MAV 68: 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.
MAV 68
Largest movements
- Cash -€50,151
down €50,151 (-18.2%), from €275,157 to €225,006
mainly Other debts (-€69,815) and Trade debts (-€37,358)
- Receivables within one year -€5,437
down €5,437 (-24.2%), from €22,449 to €17,012
of which Trade receivables: -€5,063
- Profit (loss) carried forward +€72,556
up €72,556 (+60.8%), from €119,268 to €191,824
- Other debts -€69,815
down €69,815 (-99.7%), from €70,000 to €185
- Trade debts -€37,358
down €37,358 (-60.4%), from €61,846 to €24,488
- Tax, wage and social debts -€19,012
down €19,012 (-43.0%), from €44,259 to €25,248
of which Taxes: -€18,633
- Turnover -€70,437
down €70,437 (-11.9%), from €591,067 to €520,630
- Gross operating margin -€38,812
down €38,812 (-28.3%), from €137,290 to €98,478
- Purchases and services -€31,174
down €31,174 (-6.9%), from €453,777 to €422,603
- Taxes -€8,748
down €8,748 (-30.2%), from €28,974 to €20,227
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 | €303,618 | €249,804 | -€53,814 | -17.7% |
| Fixed assets | 21/28 | €4,700 | €6,830 | +€2,130 | +45.3% |
| Tangible fixed assets | 22/27 | €4,625 | €6,755 | +€2,130 | +46.1% |
| Furniture and vehicles | 24 | €4,625 | €6,755 | +€2,130 | +46.1% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €298,918 | €242,975 | -€55,944 | -18.7% |
| Amounts receivable within one year | 40/41 | €22,449 | €17,012 | -€5,437 | -24.2% |
| Trade receivables | 40 | €21,964 | €16,900 | -€5,063 | -23.1% |
| Other amounts receivable | 41 | €485 | €111 | -€374 | -77.1% |
| Cash at bank and in hand | 54/58 | €275,157 | €225,006 | -€50,151 | -18.2% |
| Deferred charges and accrued income | 490/1 | €1,312 | €957 | -€356 | -27.1% |
| Total equity and liabilities | 10/49 | €303,618 | €249,804 | -€53,814 | -17.7% |
| Equity | 10/15 | €127,328 | €199,884 | +€72,556 | +57.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,268 | €191,824 | +€72,556 | +60.8% |
| Amounts payable | 17/49 | €176,290 | €49,921 | -€126,370 | -71.7% |
| Amounts payable within one year | 42/48 | €176,105 | €49,921 | -€126,185 | -71.7% |
| Trade debts | 44 | €61,846 | €24,488 | -€37,358 | -60.4% |
| Suppliers | 440/4 | €61,846 | €24,488 | -€37,358 | -60.4% |
| Taxes, remuneration and social security | 45 | €44,259 | €25,248 | -€19,012 | -43.0% |
| Taxes | 450/3 | €38,859 | €20,227 | -€18,633 | -47.9% |
| Remuneration and social security | 454/9 | €5,400 | €5,021 | -€379 | -7.0% |
| Other amounts payable | 47/48 | €70,000 | €185 | -€69,815 | -99.7% |
| Accrued charges and deferred income | 492/3 | €185 | - | -€185 | |
| Turnover | 70 | €591,067 | €520,630 | -€70,437 | -11.9% |
| Non-recurring operating income | 76A | - | €451 | +€451 | |
| Goods, raw materials, services and sundry goods | 60/61 | €453,777 | €422,603 | -€31,174 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,700 | €4,866 | +€1,166 | +31.5% |
| Other operating charges | 640/8 | €805 | €460 | -€345 | -42.9% |
| Gross operating margin | 9900 | €137,290 | €98,478 | -€38,812 | -28.3% |
| Operating profit (loss) | 9901 | €132,785 | €93,152 | -€39,633 | -29.8% |
| Financial income | 75/76B | €2 | €0 | -€1 | -94.7% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -94.7% |
| Financial charges | 65/66B | €1,404 | €370 | -€1,034 | -73.6% |
| Recurring financial charges | 65 | €1,404 | €370 | -€1,034 | -73.6% |
| Profit (loss) for the period before taxes | 9903 | €131,383 | €92,782 | -€38,600 | -29.4% |
| Income taxes | 67/77 | €28,974 | €20,227 | -€8,748 | -30.2% |
| Profit (loss) for the period | 9904 | €102,408 | €72,556 | -€29,852 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €102,408 | €72,556 | -€29,852 | -29.2% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.