MIHO Management: 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.
MIHO Management
Largest movements
- Cash +€150,224
up €150,224 (+79.7%), from €188,567 to €338,791
mainly Net result for the year (+€137,576) and Depreciation (+€11,910)
- Tangible fixed assets -€11,910
down €11,910 (-25.5%), from €46,629 to €34,719
- Reserves +€137,576
up €137,576 (+96.8%), from €142,181 to €279,757
- Gross operating margin -€11,304
down €11,304 (-5.1%), from €222,469 to €211,165
- Taxes -€2,968
down €2,968 (-4.7%), from €63,581 to €60,613
- Other operating charges -€2,874
down €2,874 (-76.2%), from €3,773 to €899
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 | €235,879 | €374,503 | +€138,624 | +58.8% |
| Fixed assets | 21/28 | €46,629 | €34,719 | -€11,910 | -25.5% |
| Tangible fixed assets | 22/27 | €46,629 | €34,719 | -€11,910 | -25.5% |
| Furniture and vehicles | 24 | €46,629 | €34,719 | -€11,910 | -25.5% |
| Current assets | 29/58 | €189,249 | €339,784 | +€150,535 | +79.5% |
| Amounts receivable within one year | 40/41 | - | €993 | +€993 | |
| Trade receivables | 40 | - | €993 | +€993 | |
| Cash at bank and in hand | 54/58 | €188,567 | €338,791 | +€150,224 | +79.7% |
| Deferred charges and accrued income | 490/1 | €683 | - | -€683 | |
| Total equity and liabilities | 10/49 | €235,879 | €374,503 | +€138,624 | +58.8% |
| Equity | 10/15 | €157,181 | €294,757 | +€137,576 | +87.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €142,181 | €279,757 | +€137,576 | +96.8% |
| Distributable reserves | 133 | €142,181 | €279,757 | +€137,576 | +96.8% |
| Amounts payable | 17/49 | €78,697 | €79,746 | +€1,048 | +1.3% |
| Amounts payable within one year | 42/48 | €78,697 | €79,746 | +€1,048 | +1.3% |
| Trade debts | 44 | €40 | €176 | +€135 | +334% |
| Suppliers | 440/4 | €40 | €176 | +€135 | +334% |
| Taxes, remuneration and social security | 45 | €78,657 | €79,570 | +€913 | +1.2% |
| Taxes | 450/3 | €78,657 | €79,570 | +€913 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,922 | €11,910 | -€1,012 | -7.8% |
| Other operating charges | 640/8 | €3,773 | €899 | -€2,874 | -76.2% |
| Gross operating margin | 9900 | €222,469 | €211,165 | -€11,304 | -5.1% |
| Operating profit (loss) | 9901 | €205,774 | €198,356 | -€7,418 | -3.6% |
| Financial charges | 65/66B | €12 | €167 | +€155 | +1,329% |
| Recurring financial charges | 65 | €12 | €167 | +€155 | +1,329% |
| Profit (loss) for the period before taxes | 9903 | €205,762 | €198,189 | -€7,573 | -3.7% |
| Income taxes | 67/77 | €63,581 | €60,613 | -€2,968 | -4.7% |
| Profit (loss) for the period | 9904 | €142,181 | €137,576 | -€4,605 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €142,181 | €137,576 | -€4,605 | -3.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.