MHUB CONSULT: 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.
MHUB CONSULT
Largest movements
- Cash +€74,959
up €74,959 (+45.5%), from €164,612 to €239,571
mainly Net result for the year (+€93,253) and Depreciation (+€4,524)
- Current investments +€25,000
new in 2025: €25,000
- Tangible fixed assets -€3,681
down €3,681 (-24.2%), from €15,220 to €11,539
- Reserves +€93,000
up €93,000 (+58.3%), from €159,500 to €252,500
- Tax, wage and social debts +€3,860
up €3,860 (+22.4%), from €17,252 to €21,112
- Gross operating margin -€6,798
down €6,798 (-4.8%), from €141,606 to €134,808
- Taxes -€1,751
down €1,751 (-4.4%), from €39,655 to €37,904
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 | €181,231 | €277,888 | +€96,656 | +53.3% |
| Fixed assets | 21/28 | €15,220 | €11,539 | -€3,681 | -24.2% |
| Tangible fixed assets | 22/27 | €15,220 | €11,539 | -€3,681 | -24.2% |
| Furniture and vehicles | 24 | €15,220 | €11,539 | -€3,681 | -24.2% |
| Current assets | 29/58 | €166,012 | €266,349 | +€100,337 | +60.4% |
| Amounts receivable within one year | 40/41 | - | €274 | +€274 | |
| Trade receivables | 40 | - | €274 | +€274 | |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €164,612 | €239,571 | +€74,959 | +45.5% |
| Deferred charges and accrued income | 490/1 | €1,400 | €1,504 | +€104 | +7.4% |
| Total equity and liabilities | 10/49 | €181,231 | €277,888 | +€96,656 | +53.3% |
| Equity | 10/15 | €163,272 | €256,525 | +€93,253 | +57.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €159,500 | €252,500 | +€93,000 | +58.3% |
| Distributable reserves | 133 | €159,500 | €252,500 | +€93,000 | +58.3% |
| Profit (loss) carried forward | 14 | €772 | €1,025 | +€253 | +32.8% |
| Amounts payable | 17/49 | €17,960 | €21,363 | +€3,403 | +18.9% |
| Amounts payable within one year | 42/48 | €17,960 | €21,363 | +€3,403 | +18.9% |
| Trade debts | 44 | €209 | - | -€209 | |
| Suppliers | 440/4 | €209 | - | -€209 | |
| Taxes, remuneration and social security | 45 | €17,252 | €21,112 | +€3,860 | +22.4% |
| Taxes | 450/3 | €17,252 | €21,112 | +€3,860 | +22.4% |
| Other amounts payable | 47/48 | €499 | €251 | -€248 | -49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,310 | €4,524 | +€214 | +5.0% |
| Other operating charges | 640/8 | €138 | €185 | +€47 | +33.9% |
| Gross operating margin | 9900 | €141,606 | €134,808 | -€6,798 | -4.8% |
| Operating profit (loss) | 9901 | €137,158 | €130,099 | -€7,059 | -5.1% |
| Financial income | 75/76B | - | €1,162 | +€1,162 | |
| Recurring financial income | 75 | - | €1,162 | +€1,162 | |
| Financial charges | 65/66B | €70 | €104 | +€35 | +49.9% |
| Recurring financial charges | 65 | €70 | €104 | +€35 | +49.9% |
| Profit (loss) for the period before taxes | 9903 | €137,088 | €131,157 | -€5,932 | -4.3% |
| Income taxes | 67/77 | €39,655 | €37,904 | -€1,751 | -4.4% |
| Profit (loss) for the period | 9904 | €97,434 | €93,253 | -€4,181 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,434 | €93,253 | -€4,181 | -4.3% |
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 15 October 2026 via checked.be.