MAHAMA: 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.
MAHAMA
Largest movements
- Receivables within one year +€137,298
up €137,298 (+98.5%), from €139,353 to €276,651
- Other debts +€92,078
up €92,078 (+455%), from €20,225 to €112,302
- Provisions +€39,502
up €39,502 (+2.1%), from €1.9m to €2.0m
- Financial charges +€2,905
up €2,905 (+2.3%), from €126,289 to €129,194
- Gross operating margin +€1,443
up €1,443 (+1.2%), from €125,255 to €126,698
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 | €1,980,781 | €2,103,847 | +€123,066 | +6.2% |
| Fixed assets | 21/28 | €1,825,626 | €1,825,626 | = | 0.0% |
| Financial fixed assets | 28 | €1,825,626 | €1,825,626 | = | 0.0% |
| Current assets | 29/58 | €155,155 | €278,221 | +€123,066 | +79.3% |
| Amounts receivable within one year | 40/41 | €139,353 | €276,651 | +€137,298 | +98.5% |
| Trade receivables | 40 | €139,353 | €276,651 | +€137,298 | +98.5% |
| Cash at bank and in hand | 54/58 | €15,802 | €1,570 | -€14,232 | -90.1% |
| Total equity and liabilities | 10/49 | €1,980,781 | €2,103,847 | +€123,066 | +6.2% |
| Equity | 10/15 | €16,385 | €16,247 | -€139 | -0.8% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,785 | €12,647 | -€139 | -1.1% |
| Provisions and deferred taxes | 16 | €1,922,333 | €1,961,835 | +€39,502 | +2.1% |
| Provisions for liabilities and charges | 160/5 | €1,922,333 | €1,961,835 | +€39,502 | +2.1% |
| Other liabilities and charges | 164/5 | €1,922,333 | €1,961,835 | +€39,502 | +2.1% |
| Amounts payable | 17/49 | €42,062 | €125,766 | +€83,703 | +199% |
| Amounts payable within one year | 42/48 | €42,062 | €125,766 | +€83,703 | +199% |
| Trade debts | 44 | €8,946 | €6,072 | -€2,874 | -32.1% |
| Suppliers | 440/4 | €8,946 | €6,072 | -€2,874 | -32.1% |
| Taxes, remuneration and social security | 45 | €12,892 | €7,391 | -€5,501 | -42.7% |
| Taxes | 450/3 | €12,892 | €7,391 | -€5,501 | -42.7% |
| Other amounts payable | 47/48 | €20,225 | €112,302 | +€92,078 | +455% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | €125,255 | €126,698 | +€1,443 | +1.2% |
| Operating profit (loss) | 9901 | €124,169 | €125,580 | +€1,410 | +1.1% |
| Financial income | 75/76B | €3,658 | €3,960 | +€302 | +8.2% |
| Recurring financial income | 75 | €3,658 | €3,960 | +€302 | +8.2% |
| Financial charges | 65/66B | €126,289 | €129,194 | +€2,905 | +2.3% |
| Recurring financial charges | 65 | €126,289 | €129,194 | +€2,905 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €1,539 | €346 | -€1,193 | -77.5% |
| Income taxes | 67/77 | €687 | €485 | -€203 | -29.5% |
| Profit (loss) for the period | 9904 | €852 | -€139 | -€990 | |
| Profit (loss) for the period to be appropriated | 9905 | €852 | -€139 | -€990 |
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 28 October 2026 via checked.be.