MAHIEU - LIEFOOGHE: what changed
What changed
MAHIEU - LIEFOOGHE
filed annual accounts (NBB)
Net result for the year
-€9,764
2024 · €2,437-€12,201
Equity
€1.7m
2024 · €1.7m-€9,764
Cash
€73,402
2024 · €171,267-€97,866
Balance sheet total
€1.9m
2024 · €2.1m-€141,290
Largest movements
Assets
- Cash -€97,866
down €97,866 (-57.1%), from €171,267 to €73,402
mainly Other debts (-€135,045) and Investment in fixed assets (net) (-€25,860)
- Tangible fixed assets -€43,759
down €43,759 (-2.3%), from €1.9m to €1.8m
Equity and liabilities
- Other debts -€135,045
down €135,045 (-36.5%), from €369,493 to €234,449
Income statement
- Gross operating margin -€18,257
down €18,257 (-18.1%), from €101,102 to €82,845
- Financial charges -€6,002
down €6,002 (-29.9%), from €20,105 to €14,103
- Taxes -€1,650
down €1,650 (-89.9%), from €1,835 to €185
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
€2,437
Gross operating margin
-€18,257
Depreciation
-€744
Other operating charges
-€357
Financial income
-€496
Financial charges
+€6,002
Taxes
+€1,650
Result 2025
-€9,764
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
-€72,006
Investment
-€25,860
Financing
€0
Cash 2024
€171,267
From operations (derived)
-€72,006
Net result for the year
-€9,764
Depreciation
+€69,619
Deferred charges and accrued income
-€334
Trade debts
-€681
Tax, wage and social debts
+€4,200
Other debts
-€135,045
Investment (derived)
-€25,860
Investment in fixed assets (net)
-€25,860
Cash 2025
€73,402
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,058,977 | €1,917,686 | -€141,290 | -6.9% |
| Fixed assets | 21/28 | €1,884,574 | €1,840,815 | -€43,759 | -2.3% |
| Tangible fixed assets | 22/27 | €1,884,574 | €1,840,815 | -€43,759 | -2.3% |
| Land and buildings | 22 | €1,884,574 | €1,840,815 | -€43,759 | -2.3% |
| Current assets | 29/58 | €174,403 | €76,872 | -€97,531 | -55.9% |
| Amounts receivable within one year | 40/41 | €1,007 | €1,007 | = | 0.0% |
| Other amounts receivable | 41 | €1,007 | €1,007 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €171,267 | €73,402 | -€97,866 | -57.1% |
| Deferred charges and accrued income | 490/1 | €2,129 | €2,463 | +€334 | +15.7% |
| Total equity and liabilities | 10/49 | €2,058,977 | €1,917,686 | -€141,290 | -6.9% |
| Equity | 10/15 | €1,685,640 | €1,675,876 | -€9,764 | -0.6% |
| Contributions | 10/11 | €789,545 | €789,545 | = | 0.0% |
| Reserves | 13 | €896,095 | €886,331 | -€9,764 | -1.1% |
| Non-distributable reserves | 130/1 | €147,474 | €0 | -€147,474 | -100% |
| Reserves not available under the articles | 1311 | €147,474 | €0 | -€147,474 | -100% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €711,121 | €848,831 | +€137,709 | +19.4% |
| Amounts payable | 17/49 | €373,337 | €241,811 | -€131,526 | -35.2% |
| Amounts payable within one year | 42/48 | €373,337 | €241,811 | -€131,526 | -35.2% |
| Trade debts | 44 | €3,843 | €3,162 | -€681 | -17.7% |
| Suppliers | 440/4 | €3,843 | €3,162 | -€681 | -17.7% |
| Taxes, remuneration and social security | 45 | €0 | €4,200 | +€4,200 | |
| Taxes | 450/3 | €0 | €4,200 | +€4,200 | |
| Other amounts payable | 47/48 | €369,493 | €234,449 | -€135,045 | -36.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,875 | €69,619 | +€744 | +1.1% |
| Other operating charges | 640/8 | €8,990 | €9,347 | +€357 | +4.0% |
| Gross operating margin | 9900 | €101,102 | €82,845 | -€18,257 | -18.1% |
| Operating profit (loss) | 9901 | €23,237 | €3,879 | -€19,357 | -83.3% |
| Financial income | 75/76B | €1,140 | €644 | -€496 | -43.5% |
| Recurring financial income | 75 | €1,140 | €644 | -€496 | -43.5% |
| Financial charges | 65/66B | €20,105 | €14,103 | -€6,002 | -29.9% |
| Recurring financial charges | 65 | €20,105 | €14,103 | -€6,002 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €4,272 | -€9,580 | -€13,852 | |
| Income taxes | 67/77 | €1,835 | €185 | -€1,650 | -89.9% |
| Profit (loss) for the period | 9904 | €2,437 | -€9,764 | -€12,201 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,437 | -€9,764 | -€12,201 |
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 2 November 2026 via checked.be.