MIH: 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.
MIH
Largest movements
- Tangible fixed assets +€622,752
up €622,752 (+178.8%), from €348,219 to €970,971
of which Land and buildings: +€641,759
- Receivables within one year -€33,813
down €33,813 (-44.4%), from €76,095 to €42,281
of which Trade receivables: -€35,893
- Deferred charges and accrued income +€19,339
up €19,339 (+1161.1%), from €1,666 to €21,005
- Current portion of long-term debt +€550,128
up €550,128 (+10192.9%), from €5,397 to €555,525
- Other debts +€54,995
up €54,995 (+36.5%), from €150,539 to €205,533
- Profit (loss) carried forward -€45,735
down €45,735 (-24.9%), from €183,496 to €137,761
- Trade debts +€44,399
up €44,399 (+1035.8%), from €4,287 to €48,686
- Gross operating margin -€32,303
down €32,303 (-88.6%), from €36,474 to €4,171
- Depreciation +€13,279
up €13,279 (+59.0%), from €22,514 to €35,793
- Financial income +€4,013
up €4,013 (+40127800.0%), from €0 to €4,013
- Financial charges +€2,817
up €2,817 (+23.8%), from €11,812 to €14,629
- Other operating charges -€1,017
down €1,017 (-23.7%), from €4,291 to €3,274
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 | €429,737 | €1,034,558 | +€604,820 | +140.7% |
| Fixed assets | 21/28 | €348,219 | €970,971 | +€622,752 | +178.8% |
| Tangible fixed assets | 22/27 | €348,219 | €970,971 | +€622,752 | +178.8% |
| Land and buildings | 22 | €322,228 | €963,988 | +€641,759 | +199.2% |
| Furniture and vehicles | 24 | €25,991 | €6,984 | -€19,007 | -73.1% |
| Current assets | 29/58 | €81,518 | €63,586 | -€17,932 | -22.0% |
| Amounts receivable within one year | 40/41 | €76,095 | €42,281 | -€33,813 | -44.4% |
| Trade receivables | 40 | €39,883 | €3,990 | -€35,893 | -90.0% |
| Other amounts receivable | 41 | €36,211 | €38,291 | +€2,080 | +5.7% |
| Cash at bank and in hand | 54/58 | €3,758 | €300 | -€3,458 | -92.0% |
| Deferred charges and accrued income | 490/1 | €1,666 | €21,005 | +€19,339 | +1161.1% |
| Total equity and liabilities | 10/49 | €429,737 | €1,034,558 | +€604,820 | +140.7% |
| Equity | 10/15 | €191,555 | €145,820 | -€45,735 | -23.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €183,496 | €137,761 | -€45,735 | -24.9% |
| Amounts payable | 17/49 | €238,183 | €888,738 | +€650,556 | +273.1% |
| Amounts payable after more than one year | 17 | €47,497 | €41,972 | -€5,525 | -11.6% |
| Financial debts | 170/4 | €47,497 | €41,972 | -€5,525 | -11.6% |
| Amounts payable within one year | 42/48 | €166,828 | €822,909 | +€656,081 | +393.3% |
| Current portion of amounts payable after more than one year | 42 | €5,397 | €555,525 | +€550,128 | +10192.9% |
| Financial debts | 43 | €6,500 | €6,500 | = | 0.0% |
| Other loans | 439 | €6,500 | €6,500 | = | 0.0% |
| Trade debts | 44 | €4,287 | €48,686 | +€44,399 | +1035.8% |
| Suppliers | 440/4 | €4,287 | €48,686 | +€44,399 | +1035.8% |
| Taxes, remuneration and social security | 45 | €106 | €6,665 | +€6,559 | +6184.8% |
| Taxes | 450/3 | €106 | €6,665 | +€6,559 | +6184.8% |
| Other amounts payable | 47/48 | €150,539 | €205,533 | +€54,995 | +36.5% |
| Accrued charges and deferred income | 492/3 | €23,857 | €23,857 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,514 | €35,793 | +€13,279 | +59.0% |
| Other operating charges | 640/8 | €4,291 | €3,274 | -€1,017 | -23.7% |
| Non-recurring operating charges | 66A | €1,895 | €0 | -€1,895 | -100.0% |
| Gross operating margin | 9900 | €36,474 | €4,171 | -€32,303 | -88.6% |
| Operating profit (loss) | 9901 | €7,774 | -€34,895 | -€42,670 | |
| Financial income | 75/76B | €0 | €4,013 | +€4,013 | +40127800.0% |
| Recurring financial income | 75 | €0 | €4,013 | +€4,013 | +40127800.0% |
| Financial charges | 65/66B | €11,812 | €14,629 | +€2,817 | +23.8% |
| Recurring financial charges | 65 | €11,812 | €14,629 | +€2,817 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,038 | -€45,511 | -€41,474 | -1027.2% |
| Income taxes | 67/77 | €318 | €224 | -€95 | -29.7% |
| Profit (loss) for the period | 9904 | -€4,356 | -€45,735 | -€41,379 | -949.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,356 | -€45,735 | -€41,379 | -949.9% |
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 30 September 2026 via checked.be.