I-MAHAU: 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.
I-MAHAU
Largest movements
- Cash +€13,709
up €13,709 (+138%), from €9,944 to €23,653
mainly Net result for the year (+€21,777) and Depreciation (+€11,159)
- Tangible fixed assets -€8,738
down €8,738 (-21.8%), from €40,035 to €31,297
of which Furniture and vehicles: -€7,711
- Receivables within one year +€3,732
up €3,732 (+21.1%), from €17,652 to €21,385
of which Trade receivables: +€4,235
- Reserves +€20,111
up €20,111 (+115%), from €17,472 to €37,583
- Other debts -€8,635
down €8,635 (-55.4%), from €15,585 to €6,950
- Debts after one year -€1,985
down €1,985 (-30.6%), from €6,482 to €4,497
- Trade debts -€1,166
down €1,166 (-20.0%), from €5,816 to €4,650
- Gross operating margin -€17,874
down €17,874 (-27.9%), from €64,100 to €46,225
- Taxes -€2,711
down €2,711 (-18.6%), from €14,543 to €11,832
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 | €68,362 | €76,536 | +€8,175 | +12.0% |
| Fixed assets | 21/28 | €40,035 | €31,297 | -€8,738 | -21.8% |
| Tangible fixed assets | 22/27 | €40,035 | €31,297 | -€8,738 | -21.8% |
| Land and buildings | 22 | €712 | €356 | -€356 | -50.0% |
| Plant, machinery and equipment | 23 | €1,522 | €851 | -€671 | -44.1% |
| Furniture and vehicles | 24 | €37,801 | €30,090 | -€7,711 | -20.4% |
| Current assets | 29/58 | €28,327 | €45,239 | +€16,912 | +59.7% |
| Amounts receivable within one year | 40/41 | €17,652 | €21,385 | +€3,732 | +21.1% |
| Trade receivables | 40 | €12,289 | €16,524 | +€4,235 | +34.5% |
| Other amounts receivable | 41 | €5,364 | €4,861 | -€503 | -9.4% |
| Cash at bank and in hand | 54/58 | €9,944 | €23,653 | +€13,709 | +138% |
| Deferred charges and accrued income | 490/1 | €730 | €202 | -€529 | -72.4% |
| Total equity and liabilities | 10/49 | €68,362 | €76,536 | +€8,175 | +12.0% |
| Equity | 10/15 | €36,148 | €56,259 | +€20,111 | +55.6% |
| Contributions | 10/11 | €18,675 | €18,675 | = | 0.0% |
| Reserves | 13 | €17,472 | €37,583 | +€20,111 | +115% |
| Distributable reserves | 133 | €17,472 | €37,583 | +€20,111 | +115% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €32,214 | €20,278 | -€11,937 | -37.1% |
| Amounts payable after more than one year | 17 | €6,482 | €4,497 | -€1,985 | -30.6% |
| Financial debts | 170/4 | €6,482 | €4,497 | -€1,985 | -30.6% |
| Amounts payable within one year | 42/48 | €25,171 | €15,122 | -€10,049 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €1,881 | €1,985 | +€104 | +5.5% |
| Trade debts | 44 | €5,816 | €4,650 | -€1,166 | -20.0% |
| Suppliers | 440/4 | €5,816 | €4,650 | -€1,166 | -20.0% |
| Taxes, remuneration and social security | 45 | €1,889 | €1,536 | -€353 | -18.7% |
| Taxes | 450/3 | €1,536 | €1,536 | = | 0.0% |
| Remuneration and social security | 454/9 | €353 | €0 | -€353 | -100% |
| Other amounts payable | 47/48 | €15,585 | €6,950 | -€8,635 | -55.4% |
| Accrued charges and deferred income | 492/3 | €561 | €659 | +€98 | +17.5% |
| Non-recurring operating income | 76A | €15,119 | €0 | -€15,119 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,637 | €11,159 | -€477 | -4.1% |
| Other operating charges | 640/8 | €288 | €923 | +€634 | +220% |
| Gross operating margin | 9900 | €64,100 | €46,225 | -€17,874 | -27.9% |
| Operating profit (loss) | 9901 | €52,175 | €34,143 | -€18,032 | -34.6% |
| Financial income | 75/76B | €24 | €58 | +€34 | +139% |
| Recurring financial income | 75 | €24 | €58 | +€34 | +139% |
| Financial charges | 65/66B | €686 | €593 | -€93 | -13.6% |
| Recurring financial charges | 65 | €686 | €593 | -€93 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €51,513 | €33,609 | -€17,905 | -34.8% |
| Income taxes | 67/77 | €14,543 | €11,832 | -€2,711 | -18.6% |
| Profit (loss) for the period | 9904 | €36,971 | €21,777 | -€15,193 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,971 | €21,777 | -€15,193 | -41.1% |
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 31 October 2026 via checked.be.