MAVE: 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.
MAVE
Largest movements
- Stocks and contracts -€11,691
no longer reported in 2024 (was €11,691)
- Tangible fixed assets -€5,247
down €5,247 (-14.8%), from €35,572 to €30,325
of which Land and buildings: -€4,773
- Receivables within one year -€2,104
no longer reported in 2024 (was €2,104)
of which Trade receivables: -€1,724
- Cash -€860
down €860 (-77.0%), from €1,117 to €257
mainly Contributions, distributions and other (-€235,000) and Net result for the year (-€19,040)
- Other debts +€239,414
up €239,414 (+131.8%), from €181,662 to €421,076
- Reserves -€235,000
down €235,000 (-85.5%), from €274,773 to €39,773
of which Non-distributable reserves: -€235,000
- Profit (loss) carried forward -€19,040
down €19,040 (-4.4%), from -€430,396 to -€449,437
- Trade debts -€4,087
down €4,087 (-78.7%), from €5,191 to €1,104
- Tax, wage and social debts -€1,190
down €1,190 (-93.2%), from €1,277 to €87
- Purchases and services -€17,155
no longer reported in 2024 (was €17,155)
- Turnover -€12,908
no longer reported in 2024 (was €12,908)
- Write-downs +€11,691
new in 2024: €11,691
- Gross operating margin +€5,458
up €5,458, from -€4,247 to €1,211
- Other operating charges +€2,344
up €2,344 (+342.5%), from €684 to €3,028
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,098 | €31,195 | -€19,903 | -39.0% |
| Fixed assets | 21/28 | €36,142 | €30,895 | -€5,247 | -14.5% |
| Tangible fixed assets | 22/27 | €35,572 | €30,325 | -€5,247 | -14.8% |
| Land and buildings | 22 | €34,437 | €29,665 | -€4,773 | -13.9% |
| Plant, machinery and equipment | 23 | €1,135 | €660 | -€474 | -41.8% |
| Financial fixed assets | 28 | €570 | €570 | = | 0.0% |
| Current assets | 29/58 | €14,956 | €300 | -€14,656 | -98.0% |
| Stocks and contracts in progress | 3 | €11,691 | - | -€11,691 | |
| Stocks | 30/36 | €11,691 | - | -€11,691 | |
| Amounts receivable within one year | 40/41 | €2,104 | - | -€2,104 | |
| Trade receivables | 40 | €1,724 | - | -€1,724 | |
| Other amounts receivable | 41 | €380 | - | -€380 | |
| Current investments | 50/53 | €1 | - | -€1 | |
| Cash at bank and in hand | 54/58 | €1,117 | €257 | -€860 | -77.0% |
| Deferred charges and accrued income | 490/1 | €43 | €43 | = | 0.0% |
| Total equity and liabilities | 10/49 | €51,098 | €31,195 | -€19,903 | -39.0% |
| Equity | 10/15 | -€137,032 | -€391,072 | -€254,040 | -185.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €274,773 | €39,773 | -€235,000 | -85.5% |
| Non-distributable reserves | 130/1 | €236,859 | €1,859 | -€235,000 | -99.2% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €235,000 | - | -€235,000 | |
| Distributable reserves | 133 | €37,913 | €37,913 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€430,396 | -€449,437 | -€19,040 | -4.4% |
| Amounts payable | 17/49 | €188,129 | €422,267 | +€234,138 | +124.5% |
| Amounts payable within one year | 42/48 | €188,129 | €422,267 | +€234,138 | +124.5% |
| Trade debts | 44 | €5,191 | €1,104 | -€4,087 | -78.7% |
| Suppliers | 440/4 | €5,191 | €1,104 | -€4,087 | -78.7% |
| Taxes, remuneration and social security | 45 | €1,277 | €87 | -€1,190 | -93.2% |
| Taxes | 450/3 | €1,277 | €87 | -€1,190 | -93.2% |
| Other amounts payable | 47/48 | €181,662 | €421,076 | +€239,414 | +131.8% |
| Turnover | 70 | €12,908 | - | -€12,908 | |
| Goods, raw materials, services and sundry goods | 60/61 | €17,155 | - | -€17,155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,780 | €5,247 | -€533 | -9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,691 | +€11,691 | |
| Other operating charges | 640/8 | €684 | €3,028 | +€2,344 | +342.5% |
| Gross operating margin | 9900 | -€4,247 | €1,211 | +€5,458 | |
| Operating profit (loss) | 9901 | -€10,711 | -€18,755 | -€8,043 | -75.1% |
| Financial charges | 65/66B | €305 | €66 | -€239 | -78.4% |
| Recurring financial charges | 65 | €305 | €66 | -€239 | -78.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,016 | -€18,820 | -€7,804 | -70.8% |
| Income taxes | 67/77 | -€663 | €220 | +€883 | |
| Profit (loss) for the period | 9904 | -€10,353 | -€19,040 | -€8,688 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,353 | -€19,040 | -€8,688 | -83.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.