
| Cash at bank and in hand | 54/58 | €13,315 | €22,709 | +€9,394 | +70.6% |
| Deferred charges and accrued income | 490/1 | €4,495 | €3,681 | -€814 | -18.1% |
| Total equity and liabilities | 10/49 | €135,281 | €120,922 | -€14,359 | -10.6% |
| Equity | 10/15 | €67,193 | €61,649 | -€5,545 | -8.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,693 | €59,149 | -€5,545 | -8.6% |
| Amounts payable | 17/49 | €68,088 | €59,273 | -€8,815 | -12.9% |
| Amounts payable after more than one year | 17 | €13,442 | - | -€13,442 | |
| Financial debts | 170/4 | €13,442 | - | -€13,442 | |
| Amounts payable within one year | 42/48 | €54,646 | €59,273 | +€4,627 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €14,043 | €13,442 | -€602 | -4.3% |
| Trade debts | 44 | €1,334 | €1,156 | -€178 | -13.3% |
| Suppliers | 440/4 | €1,334 | €1,156 | -€178 | -13.3% |
| Other amounts payable | 47/48 | €39,269 | €44,675 | +€5,406 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,647 | €25,469 | -€178 | -0.7% |
| Other operating charges | 640/8 | €1,809 | €696 | -€1,113 | -61.5% |
| Gross operating margin | 9900 | €112,451 | €102,901 | -€9,550 | -8.5% |
| Operating profit (loss) | 9901 | €84,996 | €76,736 | -€8,259 | -9.7% |
| Financial charges | 65/66B | €2,202 | €1,538 | -€665 | -30.2% |
| Recurring financial charges | 65 | €2,202 | €1,538 | -€665 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €82,793 | €75,198 | -€7,595 | -9.2% |
| Income taxes | 67/77 | €18,324 | €16,743 | -€1,581 | -8.6% |
| Profit (loss) for the period | 9904 | €64,469 | €58,455 | -€6,014 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,469 | €58,455 | -€6,014 | -9.3% |
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 29 September 2026 via checked.be.