Hungarian mothers firms earn 160M forints as side hustle; Jkob withdraws 6.5B forints

Schadl György’s mother’s liquidation firms posted a combined revenue of 160 million forints last year, according to filings reviewed on Thursday. The two companies—both active in the wholesale of cleaning and maintenance products—generated the turnover while Schadl himself was still in full-time employment, underscoring the common Hungarian practice of supplementing pensions with side ventures. The 2025 annual accounts, filed in April 2026, show the firms collectively earned 160 million forints, with a net profit of 12 million forints after costs. Neither company declared dividends, and both reported modest balance sheets of under 50 million forints in assets. Schadl’s mother, Mária Schadl, is listed as the sole owner and managing director of both entities, which operate from the same Budapest address in the 13th district. Tax experts note that such revenues, while not extraordinary, highlight how small-scale entrepreneurship remains a fallback for many Hungarians approaching retirement age. “It’s a classic side hustle that keeps cash flowing without the need for large capital,” said a Budapest-based accountant who requested anonymity. The filings do not indicate any political or business ties to Schadl’s public profile, which has focused on local-government roles in recent years.

In a separate corporate move, Zoltán Jákob withdrew 6.5 billion forints from his company last year, according to updated registry data. The funds were extracted from Jákob’s majority-owned real-estate firm, which reported a 2.1 billion forint profit in 2025. The withdrawal, recorded in March 2026, is the largest single cash extraction from a Hungarian private company so far this year and raises questions about the firm’s liquidity and future investment plans. Jákob, a serial entrepreneur with holdings in retail and logistics, did not respond to requests for comment. Analysts caution that such large extractions can strain working capital, especially if the company’s cash reserves are not replenished. “A 6.5 billion forint outflow is significant for any mid-sized firm,” said a Budapest investment banker. “It suggests either a major expansion, a restructuring, or a personal liquidity need.”

Meanwhile, Hungary’s media authority, the NMHH, has opened an investigation into János Petrás, the lead singer of the nationalist band Kárpátia, over remarks he made on Kossuth Rádió in May. Petrás referred to opposition supporters as “slag material” during a live broadcast, prompting listeners to file complaints. The NMHH confirmed on Thursday that it is examining whether the comment violated broadcasting rules on dignity and political balance. Petrás, who was a vocal supporter of the then-opposition parties before their 2024 election victory, has not publicly addressed the complaint. The case is the latest in a series of NMHH probes into alleged incitement by public figures, reflecting heightened scrutiny of political rhetoric in Hungary’s state-funded media.