Mavado: 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.
Mavado
Largest movements
- Cash +€61,657
up €61,657 (+279.3%), from €22,072 to €83,729
mainly Net result for the year (+€46,383) and Tax, wage and social debts (+€12,345)
- Tangible fixed assets -€9,011
down €9,011 (-19.8%), from €45,481 to €36,470
of which Furniture and vehicles: -€9,998
- Receivables within one year -€1,832
down €1,832 (-12.5%), from €14,660 to €12,828
- Reserves +€46,383
up €46,383 (+109.4%), from €42,392 to €88,775
- Tax, wage and social debts +€12,345
up €12,345 (+70.6%), from €17,481 to €29,827
- Debts after one year -€8,599
down €8,599 (-79.6%), from €10,806 to €2,207
- Gross operating margin +€6,715
up €6,715 (+10.4%), from €64,787 to €71,502
- Depreciation +€1,496
up €1,496 (+14.2%), from €10,556 to €12,052
- Taxes +€1,127
up €1,127 (+10.2%), from €11,001 to €12,127
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 | €83,071 | €133,942 | +€50,871 | +61.2% |
| Formation expenses | 20 | €196 | - | -€196 | |
| Fixed assets | 21/28 | €45,481 | €36,470 | -€9,011 | -19.8% |
| Tangible fixed assets | 22/27 | €45,481 | €36,470 | -€9,011 | -19.8% |
| Plant, machinery and equipment | 23 | €3,288 | €4,275 | +€987 | +30.0% |
| Furniture and vehicles | 24 | €42,193 | €32,195 | -€9,998 | -23.7% |
| Current assets | 29/58 | €37,394 | €97,472 | +€60,078 | +160.7% |
| Stocks and contracts in progress | 3 | €323 | €293 | -€31 | -9.5% |
| Stocks | 30/36 | €323 | €293 | -€31 | -9.5% |
| Amounts receivable within one year | 40/41 | €14,660 | €12,828 | -€1,832 | -12.5% |
| Trade receivables | 40 | €14,660 | €12,828 | -€1,832 | -12.5% |
| Cash at bank and in hand | 54/58 | €22,072 | €83,729 | +€61,657 | +279.3% |
| Deferred charges and accrued income | 490/1 | €340 | €623 | +€283 | +83.4% |
| Total equity and liabilities | 10/49 | €83,071 | €133,942 | +€50,871 | +61.2% |
| Equity | 10/15 | €44,892 | €91,275 | +€46,383 | +103.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €42,392 | €88,775 | +€46,383 | +109.4% |
| Distributable reserves | 133 | €42,392 | €88,775 | +€46,383 | +109.4% |
| Amounts payable | 17/49 | €38,179 | €42,667 | +€4,488 | +11.8% |
| Amounts payable after more than one year | 17 | €10,806 | €2,207 | -€8,599 | -79.6% |
| Financial debts | 170/4 | €10,806 | €2,207 | -€8,599 | -79.6% |
| Amounts payable within one year | 42/48 | €27,373 | €40,460 | +€13,087 | +47.8% |
| Current portion of amounts payable after more than one year | 42 | €8,242 | €8,599 | +€357 | +4.3% |
| Trade debts | 44 | €1,630 | €1,788 | +€158 | +9.7% |
| Suppliers | 440/4 | €1,630 | €1,788 | +€158 | +9.7% |
| Taxes, remuneration and social security | 45 | €17,481 | €29,827 | +€12,345 | +70.6% |
| Taxes | 450/3 | €17,481 | €29,827 | +€12,345 | +70.6% |
| Other amounts payable | 47/48 | €20 | €246 | +€226 | +1130.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,556 | €12,052 | +€1,496 | +14.2% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €64,787 | €71,502 | +€6,715 | +10.4% |
| Operating profit (loss) | 9901 | €54,231 | €59,330 | +€5,099 | +9.4% |
| Financial income | 75/76B | €8 | €3 | -€5 | -66.7% |
| Recurring financial income | 75 | €8 | €3 | -€5 | -66.7% |
| Financial charges | 65/66B | €847 | €823 | -€24 | -2.8% |
| Recurring financial charges | 65 | €847 | €823 | -€24 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €53,393 | €58,510 | +€5,118 | +9.6% |
| Income taxes | 67/77 | €11,001 | €12,127 | +€1,127 | +10.2% |
| Profit (loss) for the period | 9904 | €42,392 | €46,383 | +€3,991 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,392 | €46,383 | +€3,991 | +9.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.