MAEVO: 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.
MAEVO
Largest movements
- Receivables within one year -€18,286
down €18,286 (-25.0%), from €73,286 to €55,000
of which Trade receivables: -€22,885
- Tangible fixed assets -€16,320
down €16,320 (-4.3%), from €381,831 to €365,511
of which Other tangible fixed assets: -€25,296
- Trade debts -€21,515
down €21,515 (-71.4%), from €30,143 to €8,628
- Debts after one year -€18,117
down €18,117 (-7.4%), from €244,785 to €226,668
- Current portion of long-term debt +€8,660
up €8,660 (+32.9%), from €26,317 to €34,977
- Short-term financial debts +€7,000
up €7,000 (+60.0%), from €11,667 to €18,667
of which Other loans: +€7,000
- Revaluation surpluses -€5,178
down €5,178 (-4.0%), from €128,312 to €123,133
- Depreciation +€4,590
up €4,590 (+16.4%), from €28,002 to €32,592
- Gross operating margin -€4,286
down €4,286 (-10.1%), from €42,423 to €38,138
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 | €465,989 | €432,430 | -€33,559 | -7.2% |
| Fixed assets | 21/28 | €381,831 | €365,511 | -€16,320 | -4.3% |
| Tangible fixed assets | 22/27 | €381,831 | €365,511 | -€16,320 | -4.3% |
| Plant, machinery and equipment | 23 | €5,233 | €3,165 | -€2,068 | -39.5% |
| Furniture and vehicles | 24 | €10,728 | €21,773 | +€11,045 | +103.0% |
| Other tangible fixed assets | 26 | €365,870 | €340,574 | -€25,296 | -6.9% |
| Current assets | 29/58 | €84,158 | €66,919 | -€17,239 | -20.5% |
| Amounts receivable within one year | 40/41 | €73,286 | €55,000 | -€18,286 | -25.0% |
| Trade receivables | 40 | €39,457 | €16,572 | -€22,885 | -58.0% |
| Other amounts receivable | 41 | €33,830 | €38,428 | +€4,599 | +13.6% |
| Cash at bank and in hand | 54/58 | €8,616 | €10,054 | +€1,438 | +16.7% |
| Deferred charges and accrued income | 490/1 | €2,255 | €1,864 | -€391 | -17.3% |
| Total equity and liabilities | 10/49 | €465,989 | €432,430 | -€33,559 | -7.2% |
| Equity | 10/15 | €145,308 | €140,041 | -€5,267 | -3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €128,312 | €123,133 | -€5,178 | -4.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,464 | -€3,552 | -€89 | -2.6% |
| Amounts payable | 17/49 | €320,681 | €292,389 | -€28,292 | -8.8% |
| Amounts payable after more than one year | 17 | €244,785 | €226,668 | -€18,117 | -7.4% |
| Financial debts | 170/4 | €244,785 | €226,668 | -€18,117 | -7.4% |
| Amounts payable within one year | 42/48 | €74,204 | €65,255 | -€8,948 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €26,317 | €34,977 | +€8,660 | +32.9% |
| Financial debts | 43 | €11,667 | €18,667 | +€7,000 | +60.0% |
| Credit institutions | 430/8 | €6,667 | €6,667 | = | 0.0% |
| Other loans | 439 | €5,000 | €12,000 | +€7,000 | +140.0% |
| Trade debts | 44 | €30,143 | €8,628 | -€21,515 | -71.4% |
| Suppliers | 440/4 | €30,143 | €8,628 | -€21,515 | -71.4% |
| Taxes, remuneration and social security | 45 | €6,078 | €2,984 | -€3,094 | -50.9% |
| Taxes | 450/3 | €6,078 | €2,984 | -€3,094 | -50.9% |
| Accrued charges and deferred income | 492/3 | €1,693 | €466 | -€1,227 | -72.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,002 | €32,592 | +€4,590 | +16.4% |
| Other operating charges | 640/8 | €4,718 | €4,866 | +€148 | +3.1% |
| Non-recurring operating charges | 66A | €12,500 | - | -€12,500 | |
| Gross operating margin | 9900 | €42,423 | €38,138 | -€4,286 | -10.1% |
| Operating profit (loss) | 9901 | -€2,797 | €680 | +€3,477 | |
| Financial income | 75/76B | €1,909 | €1,497 | -€412 | -21.6% |
| Recurring financial income | 75 | €1,909 | €1,497 | -€412 | -21.6% |
| Financial charges | 65/66B | €7,544 | €7,444 | -€101 | -1.3% |
| Recurring financial charges | 65 | €7,544 | €7,444 | -€101 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,432 | -€5,267 | +€3,165 | +37.5% |
| Income taxes | 67/77 | €210 | - | -€210 | |
| Profit (loss) for the period | 9904 | -€8,643 | -€5,267 | +€3,376 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,643 | -€5,267 | +€3,376 | +39.1% |
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 30 September 2026 via checked.be.