MNH DRIVERS: 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.
MNH DRIVERS
Largest movements
- Tangible fixed assets -€3,555
down €3,555 (-50.1%), from €7,101 to €3,545
- Cash -€1,941
down €1,941 (-25.2%), from €7,714 to €5,773
mainly Net result for the year (-€10,944) and Trade debts (-€1,204)
- Receivables within one year -€421
no longer reported in 2025 (was €421)
- Profit (loss) carried forward -€10,944
down €10,944 (-7419.9%), from -€147 to -€11,091
- Tax, wage and social debts +€3,654
new in 2025: €3,654
- Contributions +€2,576
up €2,576 (+19.8%), from €13,024 to €15,600
- Trade debts -€1,204
down €1,204 (-51.0%), from €2,359 to €1,156
- Gross operating margin -€8,481
down €8,481, from €4,514 to -€3,967
- Depreciation -€1,042
down €1,042 (-22.7%), from €4,597 to €3,555
- Other operating charges +€232
new in 2025: €232
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 | €15,236 | €9,318 | -€5,918 | -38.8% |
| Fixed assets | 21/28 | €7,101 | €3,545 | -€3,555 | -50.1% |
| Tangible fixed assets | 22/27 | €7,101 | €3,545 | -€3,555 | -50.1% |
| Furniture and vehicles | 24 | €7,101 | €3,545 | -€3,555 | -50.1% |
| Current assets | 29/58 | €8,135 | €5,773 | -€2,362 | -29.0% |
| Amounts receivable within one year | 40/41 | €421 | - | -€421 | |
| Other amounts receivable | 41 | €421 | - | -€421 | |
| Cash at bank and in hand | 54/58 | €7,714 | €5,773 | -€1,941 | -25.2% |
| Total equity and liabilities | 10/49 | €15,236 | €9,318 | -€5,918 | -38.8% |
| Equity | 10/15 | €12,876 | €4,509 | -€8,367 | -65.0% |
| Contributions | 10/11 | €13,024 | €15,600 | +€2,576 | +19.8% |
| Profit (loss) carried forward | 14 | -€147 | -€11,091 | -€10,944 | -7419.9% |
| Amounts payable | 17/49 | €2,359 | €4,809 | +€2,450 | +103.8% |
| Amounts payable within one year | 42/48 | €2,359 | €4,809 | +€2,450 | +103.8% |
| Trade debts | 44 | €2,359 | €1,156 | -€1,204 | -51.0% |
| Suppliers | 440/4 | €2,359 | €1,156 | -€1,204 | -51.0% |
| Taxes, remuneration and social security | 45 | - | €3,654 | +€3,654 | |
| Taxes | 450/3 | - | €3,654 | +€3,654 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,597 | €3,555 | -€1,042 | -22.7% |
| Other operating charges | 640/8 | - | €232 | +€232 | |
| Non-recurring operating charges | 66A | - | €3,103 | +€3,103 | |
| Gross operating margin | 9900 | €4,514 | -€3,967 | -€8,481 | |
| Operating profit (loss) | 9901 | -€83 | -€10,858 | -€10,775 | -12913.2% |
| Financial charges | 65/66B | €64 | €85 | +€21 | +33.3% |
| Recurring financial charges | 65 | €64 | €85 | +€21 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | -€147 | -€10,944 | -€10,796 | -7319.9% |
| Profit (loss) for the period | 9904 | -€147 | -€10,944 | -€10,796 | -7319.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€147 | -€10,944 | -€10,796 | -7319.9% |
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 9 October 2026 via checked.be.