MAVACA: what changed
MAVACA
Largest movements
- Cash -€26,704
down €26,704 (-31.5%), from €84,877 to €58,174
mainly Receivables within one year (-€11,917) and Stocks and contracts (-€10,280)
- Receivables within one year +€11,917
up €11,917 (+48.6%), from €24,540 to €36,457
of which Trade receivables: +€8,908
- Stocks and contracts +€10,280
up €10,280 (+137%), from €7,521 to €17,800
- Profit (loss) carried forward -€7,265
down €7,265 (-2,016%), from -€360 to -€7,625
- Trade debts +€2,066
up €2,066 (+2,319%), from €89 to €2,155
- Gross operating margin -€8,560
down €8,560, from €3,336 to -€5,224
- Taxes -€613
down €613 (-73.3%), from €836 to €223
- Other operating charges -€548
down €548 (-49.5%), from €1,106 to €558
- Financial income +€276
up €276 (+175%), from €158 to €434
- Financial charges -€218
down €218 (-12.7%), from €1,720 to €1,502
Change in the result, 2024 to 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 2024 and 2025 balance sheets and the 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €122,463 | €117,264 | -€5,199 | -4.2% |
| Fixed assets | 21/28 | €276 | €84 | -€192 | -69.6% |
| Tangible fixed assets | 22/27 | €276 | €84 | -€192 | -69.6% |
| Furniture and vehicles | 24 | €276 | €84 | -€192 | -69.6% |
| Current assets | 29/58 | €122,187 | €117,181 | -€5,007 | -4.1% |
| Stocks and contracts in progress | 3 | €7,521 | €17,800 | +€10,280 | +137% |
| Stocks | 30/36 | €7,521 | €17,800 | +€10,280 | +137% |
| Amounts receivable within one year | 40/41 | €24,540 | €36,457 | +€11,917 | +48.6% |
| Trade receivables | 40 | €22,092 | €31,000 | +€8,908 | +40.3% |
| Other amounts receivable | 41 | €2,448 | €5,457 | +€3,009 | +123% |
| Cash at bank and in hand | 54/58 | €84,877 | €58,174 | -€26,704 | -31.5% |
| Deferred charges and accrued income | 490/1 | €5,250 | €4,750 | -€500 | -9.5% |
| Total equity and liabilities | 10/49 | €122,463 | €117,264 | -€5,199 | -4.2% |
| Equity | 10/15 | €122,374 | €115,109 | -€7,265 | -5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,135 | €104,135 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,659 | €6,659 | = | 0.0% |
| Distributable reserves | 133 | €97,476 | €97,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€360 | -€7,625 | -€7,265 | -2,016% |
| Amounts payable | 17/49 | €89 | €2,155 | +€2,066 | +2,319% |
| Amounts payable within one year | 42/48 | €89 | €2,155 | +€2,066 | +2,319% |
| Trade debts | 44 | €89 | €2,155 | +€2,066 | +2,319% |
| Suppliers | 440/4 | €89 | €2,155 | +€2,066 | +2,319% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192 | €192 | = | 0.0% |
| Other operating charges | 640/8 | €1,106 | €558 | -€548 | -49.5% |
| Gross operating margin | 9900 | €3,336 | -€5,224 | -€8,560 | |
| Operating profit (loss) | 9901 | €2,037 | -€5,974 | -€8,011 | |
| Financial income | 75/76B | €158 | €434 | +€276 | +175% |
| Recurring financial income | 75 | €158 | €434 | +€276 | +175% |
| Financial charges | 65/66B | €1,720 | €1,502 | -€218 | -12.7% |
| Recurring financial charges | 65 | €1,720 | €1,502 | -€218 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €476 | -€7,042 | -€7,518 | |
| Income taxes | 67/77 | €836 | €223 | -€613 | -73.3% |
| Profit (loss) for the period | 9904 | -€360 | -€7,265 | -€6,904 | -1,916% |
| Profit (loss) for the period to be appropriated | 9905 | -€360 | -€7,265 | -€6,904 | -1,916% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.