MAV Company: what changed
MAV Company
Largest movements
- Tangible fixed assets +€49,574
new in 2025: €49,574
- Cash -€34,863
down €34,863 (-52.6%), from €66,314 to €31,451
mainly Investment in fixed assets (net) (-€71,171) and Other debts (-€29,800)
- Receivables within one year +€28,966
up €28,966 (+171%), from €16,930 to €45,896
of which Trade receivables: +€17,289
- Financial fixed assets +€1,452
up €1,452 (+334%), from €435 to €1,887
- Debts after one year +€49,919
new in 2025: €49,919
- Other debts -€29,800
down €29,800 (-93.0%), from €32,042 to €2,242
- Accrued charges and deferred income +€18,640
new in 2025: €18,640
- Current portion of long-term debt +€13,278
new in 2025: €13,278
- Trade debts -€12,861
down €12,861 (-28.3%), from €45,380 to €32,519
- Gross operating margin +€28,587
up €28,587 (+269%), from €10,608 to €39,195
- Depreciation +€20,146
new in 2025: €20,146
- Other operating charges +€1,783
up €1,783 (+615%), from €290 to €2,073
- Taxes +€1,336
up €1,336 (+147%), from €911 to €2,247
Change in the result, 31-03-2025 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 31-03-2025 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 31-03-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,679 | €128,808 | +€45,129 | +53.9% |
| Fixed assets | 21/28 | €435 | €51,461 | +€51,026 | +11,730% |
| Tangible fixed assets | 22/27 | - | €49,574 | +€49,574 | |
| Furniture and vehicles | 24 | - | €49,574 | +€49,574 | |
| Financial fixed assets | 28 | €435 | €1,887 | +€1,452 | +334% |
| Current assets | 29/58 | €83,244 | €77,347 | -€5,897 | -7.1% |
| Amounts receivable within one year | 40/41 | €16,930 | €45,896 | +€28,966 | +171% |
| Trade receivables | 40 | €16,930 | €34,219 | +€17,289 | +102% |
| Other amounts receivable | 41 | - | €11,677 | +€11,677 | |
| Cash at bank and in hand | 54/58 | €66,314 | €31,451 | -€34,863 | -52.6% |
| Total equity and liabilities | 10/49 | €83,679 | €128,808 | +€45,129 | +53.9% |
| Equity | 10/15 | €5,000 | €9,963 | +€4,964 | +99.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Contributions outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,500 | €7,463 | +€4,964 | +199% |
| Amounts payable | 17/49 | €78,679 | €118,844 | +€40,165 | +51.0% |
| Amounts payable after more than one year | 17 | - | €49,919 | +€49,919 | |
| Financial debts | 170/4 | - | €49,919 | +€49,919 | |
| Amounts payable within one year | 42/48 | €78,679 | €50,286 | -€28,394 | -36.1% |
| Current portion of amounts payable after more than one year | 42 | - | €13,278 | +€13,278 | |
| Trade debts | 44 | €45,380 | €32,519 | -€12,861 | -28.3% |
| Suppliers | 440/4 | €45,380 | €32,519 | -€12,861 | -28.3% |
| Taxes, remuneration and social security | 45 | €1,257 | €2,247 | +€990 | +78.7% |
| Taxes | 450/3 | €1,257 | €2,247 | +€990 | +78.7% |
| Other amounts payable | 47/48 | €32,042 | €2,242 | -€29,800 | -93.0% |
| Accrued charges and deferred income | 492/3 | - | €18,640 | +€18,640 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €20,146 | +€20,146 | |
| Other operating charges | 640/8 | €290 | €2,073 | +€1,783 | +615% |
| Gross operating margin | 9900 | €10,608 | €39,195 | +€28,587 | +269% |
| Operating profit (loss) | 9901 | €10,318 | €16,976 | +€6,658 | +64.5% |
| Financial charges | 65/66B | €151 | €509 | +€358 | +237% |
| Recurring financial charges | 65 | €151 | €509 | +€358 | +237% |
| Profit (loss) for the period before taxes | 9903 | €10,166 | €16,466 | +€6,300 | +62.0% |
| Income taxes | 67/77 | €911 | €2,247 | +€1,336 | +147% |
| Profit (loss) for the period | 9904 | €9,256 | €14,219 | +€4,964 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,256 | €14,219 | +€4,964 | +53.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.