MAHIEU CABLING SERVICES: what changed
What changed
MAHIEU CABLING SERVICES
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€43,404
2024 · €19,797+€23,607
Equity
€453,680
2024 · €460,276-€6,596
Cash
€28,053
2024 · €21,266+€6,787
Balance sheet total
€1.0m
2024 · €647,796+€356,954
Largest movements
Assets
- Tangible fixed assets +€285,017
up €285,017 (+49.2%), from €579,218 to €864,236
of which Land and buildings: +€309,815
- Receivables within one year +€66,314
up €66,314 (+179%), from €37,105 to €103,419
of which Other amounts receivable: +€67,060
Equity and liabilities
- Debts after one year +€316,159
up €316,159 (+353%), from €89,637 to €405,797
of which Financial debts: +€264,409
- Short-term financial debts +€75,000
new in 2025: €75,000
- Provisions -€40,000
down €40,000 (-100%), from €40,000 to €0
- Tax, wage and social debts +€16,715
up €16,715 (+284%), from €5,878 to €22,594
of which Taxes: +€16,160
Income statement
- Gross operating margin +€36,505
up €36,505 (+44.5%), from €82,037 to €118,541
- Taxes +€5,866
up €5,866 (+55.0%), from €10,662 to €16,528
- Depreciation +€3,937
up €3,937 (+13.4%), from €29,351 to €33,287
- Staff costs +€2,024
up €2,024 (+27.0%), from €7,485 to €9,509
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€19,797
Gross operating margin
+€36,505
Staff costs
-€2,024
Depreciation
-€3,937
Other operating charges
+€98
Financial income
-€1
Financial charges
-€1,169
Taxes
-€5,866
Result 2025
€43,404
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€12,770
Investment
-€318,305
Financing
+€337,861
Cash 2024
€21,266
From operations (derived)
-€12,770
Net result for the year
+€43,404
Depreciation
+€33,287
Receivables within one year
-€66,314
Deferred charges and accrued income
+€1,164
Provisions
-€40,000
Trade debts
-€1,977
Tax, wage and social debts
+€16,715
Accrued charges and deferred income
+€950
Investment (derived)
-€318,305
Investment in fixed assets (net)
-€318,305
Financing
+€337,861
Debts after one year
+€316,159
Current portion of long-term debt
-€3,298
Short-term financial debts
+€75,000
Contributions, distributions and other
-€50,000
Cash 2025
€28,053
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €647,796 | €1,004,750 | +€356,954 | +55.1% |
| Fixed assets | 21/28 | €579,218 | €864,236 | +€285,017 | +49.2% |
| Tangible fixed assets | 22/27 | €579,218 | €864,236 | +€285,017 | +49.2% |
| Land and buildings | 22 | €488,750 | €798,564 | +€309,815 | +63.4% |
| Plant, machinery and equipment | 23 | €2,416 | €938 | -€1,478 | -61.2% |
| Furniture and vehicles | 24 | €88,053 | €64,733 | -€23,320 | -26.5% |
| Current assets | 29/58 | €68,578 | €140,514 | +€71,937 | +105% |
| Stocks and contracts in progress | 3 | €7,500 | €7,500 | = | 0.0% |
| Stocks | 30/36 | €7,500 | €7,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,105 | €103,419 | +€66,314 | +179% |
| Trade receivables | 40 | €30,868 | €30,122 | -€746 | -2.4% |
| Other amounts receivable | 41 | €6,237 | €73,297 | +€67,060 | +1,075% |
| Cash at bank and in hand | 54/58 | €21,266 | €28,053 | +€6,787 | +31.9% |
| Deferred charges and accrued income | 490/1 | €2,706 | €1,543 | -€1,164 | -43.0% |
| Total equity and liabilities | 10/49 | €647,796 | €1,004,750 | +€356,954 | +55.1% |
| Equity | 10/15 | €460,276 | €453,680 | -€6,596 | -1.4% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €429,276 | €422,680 | -€6,596 | -1.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €3,692 | €3,692 | = | 0.0% |
| Distributable reserves | 133 | €425,584 | €418,988 | -€6,596 | -1.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €40,000 | €0 | -€40,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €0 | -€40,000 | -100% |
| Major repairs and maintenance | 162 | €40,000 | €0 | -€40,000 | -100% |
| Amounts payable | 17/49 | €147,520 | €551,070 | +€403,550 | +274% |
| Amounts payable after more than one year | 17 | €89,637 | €405,797 | +€316,159 | +353% |
| Financial debts | 170/4 | €44,583 | €308,993 | +€264,409 | +593% |
| Other amounts payable | 178/9 | €45,054 | €96,804 | +€51,750 | +115% |
| Amounts payable within one year | 42/48 | €52,432 | €138,873 | +€86,441 | +165% |
| Current portion of amounts payable after more than one year | 42 | €38,889 | €35,591 | -€3,298 | -8.5% |
| Financial debts | 43 | - | €75,000 | +€75,000 | |
| Credit institutions | 430/8 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €7,666 | €5,689 | -€1,977 | -25.8% |
| Suppliers | 440/4 | €7,666 | €5,689 | -€1,977 | -25.8% |
| Taxes, remuneration and social security | 45 | €5,878 | €22,594 | +€16,715 | +284% |
| Taxes | 450/3 | €367 | €16,528 | +€16,160 | +4,399% |
| Remuneration and social security | 454/9 | €5,511 | €6,066 | +€555 | +10.1% |
| Accrued charges and deferred income | 492/3 | €5,450 | €6,400 | +€950 | +17.4% |
| Non-recurring operating income | 76A | €0 | €40,000 | +€40,000 | |
| Remuneration, social security and pensions | 62 | €7,485 | €9,509 | +€2,024 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,351 | €33,287 | +€3,937 | +13.4% |
| Other operating charges | 640/8 | €6,844 | €6,746 | -€98 | -1.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €82,037 | €118,541 | +€36,505 | +44.5% |
| Operating profit (loss) | 9901 | €38,357 | €68,999 | +€30,642 | +79.9% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €7,899 | €9,067 | +€1,169 | +14.8% |
| Recurring financial charges | 65 | €7,899 | €9,067 | +€1,169 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €30,459 | €59,931 | +€29,473 | +96.8% |
| Income taxes | 67/77 | €10,662 | €16,528 | +€5,866 | +55.0% |
| Profit (loss) for the period | 9904 | €19,797 | €43,404 | +€23,607 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €19,797 | €43,404 | +€23,607 | +119% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.