MaHH: 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.
MaHH
Largest movements
- Cash +€34,465
up €34,465 (+392%), from €8,793 to €43,258
mainly Net result for the year (+€52,440) and Other debts (+€38,770)
- Receivables within one year +€12,815
up €12,815 (+58.8%), from €21,799 to €34,614
of which Trade receivables: +€21,870
- Deferred charges and accrued income +€12,513
up €12,513 (+307%), from €4,072 to €16,585
- Tangible fixed assets -€11,402
down €11,402 (-56.9%), from €20,043 to €8,641
of which Furniture and vehicles: -€13,565
- Other debts +€38,770
up €38,770 (+245%), from €15,794 to €54,564
- Tax, wage and social debts +€10,258
up €10,258 (+244%), from €4,197 to €14,455
of which Taxes: +€7,586
- Reserves +€7,440
up €7,440 (+5.9%), from €126,190 to €133,630
of which Distributable reserves: +€7,440
- Debts after one year -€3,858
down €3,858 (-27.8%), from €13,880 to €10,022
- Trade debts -€2,299
down €2,299 (-57.4%), from €4,008 to €1,709
- Gross operating margin +€60,030
up €60,030 (+240%), from €24,987 to €85,017
- Taxes +€13,348
up €13,348 (+1,323%), from €1,009 to €14,357
- Depreciation -€3,240
down €3,240 (-17.1%), from €18,923 to €15,683
- Financial charges -€1,139
down €1,139 (-34.6%), from €3,293 to €2,155
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 | €170,487 | €218,879 | +€48,392 | +28.4% |
| Fixed assets | 21/28 | €20,043 | €8,641 | -€11,402 | -56.9% |
| Tangible fixed assets | 22/27 | €20,043 | €8,641 | -€11,402 | -56.9% |
| Plant, machinery and equipment | 23 | €1,352 | €1,751 | +€399 | +29.5% |
| Furniture and vehicles | 24 | €15,602 | €2,038 | -€13,565 | -86.9% |
| Other tangible fixed assets | 26 | €3,089 | €4,853 | +€1,764 | +57.1% |
| Current assets | 29/58 | €150,444 | €210,237 | +€59,794 | +39.7% |
| Stocks and contracts in progress | 3 | €115,780 | €115,780 | = | 0.0% |
| Stocks | 30/36 | €115,780 | €115,780 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,799 | €34,614 | +€12,815 | +58.8% |
| Trade receivables | 40 | €10,800 | €32,670 | +€21,870 | +203% |
| Other amounts receivable | 41 | €10,999 | €1,944 | -€9,055 | -82.3% |
| Cash at bank and in hand | 54/58 | €8,793 | €43,258 | +€34,465 | +392% |
| Deferred charges and accrued income | 490/1 | €4,072 | €16,585 | +€12,513 | +307% |
| Total equity and liabilities | 10/49 | €170,487 | €218,879 | +€48,392 | +28.4% |
| Equity | 10/15 | €126,191 | €133,631 | +€7,440 | +5.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €126,190 | €133,630 | +€7,440 | +5.9% |
| Tax-exempt reserves | 132 | €706 | €706 | = | 0.0% |
| Distributable reserves | 133 | €125,484 | €132,924 | +€7,440 | +5.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €44,296 | €85,247 | +€40,951 | +92.4% |
| Amounts payable after more than one year | 17 | €13,880 | €10,022 | -€3,858 | -27.8% |
| Financial debts | 170/4 | €13,880 | €10,022 | -€3,858 | -27.8% |
| Amounts payable within one year | 42/48 | €27,774 | €74,586 | +€46,812 | +169% |
| Current portion of amounts payable after more than one year | 42 | €3,774 | €3,858 | +€84 | +2.2% |
| Trade debts | 44 | €4,008 | €1,709 | -€2,299 | -57.4% |
| Suppliers | 440/4 | €4,008 | €1,709 | -€2,299 | -57.4% |
| Taxes, remuneration and social security | 45 | €4,197 | €14,455 | +€10,258 | +244% |
| Taxes | 450/3 | €4,197 | €11,784 | +€7,586 | +181% |
| Remuneration and social security | 454/9 | - | €2,672 | +€2,672 | |
| Other amounts payable | 47/48 | €15,794 | €54,564 | +€38,770 | +245% |
| Accrued charges and deferred income | 492/3 | €2,642 | €639 | -€2,003 | -75.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,923 | €15,683 | -€3,240 | -17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€44 | €0 | +€44 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €24,987 | €85,017 | +€60,030 | +240% |
| Operating profit (loss) | 9901 | €5,720 | €68,934 | +€63,213 | +1,105% |
| Financial income | 75/76B | €87 | €19 | -€67 | -77.8% |
| Recurring financial income | 75 | €87 | €19 | -€67 | -77.8% |
| Financial charges | 65/66B | €3,293 | €2,155 | -€1,139 | -34.6% |
| Recurring financial charges | 65 | €3,293 | €2,155 | -€1,139 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €2,513 | €66,798 | +€64,285 | +2,558% |
| Income taxes | 67/77 | €1,009 | €14,357 | +€13,348 | +1,323% |
| Profit (loss) for the period | 9904 | €1,504 | €52,440 | +€50,936 | +3,386% |
| Profit (loss) for the period to be appropriated | 9905 | €1,504 | €52,440 | +€50,936 | +3,386% |
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 25 October 2026 via checked.be.