Mavane: 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.
What changed
Mavane
NACE 17.120, Manufacture of paper and paper products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€74,512
2024 · €254,957-€180,445
Equity
€1.7m
2024 · €1.6m+€74,512
Cash
€1.2m
2024 · €564,332+€619,737
Balance sheet total
€9.4m
2024 · €9.3m+€83,869
Largest movements
Assets
- Cash +€619,737
up €619,737 (+109.8%), from €564,332 to €1.2m
mainly Short-term financial debts (+€499,949) and Receivables within one year (+€464,559)
- Receivables within one year -€464,559
down €464,559 (-8.5%), from €5.4m to €5.0m
of which Trade receivables: -€558,369
Equity and liabilities
- Short-term financial debts +€499,949
up €499,949 (+27.5%), from €1.8m to €2.3m
- Trade debts -€295,495
down €295,495 (-10.0%), from €3.0m to €2.7m
- Debts after one year -€133,402
down €133,402 (-6.8%), from €2.0m to €1.8m
Income statement
- Turnover -€1.4m
down €1.4m (-9.2%), from €15.0m to €13.6m
- Goods and materials -€1.4m
down €1.4m (-10.7%), from €12.9m to €11.5m
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.
Result 2024
€254,957
Turnover
-€1.4m
Other operating income
+€40,800
Goods and materials
+€1.4m
Services and other goods
-€23,257
Staff costs
-€50,360
Depreciation
+€62,254
Write-downs
-€87,152
Provisions
+€8,635
Other operating charges
+€4,422
Other operating items
+€657
Financial income
-€34,856
Financial charges
-€88,562
Taxes
-€10,230
Result 2025
€74,512
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.
From operations
+€307,620
Investment
-€58,395
Financing
+€370,512
Cash 2024
€564,332
From operations (derived)
+€307,620
Net result for the year
+€74,512
Depreciation
+€122,153
Receivables within one year
+€464,559
Deferred charges and accrued income
+€7,551
Provisions
-€4,998
Trade debts
-€295,495
Tax, wage and social debts
-€57,300
Other debts
+€5,075
Accrued charges and deferred income
-€8,437
Investment (derived)
-€58,395
Investment in fixed assets (net)
-€58,395
Financing
+€370,512
Debts after one year
-€133,402
Current portion of long-term debt
+€3,965
Short-term financial debts
+€499,949
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,286,240 | €9,370,109 | +€83,869 | +0.9% |
| Fixed assets | 21/28 | €3,246,346 | €3,182,588 | -€63,758 | -2.0% |
| Tangible fixed assets | 22/27 | €3,163,053 | €3,099,295 | -€63,758 | -2.0% |
| Land and buildings | 22 | €2,830,783 | €2,772,533 | -€58,250 | -2.1% |
| Furniture and vehicles | 24 | €265,452 | €276,205 | +€10,753 | +4.1% |
| Other tangible fixed assets | 26 | €66,818 | €50,557 | -€16,261 | -24.3% |
| Financial fixed assets | 28 | €83,293 | €83,293 | = | 0.0% |
| Affiliated companies | 280/1 | €82,181 | €82,181 | = | 0.0% |
| Participating interests | 280 | €82,181 | €82,181 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,112 | €1,112 | = | 0.0% |
| Shares | 284 | €1,112 | €1,112 | = | 0.0% |
| Current assets | 29/58 | €6,039,894 | €6,187,521 | +€147,627 | +2.4% |
| Amounts receivable within one year | 40/41 | €5,444,694 | €4,980,135 | -€464,559 | -8.5% |
| Trade receivables | 40 | €5,249,434 | €4,691,065 | -€558,369 | -10.6% |
| Other amounts receivable | 41 | €195,260 | €289,070 | +€93,810 | +48.0% |
| Cash at bank and in hand | 54/58 | €564,332 | €1,184,069 | +€619,737 | +109.8% |
| Deferred charges and accrued income | 490/1 | €30,868 | €23,317 | -€7,551 | -24.5% |
| Total equity and liabilities | 10/49 | €9,286,240 | €9,370,109 | +€83,869 | +0.9% |
| Equity | 10/15 | €1,602,807 | €1,677,319 | +€74,512 | +4.6% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €1,002,807 | €1,077,319 | +€74,512 | +7.4% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €942,807 | €1,017,319 | +€74,512 | +7.9% |
| Provisions and deferred taxes | 16 | €123,007 | €118,009 | -€4,998 | -4.1% |
| Provisions for liabilities and charges | 160/5 | €123,007 | €118,009 | -€4,998 | -4.1% |
| Environmental obligations | 163 | €123,007 | €118,009 | -€4,998 | -4.1% |
| Amounts payable | 17/49 | €7,560,426 | €7,574,781 | +€14,355 | +0.2% |
| Amounts payable after more than one year | 17 | €1,963,329 | €1,829,927 | -€133,402 | -6.8% |
| Financial debts | 170/4 | €1,963,329 | €1,829,927 | -€133,402 | -6.8% |
| Credit institutions | 173 | €1,963,329 | €1,829,927 | -€133,402 | -6.8% |
| Amounts payable within one year | 42/48 | €5,538,700 | €5,694,894 | +€156,194 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €129,437 | €133,402 | +€3,965 | +3.1% |
| Financial debts | 43 | €1,816,979 | €2,316,928 | +€499,949 | +27.5% |
| Credit institutions | 430/8 | €1,816,979 | €2,316,928 | +€499,949 | +27.5% |
| Trade debts | 44 | €2,957,543 | €2,662,048 | -€295,495 | -10.0% |
| Suppliers | 440/4 | €2,957,543 | €2,662,048 | -€295,495 | -10.0% |
| Taxes, remuneration and social security | 45 | €138,937 | €81,637 | -€57,300 | -41.2% |
| Taxes | 450/3 | €112,130 | €48,750 | -€63,380 | -56.5% |
| Remuneration and social security | 454/9 | €26,807 | €32,887 | +€6,080 | +22.7% |
| Other amounts payable | 47/48 | €495,804 | €500,879 | +€5,075 | +1.0% |
| Accrued charges and deferred income | 492/3 | €58,397 | €49,960 | -€8,437 | -14.4% |
| Operating income | 70/76A | €15,076,510 | €13,731,177 | -€1.3m | -8.9% |
| Turnover | 70 | €15,024,894 | €13,643,037 | -€1.4m | -9.2% |
| Other operating income | 74 | €47,340 | €88,140 | +€40,800 | +86.2% |
| Non-recurring operating income | 76A | €4,276 | - | -€4,276 | |
| Operating charges | 60/66A | €14,436,120 | €13,137,584 | -€1.3m | -9.0% |
| Goods for resale, raw materials and consumables | 60 | €12,912,027 | €11,532,966 | -€1.4m | -10.7% |
| Purchases | 600/8 | €12,912,027 | €11,532,966 | -€1.4m | -10.7% |
| Services and other goods | 61 | €1,192,669 | €1,215,926 | +€23,257 | +1.9% |
| Remuneration, social security and pensions | 62 | €226,542 | €276,902 | +€50,360 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,407 | €122,153 | -€62,254 | -33.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€100,352 | -€13,200 | +€87,152 | +86.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,637 | -€4,998 | -€8,635 | |
| Other operating charges | 640/8 | €12,257 | €7,835 | -€4,422 | -36.1% |
| Non-recurring operating charges | 66A | €4,933 | - | -€4,933 | |
| Operating profit (loss) | 9901 | €640,390 | €593,593 | -€46,797 | -7.3% |
| Financial income | 75/76B | €50,797 | €15,941 | -€34,856 | -68.6% |
| Recurring financial income | 75 | €14,786 | €11,584 | -€3,202 | -21.7% |
| Other financial income | 752/9 | €14,786 | €11,584 | -€3,202 | -21.7% |
| Non-recurring financial income | 76B | €36,011 | €4,357 | -€31,654 | -87.9% |
| Financial charges | 65/66B | €403,580 | €492,142 | +€88,562 | +21.9% |
| Recurring financial charges | 65 | €403,580 | €492,142 | +€88,562 | +21.9% |
| Debt charges | 650 | €238,949 | €207,327 | -€31,622 | -13.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €14,619 | €12,514 | -€2,105 | -14.4% |
| Other financial charges | 652/9 | €150,012 | €272,301 | +€122,289 | +81.5% |
| Profit (loss) for the period before taxes | 9903 | €287,607 | €117,392 | -€170,215 | -59.2% |
| Income taxes | 67/77 | €32,650 | €42,880 | +€10,230 | +31.3% |
| Taxes | 670/3 | €32,650 | €42,880 | +€10,230 | +31.3% |
| Profit (loss) for the period | 9904 | €254,957 | €74,512 | -€180,445 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €254,957 | €74,512 | -€180,445 | -70.8% |
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 30 September 2026 via checked.be.