Mahender: 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.
Mahender
Largest movements
- Receivables within one year -€75,352
down €75,352 (-46.0%), from €163,977 to €88,625
of which Other amounts receivable: -€61,849
- Tangible fixed assets -€11,583
down €11,583 (-37.9%), from €30,567 to €18,984
of which Furniture and vehicles: -€14,267
- Stocks and contracts +€10,154
up €10,154 (+18.2%), from €55,789 to €65,943
- Cash +€8,192
up €8,192 (+55.6%), from €14,745 to €22,937
mainly Receivables within one year (+€75,352) and Other debts (+€37,446)
- Debts after one year -€66,422
down €66,422 (-99.0%), from €67,101 to €679
of which Other amounts payable: -€58,457
- Other debts +€37,446
up €37,446 (+4,653%), from €805 to €38,251
- Reserves -€21,375
down €21,375 (-14.6%), from €146,900 to €125,525
of which Distributable reserves: -€21,375
- Tax, wage and social debts -€12,000
down €12,000 (-31.3%), from €38,381 to €26,380
of which Remuneration and social security: -€12,455
- Trade debts -€6,589
down €6,589 (-14.3%), from €45,982 to €39,393
- Gross operating margin -€68,457
down €68,457 (-17.7%), from €387,380 to €318,923
- Staff costs -€45,311
down €45,311 (-12.4%), from €365,228 to €319,917
- Other operating charges +€7,511
up €7,511 (+227%), from €3,309 to €10,820
- Depreciation -€4,996
down €4,996 (-36.9%), from €13,528 to €8,531
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 | €312,997 | €244,394 | -€68,603 | -21.9% |
| Fixed assets | 21/28 | €60,567 | €48,984 | -€11,583 | -19.1% |
| Tangible fixed assets | 22/27 | €30,567 | €18,984 | -€11,583 | -37.9% |
| Furniture and vehicles | 24 | €30,567 | €16,300 | -€14,267 | -46.7% |
| Other tangible fixed assets | 26 | - | €2,684 | +€2,684 | |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €252,430 | €195,409 | -€57,020 | -22.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €55,789 | €65,943 | +€10,154 | +18.2% |
| Stocks | 30/36 | €55,789 | €65,943 | +€10,154 | +18.2% |
| Amounts receivable within one year | 40/41 | €163,977 | €88,625 | -€75,352 | -46.0% |
| Trade receivables | 40 | €47,652 | €34,149 | -€13,503 | -28.3% |
| Other amounts receivable | 41 | €116,325 | €54,476 | -€61,849 | -53.2% |
| Current investments | 50/53 | €15,610 | €15,610 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,745 | €22,937 | +€8,192 | +55.6% |
| Deferred charges and accrued income | 490/1 | €2,309 | €2,294 | -€15 | -0.7% |
| Total equity and liabilities | 10/49 | €312,997 | €244,394 | -€68,603 | -21.9% |
| Equity | 10/15 | €153,100 | €131,725 | -€21,375 | -14.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €146,900 | €125,525 | -€21,375 | -14.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €145,040 | €123,665 | -€21,375 | -14.7% |
| Amounts payable | 17/49 | €159,896 | €112,669 | -€47,228 | -29.5% |
| Amounts payable after more than one year | 17 | €67,101 | €679 | -€66,422 | -99.0% |
| Financial debts | 170/4 | €8,644 | €679 | -€7,964 | -92.1% |
| Other amounts payable | 178/9 | €58,457 | €0 | -€58,457 | -100% |
| Amounts payable within one year | 42/48 | €92,795 | €111,989 | +€19,194 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €7,628 | €7,964 | +€337 | +4.4% |
| Trade debts | 44 | €45,982 | €39,393 | -€6,589 | -14.3% |
| Suppliers | 440/4 | €45,982 | €39,393 | -€6,589 | -14.3% |
| Taxes, remuneration and social security | 45 | €38,381 | €26,380 | -€12,000 | -31.3% |
| Taxes | 450/3 | €465 | €920 | +€455 | +97.8% |
| Remuneration and social security | 454/9 | €37,916 | €25,461 | -€12,455 | -32.8% |
| Other amounts payable | 47/48 | €805 | €38,251 | +€37,446 | +4,653% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €365,228 | €319,917 | -€45,311 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,528 | €8,531 | -€4,996 | -36.9% |
| Other operating charges | 640/8 | €3,309 | €10,820 | +€7,511 | +227% |
| Non-recurring operating charges | 66A | - | €4,387 | +€4,387 | |
| Gross operating margin | 9900 | €387,380 | €318,923 | -€68,457 | -17.7% |
| Operating profit (loss) | 9901 | €5,316 | -€24,733 | -€30,048 | |
| Financial income | 75/76B | €6,504 | €5,062 | -€1,442 | -22.2% |
| Recurring financial income | 75 | €6,504 | €5,062 | -€1,442 | -22.2% |
| Financial charges | 65/66B | €2,626 | €1,596 | -€1,031 | -39.2% |
| Recurring financial charges | 65 | €2,626 | €1,596 | -€1,031 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | €9,194 | -€21,266 | -€30,460 | |
| Income taxes | 67/77 | €499 | €109 | -€390 | -78.1% |
| Profit (loss) for the period | 9904 | €8,695 | -€21,375 | -€30,070 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,695 | -€21,375 | -€30,070 |
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 27 October 2026 via checked.be.