MZH EVENTS: 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.
MZH EVENTS
Largest movements
- Tangible fixed assets +€98,500
new in 2025: €98,500
- Receivables within one year -€83,691
no longer reported in 2025 (was €83,691)
of which Trade receivables: -€83,383
- Cash -€1,214
down €1,214 (-10.5%), from €11,580 to €10,366
mainly Investment in fixed assets (net) (-€147,609) and Other debts (-€30,442)
- Other debts -€30,442
down €30,442 (-22.9%), from €133,138 to €102,696
- Profit (loss) carried forward +€18,665
up €18,665 (+24.8%), from -€75,308 to -€56,642
- Trade debts +€16,280
up €16,280 (+58.7%), from €27,741 to €44,021
- Tax, wage and social debts +€9,892
new in 2025: €9,892
of which Remuneration and social security: +€4,951
- Purchases and services -€143,208
no longer reported in 2025 (was €143,208)
- Gross operating margin +€88,035
up €88,035, from -€9,724 to €78,311
- Depreciation +€49,110
new in 2025: €49,110
- Staff costs +€9,428
new in 2025: €9,428
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 | €107,271 | €120,866 | +€13,595 | +12.7% |
| Fixed assets | 21/28 | €12,000 | €110,500 | +€98,500 | +821% |
| Tangible fixed assets | 22/27 | - | €98,500 | +€98,500 | |
| Furniture and vehicles | 24 | - | €98,500 | +€98,500 | |
| Financial fixed assets | 28 | €12,000 | €12,000 | = | 0.0% |
| Current assets | 29/58 | €95,271 | €10,366 | -€84,904 | -89.1% |
| Amounts receivable within one year | 40/41 | €83,691 | - | -€83,691 | |
| Trade receivables | 40 | €83,383 | - | -€83,383 | |
| Other amounts receivable | 41 | €307 | - | -€307 | |
| Cash at bank and in hand | 54/58 | €11,580 | €10,366 | -€1,214 | -10.5% |
| Total equity and liabilities | 10/49 | €107,271 | €120,866 | +€13,595 | +12.7% |
| Equity | 10/15 | -€55,308 | -€36,642 | +€18,665 | +33.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,308 | -€56,642 | +€18,665 | +24.8% |
| Amounts payable | 17/49 | €162,579 | €157,509 | -€5,070 | -3.1% |
| Amounts payable within one year | 42/48 | €162,579 | €157,509 | -€5,070 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €1,700 | €900 | -€800 | -47.1% |
| Trade debts | 44 | €27,741 | €44,021 | +€16,280 | +58.7% |
| Suppliers | 440/4 | €27,741 | €44,021 | +€16,280 | +58.7% |
| Taxes, remuneration and social security | 45 | - | €9,892 | +€9,892 | |
| Taxes | 450/3 | - | €4,941 | +€4,941 | |
| Remuneration and social security | 454/9 | - | €4,951 | +€4,951 | |
| Other amounts payable | 47/48 | €133,138 | €102,696 | -€30,442 | -22.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €143,208 | - | -€143,208 | |
| Remuneration, social security and pensions | 62 | - | €9,428 | +€9,428 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €49,110 | +€49,110 | |
| Other operating charges | 640/8 | €390 | €792 | +€401 | +103% |
| Gross operating margin | 9900 | -€9,724 | €78,311 | +€88,035 | |
| Operating profit (loss) | 9901 | -€10,114 | €18,982 | +€29,096 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €382 | €317 | -€66 | -17.2% |
| Recurring financial charges | 65 | €382 | €317 | -€66 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,496 | €18,665 | +€29,162 | |
| Profit (loss) for the period | 9904 | -€10,496 | €18,665 | +€29,162 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,496 | €18,665 | +€29,162 |
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 29 October 2026 via checked.be.