Mavaho: 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.
Mavaho
Largest movements
- Receivables within one year +€39,155
up €39,155 (+48.5%), from €80,705 to €119,860
of which Trade receivables: +€42,964
- Tangible fixed assets -€17,827
down €17,827 (-23.2%), from €76,732 to €58,906
- Cash -€12,875
down €12,875 (-6.0%), from €215,566 to €202,691
mainly Contributions, distributions and other (-€111,304) and Receivables within one year (-€39,155)
- Tax, wage and social debts +€10,679
up €10,679 (+727%), from €1,469 to €12,148
- Financial income +€44,678
up €44,678 (+105%), from €42,509 to €87,186
- Gross operating margin -€14,916
down €14,916 (-16.7%), from €89,105 to €74,189
- Taxes -€4,703
down €4,703 (-15.6%), from €30,234 to €25,531
- Depreciation +€2,812
up €2,812 (+14.2%), from €19,864 to €22,677
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.
Derived cash bridge
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 | €631,240 | €641,797 | +€10,558 | +1.7% |
| Fixed assets | 21/28 | €329,267 | €311,441 | -€17,827 | -5.4% |
| Tangible fixed assets | 22/27 | €76,732 | €58,906 | -€17,827 | -23.2% |
| Furniture and vehicles | 24 | €76,732 | €58,906 | -€17,827 | -23.2% |
| Financial fixed assets | 28 | €252,535 | €252,535 | = | 0.0% |
| Current assets | 29/58 | €301,972 | €330,356 | +€28,384 | +9.4% |
| Amounts receivable within one year | 40/41 | €80,705 | €119,860 | +€39,155 | +48.5% |
| Trade receivables | 40 | €596 | €43,560 | +€42,964 | +7,214% |
| Other amounts receivable | 41 | €80,109 | €76,300 | -€3,809 | -4.8% |
| Cash at bank and in hand | 54/58 | €215,566 | €202,691 | -€12,875 | -6.0% |
| Deferred charges and accrued income | 490/1 | €5,701 | €7,805 | +€2,104 | +36.9% |
| Total equity and liabilities | 10/49 | €631,240 | €641,797 | +€10,558 | +1.7% |
| Equity | 10/15 | €625,168 | €625,822 | +€654 | +0.1% |
| Contributions | 10/11 | €7,130 | €7,130 | = | 0.0% |
| Reserves | 13 | €617,433 | €618,087 | +€654 | +0.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €615,433 | €616,087 | +€654 | +0.1% |
| Profit (loss) carried forward | 14 | €605 | €605 | = | 0.0% |
| Amounts payable | 17/49 | €6,072 | €15,975 | +€9,904 | +163% |
| Amounts payable within one year | 42/48 | €5,899 | €15,975 | +€10,076 | +171% |
| Trade debts | 44 | €2,559 | €3,827 | +€1,268 | +49.5% |
| Suppliers | 440/4 | €2,559 | €3,827 | +€1,268 | +49.5% |
| Taxes, remuneration and social security | 45 | €1,469 | €12,148 | +€10,679 | +727% |
| Taxes | 450/3 | €1,469 | €12,148 | +€10,679 | +727% |
| Other amounts payable | 47/48 | €1,871 | - | -€1,871 | |
| Accrued charges and deferred income | 492/3 | €173 | - | -€173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,864 | €22,677 | +€2,812 | +14.2% |
| Other operating charges | 640/8 | €953 | €1,116 | +€164 | +17.2% |
| Gross operating margin | 9900 | €89,105 | €74,189 | -€14,916 | -16.7% |
| Operating profit (loss) | 9901 | €68,288 | €50,397 | -€17,892 | -26.2% |
| Financial income | 75/76B | €42,509 | €87,186 | +€44,678 | +105% |
| Recurring financial income | 75 | €42,509 | €87,186 | +€44,678 | +105% |
| Financial charges | 65/66B | €17 | €93 | +€77 | +454% |
| Recurring financial charges | 65 | €17 | €93 | +€77 | +454% |
| Profit (loss) for the period before taxes | 9903 | €110,780 | €137,489 | +€26,709 | +24.1% |
| Income taxes | 67/77 | €30,234 | €25,531 | -€4,703 | -15.6% |
| Profit (loss) for the period | 9904 | €80,546 | €111,958 | +€31,412 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €80,546 | €111,958 | +€31,412 | +39.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.