MAUHIN MANAGEMENT: 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.
MAUHIN MANAGEMENT
Largest movements
- Cash +€154,927
up €154,927 (+100%), from €154,177 to €309,104
mainly Net result for the year (+€193,728) and Other debts (+€143,090)
- Receivables within one year -€110,215
down €110,215 (-17.3%), from €636,607 to €526,392
of which Trade receivables: -€110,215
- Other debts +€143,090
up €143,090 (+19.8%), from €723,949 to €867,040
- Debts after one year -€75,136
down €75,136 (-9.7%), from €771,589 to €696,453
- Gross operating margin -€12,220
down €12,220 (-3.8%), from €325,352 to €313,132
- Financial income -€9,828
down €9,828 (-17.1%), from €57,374 to €47,547
- Financial charges -€3,529
down €3,529 (-3.6%), from €97,821 to €94,293
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 | €1,855,570 | €1,902,695 | +€47,125 | +2.5% |
| Fixed assets | 21/28 | €1,034,952 | €1,043,434 | +€8,482 | +0.8% |
| Tangible fixed assets | 22/27 | €634,952 | €643,434 | +€8,482 | +1.3% |
| Land and buildings | 22 | €574,293 | €582,079 | +€7,786 | +1.4% |
| Plant, machinery and equipment | 23 | €6,907 | €7,422 | +€514 | +7.4% |
| Furniture and vehicles | 24 | €40,484 | €43,786 | +€3,302 | +8.2% |
| Other tangible fixed assets | 26 | €13,268 | €10,148 | -€3,120 | -23.5% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €820,618 | €859,260 | +€38,643 | +4.7% |
| Stocks and contracts in progress | 3 | €17,657 | €17,657 | = | 0.0% |
| Stocks | 30/36 | €17,657 | €17,657 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €636,607 | €526,392 | -€110,215 | -17.3% |
| Trade receivables | 40 | €197,285 | €87,070 | -€110,215 | -55.9% |
| Other amounts receivable | 41 | €439,322 | €439,322 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €154,177 | €309,104 | +€154,927 | +100% |
| Deferred charges and accrued income | 490/1 | €12,177 | €6,108 | -€6,069 | -49.8% |
| Total equity and liabilities | 10/49 | €1,855,570 | €1,902,695 | +€47,125 | +2.5% |
| Equity | 10/15 | €232,334 | €214,133 | -€18,201 | -7.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,929 | €193,728 | -€18,201 | -8.6% |
| Amounts payable | 17/49 | €1,623,236 | €1,688,562 | +€65,326 | +4.0% |
| Amounts payable after more than one year | 17 | €771,589 | €696,453 | -€75,136 | -9.7% |
| Financial debts | 170/4 | €771,589 | €696,453 | -€75,136 | -9.7% |
| Amounts payable within one year | 42/48 | €835,607 | €977,949 | +€142,342 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €63,810 | €70,272 | +€6,462 | +10.1% |
| Trade debts | 44 | €26,063 | €25,139 | -€925 | -3.5% |
| Suppliers | 440/4 | €26,063 | €25,139 | -€925 | -3.5% |
| Taxes, remuneration and social security | 45 | €21,784 | €15,498 | -€6,286 | -28.9% |
| Taxes | 450/3 | €21,784 | €15,498 | -€6,286 | -28.9% |
| Other amounts payable | 47/48 | €723,949 | €867,040 | +€143,090 | +19.8% |
| Accrued charges and deferred income | 492/3 | €16,040 | €14,160 | -€1,880 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,805 | €10,295 | +€490 | +5.0% |
| Other operating charges | 640/8 | €385 | €546 | +€161 | +41.9% |
| Gross operating margin | 9900 | €325,352 | €313,132 | -€12,220 | -3.8% |
| Operating profit (loss) | 9901 | €315,162 | €302,291 | -€12,871 | -4.1% |
| Financial income | 75/76B | €57,374 | €47,547 | -€9,828 | -17.1% |
| Recurring financial income | 75 | €57,374 | €47,547 | -€9,828 | -17.1% |
| Financial charges | 65/66B | €97,821 | €94,293 | -€3,529 | -3.6% |
| Recurring financial charges | 65 | €97,821 | €94,293 | -€3,529 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €274,715 | €255,545 | -€19,170 | -7.0% |
| Income taxes | 67/77 | €63,678 | €61,817 | -€1,861 | -2.9% |
| Profit (loss) for the period | 9904 | €211,037 | €193,728 | -€17,309 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €211,037 | €193,728 | -€17,309 | -8.2% |
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 28 October 2026 via checked.be.