MAVANT: 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.
MAVANT
Largest movements
- Receivables within one year +€27,710
up €27,710 (+154.0%), from €17,994 to €45,704
of which Other amounts receivable: +€25,522
- Cash +€25,248
up €25,248 (+76.4%), from €33,034 to €58,282
mainly Net result for the year (+€64,312) and Depreciation (+€8,116)
- Tangible fixed assets -€8,116
down €8,116 (-60.5%), from €13,419 to €5,303
of which Leasing and similar rights: -€5,685
- Reserves +€64,312
up €64,312 (+52.5%), from €122,551 to €186,863
- Debts after one year -€19,034
down €19,034 (-49.2%), from €38,707 to €19,673
- Turnover +€38,483
up €38,483 (+22.2%), from €173,072 to €211,555
- Gross operating margin +€26,274
up €26,274 (+31.9%), from €82,369 to €108,643
- Purchases and services +€11,584
up €11,584 (+12.2%), from €95,225 to €106,809
- Taxes +€11,209
up €11,209 (+52.4%), from €21,407 to €32,616
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 | €244,447 | €289,289 | +€44,842 | +18.3% |
| Fixed assets | 21/28 | €193,419 | €185,303 | -€8,116 | -4.2% |
| Tangible fixed assets | 22/27 | €13,419 | €5,303 | -€8,116 | -60.5% |
| Furniture and vehicles | 24 | €6,313 | €3,882 | -€2,431 | -38.5% |
| Leasing and similar rights | 25 | €7,106 | €1,421 | -€5,685 | -80.0% |
| Financial fixed assets | 28 | €180,000 | €180,000 | = | 0.0% |
| Current assets | 29/58 | €51,028 | €103,986 | +€52,958 | +103.8% |
| Amounts receivable within one year | 40/41 | €17,994 | €45,704 | +€27,710 | +154.0% |
| Trade receivables | 40 | €2,943 | €5,131 | +€2,188 | +74.3% |
| Other amounts receivable | 41 | €15,051 | €40,573 | +€25,522 | +169.6% |
| Cash at bank and in hand | 54/58 | €33,034 | €58,282 | +€25,248 | +76.4% |
| Total equity and liabilities | 10/49 | €244,447 | €289,289 | +€44,842 | +18.3% |
| Equity | 10/15 | €141,151 | €205,463 | +€64,312 | +45.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €122,551 | €186,863 | +€64,312 | +52.5% |
| Distributable reserves | 133 | €122,551 | €186,863 | +€64,312 | +52.5% |
| Amounts payable | 17/49 | €103,296 | €83,826 | -€19,470 | -18.8% |
| Amounts payable after more than one year | 17 | €38,707 | €19,673 | -€19,034 | -49.2% |
| Financial debts | 170/4 | €38,707 | €19,673 | -€19,034 | -49.2% |
| Amounts payable within one year | 42/48 | €63,607 | €64,131 | +€524 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €21,160 | €19,034 | -€2,126 | -10.0% |
| Trade debts | 44 | €178 | €1,423 | +€1,245 | +699.4% |
| Suppliers | 440/4 | €178 | €1,423 | +€1,245 | +699.4% |
| Taxes, remuneration and social security | 45 | €42,269 | €43,674 | +€1,405 | +3.3% |
| Taxes | 450/3 | €41,949 | €43,354 | +€1,405 | +3.3% |
| Remuneration and social security | 454/9 | €320 | €320 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €982 | €22 | -€960 | -97.8% |
| Turnover | 70 | €173,072 | €211,555 | +€38,483 | +22.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €95,225 | €106,809 | +€11,584 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,280 | €8,116 | -€1,164 | -12.5% |
| Other operating charges | 640/8 | €3,813 | €2,526 | -€1,287 | -33.8% |
| Gross operating margin | 9900 | €82,369 | €108,643 | +€26,274 | +31.9% |
| Operating profit (loss) | 9901 | €69,276 | €98,001 | +€28,725 | +41.5% |
| Financial income | 75/76B | €448 | €845 | +€397 | +88.6% |
| Recurring financial income | 75 | €448 | €845 | +€397 | +88.6% |
| Financial charges | 65/66B | €2,802 | €1,918 | -€884 | -31.5% |
| Recurring financial charges | 65 | €2,802 | €1,918 | -€884 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €66,922 | €96,928 | +€30,006 | +44.8% |
| Income taxes | 67/77 | €21,407 | €32,616 | +€11,209 | +52.4% |
| Profit (loss) for the period | 9904 | €45,515 | €64,312 | +€18,797 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,515 | €64,312 | +€18,797 | +41.3% |
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.