MAVABELLE: 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.
MAVABELLE
Largest movements
- Tangible fixed assets -€24,284
down €24,284 (-17.1%), from €142,397 to €118,113
- Cash +€8,565
up €8,565 (+15.3%), from €56,078 to €64,643
mainly Depreciation (+€33,663) and Net result for the year (+€4,638)
- Receivables within one year +€4,383
up €4,383 (+519.0%), from €845 to €5,228
of which Other amounts receivable: +€3,434
- Stocks and contracts -€3,133
down €3,133 (-19.7%), from €15,865 to €12,732
- Debts after one year -€21,467
down €21,467 (-18.0%), from €119,094 to €97,627
- Reserves +€4,638
up €4,638 (+30.0%), from €15,444 to €20,082
- Current portion of long-term debt -€4,637
down €4,637 (-17.8%), from €26,104 to €21,467
- Other debts +€3,086
up €3,086 (+28.4%), from €10,861 to €13,947
- Accrued charges and deferred income +€2,981
up €2,981 (+130.9%), from €2,277 to €5,258
- Gross operating margin -€20,961
down €20,961 (-17.3%), from €121,071 to €100,110
- Staff costs -€8,801
down €8,801 (-15.0%), from €58,639 to €49,838
- Taxes +€3,297
up €3,297 (+340.6%), from €968 to €4,265
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 | €220,277 | €204,924 | -€15,353 | -7.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €142,632 | €118,113 | -€24,519 | -17.2% |
| Intangible fixed assets | 21 | €236 | €0 | -€236 | -100.0% |
| Tangible fixed assets | 22/27 | €142,397 | €118,113 | -€24,284 | -17.1% |
| Plant, machinery and equipment | 23 | €47,990 | €44,518 | -€3,472 | -7.2% |
| Furniture and vehicles | 24 | €45,196 | €34,502 | -€10,694 | -23.7% |
| Other tangible fixed assets | 26 | €49,212 | €39,093 | -€10,118 | -20.6% |
| Current assets | 29/58 | €77,644 | €86,811 | +€9,167 | +11.8% |
| Stocks and contracts in progress | 3 | €15,865 | €12,732 | -€3,133 | -19.7% |
| Stocks | 30/36 | €15,865 | €12,732 | -€3,133 | -19.7% |
| Amounts receivable within one year | 40/41 | €845 | €5,228 | +€4,383 | +519.0% |
| Trade receivables | 40 | €101 | €1,050 | +€949 | +939.3% |
| Other amounts receivable | 41 | €744 | €4,178 | +€3,434 | +461.9% |
| Cash at bank and in hand | 54/58 | €56,078 | €64,643 | +€8,565 | +15.3% |
| Deferred charges and accrued income | 490/1 | €4,857 | €4,208 | -€649 | -13.4% |
| Total equity and liabilities | 10/49 | €220,277 | €204,924 | -€15,353 | -7.0% |
| Equity | 10/15 | €22,944 | €27,582 | +€4,638 | +20.2% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €15,444 | €20,082 | +€4,638 | +30.0% |
| Distributable reserves | 133 | €15,444 | €20,082 | +€4,638 | +30.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €197,333 | €177,342 | -€19,990 | -10.1% |
| Amounts payable after more than one year | 17 | €119,094 | €97,627 | -€21,467 | -18.0% |
| Financial debts | 170/4 | €119,094 | €97,627 | -€21,467 | -18.0% |
| Amounts payable within one year | 42/48 | €75,961 | €74,457 | -€1,504 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €26,104 | €21,467 | -€4,637 | -17.8% |
| Financial debts | 43 | €22 | €22 | = | 0.0% |
| Credit institutions | 430/8 | €22 | €22 | = | 0.0% |
| Trade debts | 44 | €16,638 | €17,311 | +€673 | +4.0% |
| Suppliers | 440/4 | €16,638 | €17,311 | +€673 | +4.0% |
| Taxes, remuneration and social security | 45 | €22,336 | €21,710 | -€626 | -2.8% |
| Taxes | 450/3 | €15,185 | €14,094 | -€1,091 | -7.2% |
| Remuneration and social security | 454/9 | €7,151 | €7,615 | +€465 | +6.5% |
| Other amounts payable | 47/48 | €10,861 | €13,947 | +€3,086 | +28.4% |
| Accrued charges and deferred income | 492/3 | €2,277 | €5,258 | +€2,981 | +130.9% |
| Remuneration, social security and pensions | 62 | €58,639 | €49,838 | -€8,801 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,265 | €33,663 | +€398 | +1.2% |
| Other operating charges | 640/8 | €4,683 | €4,558 | -€124 | -2.7% |
| Gross operating margin | 9900 | €121,071 | €100,110 | -€20,961 | -17.3% |
| Operating profit (loss) | 9901 | €24,484 | €12,051 | -€12,433 | -50.8% |
| Financial income | 75/76B | €20 | €99 | +€79 | +396.9% |
| Recurring financial income | 75 | €20 | €99 | +€79 | +396.9% |
| Financial charges | 65/66B | €3,682 | €3,248 | -€434 | -11.8% |
| Recurring financial charges | 65 | €3,682 | €3,248 | -€434 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €20,822 | €8,903 | -€11,920 | -57.2% |
| Income taxes | 67/77 | €968 | €4,265 | +€3,297 | +340.6% |
| Profit (loss) for the period | 9904 | €19,854 | €4,638 | -€15,217 | -76.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,854 | €4,638 | -€15,217 | -76.6% |
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 4 October 2026 via checked.be.