MIH-PROJECTS: 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.
MIH-PROJECTS
Largest movements
- Cash -€43,564
down €43,564 (-46.6%), from €93,502 to €49,939
mainly Contributions, distributions and other (-€83,176) and Investment in fixed assets (net) (-€6,363)
- Receivables within one year -€7,410
down €7,410 (-18.1%), from €40,831 to €33,421
of which Trade receivables: -€8,836
- Tangible fixed assets +€5,068
up €5,068 (+161%), from €3,139 to €8,207
of which Plant, machinery and equipment: +€5,101
- Reserves -€43,745
down €43,745 (-40.1%), from €109,176 to €65,431
- Gross operating margin -€6,162
down €6,162 (-10.5%), from €58,785 to €52,623
- Taxes -€1,436
down €1,436 (-11.9%), from €12,103 to €10,667
- Other operating charges +€1,348
up €1,348 (+239%), from €563 to €1,911
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 | €140,266 | €95,391 | -€44,875 | -32.0% |
| Fixed assets | 21/28 | €3,359 | €8,427 | +€5,068 | +151% |
| Tangible fixed assets | 22/27 | €3,139 | €8,207 | +€5,068 | +161% |
| Plant, machinery and equipment | 23 | €109 | €5,211 | +€5,101 | +4,666% |
| Furniture and vehicles | 24 | €3,029 | €2,996 | -€33 | -1.1% |
| Financial fixed assets | 28 | €220 | €220 | = | 0.0% |
| Current assets | 29/58 | €136,908 | €86,964 | -€49,943 | -36.5% |
| Amounts receivable within one year | 40/41 | €40,831 | €33,421 | -€7,410 | -18.1% |
| Trade receivables | 40 | €37,692 | €28,855 | -€8,836 | -23.4% |
| Other amounts receivable | 41 | €3,139 | €4,565 | +€1,426 | +45.4% |
| Cash at bank and in hand | 54/58 | €93,502 | €49,939 | -€43,564 | -46.6% |
| Deferred charges and accrued income | 490/1 | €2,575 | €3,605 | +€1,030 | +40.0% |
| Total equity and liabilities | 10/49 | €140,266 | €95,391 | -€44,875 | -32.0% |
| Equity | 10/15 | €127,776 | €84,031 | -€43,745 | -34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,176 | €65,431 | -€43,745 | -40.1% |
| Distributable reserves | 133 | €109,176 | €65,431 | -€43,745 | -40.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,490 | €11,360 | -€1,130 | -9.0% |
| Amounts payable within one year | 42/48 | €12,490 | €11,360 | -€1,130 | -9.0% |
| Trade debts | 44 | €2,804 | €3,195 | +€391 | +13.9% |
| Suppliers | 440/4 | €2,804 | €3,195 | +€391 | +13.9% |
| Taxes, remuneration and social security | 45 | €7,770 | €6,503 | -€1,267 | -16.3% |
| Taxes | 450/3 | €5,670 | €4,403 | -€1,267 | -22.3% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €1,917 | €1,663 | -€254 | -13.2% |
| Non-recurring operating income | 76A | - | €2,476 | +€2,476 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €875 | €1,295 | +€420 | +48.0% |
| Other operating charges | 640/8 | €563 | €1,911 | +€1,348 | +239% |
| Non-recurring operating charges | 66A | €840 | €0 | -€840 | -100% |
| Gross operating margin | 9900 | €58,785 | €52,623 | -€6,162 | -10.5% |
| Operating profit (loss) | 9901 | €56,507 | €49,417 | -€7,090 | -12.5% |
| Financial income | 75/76B | €773 | €768 | -€5 | -0.6% |
| Recurring financial income | 75 | €773 | €768 | -€5 | -0.6% |
| Financial charges | 65/66B | €116 | €88 | -€28 | -24.4% |
| Recurring financial charges | 65 | €116 | €88 | -€28 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €57,164 | €50,097 | -€7,067 | -12.4% |
| Income taxes | 67/77 | €12,103 | €10,667 | -€1,436 | -11.9% |
| Profit (loss) for the period | 9904 | €45,061 | €39,431 | -€5,631 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,061 | €39,431 | -€5,631 | -12.5% |
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 14 October 2026 via checked.be.