MAHEK: 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.
MAHEK
Largest movements
- Cash -€2,182
down €2,182 (-66.1%), from €3,301 to €1,119
mainly Net result for the year (-€3,051) and Other debts (-€1,500)
- Stocks and contracts +€1,431
up €1,431 (+7.7%), from €18,506 to €19,937
- Trade debts +€3,508
up €3,508 (+772.6%), from €454 to €3,962
- Reserves -€3,051
down €3,051 (-28.7%), from €10,626 to €7,575
- Other debts -€1,500
down €1,500 (-40.3%), from €3,723 to €2,223
- Tax, wage and social debts +€292
up €292 (+27.4%), from €1,069 to €1,361
- Gross operating margin -€1,271
down €1,271 (-169.9%), from -€748 to -€2,020
- Other operating charges +€795
up €795 (+673.7%), from €118 to €913
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 | €21,872 | €21,121 | -€751 | -3.4% |
| Current assets | 29/58 | €21,872 | €21,121 | -€751 | -3.4% |
| Stocks and contracts in progress | 3 | €18,506 | €19,937 | +€1,431 | +7.7% |
| Stocks | 30/36 | €18,506 | €19,937 | +€1,431 | +7.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,301 | €1,119 | -€2,182 | -66.1% |
| Deferred charges and accrued income | 490/1 | €64 | €64 | = | 0.0% |
| Total equity and liabilities | 10/49 | €21,872 | €21,121 | -€751 | -3.4% |
| Equity | 10/15 | €16,626 | €13,575 | -€3,051 | -18.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €10,626 | €7,575 | -€3,051 | -28.7% |
| Distributable reserves | 133 | €10,626 | €7,575 | -€3,051 | -28.7% |
| Amounts payable | 17/49 | €5,245 | €7,546 | +€2,301 | +43.9% |
| Amounts payable within one year | 42/48 | €5,245 | €7,546 | +€2,301 | +43.9% |
| Trade debts | 44 | €454 | €3,962 | +€3,508 | +772.6% |
| Suppliers | 440/4 | €454 | €3,962 | +€3,508 | +772.6% |
| Taxes, remuneration and social security | 45 | €1,069 | €1,361 | +€292 | +27.4% |
| Taxes | 450/3 | €1,069 | €1,361 | +€292 | +27.4% |
| Other amounts payable | 47/48 | €3,723 | €2,223 | -€1,500 | -40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €118 | €913 | +€795 | +673.7% |
| Gross operating margin | 9900 | -€748 | -€2,020 | -€1,271 | -169.9% |
| Operating profit (loss) | 9901 | -€866 | -€2,932 | -€2,066 | -238.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €119 | €119 | = | 0.0% |
| Recurring financial charges | 65 | €119 | €119 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€985 | -€3,051 | -€2,066 | -209.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€985 | -€3,051 | -€2,066 | -209.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€985 | -€3,051 | -€2,066 | -209.7% |
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 12 October 2026 via checked.be.