K-MAHIEU CONSTRUCT: 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.
K-MAHIEU CONSTRUCT
Largest movements
- Receivables within one year +€38,687
up €38,687 (+113%), from €34,284 to €72,971
of which Trade receivables: +€40,582
- Tangible fixed assets -€22,855
down €22,855 (-50.9%), from €44,919 to €22,065
of which Furniture and vehicles: -€26,279
- Cash -€20,026
down €20,026 (-59.1%), from €33,901 to €13,875
mainly Receivables within one year (-€38,687) and Debts after one year (-€16,735)
- Deferred charges and accrued income -€1,303
down €1,303 (-47.3%), from €2,751 to €1,449
- Other debts +€26,665
up €26,665 (+46.5%), from €57,284 to €83,949
- Debts after one year -€16,735
down €16,735 (-76.3%), from €21,933 to €5,198
- Trade debts -€10,634
down €10,634 (-13.2%), from €80,511 to €69,877
- Current portion of long-term debt -€7,006
down €7,006 (-48.3%), from €14,498 to €7,492
- Profit (loss) carried forward +€3,516
up €3,516 (+4.8%), from -€73,704 to -€70,188
- Staff costs -€142,237
down €142,237 (-45.4%), from €313,004 to €170,767
- Gross operating margin -€14,363
down €14,363 (-7.0%), from €205,688 to €191,325
- Depreciation -€7,750
down €7,750 (-34.8%), from €22,276 to €14,527
- Financial charges -€2,248
down €2,248 (-64.4%), from €3,493 to €1,245
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 | €117,948 | €112,452 | -€5,496 | -4.7% |
| Fixed assets | 21/28 | €47,013 | €24,158 | -€22,855 | -48.6% |
| Tangible fixed assets | 22/27 | €44,919 | €22,065 | -€22,855 | -50.9% |
| Land and buildings | 22 | €4,669 | €4,375 | -€295 | -6.3% |
| Plant, machinery and equipment | 23 | - | €3,719 | +€3,719 | |
| Furniture and vehicles | 24 | €40,250 | €13,971 | -€26,279 | -65.3% |
| Financial fixed assets | 28 | €2,093 | €2,093 | = | 0.0% |
| Current assets | 29/58 | €70,936 | €88,294 | +€17,358 | +24.5% |
| Amounts receivable within one year | 40/41 | €34,284 | €72,971 | +€38,687 | +113% |
| Trade receivables | 40 | €27,634 | €68,216 | +€40,582 | +147% |
| Other amounts receivable | 41 | €6,649 | €4,755 | -€1,895 | -28.5% |
| Cash at bank and in hand | 54/58 | €33,901 | €13,875 | -€20,026 | -59.1% |
| Deferred charges and accrued income | 490/1 | €2,751 | €1,449 | -€1,303 | -47.3% |
| Total equity and liabilities | 10/49 | €117,948 | €112,452 | -€5,496 | -4.7% |
| Equity | 10/15 | -€59,444 | -€55,928 | +€3,516 | +5.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,704 | -€70,188 | +€3,516 | +4.8% |
| Amounts payable | 17/49 | €177,392 | €168,380 | -€9,012 | -5.1% |
| Amounts payable after more than one year | 17 | €21,933 | €5,198 | -€16,735 | -76.3% |
| Financial debts | 170/4 | €21,933 | €5,198 | -€16,735 | -76.3% |
| Amounts payable within one year | 42/48 | €155,459 | €163,182 | +€7,723 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €14,498 | €7,492 | -€7,006 | -48.3% |
| Trade debts | 44 | €80,511 | €69,877 | -€10,634 | -13.2% |
| Suppliers | 440/4 | €80,511 | €69,877 | -€10,634 | -13.2% |
| Taxes, remuneration and social security | 45 | €3,165 | €1,864 | -€1,302 | -41.1% |
| Taxes | 450/3 | €3,165 | €1,864 | -€1,302 | -41.1% |
| Other amounts payable | 47/48 | €57,284 | €83,949 | +€26,665 | +46.5% |
| Non-recurring operating income | 76A | - | €6,575 | +€6,575 | |
| Remuneration, social security and pensions | 62 | €313,004 | €170,767 | -€142,237 | -45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,276 | €14,527 | -€7,750 | -34.8% |
| Other operating charges | 640/8 | €1,557 | €786 | -€771 | -49.5% |
| Gross operating margin | 9900 | €205,688 | €191,325 | -€14,363 | -7.0% |
| Operating profit (loss) | 9901 | -€131,149 | €5,246 | +€136,395 | |
| Financial income | 75/76B | €106 | €34 | -€72 | -67.7% |
| Recurring financial income | 75 | €106 | €34 | -€72 | -67.7% |
| Financial charges | 65/66B | €3,493 | €1,245 | -€2,248 | -64.4% |
| Recurring financial charges | 65 | €3,493 | €1,245 | -€2,248 | -64.4% |
| Profit (loss) for the period before taxes | 9903 | -€134,536 | €4,035 | +€138,571 | |
| Income taxes | 67/77 | €1,825 | €519 | -€1,305 | -71.5% |
| Profit (loss) for the period | 9904 | -€136,361 | €3,516 | +€139,876 | |
| Profit (loss) for the period to be appropriated | 9905 | -€136,361 | €3,516 | +€139,876 |
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 15 October 2026 via checked.be.