MAVDB: 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.
MAVDB
Largest movements
- Tangible fixed assets +€24,493
up €24,493 (+311.1%), from €7,873 to €32,366
of which Furniture and vehicles: +€24,595
- Cash -€18,442
down €18,442 (-95.6%), from €19,300 to €858
mainly Investment in fixed assets (net) (-€29,840) and Tax, wage and social debts (-€2,935)
- Receivables within one year -€3,373
down €3,373 (-23.8%), from €14,170 to €10,796
of which Trade receivables: -€9,350
- Profit (loss) carried forward +€5,699
up €5,699 (+21.0%), from €27,128 to €32,827
- Tax, wage and social debts -€2,935
down €2,935 (-24.8%), from €11,848 to €8,913
- Gross operating margin -€22,862
down €22,862 (-64.6%), from €35,405 to €12,543
- Taxes -€5,660
down €5,660 (-77.7%), from €7,287 to €1,626
- Depreciation +€4,681
up €4,681 (+702.4%), from €666 to €5,347
- Financial income +€408
up €408 (+442.8%), from €92 to €500
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 | €41,342 | €44,020 | +€2,678 | +6.5% |
| Fixed assets | 21/28 | €7,873 | €32,366 | +€24,493 | +311.1% |
| Tangible fixed assets | 22/27 | €7,873 | €32,366 | +€24,493 | +311.1% |
| Furniture and vehicles | 24 | €6,919 | €31,514 | +€24,595 | +355.5% |
| Other tangible fixed assets | 26 | €954 | €852 | -€102 | -10.7% |
| Current assets | 29/58 | €33,469 | €11,654 | -€21,815 | -65.2% |
| Amounts receivable within one year | 40/41 | €14,170 | €10,796 | -€3,373 | -23.8% |
| Trade receivables | 40 | €9,350 | €0 | -€9,350 | -100.0% |
| Other amounts receivable | 41 | €4,820 | €10,796 | +€5,977 | +124.0% |
| Cash at bank and in hand | 54/58 | €19,300 | €858 | -€18,442 | -95.6% |
| Total equity and liabilities | 10/49 | €41,342 | €44,020 | +€2,678 | +6.5% |
| Equity | 10/15 | €29,128 | €34,827 | +€5,699 | +19.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,128 | €32,827 | +€5,699 | +21.0% |
| Amounts payable | 17/49 | €12,214 | €9,193 | -€3,021 | -24.7% |
| Amounts payable within one year | 42/48 | €12,214 | €9,193 | -€3,021 | -24.7% |
| Trade debts | 44 | €366 | €280 | -€86 | -23.5% |
| Suppliers | 440/4 | €366 | €280 | -€86 | -23.5% |
| Taxes, remuneration and social security | 45 | €11,848 | €8,913 | -€2,935 | -24.8% |
| Taxes | 450/3 | €11,848 | €8,913 | -€2,935 | -24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €666 | €5,347 | +€4,681 | +702.4% |
| Other operating charges | 640/8 | €306 | €222 | -€84 | -27.5% |
| Gross operating margin | 9900 | €35,405 | €12,543 | -€22,862 | -64.6% |
| Operating profit (loss) | 9901 | €34,433 | €6,975 | -€27,458 | -79.7% |
| Financial income | 75/76B | €92 | €500 | +€408 | +442.8% |
| Recurring financial income | 75 | €92 | €500 | +€408 | +442.8% |
| Financial charges | 65/66B | €110 | €150 | +€39 | +35.7% |
| Recurring financial charges | 65 | €110 | €150 | +€39 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €34,415 | €7,325 | -€27,090 | -78.7% |
| Income taxes | 67/77 | €7,287 | €1,626 | -€5,660 | -77.7% |
| Profit (loss) for the period | 9904 | €27,128 | €5,699 | -€21,429 | -79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,128 | €5,699 | -€21,429 | -79.0% |
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 7 October 2026 via checked.be.