Mahto: 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.
Mahto
Largest movements
- Cash -€126,841
down €126,841 (-77.3%), from €164,121 to €37,280
mainly Contributions, distributions and other (-€300,000) and Receivables within one year (-€59,860)
- Receivables within one year +€59,860
up €59,860 (+68.9%), from €86,888 to €146,748
of which Trade receivables: +€61,211
- Profit (loss) carried forward -€152,169
down €152,169 (-94.2%), from €161,604 to €9,435
- Other debts +€140,515
up €140,515 (+87.9%), from €159,924 to €300,439
- Tax, wage and social debts -€31,017
down €31,017 (-49.3%), from €62,957 to €31,940
- Debts after one year -€28,922
down €28,922 (-33.9%), from €85,293 to €56,371
- Gross operating margin +€35,936
up €35,936 (+21.1%), from €170,186 to €206,122
- Taxes +€8,782
up €8,782 (+21.4%), from €41,069 to €49,851
- Financial income -€5,425
down €5,425 (-100%), from €5,425 to €0
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 | €503,972 | €438,039 | -€65,932 | -13.1% |
| Fixed assets | 21/28 | €251,392 | €252,327 | +€935 | +0.4% |
| Tangible fixed assets | 22/27 | €1,002 | €1,937 | +€935 | +93.3% |
| Plant, machinery and equipment | 23 | €1,002 | €1,937 | +€935 | +93.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €250,390 | €250,390 | = | 0.0% |
| Current assets | 29/58 | €252,580 | €185,712 | -€66,867 | -26.5% |
| Amounts receivable within one year | 40/41 | €86,888 | €146,748 | +€59,860 | +68.9% |
| Trade receivables | 40 | €84,957 | €146,168 | +€61,211 | +72.0% |
| Other amounts receivable | 41 | €1,931 | €580 | -€1,351 | -70.0% |
| Cash at bank and in hand | 54/58 | €164,121 | €37,280 | -€126,841 | -77.3% |
| Deferred charges and accrued income | 490/1 | €1,571 | €1,684 | +€113 | +7.2% |
| Total equity and liabilities | 10/49 | €503,972 | €438,039 | -€65,932 | -13.1% |
| Equity | 10/15 | €163,604 | €11,435 | -€152,169 | -93.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,604 | €9,435 | -€152,169 | -94.2% |
| Amounts payable | 17/49 | €340,367 | €426,604 | +€86,237 | +25.3% |
| Amounts payable after more than one year | 17 | €85,293 | €56,371 | -€28,922 | -33.9% |
| Financial debts | 170/4 | €85,293 | €56,371 | -€28,922 | -33.9% |
| Amounts payable within one year | 42/48 | €255,074 | €366,249 | +€111,174 | +43.6% |
| Current portion of amounts payable after more than one year | 42 | €28,591 | €28,922 | +€331 | +1.2% |
| Trade debts | 44 | €3,602 | €4,948 | +€1,345 | +37.3% |
| Suppliers | 440/4 | €3,602 | €4,948 | +€1,345 | +37.3% |
| Taxes, remuneration and social security | 45 | €62,957 | €31,940 | -€31,017 | -49.3% |
| Taxes | 450/3 | €62,957 | €31,940 | -€31,017 | -49.3% |
| Other amounts payable | 47/48 | €159,924 | €300,439 | +€140,515 | +87.9% |
| Accrued charges and deferred income | 492/3 | €0 | €3,984 | +€3,984 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,258 | €630 | -€1,628 | -72.1% |
| Other operating charges | 640/8 | €1,362 | €809 | -€552 | -40.6% |
| Gross operating margin | 9900 | €170,186 | €206,122 | +€35,936 | +21.1% |
| Operating profit (loss) | 9901 | €166,567 | €204,683 | +€38,117 | +22.9% |
| Financial income | 75/76B | €5,425 | €0 | -€5,425 | -100% |
| Recurring financial income | 75 | €5,425 | €0 | -€5,425 | -100% |
| Financial charges | 65/66B | €8,153 | €7,001 | -€1,152 | -14.1% |
| Recurring financial charges | 65 | €8,153 | €7,001 | -€1,152 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €163,838 | €197,682 | +€33,844 | +20.7% |
| Income taxes | 67/77 | €41,069 | €49,851 | +€8,782 | +21.4% |
| Profit (loss) for the period | 9904 | €122,769 | €147,831 | +€25,062 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,769 | €147,831 | +€25,062 | +20.4% |
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 24 October 2026 via checked.be.