MAHY CONSTRUCT: 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.
MAHY CONSTRUCT
Largest movements
- Current investments -€600,000
down €600,000 (-100%), from €600,000 to €0
- Stocks and contracts +€444,208
up €444,208, from €0 to €444,208
- Receivables within one year +€95,815
up €95,815 (+41.3%), from €232,108 to €327,923
of which Other amounts receivable: +€134,693
- Cash -€29,808
down €29,808 (-83.8%), from €35,552 to €5,744
mainly Tax, wage and social debts (-€479,227) and Stocks and contracts (-€444,208)
- Tax, wage and social debts -€479,227
down €479,227 (-100%), from €479,227 to €0
- Other debts +€266,964
up €266,964 (+205%), from €130,000 to €396,964
- Debts after one year +€210,000
new in 2025: €210,000
- Profit (loss) carried forward -€103,082
down €103,082 (-43.5%), from €237,209 to €134,127
- Accrued charges and deferred income +€32,377
up €32,377 (+950%), from €3,407 to €35,784
- Gross operating margin -€2.0m
down €2.0m, from €1.9m to -€78,785
- Taxes -€484,263
down €484,263 (-100%), from €484,263 to €0
- Financial income -€20,549
down €20,549 (-98.1%), from €20,937 to €388
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 | €871,810 | €777,875 | -€93,935 | -10.8% |
| Current assets | 29/58 | €871,810 | €777,875 | -€93,935 | -10.8% |
| Stocks and contracts in progress | 3 | €0 | €444,208 | +€444,208 | |
| Stocks | 30/36 | €0 | €444,208 | +€444,208 | |
| Amounts receivable within one year | 40/41 | €232,108 | €327,923 | +€95,815 | +41.3% |
| Trade receivables | 40 | €229,032 | €190,154 | -€38,878 | -17.0% |
| Other amounts receivable | 41 | €3,076 | €137,769 | +€134,693 | +4,379% |
| Current investments | 50/53 | €600,000 | €0 | -€600,000 | -100% |
| Cash at bank and in hand | 54/58 | €35,552 | €5,744 | -€29,808 | -83.8% |
| Deferred charges and accrued income | 490/1 | €4,150 | €0 | -€4,150 | -100% |
| Total equity and liabilities | 10/49 | €871,810 | €777,875 | -€93,935 | -10.8% |
| Equity | 10/15 | €238,209 | €135,127 | -€103,082 | -43.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,209 | €134,127 | -€103,082 | -43.5% |
| Amounts payable | 17/49 | €633,601 | €642,748 | +€9,147 | +1.4% |
| Amounts payable after more than one year | 17 | - | €210,000 | +€210,000 | |
| Financial debts | 170/4 | - | €210,000 | +€210,000 | |
| Amounts payable within one year | 42/48 | €630,194 | €396,964 | -€233,230 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €20,967 | €0 | -€20,967 | -100% |
| Suppliers | 440/4 | €20,967 | €0 | -€20,967 | -100% |
| Taxes, remuneration and social security | 45 | €479,227 | €0 | -€479,227 | -100% |
| Taxes | 450/3 | €479,227 | €0 | -€479,227 | -100% |
| Other amounts payable | 47/48 | €130,000 | €396,964 | +€266,964 | +205% |
| Accrued charges and deferred income | 492/3 | €3,407 | €35,784 | +€32,377 | +950% |
| Other operating charges | 640/8 | €4,762 | €764 | -€3,998 | -84.0% |
| Gross operating margin | 9900 | €1,921,036 | -€78,785 | -€2.0m | |
| Operating profit (loss) | 9901 | €1,916,274 | -€79,549 | -€2.0m | |
| Financial income | 75/76B | €20,937 | €388 | -€20,549 | -98.1% |
| Recurring financial income | 75 | €20,937 | €388 | -€20,549 | -98.1% |
| Financial charges | 65/66B | €5,324 | €23,921 | +€18,597 | +349% |
| Recurring financial charges | 65 | €5,324 | €23,921 | +€18,597 | +349% |
| Profit (loss) for the period before taxes | 9903 | €1,931,887 | -€103,082 | -€2.0m | |
| Income taxes | 67/77 | €484,263 | €0 | -€484,263 | -100% |
| Profit (loss) for the period | 9904 | €1,447,623 | -€103,082 | -€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,447,623 | -€103,082 | -€1.6m |
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 14 October 2026 via checked.be.