MAHAIM MANAGEMENT: 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.
MAHAIM MANAGEMENT
Largest movements
- Cash +€21,548
up €21,548 (+50.4%), from €42,723 to €64,270
mainly Net result for the year (+€10,865) and Receivables within one year (+€8,108)
- Receivables within one year -€8,108
no longer reported in 2025 (was €8,108)
- Reserves +€10,865
up €10,865 (+44.6%), from €24,343 to €35,208
- Tax, wage and social debts +€4,135
up €4,135 (+22.1%), from €18,700 to €22,835
of which Taxes: +€7,135
- Trade debts -€2,328
down €2,328 (-94.3%), from €2,468 to €140
- Accrued charges and deferred income +€921
up €921 (+39.5%), from €2,328 to €3,249
- Gross operating margin -€15,121
down €15,121 (-40.6%), from €37,208 to €22,086
- Taxes -€5,302
down €5,302 (-45.5%), from €11,644 to €6,342
- Other operating charges +€2,060
up €2,060 (+158%), from €1,307 to €3,367
- Financial charges +€1,913
up €1,913 (+123,416%), from €2 to €1,915
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 | €51,160 | €65,050 | +€13,890 | +27.1% |
| Current assets | 29/58 | €51,160 | €65,050 | +€13,890 | +27.1% |
| Amounts receivable within one year | 40/41 | €8,108 | - | -€8,108 | |
| Trade receivables | 40 | €8,108 | - | -€8,108 | |
| Cash at bank and in hand | 54/58 | €42,723 | €64,270 | +€21,548 | +50.4% |
| Deferred charges and accrued income | 490/1 | €329 | €780 | +€450 | +137% |
| Total equity and liabilities | 10/49 | €51,160 | €65,050 | +€13,890 | +27.1% |
| Equity | 10/15 | €27,343 | €38,208 | +€10,865 | +39.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €24,343 | €35,208 | +€10,865 | +44.6% |
| Distributable reserves | 133 | €24,343 | €35,208 | +€10,865 | +44.6% |
| Amounts payable | 17/49 | €23,817 | €26,842 | +€3,025 | +12.7% |
| Amounts payable within one year | 42/48 | €21,489 | €23,593 | +€2,104 | +9.8% |
| Trade debts | 44 | €2,468 | €140 | -€2,328 | -94.3% |
| Suppliers | 440/4 | €2,468 | €140 | -€2,328 | -94.3% |
| Taxes, remuneration and social security | 45 | €18,700 | €22,835 | +€4,135 | +22.1% |
| Taxes | 450/3 | €15,700 | €22,835 | +€7,135 | +45.4% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €321 | €618 | +€298 | +92.7% |
| Accrued charges and deferred income | 492/3 | €2,328 | €3,249 | +€921 | +39.5% |
| Other operating charges | 640/8 | €1,307 | €3,367 | +€2,060 | +158% |
| Gross operating margin | 9900 | €37,208 | €22,086 | -€15,121 | -40.6% |
| Operating profit (loss) | 9901 | €35,901 | €18,720 | -€17,181 | -47.9% |
| Financial income | 75/76B | €88 | €402 | +€314 | +359% |
| Recurring financial income | 75 | €88 | €402 | +€314 | +359% |
| Financial charges | 65/66B | €2 | €1,915 | +€1,913 | +123,416% |
| Recurring financial charges | 65 | €2 | €1,915 | +€1,913 | +123,416% |
| Profit (loss) for the period before taxes | 9903 | €35,987 | €17,207 | -€18,779 | -52.2% |
| Income taxes | 67/77 | €11,644 | €6,342 | -€5,302 | -45.5% |
| Profit (loss) for the period | 9904 | €24,343 | €10,865 | -€13,478 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,343 | €10,865 | -€13,478 | -55.4% |
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 26 October 2026 via checked.be.