Mavemo: 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.
Mavemo
Largest movements
- Current investments +€1.3m
new in 2025: €1.3m
- Cash -€1.1m
down €1.1m (-87.7%), from €1.3m to €158,423
mainly Current investments (-€1.3m) and Smaller working-capital items (-€2,961)
- Receivables within one year -€118,674
down €118,674 (-74.0%), from €160,325 to €41,651
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€81,971
down €81,971 (-93.0%), from €88,133 to €6,162
- Taxes -€25,343
down €25,343 (-99.7%), from €25,414 to €70
- Financial income +€2,307
up €2,307 (+62.0%), from €3,722 to €6,029
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.
Derived cash bridge
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 | €1,684,632 | €1,684,005 | -€628 | 0.0% |
| Fixed assets | 21/28 | €240,937 | €231,808 | -€9,129 | -3.8% |
| Tangible fixed assets | 22/27 | €240,937 | €231,808 | -€9,129 | -3.8% |
| Land and buildings | 22 | €240,937 | €231,808 | -€9,129 | -3.8% |
| Current assets | 29/58 | €1,443,696 | €1,452,196 | +€8,501 | +0.6% |
| Amounts receivable within one year | 40/41 | €160,325 | €41,651 | -€118,674 | -74.0% |
| Other amounts receivable | 41 | €160,325 | €41,651 | -€118,674 | -74.0% |
| Current investments | 50/53 | - | €1,250,000 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €1,283,370 | €158,423 | -€1.1m | -87.7% |
| Deferred charges and accrued income | 490/1 | - | €2,122 | +€2,122 | |
| Total equity and liabilities | 10/49 | €1,684,632 | €1,684,005 | -€628 | 0.0% |
| Equity | 10/15 | €1,680,083 | €1,680,294 | +€211 | 0.0% |
| Contributions | 10/11 | €96,073 | €96,073 | = | 0.0% |
| Reserves | 13 | €1,584,010 | €1,584,010 | = | 0.0% |
| Distributable reserves | 133 | €1,584,010 | €1,584,010 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €211 | +€211 | |
| Amounts payable | 17/49 | €4,550 | €3,711 | -€839 | -18.4% |
| Amounts payable within one year | 42/48 | €4,550 | €3,711 | -€839 | -18.4% |
| Trade debts | 44 | €2,116 | €1,277 | -€839 | -39.7% |
| Suppliers | 440/4 | €2,116 | €1,277 | -€839 | -39.7% |
| Other amounts payable | 47/48 | €2,434 | €2,434 | = | 0.0% |
| Non-recurring operating income | 76A | €90,329 | €0 | -€90,329 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,129 | €9,129 | = | 0.0% |
| Other operating charges | 640/8 | €2,592 | €2,598 | +€6 | +0.2% |
| Gross operating margin | 9900 | €88,133 | €6,162 | -€81,971 | -93.0% |
| Operating profit (loss) | 9901 | €76,412 | -€5,565 | -€81,977 | |
| Financial income | 75/76B | €3,722 | €6,029 | +€2,307 | +62.0% |
| Recurring financial income | 75 | €3,722 | €6,029 | +€2,307 | +62.0% |
| Financial charges | 65/66B | €262 | €182 | -€80 | -30.5% |
| Recurring financial charges | 65 | €262 | €182 | -€80 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €79,872 | €282 | -€79,590 | -99.6% |
| Income taxes | 67/77 | €25,414 | €70 | -€25,343 | -99.7% |
| Profit (loss) for the period | 9904 | €54,458 | €211 | -€54,247 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,458 | €211 | -€54,247 | -99.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.