MAHMMOD: 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.
MAHMMOD
Largest movements
- Cash +€47,973
up €47,973 (+98.1%), from €48,923 to €96,897
mainly Net result for the year (+€34,575) and Tax, wage and social debts (+€12,446)
- Tangible fixed assets +€11,617
up €11,617 (+553%), from €2,099 to €13,716
of which Furniture and vehicles: +€12,000
- Stocks and contracts -€5,211
down €5,211 (-29.2%), from €17,859 to €12,649
- Profit (loss) carried forward +€34,575
up €34,575 (+57.7%), from €59,944 to €94,519
- Tax, wage and social debts +€12,446
up €12,446 (+213%), from €5,842 to €18,287
of which Taxes: +€11,525
- Debts after one year +€10,991
new in 2025: €10,991
- Trade debts -€4,690
down €4,690 (-94.3%), from €4,975 to €286
- Gross operating margin +€18,283
up €18,283 (+53.3%), from €34,324 to €52,607
- Taxes +€6,421
up €6,421 (+126%), from €5,104 to €11,525
- Depreciation +€3,000
up €3,000 (+783%), from €383 to €3,383
- Financial charges -€1,563
down €1,563 (-59.6%), from €2,624 to €1,061
- Financial income +€1,482
up €1,482 (+272%), from €544 to €2,025
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 | €109,804 | €163,126 | +€53,322 | +48.6% |
| Fixed assets | 21/28 | €9,949 | €21,566 | +€11,617 | +117% |
| Tangible fixed assets | 22/27 | €2,099 | €13,716 | +€11,617 | +553% |
| Plant, machinery and equipment | 23 | €1,149 | €766 | -€383 | -33.3% |
| Furniture and vehicles | 24 | €950 | €12,950 | +€12,000 | +1,263% |
| Financial fixed assets | 28 | €7,850 | €7,850 | = | 0.0% |
| Current assets | 29/58 | €99,854 | €141,560 | +€41,705 | +41.8% |
| Stocks and contracts in progress | 3 | €17,859 | €12,649 | -€5,211 | -29.2% |
| Stocks | 30/36 | €17,859 | €12,649 | -€5,211 | -29.2% |
| Amounts receivable within one year | 40/41 | €33,072 | €32,014 | -€1,057 | -3.2% |
| Other amounts receivable | 41 | €33,072 | €32,014 | -€1,057 | -3.2% |
| Cash at bank and in hand | 54/58 | €48,923 | €96,897 | +€47,973 | +98.1% |
| Total equity and liabilities | 10/49 | €109,804 | €163,126 | +€53,322 | +48.6% |
| Equity | 10/15 | €98,987 | €133,562 | +€34,575 | +34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,443 | €20,443 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,860 | €2,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,860 | €2,860 | = | 0.0% |
| Distributable reserves | 133 | €17,583 | €17,583 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,944 | €94,519 | +€34,575 | +57.7% |
| Amounts payable | 17/49 | €10,817 | €29,563 | +€18,747 | +173% |
| Amounts payable after more than one year | 17 | - | €10,991 | +€10,991 | |
| Financial debts | 170/4 | - | €10,991 | +€10,991 | |
| Amounts payable within one year | 42/48 | €10,817 | €18,573 | +€7,756 | +71.7% |
| Trade debts | 44 | €4,975 | €286 | -€4,690 | -94.3% |
| Suppliers | 440/4 | €4,975 | €286 | -€4,690 | -94.3% |
| Taxes, remuneration and social security | 45 | €5,842 | €18,287 | +€12,446 | +213% |
| Taxes | 450/3 | €5,842 | €17,367 | +€11,525 | +197% |
| Remuneration and social security | 454/9 | - | €921 | +€921 | |
| Remuneration, social security and pensions | 62 | €5,219 | €3,960 | -€1,259 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €383 | €3,383 | +€3,000 | +783% |
| Other operating charges | 640/8 | €1,123 | €128 | -€995 | -88.6% |
| Gross operating margin | 9900 | €34,324 | €52,607 | +€18,283 | +53.3% |
| Operating profit (loss) | 9901 | €27,599 | €45,136 | +€17,537 | +63.5% |
| Financial income | 75/76B | €544 | €2,025 | +€1,482 | +272% |
| Recurring financial income | 75 | €544 | €2,025 | +€1,482 | +272% |
| Financial charges | 65/66B | €2,624 | €1,061 | -€1,563 | -59.6% |
| Recurring financial charges | 65 | €2,624 | €1,061 | -€1,563 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | €25,518 | €46,101 | +€20,582 | +80.7% |
| Income taxes | 67/77 | €5,104 | €11,525 | +€6,421 | +126% |
| Profit (loss) for the period | 9904 | €20,415 | €34,575 | +€14,161 | +69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,415 | €34,575 | +€14,161 | +69.4% |
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 19 October 2026 via checked.be.