MahieuV: 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.
MahieuV
Largest movements
- Receivables within one year +€10,121
up €10,121 (+64.4%), from €15,712 to €25,833
of which Other amounts receivable: +€9,591
- Cash -€5,506
down €5,506 (-59.9%), from €9,195 to €3,689
mainly Receivables within one year (-€10,121) and Investment in fixed assets (net) (-€10,068)
- Tangible fixed assets +€4,928
up €4,928 (+58.2%), from €8,463 to €13,391
of which Plant, machinery and equipment: +€5,204
- Debts after one year +€4,819
up €4,819 (+161%), from €2,986 to €7,805
- Reserves +€2,085
up €2,085 (+11.8%), from €17,707 to €19,792
- Current portion of long-term debt +€1,897
up €1,897 (+59.1%), from €3,211 to €5,108
- Tax, wage and social debts +€874
up €874 (+28.6%), from €3,053 to €3,927
- Gross operating margin -€15,121
down €15,121 (-57.2%), from €26,442 to €11,321
- Taxes -€2,179
down €2,179 (-43.1%), from €5,053 to €2,874
- Other operating charges -€1,733
down €1,733 (-69.2%), from €2,505 to €772
- Depreciation +€486
up €486 (+10.4%), from €4,654 to €5,140
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 | €33,370 | €42,913 | +€9,543 | +28.6% |
| Fixed assets | 21/28 | €8,463 | €13,391 | +€4,928 | +58.2% |
| Tangible fixed assets | 22/27 | €8,463 | €13,391 | +€4,928 | +58.2% |
| Plant, machinery and equipment | 23 | €8,187 | €13,391 | +€5,204 | +63.6% |
| Furniture and vehicles | 24 | €276 | - | -€276 | |
| Current assets | 29/58 | €24,907 | €29,522 | +€4,615 | +18.5% |
| Amounts receivable within one year | 40/41 | €15,712 | €25,833 | +€10,121 | +64.4% |
| Trade receivables | 40 | €1,439 | €1,969 | +€530 | +36.8% |
| Other amounts receivable | 41 | €14,273 | €23,864 | +€9,591 | +67.2% |
| Cash at bank and in hand | 54/58 | €9,195 | €3,689 | -€5,506 | -59.9% |
| Total equity and liabilities | 10/49 | €33,370 | €42,913 | +€9,543 | +28.6% |
| Equity | 10/15 | €23,907 | €25,992 | +€2,085 | +8.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,707 | €19,792 | +€2,085 | +11.8% |
| Distributable reserves | 133 | €17,707 | €19,792 | +€2,085 | +11.8% |
| Amounts payable | 17/49 | €9,463 | €16,921 | +€7,458 | +78.8% |
| Amounts payable after more than one year | 17 | €2,986 | €7,805 | +€4,819 | +161% |
| Financial debts | 170/4 | €2,986 | €7,805 | +€4,819 | +161% |
| Amounts payable within one year | 42/48 | €6,477 | €9,116 | +€2,639 | +40.7% |
| Current portion of amounts payable after more than one year | 42 | €3,211 | €5,108 | +€1,897 | +59.1% |
| Trade debts | 44 | €213 | €81 | -€132 | -62.0% |
| Suppliers | 440/4 | €213 | €81 | -€132 | -62.0% |
| Taxes, remuneration and social security | 45 | €3,053 | €3,927 | +€874 | +28.6% |
| Taxes | 450/3 | €3,053 | €3,927 | +€874 | +28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,654 | €5,140 | +€486 | +10.4% |
| Other operating charges | 640/8 | €2,505 | €772 | -€1,733 | -69.2% |
| Gross operating margin | 9900 | €26,442 | €11,321 | -€15,121 | -57.2% |
| Operating profit (loss) | 9901 | €19,283 | €5,409 | -€13,874 | -71.9% |
| Financial charges | 65/66B | €247 | €450 | +€203 | +82.2% |
| Recurring financial charges | 65 | €247 | €450 | +€203 | +82.2% |
| Profit (loss) for the period before taxes | 9903 | €19,036 | €4,959 | -€14,077 | -73.9% |
| Income taxes | 67/77 | €5,053 | €2,874 | -€2,179 | -43.1% |
| Profit (loss) for the period | 9904 | €13,983 | €2,085 | -€11,898 | -85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,983 | €2,085 | -€11,898 | -85.1% |
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 21 October 2026 via checked.be.