MHR: 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.
MHR
Largest movements
- Stocks and contracts -€55,270
down €55,270 (-71.9%), from €76,822 to €21,552
- Receivables within one year +€33,790
up €33,790 (+257.6%), from €13,115 to €46,905
of which Trade receivables: +€46,250
- Tangible fixed assets +€13,100
new in 2024: €13,100
- Deferred charges and accrued income +€4,610
new in 2024: €4,610
- Cash +€1,597
up €1,597 (+13.7%), from €11,693 to €13,290
mainly Stocks and contracts (+€55,270) and Trade debts (+€31,157)
- Trade debts +€31,157
up €31,157 (+1243.8%), from €2,505 to €33,662
- Tax, wage and social debts -€23,941
down €23,941 (-67.0%), from €35,755 to €11,814
of which Remuneration and social security: -€19,260
- Other debts -€20,350
down €20,350 (-85.7%), from €23,750 to €3,400
- Profit (loss) carried forward +€10,991
up €10,991 (+75.3%), from €14,590 to €25,581
- Depreciation +€6,550
new in 2024: €6,550
- Write-downs -€2,367
no longer reported in 2024 (was €2,367)
- Gross operating margin -€1,696
down €1,696 (-7.4%), from €23,050 to €21,354
- Taxes -€1,461
down €1,461 (-26.7%), from €5,462 to €4,001
- Other operating charges -€359
no longer reported in 2024 (was €359)
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 | €101,630 | €99,457 | -€2,173 | -2.1% |
| Fixed assets | 21/28 | - | €13,100 | +€13,100 | |
| Tangible fixed assets | 22/27 | - | €13,100 | +€13,100 | |
| Plant, machinery and equipment | 23 | - | €13,100 | +€13,100 | |
| Current assets | 29/58 | €101,630 | €86,357 | -€15,273 | -15.0% |
| Stocks and contracts in progress | 3 | €76,822 | €21,552 | -€55,270 | -71.9% |
| Stocks | 30/36 | €76,822 | €21,552 | -€55,270 | -71.9% |
| Amounts receivable within one year | 40/41 | €13,115 | €46,905 | +€33,790 | +257.6% |
| Trade receivables | 40 | - | €46,250 | +€46,250 | |
| Other amounts receivable | 41 | €13,115 | €655 | -€12,460 | -95.0% |
| Cash at bank and in hand | 54/58 | €11,693 | €13,290 | +€1,597 | +13.7% |
| Deferred charges and accrued income | 490/1 | - | €4,610 | +€4,610 | |
| Total equity and liabilities | 10/49 | €101,630 | €99,457 | -€2,173 | -2.1% |
| Equity | 10/15 | €39,590 | €50,581 | +€10,991 | +27.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,590 | €25,581 | +€10,991 | +75.3% |
| Amounts payable | 17/49 | €62,040 | €48,876 | -€13,164 | -21.2% |
| Amounts payable within one year | 42/48 | €62,040 | €48,876 | -€13,164 | -21.2% |
| Financial debts | 43 | €30 | - | -€30 | |
| Credit institutions | 430/8 | €30 | - | -€30 | |
| Trade debts | 44 | €2,505 | €33,662 | +€31,157 | +1243.8% |
| Suppliers | 440/4 | €2,505 | €33,662 | +€31,157 | +1243.8% |
| Taxes, remuneration and social security | 45 | €35,755 | €11,814 | -€23,941 | -67.0% |
| Taxes | 450/3 | €15,955 | €11,274 | -€4,681 | -29.3% |
| Remuneration and social security | 454/9 | €19,800 | €540 | -€19,260 | -97.3% |
| Other amounts payable | 47/48 | €23,750 | €3,400 | -€20,350 | -85.7% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,550 | +€6,550 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,367 | - | -€2,367 | |
| Other operating charges | 640/8 | €359 | - | -€359 | |
| Gross operating margin | 9900 | €23,050 | €21,354 | -€1,696 | -7.4% |
| Operating profit (loss) | 9901 | €20,324 | €14,804 | -€5,520 | -27.2% |
| Financial income | 75/76B | - | €208 | +€208 | |
| Recurring financial income | 75 | - | €208 | +€208 | |
| Financial charges | 65/66B | €272 | €20 | -€252 | -92.6% |
| Recurring financial charges | 65 | €272 | €20 | -€252 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | €20,052 | €14,992 | -€5,060 | -25.2% |
| Income taxes | 67/77 | €5,462 | €4,001 | -€1,461 | -26.7% |
| Profit (loss) for the period | 9904 | €14,590 | €10,991 | -€3,599 | -24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,590 | €10,991 | -€3,599 | -24.7% |
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 9 October 2026 via checked.be.