MAHONI: what changed
Two fiscal 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.
MAHONI
Largest movements
- Tangible fixed assets +€29,144
up €29,144 (+189.6%), from €15,374 to €44,518
of which Other tangible fixed assets: +€22,077
- Cash +€21,920
up €21,920 (+75.8%), from €28,915 to €50,835
mainly Net result for the year (+€48,887) and Advances received (+€15,061)
- Receivables within one year +€5,138
up €5,138 (+171.9%), from €2,989 to €8,127
of which Other amounts receivable: +€8,127
- Reserves +€48,887
up €48,887 (+404.4%), from €12,089 to €60,976
- Advances received +€15,061
new in 2025: €15,061
- Other debts -€14,891
down €14,891 (-60.7%), from €24,534 to €9,643
- Tax, wage and social debts +€5,922
up €5,922 (+88.8%), from €6,667 to €12,589
- Trade debts +€2,145
up €2,145 (+3217.4%), from €67 to €2,212
- Gross operating margin +€53,010
up €53,010 (+356.1%), from €14,885 to €67,895
- Taxes +€9,915
up €9,915 (+391.1%), from €2,535 to €12,450
- Depreciation +€3,513
up €3,513 (+135.5%), from €2,592 to €6,105
- Financial charges +€782
up €782 (+384.7%), from €203 to €986
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.
Cash bridge derived
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 | €47,278 | €103,480 | +€56,203 | +118.9% |
| Fixed assets | 21/28 | €15,374 | €44,518 | +€29,144 | +189.6% |
| Tangible fixed assets | 22/27 | €15,374 | €44,518 | +€29,144 | +189.6% |
| Plant, machinery and equipment | 23 | €14,776 | €22,105 | +€7,329 | +49.6% |
| Furniture and vehicles | 24 | €598 | €337 | -€262 | -43.7% |
| Other tangible fixed assets | 26 | - | €22,077 | +€22,077 | |
| Current assets | 29/58 | €31,904 | €58,962 | +€27,058 | +84.8% |
| Amounts receivable within one year | 40/41 | €2,989 | €8,127 | +€5,138 | +171.9% |
| Trade receivables | 40 | €2,989 | €0 | -€2,989 | -100.0% |
| Other amounts receivable | 41 | €0 | €8,127 | +€8,127 | |
| Cash at bank and in hand | 54/58 | €28,915 | €50,835 | +€21,920 | +75.8% |
| Total equity and liabilities | 10/49 | €47,278 | €103,480 | +€56,203 | +118.9% |
| Equity | 10/15 | €15,089 | €63,976 | +€48,887 | +324.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,089 | €60,976 | +€48,887 | +404.4% |
| Distributable reserves | 133 | €12,089 | €60,976 | +€48,887 | +404.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €32,188 | €39,504 | +€7,316 | +22.7% |
| Amounts payable within one year | 42/48 | €31,267 | €39,504 | +€8,237 | +26.3% |
| Trade debts | 44 | €67 | €2,212 | +€2,145 | +3217.4% |
| Suppliers | 440/4 | €67 | €2,212 | +€2,145 | +3217.4% |
| Advances received on contracts in progress | 46 | - | €15,061 | +€15,061 | |
| Taxes, remuneration and social security | 45 | €6,667 | €12,589 | +€5,922 | +88.8% |
| Taxes | 450/3 | €6,667 | €12,589 | +€5,922 | +88.8% |
| Other amounts payable | 47/48 | €24,534 | €9,643 | -€14,891 | -60.7% |
| Accrued charges and deferred income | 492/3 | €921 | €0 | -€921 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,592 | €6,105 | +€3,513 | +135.5% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €14,885 | €67,895 | +€53,010 | +356.1% |
| Operating profit (loss) | 9901 | €12,175 | €61,670 | +€49,495 | +406.5% |
| Financial income | 75/76B | €0 | €653 | +€653 | |
| Recurring financial income | 75 | €0 | €653 | +€653 | |
| Financial charges | 65/66B | €203 | €986 | +€782 | +384.7% |
| Recurring financial charges | 65 | €203 | €986 | +€782 | +384.7% |
| Profit (loss) for the period before taxes | 9903 | €11,972 | €61,337 | +€49,366 | +412.4% |
| Income taxes | 67/77 | €2,535 | €12,450 | +€9,915 | +391.1% |
| Profit (loss) for the period | 9904 | €9,436 | €48,887 | +€39,451 | +418.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,436 | €48,887 | +€39,451 | +418.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.