MIHEVCO: 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.
MIHEVCO
Largest movements
- Cash -€14,673
down €14,673 (-48.3%), from €30,407 to €15,734
mainly Contributions, distributions and other (-€22,117) and Investment in fixed assets (net) (-€12,236)
- Tangible fixed assets +€8,509
up €8,509 (+82.3%), from €10,344 to €18,853
of which Furniture and vehicles: +€9,373
- Receivables within one year +€1,170
up €1,170 (+9.5%), from €12,270 to €13,440
of which Trade receivables: +€697
- Other debts -€9,836
down €9,836 (-30.6%), from €32,151 to €22,314
- Debts after one year +€6,086
new in 2025: €6,086
- Tax, wage and social debts -€4,394
down €4,394 (-64.0%), from €6,869 to €2,475
- Current portion of long-term debt +€3,343
new in 2025: €3,343
- Gross operating margin -€7,264
down €7,264 (-18.1%), from €40,129 to €32,865
- Financial income -€2,976
down €2,976 (-96.3%), from €3,089 to €114
- Taxes -€1,705
down €1,705 (-20.9%), from €8,139 to €6,434
- Depreciation +€790
up €790 (+26.9%), from €2,938 to €3,728
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 | €57,647 | €52,900 | -€4,747 | -8.2% |
| Fixed assets | 21/28 | €10,344 | €18,853 | +€8,509 | +82.3% |
| Tangible fixed assets | 22/27 | €10,344 | €18,853 | +€8,509 | +82.3% |
| Plant, machinery and equipment | 23 | €5,785 | €4,921 | -€864 | -14.9% |
| Furniture and vehicles | 24 | €4,559 | €13,932 | +€9,373 | +205.6% |
| Current assets | 29/58 | €47,303 | €34,047 | -€13,256 | -28.0% |
| Amounts receivable within one year | 40/41 | €12,270 | €13,440 | +€1,170 | +9.5% |
| Trade receivables | 40 | €10,642 | €11,340 | +€697 | +6.6% |
| Other amounts receivable | 41 | €1,628 | €2,101 | +€473 | +29.0% |
| Current investments | 50/53 | €4,412 | €4,412 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €30,407 | €15,734 | -€14,673 | -48.3% |
| Deferred charges and accrued income | 490/1 | €214 | €461 | +€247 | +115.2% |
| Total equity and liabilities | 10/49 | €57,647 | €52,900 | -€4,747 | -8.2% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €39,047 | €34,300 | -€4,747 | -12.2% |
| Amounts payable after more than one year | 17 | - | €6,086 | +€6,086 | |
| Financial debts | 170/4 | - | €6,086 | +€6,086 | |
| Amounts payable within one year | 42/48 | €39,047 | €28,214 | -€10,833 | -27.7% |
| Current portion of amounts payable after more than one year | 42 | - | €3,343 | +€3,343 | |
| Trade debts | 44 | €28 | €82 | +€54 | +195.7% |
| Suppliers | 440/4 | €28 | €82 | +€54 | +195.7% |
| Taxes, remuneration and social security | 45 | €6,869 | €2,475 | -€4,394 | -64.0% |
| Taxes | 450/3 | €6,869 | €2,475 | -€4,394 | -64.0% |
| Other amounts payable | 47/48 | €32,151 | €22,314 | -€9,836 | -30.6% |
| Non-recurring operating income | 76A | €11,570 | - | -€11,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,938 | €3,728 | +€790 | +26.9% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €40,129 | €32,865 | -€7,264 | -18.1% |
| Operating profit (loss) | 9901 | €37,073 | €29,018 | -€8,056 | -21.7% |
| Financial income | 75/76B | €3,089 | €114 | -€2,976 | -96.3% |
| Recurring financial income | 75 | €3,089 | €114 | -€2,976 | -96.3% |
| Financial charges | 65/66B | €291 | €580 | +€289 | +99.1% |
| Recurring financial charges | 65 | €291 | €580 | +€289 | +99.1% |
| Profit (loss) for the period before taxes | 9903 | €39,871 | €28,552 | -€11,320 | -28.4% |
| Income taxes | 67/77 | €8,139 | €6,434 | -€1,705 | -20.9% |
| Profit (loss) for the period | 9904 | €31,732 | €22,117 | -€9,615 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,732 | €22,117 | -€9,615 | -30.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.