MHP: 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.
MHP
Largest movements
- Cash +€12,562
up €12,562 (+194%), from €6,461 to €19,023
mainly Depreciation (+€16,743) and Other debts (+€9,981)
- Receivables within one year -€7,557
down €7,557 (-41.3%), from €18,294 to €10,737
- Tangible fixed assets -€5,788
down €5,788 (-19.6%), from €29,587 to €23,800
of which Furniture and vehicles: -€4,677
- Stocks and contracts -€4,610
down €4,610 (-4.2%), from €108,709 to €104,099
- Trade debts -€13,676
down €13,676 (-25.9%), from €52,783 to €39,107
- Other debts +€9,981
up €9,981 (+23.3%), from €42,874 to €52,854
- Debts after one year -€6,467
down €6,467 (-34.7%), from €18,642 to €12,174
- Tax, wage and social debts +€3,196
up €3,196 (+17.4%), from €18,368 to €21,564
of which Remuneration and social security: +€4,079
- Profit (loss) carried forward +€3,193
up €3,193 (+6.0%), from €53,509 to €56,702
- Gross operating margin +€37,845
up €37,845 (+41.4%), from €91,315 to €129,161
- Depreciation +€4,450
up €4,450 (+36.2%), from €12,293 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.
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 | €214,722 | €209,329 | -€5,393 | -2.5% |
| Fixed assets | 21/28 | €81,258 | €75,470 | -€5,788 | -7.1% |
| Tangible fixed assets | 22/27 | €29,587 | €23,800 | -€5,788 | -19.6% |
| Plant, machinery and equipment | 23 | €20,808 | €19,697 | -€1,111 | -5.3% |
| Furniture and vehicles | 24 | €8,779 | €4,102 | -€4,677 | -53.3% |
| Financial fixed assets | 28 | €51,670 | €51,670 | = | 0.0% |
| Current assets | 29/58 | €133,464 | €133,859 | +€394 | +0.3% |
| Stocks and contracts in progress | 3 | €108,709 | €104,099 | -€4,610 | -4.2% |
| Stocks | 30/36 | €108,709 | €104,099 | -€4,610 | -4.2% |
| Amounts receivable within one year | 40/41 | €18,294 | €10,737 | -€7,557 | -41.3% |
| Other amounts receivable | 41 | €18,294 | €10,737 | -€7,557 | -41.3% |
| Cash at bank and in hand | 54/58 | €6,461 | €19,023 | +€12,562 | +194% |
| Total equity and liabilities | 10/49 | €214,722 | €209,329 | -€5,393 | -2.5% |
| Equity | 10/15 | €73,969 | €77,162 | +€3,193 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,509 | €56,702 | +€3,193 | +6.0% |
| Amounts payable | 17/49 | €140,753 | €132,167 | -€8,586 | -6.1% |
| Amounts payable after more than one year | 17 | €18,642 | €12,174 | -€6,467 | -34.7% |
| Financial debts | 170/4 | €18,642 | €12,174 | -€6,467 | -34.7% |
| Amounts payable within one year | 42/48 | €122,111 | €119,993 | -€2,119 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €6,134 | €6,467 | +€333 | +5.4% |
| Financial debts | 43 | €1,953 | - | -€1,953 | |
| Credit institutions | 430/8 | €1,953 | - | -€1,953 | |
| Trade debts | 44 | €52,783 | €39,107 | -€13,676 | -25.9% |
| Suppliers | 440/4 | €52,783 | €39,107 | -€13,676 | -25.9% |
| Taxes, remuneration and social security | 45 | €18,368 | €21,564 | +€3,196 | +17.4% |
| Taxes | 450/3 | €1,347 | €464 | -€883 | -65.6% |
| Remuneration and social security | 454/9 | €17,021 | €21,100 | +€4,079 | +24.0% |
| Other amounts payable | 47/48 | €42,874 | €52,854 | +€9,981 | +23.3% |
| Remuneration, social security and pensions | 62 | €100,323 | €101,574 | +€1,251 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,293 | €16,743 | +€4,450 | +36.2% |
| Other operating charges | 640/8 | €4,357 | €4,687 | +€329 | +7.6% |
| Gross operating margin | 9900 | €91,315 | €129,161 | +€37,845 | +41.4% |
| Operating profit (loss) | 9901 | -€25,659 | €6,156 | +€31,815 | |
| Financial income | 75/76B | €8 | €20 | +€12 | +151% |
| Recurring financial income | 75 | €8 | €20 | +€12 | +151% |
| Financial charges | 65/66B | €2,488 | €2,983 | +€495 | +19.9% |
| Recurring financial charges | 65 | €2,488 | €2,983 | +€495 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,139 | €3,193 | +€31,332 | |
| Profit (loss) for the period | 9904 | -€28,139 | €3,193 | +€31,332 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,139 | €3,193 | +€31,332 |
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 14 October 2026 via checked.be.