MHV INVEST: what changed
MHV INVEST
Largest movements
- Stocks and contracts +€133,611
up €133,611 (+115%), from €115,735 to €249,346
- Tangible fixed assets +€50,340
up €50,340 (+2,578%), from €1,953 to €52,293
of which Furniture and vehicles: +€49,161
- Receivables within one year +€21,594
up €21,594 (+125%), from €17,243 to €38,837
of which Other amounts receivable: +€23,334
- Other debts +€151,970
up €151,970 (+491%), from €30,934 to €182,905
- Debts after one year +€46,025
new in 2025: €46,025
- Profit (loss) carried forward +€13,568
up €13,568 (+34.3%), from €39,609 to €53,177
- Tax, wage and social debts -€11,902
down €11,902 (-54.9%), from €21,697 to €9,795
of which Taxes: -€13,102
- Gross operating margin -€8,490
down €8,490 (-29.5%), from €28,786 to €20,296
- Taxes -€3,486
down €3,486 (-65.0%), from €5,366 to €1,880
- Financial charges +€1,800
up €1,800 (+587%), from €307 to €2,107
- Depreciation +€1,627
up €1,627 (+1,550%), from €105 to €1,732
- Other operating charges -€555
down €555 (-35.4%), from €1,568 to €1,013
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
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,653 | €340,918 | +€205,265 | +151% |
| Fixed assets | 21/28 | €1,953 | €52,293 | +€50,340 | +2,578% |
| Tangible fixed assets | 22/27 | €1,953 | €52,293 | +€50,340 | +2,578% |
| Furniture and vehicles | 24 | €1,953 | €51,114 | +€49,161 | +2,517% |
| Other tangible fixed assets | 26 | - | €1,178 | +€1,178 | |
| Current assets | 29/58 | €133,700 | €288,625 | +€154,926 | +116% |
| Stocks and contracts in progress | 3 | €115,735 | €249,346 | +€133,611 | +115% |
| Stocks | 30/36 | €115,735 | €249,346 | +€133,611 | +115% |
| Amounts receivable within one year | 40/41 | €17,243 | €38,837 | +€21,594 | +125% |
| Trade receivables | 40 | €2,120 | €380 | -€1,740 | -82.1% |
| Other amounts receivable | 41 | €15,123 | €38,457 | +€23,334 | +154% |
| Deferred charges and accrued income | 490/1 | €722 | €442 | -€280 | -38.8% |
| Total equity and liabilities | 10/49 | €135,653 | €340,918 | +€205,265 | +151% |
| Equity | 10/15 | €53,109 | €66,677 | +€13,568 | +25.5% |
| Contributions | 10/11 | €13,500 | €13,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,609 | €53,177 | +€13,568 | +34.3% |
| Amounts payable | 17/49 | €82,544 | €274,241 | +€191,697 | +232% |
| Amounts payable after more than one year | 17 | - | €46,025 | +€46,025 | |
| Financial debts | 170/4 | - | €46,025 | +€46,025 | |
| Amounts payable within one year | 42/48 | €82,544 | €228,216 | +€145,672 | +176% |
| Financial debts | 43 | €29,127 | €31,476 | +€2,349 | +8.1% |
| Credit institutions | 430/8 | €29,127 | €31,476 | +€2,349 | +8.1% |
| Trade debts | 44 | €785 | €4,040 | +€3,255 | +414% |
| Suppliers | 440/4 | €785 | €4,040 | +€3,255 | +414% |
| Taxes, remuneration and social security | 45 | €21,697 | €9,795 | -€11,902 | -54.9% |
| Taxes | 450/3 | €21,697 | €8,595 | -€13,102 | -60.4% |
| Remuneration and social security | 454/9 | - | €1,200 | +€1,200 | |
| Other amounts payable | 47/48 | €30,934 | €182,905 | +€151,970 | +491% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105 | €1,732 | +€1,627 | +1,550% |
| Other operating charges | 640/8 | €1,568 | €1,013 | -€555 | -35.4% |
| Gross operating margin | 9900 | €28,786 | €20,296 | -€8,490 | -29.5% |
| Operating profit (loss) | 9901 | €27,113 | €17,551 | -€9,562 | -35.3% |
| Financial income | 75/76B | €10 | €4 | -€6 | -59.3% |
| Recurring financial income | 75 | €10 | €4 | -€6 | -59.3% |
| Financial charges | 65/66B | €307 | €2,107 | +€1,800 | +587% |
| Recurring financial charges | 65 | €307 | €2,107 | +€1,800 | +587% |
| Profit (loss) for the period before taxes | 9903 | €26,816 | €15,448 | -€11,368 | -42.4% |
| Income taxes | 67/77 | €5,366 | €1,880 | -€3,486 | -65.0% |
| Profit (loss) for the period | 9904 | €21,451 | €13,568 | -€7,882 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,451 | €13,568 | -€7,882 | -36.7% |
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 5 November 2026 via checked.be.