Mauco & AV8: 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.
Mauco & AV8
Largest movements
- Tangible fixed assets +€77,282
up €77,282 (+30.0%), from €257,824 to €335,106
of which Land and buildings: +€91,422
- Receivables within one year +€27,398
up €27,398 (+227%), from €12,053 to €39,450
of which Other amounts receivable: +€16,061
- Debts after one year +€75,196
up €75,196 (+50.1%), from €150,000 to €225,196
- Trade debts +€22,453
up €22,453 (+252%), from €8,917 to €31,370
- Reserves +€19,549
up €19,549 (+28.5%), from €68,645 to €88,194
- Other debts -€13,799
down €13,799 (-76.9%), from €17,953 to €4,154
- Current portion of long-term debt +€8,766
new in 2025: €8,766
- Other operating charges -€15,862
down €15,862 (-49.3%), from €32,198 to €16,336
- Gross operating margin -€13,625
down €13,625 (-15.6%), from €87,175 to €73,550
- Depreciation +€9,261
up €9,261 (+63.4%), from €14,608 to €23,869
- Financial charges +€4,867
up €4,867 (+270%), from €1,802 to €6,668
- Taxes -€2,921
down €2,921 (-27.9%), from €10,453 to €7,532
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 | €275,350 | €380,514 | +€105,164 | +38.2% |
| Fixed assets | 21/28 | €260,748 | €338,016 | +€77,268 | +29.6% |
| Intangible fixed assets | 21 | €14 | - | -€14 | |
| Tangible fixed assets | 22/27 | €257,824 | €335,106 | +€77,282 | +30.0% |
| Land and buildings | 22 | €215,670 | €307,092 | +€91,422 | +42.4% |
| Plant, machinery and equipment | 23 | €5,708 | €5,108 | -€600 | -10.5% |
| Furniture and vehicles | 24 | €36,446 | €22,907 | -€13,540 | -37.1% |
| Financial fixed assets | 28 | €2,910 | €2,910 | = | 0.0% |
| Current assets | 29/58 | €14,602 | €42,498 | +€27,896 | +191% |
| Amounts receivable within one year | 40/41 | €12,053 | €39,450 | +€27,398 | +227% |
| Trade receivables | 40 | €9,535 | €20,872 | +€11,336 | +119% |
| Other amounts receivable | 41 | €2,517 | €18,579 | +€16,061 | +638% |
| Cash at bank and in hand | 54/58 | €1,333 | €657 | -€676 | -50.7% |
| Deferred charges and accrued income | 490/1 | €1,216 | €2,391 | +€1,175 | +96.6% |
| Total equity and liabilities | 10/49 | €275,350 | €380,514 | +€105,164 | +38.2% |
| Equity | 10/15 | €71,645 | €91,194 | +€19,549 | +27.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €68,645 | €88,194 | +€19,549 | +28.5% |
| Distributable reserves | 133 | €68,645 | €88,194 | +€19,549 | +28.5% |
| Amounts payable | 17/49 | €203,706 | €289,320 | +€85,615 | +42.0% |
| Amounts payable after more than one year | 17 | €150,000 | €225,196 | +€75,196 | +50.1% |
| Financial debts | 170/4 | €150,000 | €225,196 | +€75,196 | +50.1% |
| Amounts payable within one year | 42/48 | €53,706 | €64,124 | +€10,418 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | - | €8,766 | +€8,766 | |
| Trade debts | 44 | €8,917 | €31,370 | +€22,453 | +252% |
| Suppliers | 440/4 | €8,917 | €31,370 | +€22,453 | +252% |
| Taxes, remuneration and social security | 45 | €26,835 | €19,834 | -€7,001 | -26.1% |
| Taxes | 450/3 | €23,835 | €19,834 | -€4,001 | -16.8% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €17,953 | €4,154 | -€13,799 | -76.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,608 | €23,869 | +€9,261 | +63.4% |
| Other operating charges | 640/8 | €32,198 | €16,336 | -€15,862 | -49.3% |
| Gross operating margin | 9900 | €87,175 | €73,550 | -€13,625 | -15.6% |
| Operating profit (loss) | 9901 | €40,369 | €33,345 | -€7,024 | -17.4% |
| Financial income | 75/76B | €197 | €404 | +€208 | +106% |
| Recurring financial income | 75 | €197 | €404 | +€208 | +106% |
| Financial charges | 65/66B | €1,802 | €6,668 | +€4,867 | +270% |
| Recurring financial charges | 65 | €1,802 | €6,668 | +€4,867 | +270% |
| Profit (loss) for the period before taxes | 9903 | €38,764 | €27,081 | -€11,683 | -30.1% |
| Income taxes | 67/77 | €10,453 | €7,532 | -€2,921 | -27.9% |
| Profit (loss) for the period | 9904 | €28,312 | €19,549 | -€8,762 | -30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,312 | €19,549 | -€8,762 | -30.9% |
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 21 October 2026 via checked.be.