MAANVALLEI: 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.
MAANVALLEI
Largest movements
- Cash +€57,930
up €57,930 (+132%), from €43,839 to €101,769
mainly Net result for the year (+€94,544) and Tax, wage and social debts (+€31,972)
- Stocks and contracts +€54,583
up €54,583 (+104%), from €52,346 to €106,929
- Receivables within one year +€35,526
up €35,526 (+47.1%), from €75,369 to €110,895
of which Trade receivables: +€28,334
- Tangible fixed assets +€4,523
up €4,523 (+43.7%), from €10,348 to €14,871
of which Plant, machinery and equipment: +€4,470
- Reserves +€94,544
up €94,544 (+213%), from €44,381 to €138,924
- Tax, wage and social debts +€31,972
up €31,972 (+242%), from €13,217 to €45,189
- Other debts +€24,318
up €24,318 (+79.5%), from €30,604 to €54,922
- Trade debts +€20,655
up €20,655 (+60.1%), from €34,389 to €55,044
- Debts after one year -€18,400
down €18,400 (-87.6%), from €21,000 to €2,600
- Gross operating margin +€78,854
up €78,854 (+118%), from €66,626 to €145,480
- Taxes +€27,468
up €27,468 (+154%), from €17,786 to €45,254
- Financial charges +€1,554
up €1,554 (+82.7%), from €1,879 to €3,434
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 | €182,402 | €334,964 | +€152,562 | +83.6% |
| Fixed assets | 21/28 | €10,848 | €15,371 | +€4,523 | +41.7% |
| Tangible fixed assets | 22/27 | €10,348 | €14,871 | +€4,523 | +43.7% |
| Plant, machinery and equipment | 23 | €2,608 | €7,078 | +€4,470 | +171% |
| Furniture and vehicles | 24 | €1,038 | €1,543 | +€506 | +48.7% |
| Other tangible fixed assets | 26 | €6,703 | €6,250 | -€453 | -6.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €171,554 | €319,593 | +€148,039 | +86.3% |
| Stocks and contracts in progress | 3 | €52,346 | €106,929 | +€54,583 | +104% |
| Stocks | 30/36 | €52,346 | €106,929 | +€54,583 | +104% |
| Amounts receivable within one year | 40/41 | €75,369 | €110,895 | +€35,526 | +47.1% |
| Trade receivables | 40 | €65,674 | €94,008 | +€28,334 | +43.1% |
| Other amounts receivable | 41 | €9,695 | €16,887 | +€7,192 | +74.2% |
| Cash at bank and in hand | 54/58 | €43,839 | €101,769 | +€57,930 | +132% |
| Total equity and liabilities | 10/49 | €182,402 | €334,964 | +€152,562 | +83.6% |
| Equity | 10/15 | €81,581 | €176,124 | +€94,544 | +116% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €44,381 | €138,924 | +€94,544 | +213% |
| Distributable reserves | 133 | €44,381 | €138,924 | +€94,544 | +213% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €100,821 | €158,840 | +€58,018 | +57.5% |
| Amounts payable after more than one year | 17 | €21,000 | €2,600 | -€18,400 | -87.6% |
| Financial debts | 170/4 | €21,000 | €2,600 | -€18,400 | -87.6% |
| Amounts payable within one year | 42/48 | €78,210 | €155,155 | +€76,945 | +98.4% |
| Trade debts | 44 | €34,389 | €55,044 | +€20,655 | +60.1% |
| Suppliers | 440/4 | €34,389 | €55,044 | +€20,655 | +60.1% |
| Taxes, remuneration and social security | 45 | €13,217 | €45,189 | +€31,972 | +242% |
| Taxes | 450/3 | €13,217 | €45,189 | +€31,972 | +242% |
| Other amounts payable | 47/48 | €30,604 | €54,922 | +€24,318 | +79.5% |
| Accrued charges and deferred income | 492/3 | €1,611 | €1,085 | -€526 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,098 | €1,633 | +€535 | +48.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €518 | €0 | -€518 | -100% |
| Other operating charges | 640/8 | €607 | €930 | +€323 | +53.2% |
| Gross operating margin | 9900 | €66,626 | €145,480 | +€78,854 | +118% |
| Operating profit (loss) | 9901 | €64,403 | €142,917 | +€78,513 | +122% |
| Financial income | 75/76B | €134 | €315 | +€181 | +134% |
| Recurring financial income | 75 | €134 | €315 | +€181 | +134% |
| Financial charges | 65/66B | €1,879 | €3,434 | +€1,554 | +82.7% |
| Recurring financial charges | 65 | €1,879 | €3,434 | +€1,554 | +82.7% |
| Profit (loss) for the period before taxes | 9903 | €62,658 | €139,798 | +€77,140 | +123% |
| Income taxes | 67/77 | €17,786 | €45,254 | +€27,468 | +154% |
| Profit (loss) for the period | 9904 | €44,872 | €94,544 | +€49,671 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €44,872 | €94,544 | +€49,671 | +111% |
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 17 October 2026 via checked.be.