MNH: 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.
MNH
Largest movements
- Cash +€19,181
up €19,181 (+661.1%), from €2,901 to €22,083
mainly Net result for the year (+€62,226) and Tax, wage and social debts (+€5,346)
- Receivables within one year +€3,441
up €3,441 (+1137.4%), from €303 to €3,743
of which Trade receivables: +€3,388
- Tangible fixed assets +€2,172
new in 2025: €2,172
- Deferred charges and accrued income +€775
new in 2025: €775
- Profit (loss) carried forward +€62,226
up €62,226 (+35.5%), from -€175,066 to -€112,840
- Other debts -€42,254
down €42,254 (-34.4%), from €122,847 to €80,593
- Tax, wage and social debts +€5,346
up €5,346 (+190.1%), from €2,812 to €8,157
- Gross operating margin +€67,744
up €67,744 (+610.5%), from €11,097 to €78,841
- Staff costs +€11,668
new in 2025: €11,668
- Provisions +€5,017
no longer reported in 2025 (was -€5,017)
- Taxes +€3,474
new in 2025: €3,474
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 | €13,204 | €38,773 | +€25,569 | +193.7% |
| Fixed assets | 21/28 | - | €2,172 | +€2,172 | |
| Tangible fixed assets | 22/27 | - | €2,172 | +€2,172 | |
| Furniture and vehicles | 24 | - | €2,172 | +€2,172 | |
| Current assets | 29/58 | €13,204 | €36,601 | +€23,397 | +177.2% |
| Amounts receivable within one year | 40/41 | €303 | €3,743 | +€3,441 | +1137.4% |
| Trade receivables | 40 | €303 | €3,691 | +€3,388 | +1120.0% |
| Other amounts receivable | 41 | - | €53 | +€53 | |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,901 | €22,083 | +€19,181 | +661.1% |
| Deferred charges and accrued income | 490/1 | - | €775 | +€775 | |
| Total equity and liabilities | 10/49 | €13,204 | €38,773 | +€25,569 | +193.7% |
| Equity | 10/15 | -€113,566 | -€51,340 | +€62,226 | +54.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€175,066 | -€112,840 | +€62,226 | +35.5% |
| Amounts payable | 17/49 | €126,769 | €90,113 | -€36,657 | -28.9% |
| Amounts payable within one year | 42/48 | €126,769 | €90,113 | -€36,657 | -28.9% |
| Trade debts | 44 | €1,111 | €1,362 | +€251 | +22.6% |
| Suppliers | 440/4 | €1,111 | €1,362 | +€251 | +22.6% |
| Taxes, remuneration and social security | 45 | €2,812 | €8,157 | +€5,346 | +190.1% |
| Taxes | 450/3 | €2,812 | €8,157 | +€5,346 | +190.1% |
| Other amounts payable | 47/48 | €122,847 | €80,593 | -€42,254 | -34.4% |
| Remuneration, social security and pensions | 62 | - | €11,668 | +€11,668 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €396 | +€396 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,017 | - | +€5,017 | |
| Other operating charges | 640/8 | €387 | €1,049 | +€662 | +170.9% |
| Gross operating margin | 9900 | €11,097 | €78,841 | +€67,744 | +610.5% |
| Operating profit (loss) | 9901 | €15,726 | €65,727 | +€50,001 | +317.9% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €24 | €41 | +€17 | +73.1% |
| Recurring financial charges | 65 | €24 | €41 | +€17 | +73.1% |
| Profit (loss) for the period before taxes | 9903 | €15,703 | €65,700 | +€49,997 | +318.4% |
| Income taxes | 67/77 | - | €3,474 | +€3,474 | |
| Profit (loss) for the period | 9904 | €15,703 | €62,226 | +€46,523 | +296.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,703 | €62,226 | +€46,523 | +296.3% |
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 3 October 2026 via checked.be.