Group Mahieu: 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.
What changed
Group Mahieu
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€211,087
2024 · €123,161+€87,926
Equity
€7.4m
2024 · €7.2m+€211,087
Cash
€418,672
2024 · €58,010+€360,662
Balance sheet total
€9.8m
2024 · €10.0m-€184,230
Largest movements
Assets
- Receivables within one year -€647,124
down €647,124 (-84.3%), from €767,552 to €120,427
of which Trade receivables: -€420,358
- Cash +€360,662
up €360,662 (+622%), from €58,010 to €418,672
mainly Receivables within one year (+€647,124) and Net result for the year (+€211,087)
Equity and liabilities
- Reserves +€6.0m
up €6.0m (+4,806%), from €125,000 to €6.1m
- Profit (loss) carried forward -€5.8m
no longer reported in 2025 (was €5.8m)
- Other debts -€270,738
down €270,738 (-13.0%), from €2.1m to €1.8m
- Debts after one year -€100,476
down €100,476 (-50.0%), from €200,952 to €100,476
Income statement
- Staff costs -€189,324
down €189,324 (-32.7%), from €579,087 to €389,763
- Financial income -€88,726
down €88,726 (-91.4%), from €97,030 to €8,303
- Taxes +€63,374
up €63,374 (+300%), from €21,099 to €84,474
- Turnover +€28,391
up €28,391 (+1.4%), from €2.0m to €2.0m
- Services and other goods -€21,504
down €21,504 (-1.7%), from €1.2m to €1.2m
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.
Result 2024
€123,161
Turnover
+€28,391
Other operating income
-€14,537
Services and other goods
+€21,504
Staff costs
+€189,324
Depreciation
+€4,064
Other operating charges
+€5,889
Financial income
-€88,726
Financial charges
+€5,393
Taxes
-€63,374
Result 2025
€211,087
raises the resultlowers the result
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.
From operations
+€451,000
Investment
€0
Financing
-€90,338
Cash 2024
€58,010
From operations (derived)
+€451,000
Net result for the year
+€211,087
Depreciation
+€5,698
Receivables after one year
-€53,189
Receivables within one year
+€647,124
Deferred charges and accrued income
-€54,742
Trade debts
-€25,275
Tax, wage and social debts
+€89,480
Other debts
-€270,738
Accrued charges and deferred income
-€98,446
Financing
-€90,338
Debts after one year
-€100,476
Short-term financial debts
+€10,138
Cash 2025
€418,672
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,026,968 | €9,842,738 | -€184,230 | -1.8% |
| Fixed assets | 21/28 | €9,086,743 | €9,081,045 | -€5,698 | -0.1% |
| Intangible fixed assets | 21 | €7,322 | €2,208 | -€5,114 | -69.8% |
| Tangible fixed assets | 22/27 | €2,656 | €2,072 | -€584 | -22.0% |
| Plant, machinery and equipment | 23 | €279 | - | -€279 | |
| Other tangible fixed assets | 26 | €2,376 | €2,072 | -€305 | -12.8% |
| Financial fixed assets | 28 | €9,076,766 | €9,076,766 | = | 0.0% |
| Affiliated companies | 280/1 | €9,076,766 | €9,076,766 | = | 0.0% |
| Participating interests | 280 | €9,076,766 | €9,076,766 | = | 0.0% |
| Current assets | 29/58 | €940,225 | €761,693 | -€178,532 | -19.0% |
| Amounts receivable after more than one year | 29 | €43,038 | €96,227 | +€53,189 | +124% |
| Other amounts receivable | 291 | €43,038 | €96,227 | +€53,189 | +124% |
| Amounts receivable within one year | 40/41 | €767,552 | €120,427 | -€647,124 | -84.3% |
| Trade receivables | 40 | €420,358 | - | -€420,358 | |
| Other amounts receivable | 41 | €347,194 | €120,427 | -€226,767 | -65.3% |
| Cash at bank and in hand | 54/58 | €58,010 | €418,672 | +€360,662 | +622% |
| Deferred charges and accrued income | 490/1 | €71,625 | €126,367 | +€54,742 | +76.4% |
| Total equity and liabilities | 10/49 | €10,026,968 | €9,842,738 | -€184,230 | -1.8% |
| Equity | 10/15 | €7,171,975 | €7,383,063 | +€211,087 | +2.9% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €125,000 | €6,133,063 | +€6.0m | +4,806% |
| Distributable reserves | 133 | €125,000 | €6,133,063 | +€6.0m | +4,806% |
| Profit (loss) carried forward | 14 | €5,796,975 | - | -€5.8m | |
| Amounts payable | 17/49 | €2,854,993 | €2,459,676 | -€395,317 | -13.8% |
| Amounts payable after more than one year | 17 | €200,952 | €100,476 | -€100,476 | -50.0% |
| Financial debts | 170/4 | €200,952 | €100,476 | -€100,476 | -50.0% |
| Credit institutions | 173 | €200,952 | €100,476 | -€100,476 | -50.0% |
| Amounts payable within one year | 42/48 | €2,555,569 | €2,359,174 | -€196,395 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €100,476 | €100,476 | = | 0.0% |
| Financial debts | 43 | - | €10,138 | +€10,138 | |
| Credit institutions | 430/8 | - | €10,138 | +€10,138 | |
| Trade debts | 44 | €106,801 | €81,526 | -€25,275 | -23.7% |
| Suppliers | 440/4 | €106,801 | €81,526 | -€25,275 | -23.7% |
| Taxes, remuneration and social security | 45 | €266,152 | €355,632 | +€89,480 | +33.6% |
| Taxes | 450/3 | €185,221 | €290,504 | +€105,282 | +56.8% |
| Remuneration and social security | 454/9 | €80,931 | €65,129 | -€15,802 | -19.5% |
| Other amounts payable | 47/48 | €2,082,139 | €1,811,401 | -€270,738 | -13.0% |
| Accrued charges and deferred income | 492/3 | €98,472 | €26 | -€98,446 | -100.0% |
| Operating income | 70/76A | €2,017,160 | €2,031,014 | +€13,854 | +0.7% |
| Turnover | 70 | €1,980,000 | €2,008,391 | +€28,391 | +1.4% |
| Other operating income | 74 | €37,160 | €22,623 | -€14,537 | -39.1% |
| Operating charges | 60/66A | €1,833,491 | €1,612,710 | -€220,781 | -12.0% |
| Services and other goods | 61 | €1,235,715 | €1,214,211 | -€21,504 | -1.7% |
| Remuneration, social security and pensions | 62 | €579,087 | €389,763 | -€189,324 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,762 | €5,698 | -€4,064 | -41.6% |
| Other operating charges | 640/8 | €8,927 | €3,039 | -€5,889 | -66.0% |
| Operating profit (loss) | 9901 | €183,669 | €418,303 | +€234,634 | +128% |
| Financial income | 75/76B | €97,030 | €8,303 | -€88,726 | -91.4% |
| Recurring financial income | 75 | €97,030 | €8,303 | -€88,726 | -91.4% |
| Income from financial fixed assets | 750 | €90,000 | €8,288 | -€81,712 | -90.8% |
| Income from current assets | 751 | - | €15 | +€15 | |
| Other financial income | 752/9 | €7,030 | - | -€7,030 | |
| Financial charges | 65/66B | €136,438 | €131,046 | -€5,393 | -4.0% |
| Recurring financial charges | 65 | €136,438 | €131,046 | -€5,393 | -4.0% |
| Debt charges | 650 | €135,966 | €130,069 | -€5,897 | -4.3% |
| Other financial charges | 652/9 | €472 | €977 | +€504 | +107% |
| Profit (loss) for the period before taxes | 9903 | €144,260 | €295,561 | +€151,301 | +105% |
| Income taxes | 67/77 | €21,099 | €84,474 | +€63,374 | +300% |
| Taxes | 670/3 | €21,099 | €84,474 | +€63,374 | +300% |
| Profit (loss) for the period | 9904 | €123,161 | €211,087 | +€87,926 | +71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €123,161 | €211,087 | +€87,926 | +71.4% |
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 18 October 2026 via checked.be.