MHNUC: 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.
MHNUC
Largest movements
- Cash +€20,185
up €20,185 (+26.4%), from €76,438 to €96,623
mainly Debts after one year (+€137,918) and Net result for the year (+€116,815)
- Current investments -€11,000
down €11,000 (-8.0%), from €137,797 to €126,798
- Tangible fixed assets -€9,987
down €9,987 (-17.5%), from €57,033 to €47,046
of which Leasing and similar rights: -€12,148
- Profit (loss) carried forward -€238,353
down €238,353 (-100.0%), from €238,353 to €0
- Debts after one year +€137,918
up €137,918 (+352.3%), from €39,143 to €177,062
of which Other amounts payable: +€150,000
- Other debts +€79,778
up €79,778 (+387.4%), from €20,595 to €100,373
- Tax, wage and social debts +€16,455
up €16,455 (+48.9%), from €33,622 to €50,077
- Gross operating margin +€26,746
up €26,746 (+18.9%), from €141,593 to €168,339
- Taxes +€6,927
up €6,927 (+25.2%), from €27,485 to €34,412
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 | €348,965 | €347,689 | -€1,276 | -0.4% |
| Fixed assets | 21/28 | €57,033 | €47,046 | -€9,987 | -17.5% |
| Tangible fixed assets | 22/27 | €57,033 | €47,046 | -€9,987 | -17.5% |
| Furniture and vehicles | 24 | €3,871 | €7,286 | +€3,416 | +88.2% |
| Leasing and similar rights | 25 | €48,534 | €36,386 | -€12,148 | -25.0% |
| Other tangible fixed assets | 26 | €4,629 | €3,375 | -€1,254 | -27.1% |
| Current assets | 29/58 | €291,932 | €300,643 | +€8,711 | +3.0% |
| Amounts receivable within one year | 40/41 | €4,643 | €3,656 | -€987 | -21.3% |
| Trade receivables | 40 | €3,167 | €1,750 | -€1,417 | -44.7% |
| Other amounts receivable | 41 | €1,476 | €1,906 | +€430 | +29.1% |
| Current investments | 50/53 | €137,797 | €126,798 | -€11,000 | -8.0% |
| Cash at bank and in hand | 54/58 | €76,438 | €96,623 | +€20,185 | +26.4% |
| Deferred charges and accrued income | 490/1 | €73,053 | €73,566 | +€513 | +0.7% |
| Total equity and liabilities | 10/49 | €348,965 | €347,689 | -€1,276 | -0.4% |
| Equity | 10/15 | €241,853 | €3,500 | -€238,353 | -98.6% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €238,353 | €0 | -€238,353 | -100.0% |
| Amounts payable | 17/49 | €107,112 | €344,189 | +€237,077 | +221.3% |
| Amounts payable after more than one year | 17 | €39,143 | €177,062 | +€137,918 | +352.3% |
| Financial debts | 170/4 | €39,143 | €27,062 | -€12,082 | -30.9% |
| Other amounts payable | 178/9 | - | €150,000 | +€150,000 | |
| Amounts payable within one year | 42/48 | €67,926 | €166,869 | +€98,943 | +145.7% |
| Current portion of amounts payable after more than one year | 42 | €11,186 | €12,082 | +€896 | +8.0% |
| Trade debts | 44 | €2,523 | €4,337 | +€1,814 | +71.9% |
| Suppliers | 440/4 | €2,523 | €4,337 | +€1,814 | +71.9% |
| Taxes, remuneration and social security | 45 | €33,622 | €50,077 | +€16,455 | +48.9% |
| Taxes | 450/3 | €33,622 | €50,077 | +€16,455 | +48.9% |
| Other amounts payable | 47/48 | €20,595 | €100,373 | +€79,778 | +387.4% |
| Accrued charges and deferred income | 492/3 | €44 | €259 | +€215 | +494.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,695 | €15,222 | +€526 | +3.6% |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €141,593 | €168,339 | +€26,746 | +18.9% |
| Operating profit (loss) | 9901 | €126,898 | €152,730 | +€25,832 | +20.4% |
| Financial income | 75/76B | €2,960 | €2,803 | -€157 | -5.3% |
| Recurring financial income | 75 | €2,960 | €2,803 | -€157 | -5.3% |
| Financial charges | 65/66B | €5,157 | €4,307 | -€851 | -16.5% |
| Recurring financial charges | 65 | €5,157 | €4,307 | -€851 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €124,700 | €151,226 | +€26,526 | +21.3% |
| Income taxes | 67/77 | €27,485 | €34,412 | +€6,927 | +25.2% |
| Profit (loss) for the period | 9904 | €97,215 | €116,815 | +€19,599 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,215 | €116,815 | +€19,599 | +20.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.