MAHAVI: what changed
Two fiscal 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.
MAHAVI
Largest movements
- Cash +€15,224
up €15,224 (+183.3%), from €8,308 to €23,531
mainly Net result for the year (+€21,105) and Trade debts (+€17,599)
- Receivables within one year +€3,970
up €3,970 (+18.4%), from €21,564 to €25,534
of which Trade receivables: +€6,444
- Deferred charges and accrued income -€1,198
down €1,198 (-30.2%), from €3,971 to €2,772
- Profit (loss) carried forward +€21,105
up €21,105 (+56.1%), from -€37,630 to -€16,525
- Trade debts +€17,599
up €17,599 (+315.8%), from €5,573 to €23,172
- Current portion of long-term debt -€12,321
no longer reported in 2025 (was €12,321)
- Tax, wage and social debts -€9,350
down €9,350 (-56.8%), from €16,474 to €7,124
of which Taxes: -€9,683
- Depreciation -€15,497
down €15,497 (-69.7%), from €22,229 to €6,732
- Gross operating margin +€9,316
up €9,316 (+38.8%), from €24,004 to €33,320
- Staff costs -€4,668
down €4,668 (-52.6%), from €8,878 to €4,210
- Financial charges -€1,027
down €1,027 (-72.1%), from €1,425 to €398
- Other operating charges -€460
down €460 (-36.7%), from €1,253 to €793
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 | €63,346 | €81,180 | +€17,833 | +28.2% |
| Fixed assets | 21/28 | €29,504 | €29,342 | -€162 | -0.5% |
| Tangible fixed assets | 22/27 | €29,504 | €29,342 | -€162 | -0.5% |
| Plant, machinery and equipment | 23 | €1,356 | €1,187 | -€170 | -12.5% |
| Furniture and vehicles | 24 | €5,236 | €8,913 | +€3,677 | +70.2% |
| Other tangible fixed assets | 26 | €22,912 | €19,242 | -€3,670 | -16.0% |
| Current assets | 29/58 | €33,842 | €51,838 | +€17,996 | +53.2% |
| Amounts receivable within one year | 40/41 | €21,564 | €25,534 | +€3,970 | +18.4% |
| Trade receivables | 40 | €14,648 | €21,092 | +€6,444 | +44.0% |
| Other amounts receivable | 41 | €6,916 | €4,442 | -€2,474 | -35.8% |
| Cash at bank and in hand | 54/58 | €8,308 | €23,531 | +€15,224 | +183.3% |
| Deferred charges and accrued income | 490/1 | €3,971 | €2,772 | -€1,198 | -30.2% |
| Total equity and liabilities | 10/49 | €63,346 | €81,180 | +€17,833 | +28.2% |
| Equity | 10/15 | €28,977 | €50,083 | +€21,105 | +72.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,408 | €60,408 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,672 | €9,672 | = | 0.0% |
| Distributable reserves | 133 | €50,736 | €50,736 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,630 | -€16,525 | +€21,105 | +56.1% |
| Amounts payable | 17/49 | €34,369 | €31,097 | -€3,272 | -9.5% |
| Amounts payable within one year | 42/48 | €34,369 | €31,097 | -€3,272 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €12,321 | - | -€12,321 | |
| Trade debts | 44 | €5,573 | €23,172 | +€17,599 | +315.8% |
| Suppliers | 440/4 | €5,573 | €23,172 | +€17,599 | +315.8% |
| Taxes, remuneration and social security | 45 | €16,474 | €7,124 | -€9,350 | -56.8% |
| Taxes | 450/3 | €15,807 | €6,124 | -€9,683 | -61.3% |
| Remuneration and social security | 454/9 | €668 | €1,001 | +€333 | +49.9% |
| Other amounts payable | 47/48 | - | €801 | +€801 | |
| Remuneration, social security and pensions | 62 | €8,878 | €4,210 | -€4,668 | -52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,229 | €6,732 | -€15,497 | -69.7% |
| Other operating charges | 640/8 | €1,253 | €793 | -€460 | -36.7% |
| Gross operating margin | 9900 | €24,004 | €33,320 | +€9,316 | +38.8% |
| Operating profit (loss) | 9901 | -€8,356 | €21,585 | +€29,941 | |
| Financial charges | 65/66B | €1,425 | €398 | -€1,027 | -72.1% |
| Recurring financial charges | 65 | €1,425 | €398 | -€1,027 | -72.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,781 | €21,187 | +€30,968 | |
| Income taxes | 67/77 | €134 | €82 | -€52 | -38.9% |
| Profit (loss) for the period | 9904 | -€9,915 | €21,105 | +€31,020 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,915 | €21,105 | +€31,020 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.