MAHDANI: 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.
MAHDANI
Largest movements
- Tangible fixed assets +€44,393
up €44,393 (+30.3%), from €146,479 to €190,872
of which Furniture and vehicles: +€33,498
- Cash +€26,539
up €26,539 (+4.2%), from €632,730 to €659,269
mainly Net result for the year (+€64,546) and Accrued charges and deferred income (+€45,000)
- Receivables within one year -€12,809
down €12,809 (-19.3%), from €66,532 to €53,723
of which Other amounts receivable: -€11,463
- Reserves +€50,000
up €50,000 (+22.7%), from €220,626 to €270,626
of which Distributable reserves: +€50,000
- Accrued charges and deferred income +€45,000
new in 2025: €45,000
- Other debts -€25,538
down €25,538 (-30.5%), from €83,630 to €58,092
- Trade debts -€16,989
down €16,989 (-9.8%), from €173,638 to €156,649
- Profit (loss) carried forward +€14,546
up €14,546 (+5.2%), from €281,399 to €295,945
- Gross operating margin -€83,276
down €83,276 (-14.1%), from €590,084 to €506,808
- Staff costs -€23,816
down €23,816 (-6.0%), from €397,477 to €373,661
- Taxes -€21,938
down €21,938 (-48.9%), from €44,839 to €22,900
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 | €852,835 | €913,136 | +€60,301 | +7.1% |
| Fixed assets | 21/28 | €146,479 | €190,872 | +€44,393 | +30.3% |
| Tangible fixed assets | 22/27 | €146,479 | €190,872 | +€44,393 | +30.3% |
| Land and buildings | 22 | €55,102 | €50,400 | -€4,702 | -8.5% |
| Plant, machinery and equipment | 23 | €48,187 | €63,783 | +€15,597 | +32.4% |
| Furniture and vehicles | 24 | €43,190 | €76,689 | +€33,498 | +77.6% |
| Current assets | 29/58 | €706,356 | €722,264 | +€15,908 | +2.3% |
| Stocks and contracts in progress | 3 | €7,094 | €9,272 | +€2,178 | +30.7% |
| Stocks | 30/36 | €7,094 | €9,272 | +€2,178 | +30.7% |
| Amounts receivable within one year | 40/41 | €66,532 | €53,723 | -€12,809 | -19.3% |
| Trade receivables | 40 | €45,375 | €44,030 | -€1,345 | -3.0% |
| Other amounts receivable | 41 | €21,156 | €9,693 | -€11,463 | -54.2% |
| Cash at bank and in hand | 54/58 | €632,730 | €659,269 | +€26,539 | +4.2% |
| Total equity and liabilities | 10/49 | €852,835 | €913,136 | +€60,301 | +7.1% |
| Equity | 10/15 | €536,110 | €600,656 | +€64,546 | +12.0% |
| Contributions | 10/11 | €34,085 | €34,085 | = | 0.0% |
| Reserves | 13 | €220,626 | €270,626 | +€50,000 | +22.7% |
| Tax-exempt reserves | 132 | €32,793 | €32,793 | = | 0.0% |
| Distributable reserves | 133 | €187,833 | €237,833 | +€50,000 | +26.6% |
| Profit (loss) carried forward | 14 | €281,399 | €295,945 | +€14,546 | +5.2% |
| Amounts payable | 17/49 | €316,725 | €312,480 | -€4,246 | -1.3% |
| Amounts payable within one year | 42/48 | €316,725 | €267,480 | -€49,246 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €14,426 | - | -€14,426 | |
| Trade debts | 44 | €173,638 | €156,649 | -€16,989 | -9.8% |
| Suppliers | 440/4 | €173,638 | €156,649 | -€16,989 | -9.8% |
| Taxes, remuneration and social security | 45 | €45,031 | €52,739 | +€7,708 | +17.1% |
| Taxes | 450/3 | €37,816 | €52,739 | +€14,923 | +39.5% |
| Remuneration and social security | 454/9 | €7,215 | - | -€7,215 | |
| Other amounts payable | 47/48 | €83,630 | €58,092 | -€25,538 | -30.5% |
| Accrued charges and deferred income | 492/3 | - | €45,000 | +€45,000 | |
| Remuneration, social security and pensions | 62 | €397,477 | €373,661 | -€23,816 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,831 | €35,418 | +€586 | +1.7% |
| Other operating charges | 640/8 | €3,652 | €4,727 | +€1,075 | +29.4% |
| Gross operating margin | 9900 | €590,084 | €506,808 | -€83,276 | -14.1% |
| Operating profit (loss) | 9901 | €154,124 | €93,002 | -€61,121 | -39.7% |
| Financial income | 75/76B | €5 | €24 | +€19 | +367% |
| Recurring financial income | 75 | €5 | €24 | +€19 | +367% |
| Financial charges | 65/66B | €3,263 | €5,579 | +€2,317 | +71.0% |
| Recurring financial charges | 65 | €3,263 | €5,579 | +€2,317 | +71.0% |
| Profit (loss) for the period before taxes | 9903 | €150,866 | €87,446 | -€63,419 | -42.0% |
| Income taxes | 67/77 | €44,839 | €22,900 | -€21,938 | -48.9% |
| Profit (loss) for the period | 9904 | €106,027 | €64,546 | -€41,481 | -39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €106,027 | €64,546 | -€41,481 | -39.1% |
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 25 October 2026 via checked.be.