MHS PROJECTS: what changed
MHS PROJECTS
Largest movements
- Cash -€62,815
down €62,815 (-80.9%), from €77,599 to €14,784
mainly Receivables within one year (-€59,366) and Tax, wage and social debts (-€19,448)
- Receivables within one year +€59,366
up €59,366 (+61.5%), from €96,475 to €155,841
of which Trade receivables: +€44,003
- Tax, wage and social debts -€19,448
down €19,448 (-55.2%), from €35,241 to €15,793
- Reserves +€9,469
up €9,469 (+9.4%), from €101,099 to €110,568
- Trade debts +€6,917
up €6,917 (+21.1%), from €32,846 to €39,763
- Gross operating margin -€10,675
down €10,675 (-37.4%), from €28,580 to €17,904
- Taxes -€2,511
down €2,511 (-42.6%), from €5,898 to €3,387
- Financial income -€1,552
down €1,552 (-100%), from €1,552 to €0
- Financial charges +€289
up €289 (+468%), from €62 to €351
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,073 | €170,624 | -€3,449 | -2.0% |
| Current assets | 29/58 | €174,073 | €170,624 | -€3,449 | -2.0% |
| Amounts receivable within one year | 40/41 | €96,475 | €155,841 | +€59,366 | +61.5% |
| Trade receivables | 40 | €76,873 | €120,875 | +€44,003 | +57.2% |
| Other amounts receivable | 41 | €19,602 | €34,965 | +€15,363 | +78.4% |
| Cash at bank and in hand | 54/58 | €77,599 | €14,784 | -€62,815 | -80.9% |
| Total equity and liabilities | 10/49 | €174,073 | €170,624 | -€3,449 | -2.0% |
| Equity | 10/15 | €105,599 | €115,068 | +€9,469 | +9.0% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €101,099 | €110,568 | +€9,469 | +9.4% |
| Distributable reserves | 133 | €101,099 | €110,568 | +€9,469 | +9.4% |
| Amounts payable | 17/49 | €68,475 | €55,557 | -€12,918 | -18.9% |
| Amounts payable within one year | 42/48 | €68,087 | €55,557 | -€12,531 | -18.4% |
| Trade debts | 44 | €32,846 | €39,763 | +€6,917 | +21.1% |
| Suppliers | 440/4 | €32,846 | €39,763 | +€6,917 | +21.1% |
| Taxes, remuneration and social security | 45 | €35,241 | €15,793 | -€19,448 | -55.2% |
| Taxes | 450/3 | €35,241 | €15,793 | -€19,448 | -55.2% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Other operating charges | 640/8 | €580 | €619 | +€39 | +6.6% |
| Non-recurring operating charges | 66A | - | €4,078 | +€4,078 | |
| Gross operating margin | 9900 | €28,580 | €17,904 | -€10,675 | -37.4% |
| Operating profit (loss) | 9901 | €27,999 | €13,207 | -€14,792 | -52.8% |
| Financial income | 75/76B | €1,552 | €0 | -€1,552 | -100% |
| Recurring financial income | 75 | €1,552 | €0 | -€1,552 | -100% |
| Financial charges | 65/66B | €62 | €351 | +€289 | +468% |
| Recurring financial charges | 65 | €62 | €351 | +€289 | +468% |
| Profit (loss) for the period before taxes | 9903 | €29,490 | €12,856 | -€16,634 | -56.4% |
| Income taxes | 67/77 | €5,898 | €3,387 | -€2,511 | -42.6% |
| Profit (loss) for the period | 9904 | €23,592 | €9,469 | -€14,123 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,592 | €9,469 | -€14,123 | -59.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.