MAHIEU J-P: what changed
MAHIEU J-P
Largest movements
- Cash +€37,739
up €37,739 (+20.9%), from €180,215 to €217,954
mainly Net result for the year (+€124,059) and Other debts (+€25,860)
- Tangible fixed assets -€12,419
down €12,419 (-69.6%), from €17,835 to €5,416
of which Furniture and vehicles: -€7,593
- Stocks and contracts -€7,605
down €7,605 (-74.3%), from €10,234 to €2,629
- Deferred charges and accrued income -€6,335
down €6,335 (-84.5%), from €7,500 to €1,165
- Receivables within one year +€5,132
up €5,132 (+16.1%), from €31,964 to €37,096
of which Other amounts receivable: +€25,291
- Trade debts -€98,716
down €98,716 (-82.3%), from €120,014 to €21,298
- Reserves +€90,000
up €90,000 (+94.9%), from €94,860 to €184,860
of which Distributable reserves: +€90,000
- Other debts +€25,860
up €25,860 (+6,859%), from €377 to €26,237
- Current portion of long-term debt -€11,052
no longer reported in 2025 (was €11,052)
- Profit (loss) carried forward +€9,059
up €9,059 (+110%), from €8,259 to €17,318
- Gross operating margin +€142,891
up €142,891 (+280%), from €51,110 to €194,001
- Taxes +€30,848
up €30,848 (+378%), from €8,152 to €39,000
- Write-downs +€8,344
new in 2025: €8,344
- Depreciation -€6,217
down €6,217 (-29.3%), from €21,185 to €14,968
- Provisions +€4,905
new in 2025: €4,905
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €247,996 | €264,260 | +€16,264 | +6.6% |
| Fixed assets | 21/28 | €18,083 | €5,416 | -€12,667 | -70.0% |
| Intangible fixed assets | 21 | €248 | - | -€248 | |
| Tangible fixed assets | 22/27 | €17,835 | €5,416 | -€12,419 | -69.6% |
| Land and buildings | 22 | €10,242 | €5,416 | -€4,826 | -47.1% |
| Furniture and vehicles | 24 | €7,593 | - | -€7,593 | |
| Current assets | 29/58 | €229,913 | €258,844 | +€28,931 | +12.6% |
| Stocks and contracts in progress | 3 | €10,234 | €2,629 | -€7,605 | -74.3% |
| Stocks | 30/36 | €10,234 | €2,629 | -€7,605 | -74.3% |
| Amounts receivable within one year | 40/41 | €31,964 | €37,096 | +€5,132 | +16.1% |
| Trade receivables | 40 | €31,964 | €11,805 | -€20,159 | -63.1% |
| Other amounts receivable | 41 | - | €25,291 | +€25,291 | |
| Cash at bank and in hand | 54/58 | €180,215 | €217,954 | +€37,739 | +20.9% |
| Deferred charges and accrued income | 490/1 | €7,500 | €1,165 | -€6,335 | -84.5% |
| Total equity and liabilities | 10/49 | €247,996 | €264,260 | +€16,264 | +6.6% |
| Equity | 10/15 | €109,319 | €208,378 | +€99,059 | +90.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €94,860 | €184,860 | +€90,000 | +94.9% |
| 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 | €93,000 | €183,000 | +€90,000 | +96.8% |
| Profit (loss) carried forward | 14 | €8,259 | €17,318 | +€9,059 | +110% |
| Provisions and deferred taxes | 16 | - | €4,905 | +€4,905 | |
| Provisions for liabilities and charges | 160/5 | - | €4,905 | +€4,905 | |
| Major repairs and maintenance | 162 | - | €4,905 | +€4,905 | |
| Amounts payable | 17/49 | €138,677 | €50,977 | -€87,700 | -63.2% |
| Amounts payable within one year | 42/48 | €138,677 | €50,977 | -€87,700 | -63.2% |
| Current portion of amounts payable after more than one year | 42 | €11,052 | - | -€11,052 | |
| Trade debts | 44 | €120,014 | €21,298 | -€98,716 | -82.3% |
| Suppliers | 440/4 | €120,014 | €21,298 | -€98,716 | -82.3% |
| Taxes, remuneration and social security | 45 | €7,234 | €3,442 | -€3,792 | -52.4% |
| Taxes | 450/3 | €7,234 | €473 | -€6,761 | -93.5% |
| Remuneration and social security | 454/9 | - | €2,969 | +€2,969 | |
| Other amounts payable | 47/48 | €377 | €26,237 | +€25,860 | +6,859% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,185 | €14,968 | -€6,217 | -29.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,344 | +€8,344 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €4,905 | +€4,905 | |
| Other operating charges | 640/8 | €2,101 | €1,971 | -€130 | -6.2% |
| Gross operating margin | 9900 | €51,110 | €194,001 | +€142,891 | +280% |
| Operating profit (loss) | 9901 | €27,824 | €163,813 | +€135,989 | +489% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €1,299 | €754 | -€545 | -42.0% |
| Recurring financial charges | 65 | €1,299 | €754 | -€545 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €26,531 | €163,059 | +€136,528 | +515% |
| Income taxes | 67/77 | €8,152 | €39,000 | +€30,848 | +378% |
| Profit (loss) for the period | 9904 | €18,379 | €124,059 | +€105,680 | +575% |
| Profit (loss) for the period to be appropriated | 9905 | €18,379 | €124,059 | +€105,680 | +575% |
Next steps
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 5 November 2026 via checked.be.