MAHIN JOHAN: 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.
MAHIN JOHAN
Largest movements
- Cash +€11,403
up €11,403 (+3,476%), from €328 to €11,731
mainly Net result for the year (+€13,012) and Debts after one year (+€12,295)
- Receivables within one year +€10,320
up €10,320 (+53.1%), from €19,418 to €29,738
of which Other amounts receivable: +€6,613
- Tangible fixed assets +€10,148
up €10,148 (+70.8%), from €14,344 to €24,492
of which Plant, machinery and equipment: +€5,234
- Intangible fixed assets -€714
down €714 (-23.5%), from €3,033 to €2,319
- Profit (loss) carried forward +€13,012
up €13,012 (+131%), from €9,925 to €22,936
- Debts after one year +€12,295
new in 2025: €12,295
- Tax, wage and social debts +€4,232
up €4,232 (+40.0%), from €10,589 to €14,821
of which Remuneration and social security: +€4,014
- Current portion of long-term debt +€2,834
new in 2025: €2,834
- Trade debts -€1,682
down €1,682 (-13.1%), from €12,892 to €11,209
- Gross operating margin +€43,723
up €43,723 (+75.2%), from €58,139 to €101,863
- Staff costs +€26,100
up €26,100 (+52.0%), from €50,205 to €76,305
- Taxes +€3,094
up €3,094 (+1,895%), from €163 to €3,257
- Depreciation +€2,480
up €2,480 (+53.0%), from €4,675 to €7,155
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 | €38,405 | €69,095 | +€30,691 | +79.9% |
| Formation expenses | 20 | €778 | €432 | -€346 | -44.5% |
| Fixed assets | 21/28 | €17,631 | €27,065 | +€9,434 | +53.5% |
| Intangible fixed assets | 21 | €3,033 | €2,319 | -€714 | -23.5% |
| Tangible fixed assets | 22/27 | €14,344 | €24,492 | +€10,148 | +70.8% |
| Plant, machinery and equipment | 23 | €14,344 | €19,578 | +€5,234 | +36.5% |
| Furniture and vehicles | 24 | - | €4,914 | +€4,914 | |
| Financial fixed assets | 28 | €254 | €254 | = | 0.0% |
| Current assets | 29/58 | €19,996 | €41,598 | +€21,603 | +108% |
| Amounts receivable within one year | 40/41 | €19,418 | €29,738 | +€10,320 | +53.1% |
| Trade receivables | 40 | €5,846 | €9,553 | +€3,707 | +63.4% |
| Other amounts receivable | 41 | €13,572 | €20,185 | +€6,613 | +48.7% |
| Cash at bank and in hand | 54/58 | €328 | €11,731 | +€11,403 | +3,476% |
| Deferred charges and accrued income | 490/1 | €250 | €130 | -€120 | -48.1% |
| Total equity and liabilities | 10/49 | €38,405 | €69,095 | +€30,691 | +79.9% |
| Equity | 10/15 | €14,925 | €27,936 | +€13,012 | +87.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,925 | €22,936 | +€13,012 | +131% |
| Amounts payable | 17/49 | €23,480 | €41,159 | +€17,679 | +75.3% |
| Amounts payable after more than one year | 17 | - | €12,295 | +€12,295 | |
| Financial debts | 170/4 | - | €12,295 | +€12,295 | |
| Amounts payable within one year | 42/48 | €23,480 | €28,864 | +€5,384 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | - | €2,834 | +€2,834 | |
| Trade debts | 44 | €12,892 | €11,209 | -€1,682 | -13.1% |
| Suppliers | 440/4 | €12,892 | €11,209 | -€1,682 | -13.1% |
| Taxes, remuneration and social security | 45 | €10,589 | €14,821 | +€4,232 | +40.0% |
| Taxes | 450/3 | €3,449 | €3,666 | +€218 | +6.3% |
| Remuneration and social security | 454/9 | €7,140 | €11,154 | +€4,014 | +56.2% |
| Remuneration, social security and pensions | 62 | €50,205 | €76,305 | +€26,100 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,675 | €7,155 | +€2,480 | +53.0% |
| Other operating charges | 640/8 | €644 | €679 | +€34 | +5.3% |
| Gross operating margin | 9900 | €58,139 | €101,863 | +€43,723 | +75.2% |
| Operating profit (loss) | 9901 | €2,615 | €17,725 | +€15,110 | +578% |
| Financial income | 75/76B | €16 | €1 | -€15 | -95.3% |
| Recurring financial income | 75 | €16 | €1 | -€15 | -95.3% |
| Financial charges | 65/66B | €1,504 | €1,457 | -€47 | -3.2% |
| Recurring financial charges | 65 | €1,504 | €1,457 | -€47 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €1,127 | €16,269 | +€15,142 | +1,344% |
| Income taxes | 67/77 | €163 | €3,257 | +€3,094 | +1,895% |
| Profit (loss) for the period | 9904 | €964 | €13,012 | +€12,048 | +1,250% |
| Profit (loss) for the period to be appropriated | 9905 | €964 | €13,012 | +€12,048 | +1,250% |
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 18 October 2026 via checked.be.