MAHRIA: 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.
MAHRIA
Largest movements
- Tangible fixed assets -€31,159
down €31,159 (-37.0%), from €84,325 to €53,166
of which Furniture and vehicles: -€15,761
- Deferred charges and accrued income +€25,549
new in 2025: €25,549
- Cash +€14,445
up €14,445 (+30.6%), from €47,241 to €61,686
mainly Depreciation (+€31,159) and Trade debts (+€21,576)
- Financial fixed assets +€8,000
up €8,000 (+111.1%), from €7,200 to €15,200
- Trade debts +€21,576
up €21,576 (+33.2%), from €64,923 to €86,500
- Tax, wage and social debts -€3,866
down €3,866 (-5.6%), from €68,728 to €64,862
of which Remuneration and social security: -€6,735
- Staff costs +€48,980
up €48,980 (+15.8%), from €309,189 to €358,169
- Gross operating margin +€36,214
up €36,214 (+10.0%), from €361,774 to €397,989
- Other operating charges -€7,362
down €7,362 (-62.4%), from €11,795 to €4,433
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 | €198,207 | €215,912 | +€17,705 | +8.9% |
| Fixed assets | 21/28 | €91,525 | €68,366 | -€23,159 | -25.3% |
| Tangible fixed assets | 22/27 | €84,325 | €53,166 | -€31,159 | -37.0% |
| Plant, machinery and equipment | 23 | €33,324 | €20,357 | -€12,968 | -38.9% |
| Furniture and vehicles | 24 | €31,992 | €16,230 | -€15,761 | -49.3% |
| Other tangible fixed assets | 26 | €19,009 | €16,579 | -€2,430 | -12.8% |
| Financial fixed assets | 28 | €7,200 | €15,200 | +€8,000 | +111.1% |
| Current assets | 29/58 | €106,682 | €147,546 | +€40,864 | +38.3% |
| Stocks and contracts in progress | 3 | €41,004 | €42,121 | +€1,117 | +2.7% |
| Stocks | 30/36 | €41,004 | €42,121 | +€1,117 | +2.7% |
| Amounts receivable within one year | 40/41 | €18,437 | €18,190 | -€247 | -1.3% |
| Trade receivables | 40 | €14,390 | €14,188 | -€202 | -1.4% |
| Other amounts receivable | 41 | €4,047 | €4,002 | -€45 | -1.1% |
| Cash at bank and in hand | 54/58 | €47,241 | €61,686 | +€14,445 | +30.6% |
| Deferred charges and accrued income | 490/1 | - | €25,549 | +€25,549 | |
| Total equity and liabilities | 10/49 | €198,207 | €215,912 | +€17,705 | +8.9% |
| Equity | 10/15 | €64,488 | €64,483 | -€5 | 0.0% |
| Contributions | 10/11 | €16,950 | €16,950 | = | 0.0% |
| Outside capital | 11 | €16,950 | €16,950 | = | 0.0% |
| Other | 1109/19 | €16,950 | €16,950 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,678 | €45,673 | -€5 | 0.0% |
| Amounts payable | 17/49 | €133,719 | €151,429 | +€17,710 | +13.2% |
| Amounts payable within one year | 42/48 | €133,719 | €151,429 | +€17,710 | +13.2% |
| Trade debts | 44 | €64,923 | €86,500 | +€21,576 | +33.2% |
| Suppliers | 440/4 | €64,923 | €86,500 | +€21,576 | +33.2% |
| Taxes, remuneration and social security | 45 | €68,728 | €64,862 | -€3,866 | -5.6% |
| Taxes | 450/3 | €21,468 | €24,337 | +€2,869 | +13.4% |
| Remuneration and social security | 454/9 | €47,259 | €40,524 | -€6,735 | -14.3% |
| Other amounts payable | 47/48 | €68 | €68 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €309,189 | €358,169 | +€48,980 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,894 | €31,159 | -€735 | -2.3% |
| Other operating charges | 640/8 | €11,795 | €4,433 | -€7,362 | -62.4% |
| Gross operating margin | 9900 | €361,774 | €397,989 | +€36,214 | +10.0% |
| Operating profit (loss) | 9901 | €8,896 | €4,228 | -€4,668 | -52.5% |
| Financial income | 75/76B | €1 | €8 | +€7 | +750.5% |
| Recurring financial income | 75 | €1 | €8 | +€7 | +750.5% |
| Financial charges | 65/66B | €4,901 | €1,026 | -€3,875 | -79.1% |
| Recurring financial charges | 65 | €4,901 | €1,026 | -€3,875 | -79.1% |
| Profit (loss) for the period before taxes | 9903 | €3,996 | €3,209 | -€787 | -19.7% |
| Income taxes | 67/77 | €5,828 | €3,214 | -€2,614 | -44.9% |
| Profit (loss) for the period | 9904 | -€1,832 | -€5 | +€1,827 | +99.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,832 | -€5 | +€1,827 | +99.7% |
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.