MA-VA: 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.
MA-VA
Largest movements
- Cash -€4,558
down €4,558 (-21.6%), from €21,116 to €16,557
mainly Other debts (-€6,392) and Net result for the year (-€6,390)
- Receivables within one year -€3,436
down €3,436 (-30.9%), from €11,124 to €7,688
of which Other amounts receivable: -€9,060
- Tangible fixed assets -€524
down €524 (-14.1%), from €3,729 to €3,205
of which Other tangible fixed assets: -€543
- Other debts -€6,392
down €6,392 (-64.9%), from €9,849 to €3,457
- Profit (loss) carried forward -€6,390
down €6,390 (-21.7%), from -€29,443 to -€35,832
- Trade debts +€3,824
up €3,824, from €0 to €3,824
- Tax, wage and social debts +€440
up €440 (+492.3%), from €89 to €529
- Gross operating margin -€7,981
down €7,981, from €4,126 to -€3,855
- Financial income -€1,658
down €1,658 (-91.0%), from €1,823 to €165
of which Financial income: -€1,769
- Depreciation +€308
up €308 (+25.4%), from €1,216 to €1,524
- Taxes -€218
down €218 (-71.4%), from €306 to €87
- Financial charges -€166
down €166 (-27.1%), from €612 to €446
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 | €35,969 | €27,451 | -€8,518 | -23.7% |
| Fixed assets | 21/28 | €3,729 | €3,205 | -€524 | -14.1% |
| Tangible fixed assets | 22/27 | €3,729 | €3,205 | -€524 | -14.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,186 | €3,205 | +€19 | +0.6% |
| Other tangible fixed assets | 26 | €543 | €0 | -€543 | -100.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €32,239 | €24,246 | -€7,994 | -24.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €11,124 | €7,688 | -€3,436 | -30.9% |
| Trade receivables | 40 | €2,064 | €7,688 | +€5,624 | +272.4% |
| Other amounts receivable | 41 | €9,060 | €0 | -€9,060 | -100.0% |
| Cash at bank and in hand | 54/58 | €21,116 | €16,557 | -€4,558 | -21.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €35,969 | €27,451 | -€8,518 | -23.7% |
| Equity | 10/15 | €26,030 | €19,640 | -€6,390 | -24.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,873 | €36,873 | = | 0.0% |
| Distributable reserves | 133 | €36,873 | €36,873 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,443 | -€35,832 | -€6,390 | -21.7% |
| Amounts payable | 17/49 | €9,939 | €7,810 | -€2,128 | -21.4% |
| Amounts payable within one year | 42/48 | €9,939 | €7,810 | -€2,128 | -21.4% |
| Trade debts | 44 | €0 | €3,824 | +€3,824 | |
| Suppliers | 440/4 | €0 | €3,824 | +€3,824 | |
| Taxes, remuneration and social security | 45 | €89 | €529 | +€440 | +492.3% |
| Taxes | 450/3 | €89 | €529 | +€440 | +492.3% |
| Other amounts payable | 47/48 | €9,849 | €3,457 | -€6,392 | -64.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €21,193 | €0 | -€21,193 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,216 | €1,524 | +€308 | +25.4% |
| Other operating charges | 640/8 | €760 | €642 | -€118 | -15.6% |
| Gross operating margin | 9900 | €4,126 | -€3,855 | -€7,981 | |
| Operating profit (loss) | 9901 | €2,150 | -€6,021 | -€8,171 | |
| Financial income | 75/76B | €1,823 | €165 | -€1,658 | -91.0% |
| Recurring financial income | 75 | €1,769 | €0 | -€1,769 | -100.0% |
| Non-recurring financial income | 76B | €54 | €165 | +€111 | +207.6% |
| Financial charges | 65/66B | €612 | €446 | -€166 | -27.1% |
| Recurring financial charges | 65 | €612 | €446 | -€166 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €3,361 | -€6,302 | -€9,664 | |
| Income taxes | 67/77 | €306 | €87 | -€218 | -71.4% |
| Profit (loss) for the period | 9904 | €3,056 | -€6,390 | -€9,445 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,056 | -€6,390 | -€9,445 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.