MHO CONSULT: 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.
MHO CONSULT
Largest movements
- Current investments -€27,767
down €27,767 (-54.4%), from €51,000 to €23,233
- Receivables within one year +€25,706
up €25,706 (+24.0%), from €107,163 to €132,869
of which Other amounts receivable: +€24,170
- Deferred charges and accrued income +€8,335
up €8,335 (+94.4%), from €8,825 to €17,161
- Cash +€4,328
up €4,328 (+13.0%), from €33,277 to €37,604
mainly Current investments (+€27,767) and Net result for the year (+€26,174)
- Tangible fixed assets +€2,946
up €2,946 (+158.4%), from €1,859 to €4,805
- Reserves +€26,000
up €26,000 (+29.1%), from €89,214 to €115,214
of which Distributable reserves: +€26,000
- Current portion of long-term debt -€21,944
no longer reported in 2025 (was €21,944)
- Tax, wage and social debts +€12,531
up €12,531 (+70.1%), from €17,871 to €30,402
- Financial income -€38,076
down €38,076 (-80.2%), from €47,467 to €9,391
- Gross operating margin -€17,103
down €17,103 (-34.3%), from €49,805 to €32,702
- Taxes -€13,705
down €13,705 (-53.0%), from €25,865 to €12,160
- Write-downs -€6,695
no longer reported in 2025 (was €6,695)
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 | €213,115 | €228,382 | +€15,267 | +7.2% |
| Fixed assets | 21/28 | €12,849 | €15,795 | +€2,946 | +22.9% |
| Tangible fixed assets | 22/27 | €1,859 | €4,805 | +€2,946 | +158.4% |
| Furniture and vehicles | 24 | €1,859 | €4,805 | +€2,946 | +158.4% |
| Financial fixed assets | 28 | €10,990 | €10,990 | = | 0.0% |
| Current assets | 29/58 | €200,265 | €212,587 | +€12,322 | +6.2% |
| Amounts receivable after more than one year | 29 | - | €1,720 | +€1,720 | |
| Other amounts receivable | 291 | - | €1,720 | +€1,720 | |
| Amounts receivable within one year | 40/41 | €107,163 | €132,869 | +€25,706 | +24.0% |
| Trade receivables | 40 | €21,594 | €23,130 | +€1,536 | +7.1% |
| Other amounts receivable | 41 | €85,570 | €109,739 | +€24,170 | +28.2% |
| Current investments | 50/53 | €51,000 | €23,233 | -€27,767 | -54.4% |
| Cash at bank and in hand | 54/58 | €33,277 | €37,604 | +€4,328 | +13.0% |
| Deferred charges and accrued income | 490/1 | €8,825 | €17,161 | +€8,335 | +94.4% |
| Total equity and liabilities | 10/49 | €213,115 | €228,382 | +€15,267 | +7.2% |
| Equity | 10/15 | €171,694 | €197,868 | +€26,174 | +15.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €89,214 | €115,214 | +€26,000 | +29.1% |
| Non-distributable reserves | 130/1 | €3,714 | €3,714 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €85,500 | €111,500 | +€26,000 | +30.4% |
| Profit (loss) carried forward | 14 | €63,930 | €64,104 | +€174 | +0.3% |
| Amounts payable | 17/49 | €41,421 | €30,514 | -€10,907 | -26.3% |
| Amounts payable within one year | 42/48 | €41,421 | €30,514 | -€10,907 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €21,944 | - | -€21,944 | |
| Trade debts | 44 | €1,605 | €112 | -€1,493 | -93.0% |
| Suppliers | 440/4 | €1,605 | €112 | -€1,493 | -93.0% |
| Taxes, remuneration and social security | 45 | €17,871 | €30,402 | +€12,531 | +70.1% |
| Taxes | 450/3 | €17,871 | €30,402 | +€12,531 | +70.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,761 | €1,553 | -€207 | -11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,695 | - | -€6,695 | |
| Other operating charges | 640/8 | €1,273 | €1,350 | +€77 | +6.1% |
| Non-recurring operating charges | 66A | €1,421 | - | -€1,421 | |
| Gross operating margin | 9900 | €49,805 | €32,702 | -€17,103 | -34.3% |
| Operating profit (loss) | 9901 | €38,655 | €29,798 | -€8,857 | -22.9% |
| Financial income | 75/76B | €47,467 | €9,391 | -€38,076 | -80.2% |
| Recurring financial income | 75 | €47,467 | €9,391 | -€38,076 | -80.2% |
| Financial charges | 65/66B | €1,034 | €855 | -€179 | -17.3% |
| Recurring financial charges | 65 | €1,034 | €855 | -€179 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €85,088 | €38,334 | -€46,754 | -54.9% |
| Income taxes | 67/77 | €25,865 | €12,160 | -€13,705 | -53.0% |
| Profit (loss) for the period | 9904 | €59,223 | €26,174 | -€33,049 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,223 | €26,174 | -€33,049 | -55.8% |
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 7 October 2026 via checked.be.