MAVENCE: 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.
MAVENCE
Largest movements
- Intangible fixed assets -€109,765
down €109,765 (-33.5%), from €327,234 to €217,468
- Receivables within one year +€78,946
up €78,946 (+44.9%), from €175,811 to €254,757
of which Trade receivables: +€75,946
- Cash -€78,837
down €78,837 (-66.2%), from €119,057 to €40,220
mainly Receivables within one year (-€78,946) and Debts after one year (-€58,681)
- Debts after one year -€58,681
down €58,681 (-45.6%), from €128,564 to €69,884
- Trade debts -€57,551
down €57,551 (-51.0%), from €112,899 to €55,348
- Profit (loss) carried forward -€18,820
down €18,820, from €0 to -€18,820
- Tax, wage and social debts +€17,215
up €17,215 (+91.3%), from €18,857 to €36,072
of which Taxes: +€17,215
- Gross operating margin -€115,514
down €115,514 (-50.5%), from €228,947 to €113,433
- Financial income +€20,574
up €20,574 (+20574280.0%), from €0 to €20,574
- Taxes -€15,402
down €15,402 (-97.9%), from €15,731 to €329
- Financial charges -€11,313
down €11,313 (-22.1%), from €51,222 to €39,908
- Depreciation -€2,838
down €2,838 (-2.5%), from €114,636 to €111,798
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 | €649,400 | €532,995 | -€116,405 | -17.9% |
| Fixed assets | 21/28 | €349,551 | €237,753 | -€111,798 | -32.0% |
| Intangible fixed assets | 21 | €327,234 | €217,468 | -€109,765 | -33.5% |
| Tangible fixed assets | 22/27 | €4,317 | €2,284 | -€2,033 | -47.1% |
| Leasing and similar rights | 25 | €4,317 | €2,284 | -€2,033 | -47.1% |
| Financial fixed assets | 28 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €299,849 | €295,243 | -€4,607 | -1.5% |
| Amounts receivable within one year | 40/41 | €175,811 | €254,757 | +€78,946 | +44.9% |
| Trade receivables | 40 | €107,725 | €183,672 | +€75,946 | +70.5% |
| Other amounts receivable | 41 | €68,086 | €71,086 | +€3,000 | +4.4% |
| Cash at bank and in hand | 54/58 | €119,057 | €40,220 | -€78,837 | -66.2% |
| Deferred charges and accrued income | 490/1 | €4,981 | €265 | -€4,716 | -94.7% |
| Total equity and liabilities | 10/49 | €649,400 | €532,995 | -€116,405 | -17.9% |
| Equity | 10/15 | €139,035 | €120,215 | -€18,820 | -13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,435 | €120,435 | = | 0.0% |
| Distributable reserves | 133 | €120,435 | €120,435 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€18,820 | -€18,820 | |
| Amounts payable | 17/49 | €510,365 | €412,781 | -€97,584 | -19.1% |
| Amounts payable after more than one year | 17 | €128,564 | €69,884 | -€58,681 | -45.6% |
| Financial debts | 170/4 | €128,564 | €69,884 | -€58,681 | -45.6% |
| Amounts payable within one year | 42/48 | €381,801 | €342,897 | -€38,904 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €57,577 | €58,681 | +€1,104 | +1.9% |
| Trade debts | 44 | €112,899 | €55,348 | -€57,551 | -51.0% |
| Suppliers | 440/4 | €112,899 | €55,348 | -€57,551 | -51.0% |
| Taxes, remuneration and social security | 45 | €18,857 | €36,072 | +€17,215 | +91.3% |
| Taxes | 450/3 | €16,607 | €33,822 | +€17,215 | +103.7% |
| Remuneration and social security | 454/9 | €2,250 | €2,250 | = | 0.0% |
| Other amounts payable | 47/48 | €192,467 | €192,795 | +€328 | +0.2% |
| Non-recurring operating income | 76A | €3,138 | €1,982 | -€1,156 | -36.8% |
| Remuneration, social security and pensions | 62 | €170 | €0 | -€170 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,636 | €111,798 | -€2,838 | -2.5% |
| Other operating charges | 640/8 | €1,624 | €793 | -€831 | -51.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €228,947 | €113,433 | -€115,514 | -50.5% |
| Operating profit (loss) | 9901 | €112,517 | €842 | -€111,675 | -99.3% |
| Financial income | 75/76B | €0 | €20,574 | +€20,574 | +20574280.0% |
| Recurring financial income | 75 | €0 | €20,574 | +€20,574 | +20574280.0% |
| Financial charges | 65/66B | €51,222 | €39,908 | -€11,313 | -22.1% |
| Recurring financial charges | 65 | €51,222 | €39,908 | -€11,313 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €61,296 | -€18,492 | -€79,787 | |
| Income taxes | 67/77 | €15,731 | €329 | -€15,402 | -97.9% |
| Profit (loss) for the period | 9904 | €45,565 | -€18,820 | -€64,385 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,565 | -€18,820 | -€64,385 |
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 6 October 2026 via checked.be.