MAVALIMMO: 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.
MAVALIMMO
Largest movements
- Tangible fixed assets -€52,497
down €52,497 (-2.6%), from €2.0m to €1.9m
- Provisions -€99,414
no longer reported in 2025 (was €99,414)
- Reserves +€89,334
up €89,334 (+11.2%), from €795,545 to €884,879
of which Tax-exempt reserves: +€67,624
- Debts after one year -€59,850
down €59,850 (-20.6%), from €290,112 to €230,262
- Gross operating margin -€13,384
down €13,384 (-8.7%), from €153,233 to €139,849
- Taxes -€4,565
down €4,565 (-12.8%), from €35,563 to €30,998
- Financial charges +€3,461
up €3,461 (+252%), from €1,374 to €4,835
- Other operating charges -€2,703
down €2,703 (-13.4%), from €20,114 to €17,412
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 | €2,068,174 | €2,008,077 | -€60,097 | -2.9% |
| Fixed assets | 21/28 | €1,997,276 | €1,944,779 | -€52,497 | -2.6% |
| Tangible fixed assets | 22/27 | €1,997,276 | €1,944,779 | -€52,497 | -2.6% |
| Land and buildings | 22 | €1,997,276 | €1,944,779 | -€52,497 | -2.6% |
| Current assets | 29/58 | €70,898 | €63,297 | -€7,600 | -10.7% |
| Amounts receivable within one year | 40/41 | €2,000 | €5,600 | +€3,600 | +180% |
| Other amounts receivable | 41 | €2,000 | €5,600 | +€3,600 | +180% |
| Cash at bank and in hand | 54/58 | €68,898 | €57,697 | -€11,200 | -16.3% |
| Total equity and liabilities | 10/49 | €2,068,174 | €2,008,077 | -€60,097 | -2.9% |
| Equity | 10/15 | €1,587,136 | €1,676,470 | +€89,334 | +5.6% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €795,545 | €884,879 | +€89,334 | +11.2% |
| Non-distributable reserves | 130/1 | €29,747 | €29,747 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,747 | €29,747 | = | 0.0% |
| Tax-exempt reserves | 132 | €397,655 | €465,279 | +€67,624 | +17.0% |
| Distributable reserves | 133 | €368,143 | €389,853 | +€21,710 | +5.9% |
| Profit (loss) carried forward | 14 | €767,591 | €767,591 | = | 0.0% |
| Provisions and deferred taxes | 16 | €99,414 | - | -€99,414 | |
| Deferred taxes | 168 | €99,414 | - | -€99,414 | |
| Amounts payable | 17/49 | €381,624 | €331,606 | -€50,018 | -13.1% |
| Amounts payable after more than one year | 17 | €290,112 | €230,262 | -€59,850 | -20.6% |
| Financial debts | 170/4 | €290,112 | €230,262 | -€59,850 | -20.6% |
| Amounts payable within one year | 42/48 | €91,512 | €101,344 | +€9,832 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €21,500 | €14,278 | -€7,222 | -33.6% |
| Taxes | 450/3 | €21,500 | €14,278 | -€7,222 | -33.6% |
| Other amounts payable | 47/48 | €10,012 | €27,067 | +€17,054 | +170% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,497 | €52,497 | = | 0.0% |
| Other operating charges | 640/8 | €20,114 | €17,412 | -€2,703 | -13.4% |
| Gross operating margin | 9900 | €153,233 | €139,849 | -€13,384 | -8.7% |
| Operating profit (loss) | 9901 | €80,622 | €69,940 | -€10,681 | -13.2% |
| Financial income | 75/76B | - | €81 | +€81 | |
| Recurring financial income | 75 | - | €81 | +€81 | |
| Financial charges | 65/66B | €1,374 | €4,835 | +€3,461 | +252% |
| Recurring financial charges | 65 | €1,374 | €4,835 | +€3,461 | +252% |
| Profit (loss) for the period before taxes | 9903 | €79,247 | €65,186 | -€14,061 | -17.7% |
| Transfer from deferred taxes | 780 | €6,358 | - | -€6,358 | |
| Income taxes | 67/77 | €35,563 | €30,998 | -€4,565 | -12.8% |
| Profit (loss) for the period | 9904 | €50,042 | €34,188 | -€15,854 | -31.7% |
| Transfer from tax-exempt reserves | 789 | €25,432 | €31,790 | +€6,358 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,474 | €65,978 | -€9,496 | -12.6% |
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 13 October 2026 via checked.be.