MIDHO: what changed
Two fiscal 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.
MIDHO
Largest movements
- Current investments +€36,545
up €36,545 (+38.9%), from €94,015 to €130,560
- Tangible fixed assets -€24,558
down €24,558 (-19.0%), from €128,922 to €104,365
of which Furniture and vehicles: -€17,213
- Cash +€7,547
up €7,547 (+10.8%), from €69,738 to €77,286
mainly Net result for the year (+€35,465) and Depreciation (+€24,558)
- Receivables within one year -€4,312
down €4,312 (-98.9%), from €4,362 to €50
- Reserves +€33,493
up €33,493 (+21.6%), from €155,035 to €188,529
- Debts after one year -€22,158
down €22,158 (-28.6%), from €77,549 to €55,391
- Gross operating margin +€7,699
up €7,699 (+11.9%), from €64,588 to €72,288
- Financial charges -€6,294
down €6,294, from €3,296 to -€2,998
- Taxes +€3,407
up €3,407 (+31.6%), from €10,771 to €14,178
- Depreciation +€2,150
up €2,150 (+9.6%), from €22,407 to €24,558
- Financial income +€810
up €810 (+270036.7%), from €0 to €810
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.
Cash bridge derived
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 | €297,237 | €313,877 | +€16,640 | +5.6% |
| Fixed assets | 21/28 | €128,922 | €104,365 | -€24,558 | -19.0% |
| Tangible fixed assets | 22/27 | €128,922 | €104,365 | -€24,558 | -19.0% |
| Land and buildings | 22 | €62,828 | €55,483 | -€7,345 | -11.7% |
| Furniture and vehicles | 24 | €66,094 | €48,882 | -€17,213 | -26.0% |
| Current assets | 29/58 | €168,315 | €209,512 | +€41,198 | +24.5% |
| Amounts receivable within one year | 40/41 | €4,362 | €50 | -€4,312 | -98.9% |
| Other amounts receivable | 41 | €4,362 | €50 | -€4,312 | -98.9% |
| Current investments | 50/53 | €94,015 | €130,560 | +€36,545 | +38.9% |
| Cash at bank and in hand | 54/58 | €69,738 | €77,286 | +€7,547 | +10.8% |
| Deferred charges and accrued income | 490/1 | €200 | €1,617 | +€1,417 | +708.7% |
| Total equity and liabilities | 10/49 | €297,237 | €313,877 | +€16,640 | +5.6% |
| Equity | 10/15 | €161,235 | €194,729 | +€33,493 | +20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €155,035 | €188,529 | +€33,493 | +21.6% |
| Distributable reserves | 133 | €155,035 | €188,529 | +€33,493 | +21.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €136,002 | €119,148 | -€16,853 | -12.4% |
| Amounts payable after more than one year | 17 | €77,549 | €55,391 | -€22,158 | -28.6% |
| Financial debts | 170/4 | €77,549 | €55,391 | -€22,158 | -28.6% |
| Amounts payable within one year | 42/48 | €58,329 | €63,658 | +€5,329 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €21,515 | €22,158 | +€643 | +3.0% |
| Trade debts | 44 | €30,280 | €31,174 | +€894 | +3.0% |
| Suppliers | 440/4 | €30,280 | €31,174 | +€894 | +3.0% |
| Taxes, remuneration and social security | 45 | €4,773 | €7,090 | +€2,317 | +48.5% |
| Taxes | 450/3 | €4,773 | €7,090 | +€2,317 | +48.5% |
| Other amounts payable | 47/48 | €1,761 | €3,236 | +€1,475 | +83.8% |
| Accrued charges and deferred income | 492/3 | €124 | €99 | -€25 | -19.9% |
| Non-recurring operating income | 76A | €5,037 | €0 | -€5,037 | -100.0% |
| Remuneration, social security and pensions | 62 | €420 | €0 | -€420 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,407 | €24,558 | +€2,150 | +9.6% |
| Other operating charges | 640/8 | €1,870 | €1,895 | +€25 | +1.4% |
| Gross operating margin | 9900 | €64,588 | €72,288 | +€7,699 | +11.9% |
| Operating profit (loss) | 9901 | €39,891 | €45,835 | +€5,944 | +14.9% |
| Financial income | 75/76B | €0 | €810 | +€810 | +270036.7% |
| Recurring financial income | 75 | €0 | €810 | +€810 | +270036.7% |
| Financial charges | 65/66B | €3,296 | -€2,998 | -€6,294 | |
| Recurring financial charges | 65 | €3,296 | -€2,998 | -€6,294 | |
| Profit (loss) for the period before taxes | 9903 | €36,595 | €49,643 | +€13,048 | +35.7% |
| Income taxes | 67/77 | €10,771 | €14,178 | +€3,407 | +31.6% |
| Profit (loss) for the period | 9904 | €25,824 | €35,465 | +€9,640 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,824 | €35,465 | +€9,640 | +37.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.