MAHADEVA: 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.
MAHADEVA
Largest movements
- Tangible fixed assets +€55,673
up €55,673 (+4627.1%), from €1,203 to €56,876
of which Other tangible fixed assets: +€54,736
- Receivables after one year -€44,285
down €44,285 (-21.2%), from €209,285 to €165,000
of which Trade receivables: -€209,285
- Receivables within one year +€21,201
up €21,201 (+103.4%), from €20,500 to €41,701
of which Other amounts receivable: +€37,961
- Financial fixed assets -€5,000
no longer reported in 2025 (was €5,000)
- Cash +€3,952
up €3,952 (+124.6%), from €3,172 to €7,124
mainly Receivables after one year (+€44,285) and Debts after one year (+€36,417)
- Debts after one year +€36,417
new in 2025: €36,417
- Reserves -€19,677
down €19,677 (-25.2%), from €78,028 to €58,351
- Tax, wage and social debts +€9,964
up €9,964 (+188.0%), from €5,299 to €15,262
- Trade debts +€8,296
up €8,296 (+21756.1%), from €38 to €8,334
- Current portion of long-term debt +€5,724
new in 2025: €5,724
- Gross operating margin +€28,730
up €28,730 (+145.9%), from €19,693 to €48,423
- Taxes +€9,144
up €9,144 (+110.2%), from €8,299 to €17,443
- Depreciation +€2,591
up €2,591 (+1330.3%), from €195 to €2,786
- Financial charges +€1,304
up €1,304 (+668.0%), from €195 to €1,500
- Financial income +€1,291
up €1,291 (+21.6%), from €5,973 to €7,264
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 | €239,160 | €275,606 | +€36,445 | +15.2% |
| Fixed assets | 21/28 | €6,203 | €59,178 | +€52,975 | +854.0% |
| Intangible fixed assets | 21 | - | €2,302 | +€2,302 | |
| Tangible fixed assets | 22/27 | €1,203 | €56,876 | +€55,673 | +4627.1% |
| Furniture and vehicles | 24 | €1,203 | €2,140 | +€937 | +77.9% |
| Other tangible fixed assets | 26 | - | €54,736 | +€54,736 | |
| Financial fixed assets | 28 | €5,000 | - | -€5,000 | |
| Current assets | 29/58 | €232,957 | €216,427 | -€16,530 | -7.1% |
| Amounts receivable after more than one year | 29 | €209,285 | €165,000 | -€44,285 | -21.2% |
| Trade receivables | 290 | €209,285 | - | -€209,285 | |
| Other amounts receivable | 291 | - | €165,000 | +€165,000 | |
| Amounts receivable within one year | 40/41 | €20,500 | €41,701 | +€21,201 | +103.4% |
| Trade receivables | 40 | €18,000 | €1,240 | -€16,760 | -93.1% |
| Other amounts receivable | 41 | €2,500 | €40,461 | +€37,961 | +1518.4% |
| Cash at bank and in hand | 54/58 | €3,172 | €7,124 | +€3,952 | +124.6% |
| Deferred charges and accrued income | 490/1 | - | €2,602 | +€2,602 | |
| Total equity and liabilities | 10/49 | €239,160 | €275,606 | +€36,445 | +15.2% |
| Equity | 10/15 | €229,172 | €208,662 | -€20,510 | -8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €78,028 | €58,351 | -€19,677 | -25.2% |
| Distributable reserves | 133 | €78,028 | €58,351 | -€19,677 | -25.2% |
| Profit (loss) carried forward | 14 | €132,544 | €131,711 | -€833 | -0.6% |
| Amounts payable | 17/49 | €9,989 | €66,944 | +€56,955 | +570.2% |
| Amounts payable after more than one year | 17 | - | €36,417 | +€36,417 | |
| Financial debts | 170/4 | - | €36,417 | +€36,417 | |
| Amounts payable within one year | 42/48 | €9,989 | €30,526 | +€20,538 | +205.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,724 | +€5,724 | |
| Financial debts | 43 | €3,000 | - | -€3,000 | |
| Credit institutions | 430/8 | €3,000 | - | -€3,000 | |
| Trade debts | 44 | €38 | €8,334 | +€8,296 | +21756.1% |
| Suppliers | 440/4 | €38 | €8,334 | +€8,296 | +21756.1% |
| Taxes, remuneration and social security | 45 | €5,299 | €15,262 | +€9,964 | +188.0% |
| Taxes | 450/3 | €5,299 | €15,262 | +€9,964 | +188.0% |
| Other amounts payable | 47/48 | €1,652 | €1,207 | -€445 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195 | €2,786 | +€2,591 | +1330.3% |
| Other operating charges | 640/8 | €499 | €1,423 | +€923 | +184.9% |
| Gross operating margin | 9900 | €19,693 | €48,423 | +€28,730 | +145.9% |
| Operating profit (loss) | 9901 | €18,998 | €44,214 | +€25,216 | +132.7% |
| Financial income | 75/76B | €5,973 | €7,264 | +€1,291 | +21.6% |
| Recurring financial income | 75 | €5,973 | €7,264 | +€1,291 | +21.6% |
| Financial charges | 65/66B | €195 | €1,500 | +€1,304 | +668.0% |
| Recurring financial charges | 65 | €195 | €1,500 | +€1,304 | +668.0% |
| Profit (loss) for the period before taxes | 9903 | €24,776 | €49,978 | +€25,202 | +101.7% |
| Income taxes | 67/77 | €8,299 | €17,443 | +€9,144 | +110.2% |
| Profit (loss) for the period | 9904 | €16,478 | €32,535 | +€16,057 | +97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,478 | €32,535 | +€16,057 | +97.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.