MAVENING: 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.
MAVENING
Largest movements
- Cash +€36,740
up €36,740 (+23.4%), from €156,949 to €193,689
mainly Net result for the year (+€52,002) and Other debts (+€1,089)
- Receivables within one year +€18,249
up €18,249 (+131.8%), from €13,842 to €32,091
of which Trade receivables: +€15,470
- Reserves +€52,002
up €52,002 (+39.9%), from €130,323 to €182,325
- Gross operating margin -€11,552
down €11,552 (-13.6%), from €84,887 to €73,335
- Taxes -€8,854
down €8,854 (-37.4%), from €23,692 to €14,838
- Other operating charges +€3,879
up €3,879 (+466.1%), from €832 to €4,711
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 | €173,974 | €227,937 | +€53,963 | +31.0% |
| Fixed assets | 21/28 | €2,934 | €1,905 | -€1,030 | -35.1% |
| Tangible fixed assets | 22/27 | €2,934 | €1,905 | -€1,030 | -35.1% |
| Furniture and vehicles | 24 | €2,934 | €1,905 | -€1,030 | -35.1% |
| Current assets | 29/58 | €171,039 | €226,033 | +€54,993 | +32.2% |
| Amounts receivable within one year | 40/41 | €13,842 | €32,091 | +€18,249 | +131.8% |
| Trade receivables | 40 | €13,842 | €29,312 | +€15,470 | +111.8% |
| Other amounts receivable | 41 | - | €2,779 | +€2,779 | |
| Cash at bank and in hand | 54/58 | €156,949 | €193,689 | +€36,740 | +23.4% |
| Deferred charges and accrued income | 490/1 | €249 | €253 | +€4 | +1.6% |
| Total equity and liabilities | 10/49 | €173,974 | €227,937 | +€53,963 | +31.0% |
| Equity | 10/15 | €140,323 | €192,325 | +€52,002 | +37.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €130,323 | €182,325 | +€52,002 | +39.9% |
| Distributable reserves | 133 | €130,323 | €182,325 | +€52,002 | +39.9% |
| Amounts payable | 17/49 | €33,651 | €35,612 | +€1,961 | +5.8% |
| Amounts payable within one year | 42/48 | €33,651 | €35,574 | +€1,923 | +5.7% |
| Trade debts | 44 | €4,007 | €4,205 | +€198 | +4.9% |
| Suppliers | 440/4 | €4,007 | €4,205 | +€198 | +4.9% |
| Taxes, remuneration and social security | 45 | €29,644 | €30,280 | +€636 | +2.1% |
| Taxes | 450/3 | €29,644 | €30,280 | +€636 | +2.1% |
| Other amounts payable | 47/48 | - | €1,089 | +€1,089 | |
| Accrued charges and deferred income | 492/3 | - | €39 | +€39 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,030 | €1,030 | -€0 | 0.0% |
| Other operating charges | 640/8 | €832 | €4,711 | +€3,879 | +466.1% |
| Gross operating margin | 9900 | €84,887 | €73,335 | -€11,552 | -13.6% |
| Operating profit (loss) | 9901 | €83,025 | €67,594 | -€15,431 | -18.6% |
| Financial income | 75/76B | €1 | €0 | -€1 | -88.2% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -88.2% |
| Financial charges | 65/66B | €478 | €753 | +€275 | +57.5% |
| Recurring financial charges | 65 | €478 | €753 | +€275 | +57.5% |
| Profit (loss) for the period before taxes | 9903 | €82,547 | €66,840 | -€15,707 | -19.0% |
| Income taxes | 67/77 | €23,692 | €14,838 | -€8,854 | -37.4% |
| Profit (loss) for the period | 9904 | €58,855 | €52,002 | -€6,853 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,855 | €52,002 | -€6,853 | -11.6% |
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 4 October 2026 via checked.be.