MAAVDNBO: 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.
MAAVDNBO
Largest movements
- Cash -€9,459
down €9,459 (-8.6%), from €109,365 to €99,906
mainly Contributions, distributions and other (-€150,859) and Tax, wage and social debts (-€1,355)
- Receivables within one year -€4,445
down €4,445 (-26.8%), from €16,604 to €12,159
of which Trade receivables: -€4,520
- Tangible fixed assets -€1,450
down €1,450 (-21.7%), from €6,685 to €5,235
- Reserves -€92,507
down €92,507 (-77.7%), from €119,053 to €26,546
- Other debts +€78,239
up €78,239 (+12247.8%), from €639 to €78,878
- Tax, wage and social debts -€1,355
down €1,355 (-17.4%), from €7,781 to €6,426
- Taxes +€9,293
up €9,293 (+57.9%), from €16,054 to €25,348
- Gross operating margin +€4,984
up €4,984 (+6.1%), from €81,458 to €86,442
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 | €135,058 | €119,628 | -€15,430 | -11.4% |
| Fixed assets | 21/28 | €6,685 | €5,235 | -€1,450 | -21.7% |
| Tangible fixed assets | 22/27 | €6,685 | €5,235 | -€1,450 | -21.7% |
| Furniture and vehicles | 24 | €6,685 | €5,235 | -€1,450 | -21.7% |
| Current assets | 29/58 | €128,373 | €114,394 | -€13,980 | -10.9% |
| Amounts receivable within one year | 40/41 | €16,604 | €12,159 | -€4,445 | -26.8% |
| Trade receivables | 40 | €16,604 | €12,084 | -€4,520 | -27.2% |
| Other amounts receivable | 41 | €0 | €75 | +€75 | |
| Cash at bank and in hand | 54/58 | €109,365 | €99,906 | -€9,459 | -8.6% |
| Deferred charges and accrued income | 490/1 | €2,404 | €2,328 | -€76 | -3.2% |
| Total equity and liabilities | 10/49 | €135,058 | €119,628 | -€15,430 | -11.4% |
| Equity | 10/15 | €124,053 | €31,546 | -€92,507 | -74.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €119,053 | €26,546 | -€92,507 | -77.7% |
| Distributable reserves | 133 | €119,053 | €26,546 | -€92,507 | -77.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €11,005 | €88,082 | +€77,077 | +700.4% |
| Amounts payable within one year | 42/48 | €11,005 | €88,082 | +€77,077 | +700.4% |
| Trade debts | 44 | €2,586 | €2,778 | +€192 | +7.4% |
| Suppliers | 440/4 | €2,586 | €2,778 | +€192 | +7.4% |
| Taxes, remuneration and social security | 45 | €7,781 | €6,426 | -€1,355 | -17.4% |
| Taxes | 450/3 | €7,781 | €6,426 | -€1,355 | -17.4% |
| Other amounts payable | 47/48 | €639 | €78,878 | +€78,239 | +12247.8% |
| Non-recurring operating income | 76A | - | €672 | +€672 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,003 | €1,640 | -€363 | -18.1% |
| Other operating charges | 640/8 | €629 | €730 | +€100 | +15.9% |
| Gross operating margin | 9900 | €81,458 | €86,442 | +€4,984 | +6.1% |
| Operating profit (loss) | 9901 | €78,825 | €84,072 | +€5,247 | +6.7% |
| Financial charges | 65/66B | €186 | €373 | +€187 | +100.4% |
| Recurring financial charges | 65 | €186 | €373 | +€187 | +100.4% |
| Profit (loss) for the period before taxes | 9903 | €78,640 | €83,700 | +€5,060 | +6.4% |
| Income taxes | 67/77 | €16,054 | €25,348 | +€9,293 | +57.9% |
| Profit (loss) for the period | 9904 | €62,585 | €58,352 | -€4,233 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,585 | €58,352 | -€4,233 | -6.8% |
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 8 October 2026 via checked.be.