MAHO CONSULT: 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.
MAHO CONSULT
Largest movements
- Cash +€355,206
up €355,206 (+276%), from €128,788 to €483,994
mainly Current investments (+€150,000) and Net result for the year (+€128,681)
- Current investments -€150,000
down €150,000 (-100%), from €150,000 to €0
- Receivables within one year -€34,910
down €34,910 (-98.5%), from €35,453 to €543
of which Trade receivables: -€35,453
- Tangible fixed assets -€14,693
down €14,693 (-33.8%), from €43,505 to €28,812
- Reserves +€128,681
up €128,681 (+56.4%), from €228,258 to €356,940
- Tax, wage and social debts +€33,131
up €33,131 (+27.4%), from €120,848 to €153,980
- Gross operating margin -€137,793
down €137,793 (-41.6%), from €331,580 to €193,787
- Taxes -€46,177
down €46,177 (-45.7%), from €100,986 to €54,809
- Depreciation +€13,872
up €13,872 (+1,345%), from €1,032 to €14,903
- Financial income +€6,051
new in 2025: €6,051
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 | €357,956 | €515,560 | +€157,604 | +44.0% |
| Formation expenses | 20 | €210 | €0 | -€210 | -100% |
| Fixed assets | 21/28 | €43,505 | €28,812 | -€14,693 | -33.8% |
| Tangible fixed assets | 22/27 | €43,505 | €28,812 | -€14,693 | -33.8% |
| Furniture and vehicles | 24 | €43,505 | €28,812 | -€14,693 | -33.8% |
| Current assets | 29/58 | €314,241 | €486,748 | +€172,507 | +54.9% |
| Amounts receivable within one year | 40/41 | €35,453 | €543 | -€34,910 | -98.5% |
| Trade receivables | 40 | €35,453 | €0 | -€35,453 | -100% |
| Other amounts receivable | 41 | - | €543 | +€543 | |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100% |
| Cash at bank and in hand | 54/58 | €128,788 | €483,994 | +€355,206 | +276% |
| Deferred charges and accrued income | 490/1 | - | €2,212 | +€2,212 | |
| Total equity and liabilities | 10/49 | €357,956 | €515,560 | +€157,604 | +44.0% |
| Equity | 10/15 | €231,258 | €359,940 | +€128,681 | +55.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €228,258 | €356,940 | +€128,681 | +56.4% |
| Distributable reserves | 133 | €228,258 | €356,940 | +€128,681 | +56.4% |
| Amounts payable | 17/49 | €126,698 | €155,620 | +€28,923 | +22.8% |
| Amounts payable within one year | 42/48 | €126,698 | €155,620 | +€28,923 | +22.8% |
| Trade debts | 44 | €2,305 | €1,641 | -€665 | -28.8% |
| Suppliers | 440/4 | €2,305 | €1,641 | -€665 | -28.8% |
| Taxes, remuneration and social security | 45 | €120,848 | €153,980 | +€33,131 | +27.4% |
| Taxes | 450/3 | €120,848 | €153,980 | +€33,131 | +27.4% |
| Other amounts payable | 47/48 | €3,544 | €0 | -€3,544 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,032 | €14,903 | +€13,872 | +1,345% |
| Other operating charges | 640/8 | €1,256 | €1,311 | +€55 | +4.4% |
| Gross operating margin | 9900 | €331,580 | €193,787 | -€137,793 | -41.6% |
| Operating profit (loss) | 9901 | €329,292 | €177,573 | -€151,720 | -46.1% |
| Financial income | 75/76B | - | €6,051 | +€6,051 | |
| Recurring financial income | 75 | - | €6,051 | +€6,051 | |
| Financial charges | 65/66B | €48 | €133 | +€84 | +175% |
| Recurring financial charges | 65 | €48 | €133 | +€84 | +175% |
| Profit (loss) for the period before taxes | 9903 | €329,244 | €183,491 | -€145,754 | -44.3% |
| Income taxes | 67/77 | €100,986 | €54,809 | -€46,177 | -45.7% |
| Profit (loss) for the period | 9904 | €228,258 | €128,681 | -€99,577 | -43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €228,258 | €128,681 | -€99,577 | -43.6% |
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 31 October 2026 via checked.be.