MAHACO: 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.
MAHACO
Largest movements
- Receivables within one year +€14,705
up €14,705 (+314.8%), from €4,671 to €19,375
of which Other amounts receivable: +€16,303
- Receivables after one year -€13,008
no longer reported in 2025 (was €13,008)
- Tangible fixed assets +€7,859
up €7,859 (+321.2%), from €2,446 to €10,306
of which Furniture and vehicles: +€5,120
- Cash -€3,806
down €3,806 (-32.1%), from €11,852 to €8,046
mainly Receivables within one year (-€14,705) and Investment in fixed assets (net) (-€8,907)
- Deferred charges and accrued income +€411
new in 2025: €411
- Profit (loss) carried forward +€7,210
no longer reported in 2025 (was -€7,210)
- Other debts -€4,095
no longer reported in 2025 (was €4,095)
- Reserves +€2,913
up €2,913 (+16.5%), from €17,708 to €20,621
- Accrued charges and deferred income -€1,580
down €1,580 (-88.1%), from €1,793 to €213
- Trade debts +€1,071
up €1,071 (+27.7%), from €3,863 to €4,934
- Gross operating margin +€10,822
up €10,822 (+213.3%), from €5,074 to €15,896
- Taxes +€3,162
new in 2025: €3,162
- Depreciation +€791
up €791 (+307.8%), from €257 to €1,048
- Financial income -€627
down €627 (-65.8%), from €952 to €326
- Financial charges -€466
down €466 (-24.8%), from €1,880 to €1,413
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 | €31,976 | €38,137 | +€6,161 | +19.3% |
| Fixed assets | 21/28 | €2,446 | €10,306 | +€7,859 | +321.2% |
| Tangible fixed assets | 22/27 | €2,446 | €10,306 | +€7,859 | +321.2% |
| Land and buildings | 22 | €1,377 | €4,116 | +€2,739 | +198.9% |
| Furniture and vehicles | 24 | €1,069 | €6,189 | +€5,120 | +478.8% |
| Current assets | 29/58 | €29,530 | €27,832 | -€1,698 | -5.7% |
| Amounts receivable after more than one year | 29 | €13,008 | - | -€13,008 | |
| Other amounts receivable | 291 | €13,008 | - | -€13,008 | |
| Amounts receivable within one year | 40/41 | €4,671 | €19,375 | +€14,705 | +314.8% |
| Trade receivables | 40 | €1,598 | - | -€1,598 | |
| Other amounts receivable | 41 | €3,072 | €19,375 | +€16,303 | +530.7% |
| Cash at bank and in hand | 54/58 | €11,852 | €8,046 | -€3,806 | -32.1% |
| Deferred charges and accrued income | 490/1 | - | €411 | +€411 | |
| Total equity and liabilities | 10/49 | €31,976 | €38,137 | +€6,161 | +19.3% |
| Equity | 10/15 | €20,498 | €30,621 | +€10,123 | +49.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €17,708 | €20,621 | +€2,913 | +16.5% |
| Distributable reserves | 133 | €17,708 | €20,621 | +€2,913 | +16.5% |
| Profit (loss) carried forward | 14 | -€7,210 | - | +€7,210 | |
| Amounts payable | 17/49 | €11,478 | €7,516 | -€3,961 | -34.5% |
| Amounts payable within one year | 42/48 | €9,685 | €7,303 | -€2,382 | -24.6% |
| Financial debts | 43 | €2 | - | -€2 | |
| Credit institutions | 430/8 | €2 | - | -€2 | |
| Trade debts | 44 | €3,863 | €4,934 | +€1,071 | +27.7% |
| Suppliers | 440/4 | €3,863 | €4,934 | +€1,071 | +27.7% |
| Taxes, remuneration and social security | 45 | €1,724 | €2,369 | +€644 | +37.4% |
| Taxes | 450/3 | €1,724 | €2,369 | +€644 | +37.4% |
| Other amounts payable | 47/48 | €4,095 | - | -€4,095 | |
| Accrued charges and deferred income | 492/3 | €1,793 | €213 | -€1,580 | -88.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257 | €1,048 | +€791 | +307.8% |
| Other operating charges | 640/8 | €387 | €476 | +€88 | +22.8% |
| Gross operating margin | 9900 | €5,074 | €15,896 | +€10,822 | +213.3% |
| Operating profit (loss) | 9901 | €4,429 | €14,373 | +€9,943 | +224.5% |
| Financial income | 75/76B | €952 | €326 | -€627 | -65.8% |
| Recurring financial income | 75 | €952 | €326 | -€627 | -65.8% |
| Financial charges | 65/66B | €1,880 | €1,413 | -€466 | -24.8% |
| Recurring financial charges | 65 | €1,880 | €1,413 | -€466 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €3,502 | €13,285 | +€9,783 | +279.4% |
| Income taxes | 67/77 | - | €3,162 | +€3,162 | |
| Profit (loss) for the period | 9904 | €3,502 | €10,123 | +€6,621 | +189.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,502 | €10,123 | +€6,621 | +189.1% |
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 12 October 2026 via checked.be.