MAVECO: 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.
MAVECO
Largest movements
- Cash +€28,843
up €28,843 (+229.0%), from €12,595 to €41,438
mainly Net result for the year (+€23,992) and Tax, wage and social debts (+€8,762)
- Tangible fixed assets +€5,948
new in 2025: €5,948
of which Furniture and vehicles: +€3,909
- Receivables within one year +€3,446
up €3,446 (+36.4%), from €9,473 to €12,920
of which Trade receivables: +€3,446
- Reserves +€23,992
up €23,992 (+253.8%), from €9,452 to €33,444
- Tax, wage and social debts +€8,762
up €8,762 (+89.0%), from €9,844 to €18,606
- Other debts +€4,287
up €4,287 (+226.9%), from €1,889 to €6,176
- Trade debts +€786
up €786 (+55.9%), from €1,408 to €2,194
- Gross operating margin +€21,975
up €21,975 (+127.2%), from €17,282 to €39,257
- Taxes +€4,920
up €4,920 (+112.9%), from €4,358 to €9,278
- Depreciation +€1,453
new in 2025: €1,453
- Financial charges +€1,063
up €1,063 (+30.6%), from €3,473 to €4,536
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 | €23,655 | €61,438 | +€37,783 | +159.7% |
| Fixed assets | 21/28 | - | €5,948 | +€5,948 | |
| Tangible fixed assets | 22/27 | - | €5,948 | +€5,948 | |
| Plant, machinery and equipment | 23 | - | €2,039 | +€2,039 | |
| Furniture and vehicles | 24 | - | €3,909 | +€3,909 | |
| Current assets | 29/58 | €23,655 | €55,490 | +€31,835 | +134.6% |
| Amounts receivable within one year | 40/41 | €9,473 | €12,920 | +€3,446 | +36.4% |
| Trade receivables | 40 | €9,469 | €12,916 | +€3,446 | +36.4% |
| Other amounts receivable | 41 | €4 | €4 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,595 | €41,438 | +€28,843 | +229.0% |
| Deferred charges and accrued income | 490/1 | €1,587 | €1,132 | -€454 | -28.6% |
| Total equity and liabilities | 10/49 | €23,655 | €61,438 | +€37,783 | +159.7% |
| Equity | 10/15 | €10,452 | €34,444 | +€23,992 | +229.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €9,452 | €33,444 | +€23,992 | +253.8% |
| Distributable reserves | 133 | €9,452 | €33,444 | +€23,992 | +253.8% |
| Amounts payable | 17/49 | €13,203 | €26,994 | +€13,791 | +104.5% |
| Amounts payable within one year | 42/48 | €13,142 | €26,976 | +€13,835 | +105.3% |
| Trade debts | 44 | €1,408 | €2,194 | +€786 | +55.9% |
| Suppliers | 440/4 | €1,408 | €2,194 | +€786 | +55.9% |
| Taxes, remuneration and social security | 45 | €9,844 | €18,606 | +€8,762 | +89.0% |
| Taxes | 450/3 | €9,844 | €18,606 | +€8,762 | +89.0% |
| Other amounts payable | 47/48 | €1,889 | €6,176 | +€4,287 | +226.9% |
| Accrued charges and deferred income | 492/3 | €62 | €18 | -€44 | -71.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,453 | +€1,453 | |
| Gross operating margin | 9900 | €17,282 | €39,257 | +€21,975 | +127.2% |
| Operating profit (loss) | 9901 | €17,282 | €37,805 | +€20,523 | +118.8% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €3,473 | €4,536 | +€1,063 | +30.6% |
| Recurring financial charges | 65 | €3,473 | €4,536 | +€1,063 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | €13,809 | €33,271 | +€19,461 | +140.9% |
| Income taxes | 67/77 | €4,358 | €9,278 | +€4,920 | +112.9% |
| Profit (loss) for the period | 9904 | €9,452 | €23,992 | +€14,541 | +153.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,452 | €23,992 | +€14,541 | +153.8% |
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 2 October 2026 via checked.be.