Mahelo: 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.
Mahelo
Largest movements
- Receivables within one year +€21,472
up €21,472 (+44.9%), from €47,840 to €69,312
of which Trade receivables: +€27,060
- Cash +€16,848
up €16,848 (+84.1%), from €20,030 to €36,878
mainly Other debts (+€40,000) and Net result for the year (+€39,681)
- Other debts +€40,000
up €40,000, from €0 to €40,000
- Gross operating margin +€2,463
up €2,463 (+5.1%), from €48,021 to €50,484
- Taxes +€2,028
up €2,028 (+25.2%), from €8,051 to €10,080
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 | €67,869 | €107,211 | +€39,342 | +58.0% |
| Fixed assets | 21/28 | - | €1,022 | +€1,022 | |
| Tangible fixed assets | 22/27 | - | €1,022 | +€1,022 | |
| Furniture and vehicles | 24 | - | €1,022 | +€1,022 | |
| Current assets | 29/58 | €67,869 | €106,190 | +€38,320 | +56.5% |
| Amounts receivable within one year | 40/41 | €47,840 | €69,312 | +€21,472 | +44.9% |
| Trade receivables | 40 | €12,720 | €39,780 | +€27,060 | +212.7% |
| Other amounts receivable | 41 | €35,120 | €29,532 | -€5,587 | -15.9% |
| Cash at bank and in hand | 54/58 | €20,030 | €36,878 | +€16,848 | +84.1% |
| Total equity and liabilities | 10/49 | €67,869 | €107,211 | +€39,342 | +58.0% |
| Equity | 10/15 | €63,558 | €63,239 | -€319 | -0.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,058 | €60,739 | -€319 | -0.5% |
| Amounts payable | 17/49 | €4,311 | €43,972 | +€39,661 | +920.0% |
| Amounts payable within one year | 42/48 | €4,311 | €43,972 | +€39,661 | +920.0% |
| Trade debts | 44 | €300 | €135 | -€165 | -55.0% |
| Suppliers | 440/4 | €300 | €135 | -€165 | -55.0% |
| Taxes, remuneration and social security | 45 | €4,011 | €3,837 | -€174 | -4.3% |
| Taxes | 450/3 | €4,011 | €3,837 | -€174 | -4.3% |
| Other amounts payable | 47/48 | €0 | €40,000 | +€40,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4 | +€4 | |
| Other operating charges | 640/8 | €493 | €639 | +€146 | +29.6% |
| Gross operating margin | 9900 | €48,021 | €50,484 | +€2,463 | +5.1% |
| Operating profit (loss) | 9901 | €47,527 | €49,841 | +€2,313 | +4.9% |
| Financial charges | 65/66B | €46 | €80 | +€34 | +74.4% |
| Recurring financial charges | 65 | €46 | €80 | +€34 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | €47,481 | €49,760 | +€2,279 | +4.8% |
| Income taxes | 67/77 | €8,051 | €10,080 | +€2,028 | +25.2% |
| Profit (loss) for the period | 9904 | €39,430 | €39,681 | +€251 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,430 | €39,681 | +€251 | +0.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.