MAHEBRA: 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.
MAHEBRA
Largest movements
- Tangible fixed assets -€39,139
down €39,139 (-14.1%), from €276,663 to €237,524
of which Land and buildings: -€34,497
- Receivables within one year +€7,756
up €7,756 (+187.0%), from €4,148 to €11,904
of which Trade receivables: +€9,702
- Cash +€5,104
up €5,104 (+118.0%), from €4,326 to €9,430
mainly Depreciation (+€39,139) and Advances received (+€8,448)
- Profit (loss) carried forward -€14,736
down €14,736 (-7.8%), from -€187,884 to -€202,620
- Debts after one year -€13,501
down €13,501 (-13.1%), from €102,784 to €89,284
of which Financial debts: -€13,501
- Advances received +€8,448
up €8,448 (+249.3%), from €3,389 to €11,837
- Other debts -€4,213
down €4,213 (-1.4%), from €290,575 to €286,362
- Financial charges -€1,803
down €1,803 (-42.7%), from €4,221 to €2,418
- Gross operating margin -€1,619
down €1,619 (-4.8%), from €33,451 to €31,832
- Other operating charges +€390
up €390 (+8.4%), from €4,621 to €5,012
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €286,635 | €260,409 | -€26,226 | -9.1% |
| Fixed assets | 21/28 | €276,663 | €237,524 | -€39,139 | -14.1% |
| Tangible fixed assets | 22/27 | €276,663 | €237,524 | -€39,139 | -14.1% |
| Land and buildings | 22 | €261,688 | €227,191 | -€34,497 | -13.2% |
| Plant, machinery and equipment | 23 | €11,275 | €7,695 | -€3,580 | -31.8% |
| Furniture and vehicles | 24 | €3,700 | €2,638 | -€1,062 | -28.7% |
| Current assets | 29/58 | €9,972 | €22,885 | +€12,913 | +129.5% |
| Amounts receivable within one year | 40/41 | €4,148 | €11,904 | +€7,756 | +187.0% |
| Trade receivables | 40 | €1,840 | €11,542 | +€9,702 | +527.4% |
| Other amounts receivable | 41 | €2,308 | €362 | -€1,946 | -84.3% |
| Cash at bank and in hand | 54/58 | €4,326 | €9,430 | +€5,104 | +118.0% |
| Deferred charges and accrued income | 490/1 | €1,498 | €1,551 | +€53 | +3.5% |
| Total equity and liabilities | 10/49 | €286,635 | €260,409 | -€26,226 | -9.1% |
| Equity | 10/15 | -€125,884 | -€140,620 | -€14,736 | -11.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€187,884 | -€202,620 | -€14,736 | -7.8% |
| Amounts payable | 17/49 | €412,519 | €401,029 | -€11,490 | -2.8% |
| Amounts payable after more than one year | 17 | €102,784 | €89,284 | -€13,501 | -13.1% |
| Financial debts | 170/4 | €102,684 | €89,184 | -€13,501 | -13.1% |
| Other amounts payable | 178/9 | €100 | €100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €309,735 | €311,746 | +€2,011 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €13,530 | €13,501 | -€29 | -0.2% |
| Trade debts | 44 | €2,241 | €46 | -€2,195 | -98.0% |
| Suppliers | 440/4 | €2,241 | €46 | -€2,195 | -98.0% |
| Advances received on contracts in progress | 46 | €3,389 | €11,837 | +€8,448 | +249.3% |
| Other amounts payable | 47/48 | €290,575 | €286,362 | -€4,213 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,087 | €39,139 | +€52 | +0.1% |
| Other operating charges | 640/8 | €4,621 | €5,012 | +€390 | +8.4% |
| Gross operating margin | 9900 | €33,451 | €31,832 | -€1,619 | -4.8% |
| Operating profit (loss) | 9901 | -€10,257 | -€12,319 | -€2,062 | -20.1% |
| Financial income | 75/76B | €2 | €1 | -€1 | -59.3% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -59.3% |
| Financial charges | 65/66B | €4,221 | €2,418 | -€1,803 | -42.7% |
| Recurring financial charges | 65 | €4,221 | €2,418 | -€1,803 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,476 | -€14,736 | -€260 | -1.8% |
| Profit (loss) for the period | 9904 | -€14,476 | -€14,736 | -€260 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,476 | -€14,736 | -€260 | -1.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.