MaVen: 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.
MaVen
Largest movements
- Receivables after one year -€140,000
down €140,000 (-45.2%), from €310,000 to €170,000
- Cash +€26,153
up €26,153 (+383,479%), from €7 to €26,160
mainly Receivables after one year (+€140,000) and Other debts (+€129,426)
- Receivables within one year +€15,699
up €15,699 (+56.9%), from €27,591 to €43,290
of which Trade receivables: +€14,806
- Tangible fixed assets -€7,443
down €7,443 (-12.3%), from €60,659 to €53,216
of which Other tangible fixed assets: -€6,297
- Reserves -€237,703
down €237,703 (-63.0%), from €377,566 to €139,862
- Other debts +€129,426
up €129,426 (+874%), from €14,810 to €144,237
- Short-term financial debts -€21,122
down €21,122 (-100%), from €21,122 to €0
- Profit (loss) carried forward +€20,043
up €20,043, from -€20,043 to €0
- Gross operating margin +€151,719
up €151,719, from -€3,361 to €148,359
- Taxes +€34,927
up €34,927 (+9,548%), from €366 to €35,293
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 | €403,719 | €299,611 | -€104,108 | -25.8% |
| Fixed assets | 21/28 | €60,659 | €54,216 | -€6,443 | -10.6% |
| Tangible fixed assets | 22/27 | €60,659 | €53,216 | -€7,443 | -12.3% |
| Furniture and vehicles | 24 | €11,914 | €10,768 | -€1,146 | -9.6% |
| Other tangible fixed assets | 26 | €48,745 | €42,447 | -€6,297 | -12.9% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €343,059 | €245,395 | -€97,665 | -28.5% |
| Amounts receivable after more than one year | 29 | €310,000 | €170,000 | -€140,000 | -45.2% |
| Other amounts receivable | 291 | €310,000 | €170,000 | -€140,000 | -45.2% |
| Amounts receivable within one year | 40/41 | €27,591 | €43,290 | +€15,699 | +56.9% |
| Trade receivables | 40 | €25,877 | €40,683 | +€14,806 | +57.2% |
| Other amounts receivable | 41 | €1,715 | €2,607 | +€893 | +52.1% |
| Cash at bank and in hand | 54/58 | €7 | €26,160 | +€26,153 | +383,479% |
| Deferred charges and accrued income | 490/1 | €5,462 | €5,945 | +€483 | +8.8% |
| Total equity and liabilities | 10/49 | €403,719 | €299,611 | -€104,108 | -25.8% |
| Equity | 10/15 | €357,523 | €139,862 | -€217,660 | -60.9% |
| Reserves | 13 | €377,566 | €139,862 | -€237,703 | -63.0% |
| Distributable reserves | 133 | €377,566 | €139,862 | -€237,703 | -63.0% |
| Profit (loss) carried forward | 14 | -€20,043 | €0 | +€20,043 | |
| Amounts payable | 17/49 | €46,196 | €159,748 | +€113,552 | +246% |
| Amounts payable within one year | 42/48 | €46,196 | €159,748 | +€113,552 | +246% |
| Financial debts | 43 | €21,122 | €0 | -€21,122 | -100% |
| Credit institutions | 430/8 | €21,122 | €0 | -€21,122 | -100% |
| Trade debts | 44 | €2,641 | €5,837 | +€3,196 | +121% |
| Suppliers | 440/4 | €2,641 | €5,837 | +€3,196 | +121% |
| Taxes, remuneration and social security | 45 | €7,622 | €9,675 | +€2,053 | +26.9% |
| Taxes | 450/3 | €7,622 | €7,293 | -€330 | -4.3% |
| Remuneration and social security | 454/9 | - | €2,382 | +€2,382 | |
| Other amounts payable | 47/48 | €14,810 | €144,237 | +€129,426 | +874% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,204 | €13,276 | +€1,072 | +8.8% |
| Other operating charges | 640/8 | €1,006 | €1,040 | +€34 | +3.4% |
| Gross operating margin | 9900 | -€3,361 | €148,359 | +€151,719 | |
| Operating profit (loss) | 9901 | -€16,570 | €134,042 | +€150,612 | |
| Financial income | 75/76B | €10 | €6 | -€4 | -41.0% |
| Recurring financial income | 75 | €10 | €6 | -€4 | -41.0% |
| Financial charges | 65/66B | €3,117 | €2,000 | -€1,117 | -35.8% |
| Recurring financial charges | 65 | €3,117 | €2,000 | -€1,117 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | -€19,677 | €132,048 | +€151,726 | |
| Income taxes | 67/77 | €366 | €35,293 | +€34,927 | +9,548% |
| Profit (loss) for the period | 9904 | -€20,043 | €96,756 | +€116,799 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,043 | €96,756 | +€116,799 |
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 20 October 2026 via checked.be.