MHN PROJECT: 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.
MHN PROJECT
Largest movements
- Cash -€104,849
down €104,849 (-87.4%), from €119,932 to €15,083
mainly Trade debts (-€78,748) and Receivables within one year (-€15,697)
- Receivables within one year +€15,697
up €15,697 (+53.9%), from €29,097 to €44,793
of which Trade receivables: +€18,997
- Trade debts -€78,748
down €78,748 (-91.0%), from €86,512 to €7,764
- Advances received -€13,261
no longer reported in 2024 (was €13,261)
- Other debts +€10,285
up €10,285 (+4186.1%), from €246 to €10,531
- Tax, wage and social debts -€8,782
down €8,782 (-26.1%), from €33,668 to €24,886
of which Taxes: -€13,791
- Purchases and services +€13,661
up €13,661 (+7.1%), from €192,065 to €205,726
- Staff costs +€4,641
up €4,641 (+16.8%), from €27,628 to €32,269
- Gross operating margin +€997
up €997 (+2.9%), from €33,939 to €34,936
- Taxes +€563
new in 2024: €563
- Financial income -€463
down €463 (-66.7%), from €694 to €231
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €150,498 | €60,276 | -€90,222 | -59.9% |
| Fixed assets | 21/28 | €1,470 | €400 | -€1,070 | -72.8% |
| Tangible fixed assets | 22/27 | €1,410 | €340 | -€1,070 | -75.9% |
| Furniture and vehicles | 24 | €1,410 | €340 | -€1,070 | -75.9% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €149,028 | €59,876 | -€89,152 | -59.8% |
| Amounts receivable within one year | 40/41 | €29,097 | €44,793 | +€15,697 | +53.9% |
| Trade receivables | 40 | €1,697 | €20,693 | +€18,997 | +1119.7% |
| Other amounts receivable | 41 | €27,400 | €24,100 | -€3,300 | -12.0% |
| Cash at bank and in hand | 54/58 | €119,932 | €15,083 | -€104,849 | -87.4% |
| Total equity and liabilities | 10/49 | €150,498 | €60,276 | -€90,222 | -59.9% |
| Equity | 10/15 | €16,811 | €17,095 | +€284 | +1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Share premium | 1100/10 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,411 | €4,695 | +€284 | +6.4% |
| Amounts payable | 17/49 | €133,687 | €43,182 | -€90,506 | -67.7% |
| Amounts payable within one year | 42/48 | €133,687 | €43,182 | -€90,506 | -67.7% |
| Trade debts | 44 | €86,512 | €7,764 | -€78,748 | -91.0% |
| Suppliers | 440/4 | €86,512 | €7,764 | -€78,748 | -91.0% |
| Advances received on contracts in progress | 46 | €13,261 | - | -€13,261 | |
| Taxes, remuneration and social security | 45 | €33,668 | €24,886 | -€8,782 | -26.1% |
| Taxes | 450/3 | €21,966 | €8,175 | -€13,791 | -62.8% |
| Remuneration and social security | 454/9 | €11,703 | €16,712 | +€5,009 | +42.8% |
| Other amounts payable | 47/48 | €246 | €10,531 | +€10,285 | +4186.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €192,065 | €205,726 | +€13,661 | +7.1% |
| Remuneration, social security and pensions | 62 | €27,628 | €32,269 | +€4,641 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,070 | €1,070 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €405 | +€20 | +5.2% |
| Gross operating margin | 9900 | €33,939 | €34,936 | +€997 | +2.9% |
| Operating profit (loss) | 9901 | €4,856 | €1,193 | -€3,664 | -75.4% |
| Financial income | 75/76B | €694 | €231 | -€463 | -66.7% |
| Recurring financial income | 75 | €694 | €231 | -€463 | -66.7% |
| Financial charges | 65/66B | €432 | €577 | +€145 | +33.6% |
| Recurring financial charges | 65 | €432 | €577 | +€145 | +33.6% |
| Profit (loss) for the period before taxes | 9903 | €5,119 | €847 | -€4,272 | -83.5% |
| Income taxes | 67/77 | - | €563 | +€563 | |
| Profit (loss) for the period | 9904 | €5,119 | €284 | -€4,835 | -94.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,119 | €284 | -€4,835 | -94.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.