MAHU MEAT: 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.
MAHU MEAT
Largest movements
- Tangible fixed assets +€69,873
up €69,873 (+2.5%), from €2.8m to €2.8m
of which Land and buildings: +€220,915
- Receivables within one year +€56,838
up €56,838 (+49.8%), from €114,088 to €170,926
of which Trade receivables: +€74,941
- Debts after one year +€50,484
up €50,484 (+2.7%), from €1.9m to €1.9m
of which Financial debts: +€45,534
- Tax, wage and social debts +€48,688
up €48,688 (+26.3%), from €185,155 to €233,843
of which Remuneration and social security: +€49,076
- Gross operating margin +€284,215
up €284,215 (+19.2%), from €1.5m to €1.8m
- Staff costs +€238,177
up €238,177 (+23.9%), from €994,691 to €1.2m
- Depreciation +€58,727
up €58,727 (+23.5%), from €250,209 to €308,935
- Other operating charges -€34,168
down €34,168 (-43.7%), from €78,114 to €43,946
- Financial charges +€23,576
up €23,576 (+42.8%), from €55,121 to €78,698
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 | €3,578,054 | €3,694,578 | +€116,524 | +3.3% |
| Fixed assets | 21/28 | €2,772,783 | €2,841,656 | +€68,873 | +2.5% |
| Intangible fixed assets | 21 | €9,579 | €8,579 | -€1,000 | -10.4% |
| Tangible fixed assets | 22/27 | €2,762,696 | €2,832,569 | +€69,873 | +2.5% |
| Land and buildings | 22 | €1,352,465 | €1,573,380 | +€220,915 | +16.3% |
| Plant, machinery and equipment | 23 | €387,259 | €322,506 | -€64,753 | -16.7% |
| Furniture and vehicles | 24 | €107,265 | €74,869 | -€32,395 | -30.2% |
| Other tangible fixed assets | 26 | €915,708 | €861,813 | -€53,894 | -5.9% |
| Financial fixed assets | 28 | €508 | €508 | = | 0.0% |
| Current assets | 29/58 | €805,271 | €852,922 | +€47,651 | +5.9% |
| Stocks and contracts in progress | 3 | €274,525 | €276,685 | +€2,160 | +0.8% |
| Stocks | 30/36 | €274,525 | €276,685 | +€2,160 | +0.8% |
| Amounts receivable within one year | 40/41 | €114,088 | €170,926 | +€56,838 | +49.8% |
| Trade receivables | 40 | €74,263 | €149,203 | +€74,941 | +100.9% |
| Other amounts receivable | 41 | €39,825 | €21,723 | -€18,102 | -45.5% |
| Cash at bank and in hand | 54/58 | €408,052 | €398,617 | -€9,435 | -2.3% |
| Deferred charges and accrued income | 490/1 | €8,605 | €6,693 | -€1,912 | -22.2% |
| Total equity and liabilities | 10/49 | €3,578,054 | €3,694,578 | +€116,524 | +3.3% |
| Equity | 10/15 | €831,455 | €822,555 | -€8,900 | -1.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €801,455 | €792,555 | -€8,900 | -1.1% |
| Tax-exempt reserves | 132 | €1,463 | €1,463 | = | 0.0% |
| Distributable reserves | 133 | €799,992 | €791,092 | -€8,900 | -1.1% |
| Amounts payable | 17/49 | €2,746,599 | €2,872,023 | +€125,423 | +4.6% |
| Amounts payable after more than one year | 17 | €1,872,818 | €1,923,302 | +€50,484 | +2.7% |
| Financial debts | 170/4 | €1,872,818 | €1,918,352 | +€45,534 | +2.4% |
| Other amounts payable | 178/9 | - | €4,950 | +€4,950 | |
| Amounts payable within one year | 42/48 | €869,046 | €946,982 | +€77,936 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €197,139 | €214,066 | +€16,926 | +8.6% |
| Trade debts | 44 | €460,627 | €465,791 | +€5,164 | +1.1% |
| Suppliers | 440/4 | €460,627 | €465,791 | +€5,164 | +1.1% |
| Advances received on contracts in progress | 46 | - | €1,997 | +€1,997 | |
| Taxes, remuneration and social security | 45 | €185,155 | €233,843 | +€48,688 | +26.3% |
| Taxes | 450/3 | €24,818 | €24,430 | -€388 | -1.6% |
| Remuneration and social security | 454/9 | €160,337 | €209,413 | +€49,076 | +30.6% |
| Other amounts payable | 47/48 | €26,125 | €31,286 | +€5,161 | +19.8% |
| Accrued charges and deferred income | 492/3 | €4,736 | €1,739 | -€2,997 | -63.3% |
| Remuneration, social security and pensions | 62 | €994,691 | €1,232,868 | +€238,177 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,209 | €308,935 | +€58,727 | +23.5% |
| Other operating charges | 640/8 | €78,114 | €43,946 | -€34,168 | -43.7% |
| Gross operating margin | 9900 | €1,481,679 | €1,765,894 | +€284,215 | +19.2% |
| Operating profit (loss) | 9901 | €158,665 | €180,145 | +€21,480 | +13.5% |
| Financial income | 75/76B | €997 | €299 | -€699 | -70.0% |
| Recurring financial income | 75 | €997 | €299 | -€699 | -70.0% |
| Financial charges | 65/66B | €55,121 | €78,698 | +€23,576 | +42.8% |
| Recurring financial charges | 65 | €55,121 | €78,698 | +€23,576 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | €104,541 | €101,746 | -€2,795 | -2.7% |
| Income taxes | 67/77 | €24,651 | €30,754 | +€6,103 | +24.8% |
| Profit (loss) for the period | 9904 | €79,890 | €70,992 | -€8,898 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,890 | €70,992 | -€8,898 | -11.1% |
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.