MAHE Services: what changed
MAHE Services
Largest movements
- Cash +€50,932
up €50,932 (+55.0%), from €92,663 to €143,595
mainly Net result for the year (+€67,475) and Deferred charges and accrued income (+€10,488)
- Deferred charges and accrued income -€10,488
down €10,488 (-9.3%), from €112,646 to €102,158
- Receivables within one year +€10,027
up €10,027 (+44.7%), from €22,443 to €32,470
of which Trade receivables: +€11,901
- Tangible fixed assets -€3,602
down €3,602 (-87.9%), from €4,096 to €494
- Receivables after one year -€3,310
down €3,310 (-100%), from €3,310 to €0
- Reserves +€50,984
up €50,984 (+23.5%), from €216,948 to €267,932
- Trade debts -€4,139
down €4,139 (-55.5%), from €7,451 to €3,312
- Other debts -€3,313
down €3,313 (-92.3%), from €3,589 to €276
- Gross operating margin +€14,184
up €14,184 (+63.9%), from €22,184 to €36,367
- Taxes +€5,618
up €5,618 (+53.6%), from €10,485 to €16,103
- Depreciation -€3,819
down €3,819 (-51.5%), from €7,421 to €3,602
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €260,158 | €303,717 | +€43,559 | +16.7% |
| Fixed assets | 21/28 | €29,096 | €25,494 | -€3,602 | -12.4% |
| Tangible fixed assets | 22/27 | €4,096 | €494 | -€3,602 | -87.9% |
| Furniture and vehicles | 24 | €4,096 | €494 | -€3,602 | -87.9% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €231,062 | €278,223 | +€47,161 | +20.4% |
| Amounts receivable after more than one year | 29 | €3,310 | €0 | -€3,310 | -100% |
| Other amounts receivable | 291 | €3,310 | €0 | -€3,310 | -100% |
| Amounts receivable within one year | 40/41 | €22,443 | €32,470 | +€10,027 | +44.7% |
| Trade receivables | 40 | €6,334 | €18,235 | +€11,901 | +188% |
| Other amounts receivable | 41 | €16,109 | €14,235 | -€1,874 | -11.6% |
| Cash at bank and in hand | 54/58 | €92,663 | €143,595 | +€50,932 | +55.0% |
| Deferred charges and accrued income | 490/1 | €112,646 | €102,158 | -€10,488 | -9.3% |
| Total equity and liabilities | 10/49 | €260,158 | €303,717 | +€43,559 | +16.7% |
| Equity | 10/15 | €241,783 | €292,767 | +€50,984 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €216,948 | €267,932 | +€50,984 | +23.5% |
| Distributable reserves | 133 | €216,948 | €267,932 | +€50,984 | +23.5% |
| Profit (loss) carried forward | 14 | €6,235 | €6,235 | = | 0.0% |
| Amounts payable | 17/49 | €18,375 | €10,950 | -€7,425 | -40.4% |
| Amounts payable within one year | 42/48 | €18,375 | €10,950 | -€7,425 | -40.4% |
| Trade debts | 44 | €7,451 | €3,312 | -€4,139 | -55.5% |
| Suppliers | 440/4 | €7,451 | €3,312 | -€4,139 | -55.5% |
| Taxes, remuneration and social security | 45 | €7,335 | €7,361 | +€26 | +0.4% |
| Taxes | 450/3 | €7,335 | €7,361 | +€26 | +0.4% |
| Other amounts payable | 47/48 | €3,589 | €276 | -€3,313 | -92.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,421 | €3,602 | -€3,819 | -51.5% |
| Other operating charges | 640/8 | €893 | €917 | +€24 | +2.7% |
| Gross operating margin | 9900 | €22,184 | €36,367 | +€14,184 | +63.9% |
| Operating profit (loss) | 9901 | €13,869 | €31,848 | +€17,979 | +130% |
| Financial income | 75/76B | €52,091 | €51,801 | -€289 | -0.6% |
| Recurring financial income | 75 | €52,091 | €51,801 | -€289 | -0.6% |
| Financial charges | 65/66B | €114 | €72 | -€42 | -37.0% |
| Recurring financial charges | 65 | €114 | €72 | -€42 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €65,846 | €83,578 | +€17,732 | +26.9% |
| Income taxes | 67/77 | €10,485 | €16,103 | +€5,618 | +53.6% |
| Profit (loss) for the period | 9904 | €55,361 | €67,475 | +€12,114 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €55,361 | €67,475 | +€12,114 | +21.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.