MA-VI: 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.
MA-VI
Largest movements
- Cash -€15,201
down €15,201 (-25.4%), from €59,831 to €44,630
mainly Contributions, distributions and other (-€40,000) and Investment in fixed assets (net) (-€10,230)
- Tangible fixed assets +€7,333
up €7,333 (+248%), from €2,954 to €10,287
of which Land and buildings: +€8,205
- Receivables within one year +€2,508
up €2,508 (+94.5%), from €2,653 to €5,161
of which Trade receivables: +€1,646
- Profit (loss) carried forward -€9,164
down €9,164 (-85.0%), from €10,787 to €1,623
- Trade debts +€2,173
up €2,173 (+66.0%), from €3,294 to €5,467
- Tax, wage and social debts +€1,518
up €1,518 (+13.4%), from €11,312 to €12,830
of which Taxes: +€1,303
- Staff costs +€2,768
up €2,768 (+8.2%), from €33,861 to €36,629
- Gross operating margin -€1,802
down €1,802 (-2.1%), from €85,198 to €83,396
- Depreciation +€1,525
up €1,525 (+111%), from €1,372 to €2,897
- Taxes -€1,380
down €1,380 (-11.0%), from €12,601 to €11,221
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 | €65,548 | €60,187 | -€5,360 | -8.2% |
| Fixed assets | 21/28 | €3,064 | €10,397 | +€7,333 | +239% |
| Tangible fixed assets | 22/27 | €2,954 | €10,287 | +€7,333 | +248% |
| Land and buildings | 22 | €1,264 | €9,470 | +€8,205 | +649% |
| Furniture and vehicles | 24 | €1,689 | €817 | -€872 | -51.6% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €62,484 | €49,791 | -€12,693 | -20.3% |
| Amounts receivable within one year | 40/41 | €2,653 | €5,161 | +€2,508 | +94.5% |
| Trade receivables | 40 | €1,876 | €3,521 | +€1,646 | +87.7% |
| Other amounts receivable | 41 | €777 | €1,640 | +€863 | +111% |
| Cash at bank and in hand | 54/58 | €59,831 | €44,630 | -€15,201 | -25.4% |
| Total equity and liabilities | 10/49 | €65,548 | €60,187 | -€5,360 | -8.2% |
| Equity | 10/15 | €31,192 | €22,028 | -€9,164 | -29.4% |
| 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 | €10,787 | €1,623 | -€9,164 | -85.0% |
| Amounts payable | 17/49 | €34,355 | €38,160 | +€3,804 | +11.1% |
| Amounts payable after more than one year | 17 | €18,550 | €18,550 | = | 0.0% |
| Financial debts | 170/4 | €18,550 | €18,550 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,605 | €18,296 | +€3,691 | +25.3% |
| Trade debts | 44 | €3,294 | €5,467 | +€2,173 | +66.0% |
| Suppliers | 440/4 | €3,294 | €5,467 | +€2,173 | +66.0% |
| Taxes, remuneration and social security | 45 | €11,312 | €12,830 | +€1,518 | +13.4% |
| Taxes | 450/3 | €6,239 | €7,542 | +€1,303 | +20.9% |
| Remuneration and social security | 454/9 | €5,073 | €5,287 | +€215 | +4.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,200 | €1,313 | +€113 | +9.4% |
| Remuneration, social security and pensions | 62 | €33,861 | €36,629 | +€2,768 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,372 | €2,897 | +€1,525 | +111% |
| Other operating charges | 640/8 | €564 | €739 | +€175 | +31.0% |
| Gross operating margin | 9900 | €85,198 | €83,396 | -€1,802 | -2.1% |
| Operating profit (loss) | 9901 | €49,400 | €43,131 | -€6,269 | -12.7% |
| Financial income | 75/76B | €201 | €370 | +€169 | +84.1% |
| Recurring financial income | 75 | €201 | €370 | +€169 | +84.1% |
| Financial charges | 65/66B | €1,585 | €1,445 | -€140 | -8.9% |
| Recurring financial charges | 65 | €1,585 | €1,445 | -€140 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €48,016 | €42,056 | -€5,960 | -12.4% |
| Income taxes | 67/77 | €12,601 | €11,221 | -€1,380 | -11.0% |
| Profit (loss) for the period | 9904 | €35,415 | €30,836 | -€4,579 | -12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,415 | €30,836 | -€4,579 | -12.9% |
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 16 October 2026 via checked.be.