MAVA RE: 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.
MAVA RE
Largest movements
- Tangible fixed assets -€38,267
down €38,267 (-6.1%), from €628,372 to €590,104
of which Land and buildings: -€41,699
- Deferred charges and accrued income +€19,248
up €19,248 (+3814.2%), from €505 to €19,753
- Cash -€11,217
down €11,217 (-39.8%), from €28,159 to €16,942
mainly Debts after one year (-€55,270) and Deferred charges and accrued income (-€19,248)
- Debts after one year -€55,270
down €55,270 (-24.8%), from €222,958 to €167,688
- Advances received +€27,738
new in 2025: €27,738
- Reserves +€19,549
up €19,549 (+5.8%), from €337,354 to €356,902
of which Distributable reserves: +€19,549
- Current portion of long-term debt -€14,618
down €14,618 (-22.3%), from €65,495 to €50,877
- Gross operating margin -€36,887
down €36,887 (-26.1%), from €141,562 to €104,675
- Taxes -€14,084
down €14,084 (-53.9%), from €26,154 to €12,070
- Other operating charges +€7,875
up €7,875 (+63.0%), from €12,491 to €20,366
- Depreciation +€5,578
up €5,578 (+12.7%), from €43,921 to €49,498
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 | €705,565 | €688,222 | -€17,343 | -2.5% |
| Fixed assets | 21/28 | €628,372 | €590,104 | -€38,267 | -6.1% |
| Tangible fixed assets | 22/27 | €628,372 | €590,104 | -€38,267 | -6.1% |
| Land and buildings | 22 | €605,881 | €564,181 | -€41,699 | -6.9% |
| Plant, machinery and equipment | 23 | €16,337 | €13,514 | -€2,823 | -17.3% |
| Furniture and vehicles | 24 | €6,154 | €12,409 | +€6,255 | +101.7% |
| Current assets | 29/58 | €77,193 | €98,117 | +€20,924 | +27.1% |
| Amounts receivable after more than one year | 29 | - | €6,564 | +€6,564 | |
| Other amounts receivable | 291 | - | €6,564 | +€6,564 | |
| Amounts receivable within one year | 40/41 | €48,529 | €54,858 | +€6,329 | +13.0% |
| Trade receivables | 40 | €13,897 | €40,928 | +€27,030 | +194.5% |
| Other amounts receivable | 41 | €34,631 | €13,930 | -€20,701 | -59.8% |
| Cash at bank and in hand | 54/58 | €28,159 | €16,942 | -€11,217 | -39.8% |
| Deferred charges and accrued income | 490/1 | €505 | €19,753 | +€19,248 | +3814.2% |
| Total equity and liabilities | 10/49 | €705,565 | €688,222 | -€17,343 | -2.5% |
| Equity | 10/15 | €399,354 | €418,902 | +€19,549 | +4.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €337,354 | €356,902 | +€19,549 | +5.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €331,154 | €350,702 | +€19,549 | +5.9% |
| Amounts payable | 17/49 | €306,211 | €269,319 | -€36,892 | -12.0% |
| Amounts payable after more than one year | 17 | €222,958 | €167,688 | -€55,270 | -24.8% |
| Financial debts | 170/4 | €222,958 | €167,688 | -€55,270 | -24.8% |
| Amounts payable within one year | 42/48 | €83,253 | €101,631 | +€18,378 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €65,495 | €50,877 | -€14,618 | -22.3% |
| Financial debts | 43 | €2,048 | €2,019 | -€29 | -1.4% |
| Credit institutions | 430/8 | €2,048 | €2,019 | -€29 | -1.4% |
| Trade debts | 44 | €13,556 | €18,352 | +€4,795 | +35.4% |
| Suppliers | 440/4 | €13,556 | €18,352 | +€4,795 | +35.4% |
| Advances received on contracts in progress | 46 | - | €27,738 | +€27,738 | |
| Taxes, remuneration and social security | 45 | €2,154 | €2,645 | +€491 | +22.8% |
| Taxes | 450/3 | €2,154 | €2,645 | +€491 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,921 | €49,498 | +€5,578 | +12.7% |
| Other operating charges | 640/8 | €12,491 | €20,366 | +€7,875 | +63.0% |
| Gross operating margin | 9900 | €141,562 | €104,675 | -€36,887 | -26.1% |
| Operating profit (loss) | 9901 | €85,150 | €34,810 | -€50,340 | -59.1% |
| Financial income | 75/76B | - | €499 | +€499 | |
| Recurring financial income | 75 | - | €499 | +€499 | |
| Non-recurring financial income | 76B | - | €499 | +€499 | |
| Financial charges | 65/66B | €3,719 | €3,690 | -€29 | -0.8% |
| Recurring financial charges | 65 | €3,719 | €3,690 | -€29 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €81,430 | €31,619 | -€49,812 | -61.2% |
| Income taxes | 67/77 | €26,154 | €12,070 | -€14,084 | -53.9% |
| Profit (loss) for the period | 9904 | €55,277 | €19,549 | -€35,728 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,277 | €19,549 | -€35,728 | -64.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.