MAVEEC: what changed
Two financial 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.
MAVEEC
Largest movements
- Receivables within one year -€25,857
down €25,857 (-57.4%), from €45,028 to €19,171
of which Trade receivables: -€23,212
- Tangible fixed assets -€13,486
down €13,486 (-60.7%), from €22,214 to €8,728
of which Furniture and vehicles: -€13,109
- Deferred charges and accrued income -€3,221
down €3,221 (-25.3%), from €12,712 to €9,491
- Financial fixed assets +€3,000
new in 2025: €3,000
- Cash +€1,698
up €1,698 (+3.1%), from €55,085 to €56,783
mainly Net result for the year (+€36,685) and Receivables within one year (+€25,857)
- Other debts -€60,098
down €60,098 (-98.6%), from €60,931 to €833
- Profit (loss) carried forward +€35,852
up €35,852 (+134.7%), from €26,617 to €62,469
- Current portion of long-term debt -€7,647
down €7,647 (-66.5%), from €11,497 to €3,850
- Trade debts -€6,107
no longer reported in 2025 (was €6,107)
- Debts after one year -€3,850
no longer reported in 2025 (was €3,850)
- Gross operating margin -€5,144
down €5,144 (-7.0%), from €73,727 to €68,583
- Taxes -€1,694
down €1,694 (-11.7%), from €14,451 to €12,757
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 | €135,039 | €97,173 | -€37,866 | -28.0% |
| Fixed assets | 21/28 | €22,214 | €11,728 | -€10,486 | -47.2% |
| Tangible fixed assets | 22/27 | €22,214 | €8,728 | -€13,486 | -60.7% |
| Furniture and vehicles | 24 | €21,651 | €8,542 | -€13,109 | -60.5% |
| Other tangible fixed assets | 26 | €563 | €186 | -€377 | -67.0% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €112,825 | €85,445 | -€27,380 | -24.3% |
| Amounts receivable within one year | 40/41 | €45,028 | €19,171 | -€25,857 | -57.4% |
| Trade receivables | 40 | €38,348 | €15,136 | -€23,212 | -60.5% |
| Other amounts receivable | 41 | €6,680 | €4,035 | -€2,645 | -39.6% |
| Cash at bank and in hand | 54/58 | €55,085 | €56,783 | +€1,698 | +3.1% |
| Deferred charges and accrued income | 490/1 | €12,712 | €9,491 | -€3,221 | -25.3% |
| Total equity and liabilities | 10/49 | €135,039 | €97,173 | -€37,866 | -28.0% |
| Equity | 10/15 | €36,617 | €72,469 | +€35,852 | +97.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,617 | €62,469 | +€35,852 | +134.7% |
| Amounts payable | 17/49 | €98,422 | €24,704 | -€73,718 | -74.9% |
| Amounts payable after more than one year | 17 | €3,850 | - | -€3,850 | |
| Financial debts | 170/4 | €3,850 | - | -€3,850 | |
| Amounts payable within one year | 42/48 | €94,572 | €24,704 | -€69,868 | -73.9% |
| Current portion of amounts payable after more than one year | 42 | €11,497 | €3,850 | -€7,647 | -66.5% |
| Financial debts | 43 | - | €1,525 | +€1,525 | |
| Credit institutions | 430/8 | - | €1,525 | +€1,525 | |
| Trade debts | 44 | €6,107 | - | -€6,107 | |
| Suppliers | 440/4 | €6,107 | - | -€6,107 | |
| Taxes, remuneration and social security | 45 | €16,037 | €18,496 | +€2,459 | +15.3% |
| Taxes | 450/3 | €16,037 | €18,496 | +€2,459 | +15.3% |
| Other amounts payable | 47/48 | €60,931 | €833 | -€60,098 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,534 | €12,927 | -€607 | -4.5% |
| Other operating charges | 640/8 | €1,678 | €1,037 | -€641 | -38.2% |
| Non-recurring operating charges | 66A | - | €2,489 | +€2,489 | |
| Gross operating margin | 9900 | €73,727 | €68,583 | -€5,144 | -7.0% |
| Operating profit (loss) | 9901 | €58,515 | €52,130 | -€6,385 | -10.9% |
| Financial income | 75/76B | €1 | €1 | = | 0.0% |
| Recurring financial income | 75 | €1 | €1 | = | 0.0% |
| Financial charges | 65/66B | €3,325 | €2,689 | -€636 | -19.1% |
| Recurring financial charges | 65 | €3,325 | €2,689 | -€636 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €55,191 | €49,442 | -€5,749 | -10.4% |
| Income taxes | 67/77 | €14,451 | €12,757 | -€1,694 | -11.7% |
| Profit (loss) for the period | 9904 | €40,740 | €36,685 | -€4,055 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,740 | €36,685 | -€4,055 | -10.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.