MAVER HOLDING: 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.
MAVER HOLDING
Largest movements
- Financial fixed assets +€15.7m
up €15.7m (+70.2%), from €22.4m to €38.2m
- Receivables within one year +€988,988
up €988,988 (+181%), from €547,181 to €1.5m
of which Other amounts receivable: +€1.3m
- Revaluation surpluses +€17.2m
new in 2025: €17.2m
- Reserves -€1.9m
down €1.9m (-19.3%), from €9.8m to €7.9m
of which Distributable reserves: -€1.9m
- Debts after one year +€1.0m
up €1.0m (+38.7%), from €2.6m to €3.6m
of which Financial debts: +€750,000
- Current portion of long-term debt -€500,000
down €500,000 (-20.0%), from €2.5m to €2.0m
- Short-term financial debts +€500,000
up €500,000 (+7.7%), from €6.5m to €7.0m
- Financial income -€3.5m
down €3.5m (-98.4%), from €3.5m to €56,400
- Financial charges +€1.4m
up €1.4m (+219%), from €651,069 to €2.1m
of which Non-recurring financial charges: +€1.5m
- Gross operating margin +€259,407
up €259,407, from -€105,400 to €154,007
- Taxes -€248,701
down €248,701 (-100.0%), from €248,701 to €0
- Other operating charges +€5,785
up €5,785 (+479%), from €1,209 to €6,994
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 | €23,029,130 | €39,791,150 | +€16.8m | +72.8% |
| Fixed assets | 21/28 | €22,456,692 | €38,178,108 | +€15.7m | +70.0% |
| Intangible fixed assets | 21 | €5,988 | €4,336 | -€1,652 | -27.6% |
| Tangible fixed assets | 22/27 | €27,539 | €13,947 | -€13,592 | -49.4% |
| Furniture and vehicles | 24 | €27,539 | €13,947 | -€13,592 | -49.4% |
| Financial fixed assets | 28 | €22,423,164 | €38,159,824 | +€15.7m | +70.2% |
| Current assets | 29/58 | €572,439 | €1,613,042 | +€1.0m | +182% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €547,181 | €1,536,168 | +€988,988 | +181% |
| Trade receivables | 40 | €350,303 | €56,400 | -€293,903 | -83.9% |
| Other amounts receivable | 41 | €196,877 | €1,479,768 | +€1.3m | +652% |
| Cash at bank and in hand | 54/58 | €25,258 | €76,874 | +€51,616 | +204% |
| Total equity and liabilities | 10/49 | €23,029,130 | €39,791,150 | +€16.8m | +72.8% |
| Equity | 10/15 | €10,567,721 | €25,912,141 | +€15.3m | +145% |
| Contributions | 10/11 | €776,991 | €776,991 | = | 0.0% |
| Revaluation surpluses | 12 | - | €17,237,961 | +€17.2m | |
| Reserves | 13 | €9,790,730 | €7,897,189 | -€1.9m | -19.3% |
| Non-distributable reserves | 130/1 | €142,791 | €142,791 | = | 0.0% |
| Reserves not available under the articles | 1311 | €142,791 | €142,791 | = | 0.0% |
| Distributable reserves | 133 | €9,647,940 | €7,754,398 | -€1.9m | -19.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €12,461,409 | €13,879,009 | +€1.4m | +11.4% |
| Amounts payable after more than one year | 17 | €2,609,126 | €3,618,668 | +€1.0m | +38.7% |
| Financial debts | 170/4 | €2,000,000 | €2,750,000 | +€750,000 | +37.5% |
| Other amounts payable | 178/9 | €609,126 | €868,668 | +€259,541 | +42.6% |
| Amounts payable within one year | 42/48 | €9,602,710 | €9,954,226 | +€351,516 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €2,500,000 | €2,000,000 | -€500,000 | -20.0% |
| Financial debts | 43 | €6,500,000 | €7,000,000 | +€500,000 | +7.7% |
| Credit institutions | 430/8 | €6,500,000 | €7,000,000 | +€500,000 | +7.7% |
| Trade debts | 44 | €227,691 | €151,367 | -€76,324 | -33.5% |
| Suppliers | 440/4 | €227,691 | €151,367 | -€76,324 | -33.5% |
| Taxes, remuneration and social security | 45 | €255,128 | €250,396 | -€4,731 | -1.9% |
| Taxes | 450/3 | €255,128 | €250,396 | -€4,731 | -1.9% |
| Other amounts payable | 47/48 | €119,891 | €552,463 | +€432,571 | +361% |
| Accrued charges and deferred income | 492/3 | €249,572 | €306,115 | +€56,543 | +22.7% |
| Non-recurring operating income | 76A | €7,381 | €0 | -€7,381 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,477 | €18,035 | +€558 | +3.2% |
| Other operating charges | 640/8 | €1,209 | €6,994 | +€5,785 | +479% |
| Gross operating margin | 9900 | -€105,400 | €154,007 | +€259,407 | |
| Operating profit (loss) | 9901 | -€124,086 | €128,978 | +€253,064 | |
| Financial income | 75/76B | €3,510,869 | €56,400 | -€3.5m | -98.4% |
| Recurring financial income | 75 | €3,510,869 | €56,400 | -€3.5m | -98.4% |
| Financial charges | 65/66B | €651,069 | €2,078,920 | +€1.4m | +219% |
| Recurring financial charges | 65 | €651,069 | €577,619 | -€73,450 | -11.3% |
| Non-recurring financial charges | 66B | - | €1,501,301 | +€1.5m | |
| Profit (loss) for the period before taxes | 9903 | €2,735,714 | -€1,893,542 | -€4.6m | |
| Income taxes | 67/77 | €248,701 | €0 | -€248,701 | -100.0% |
| Profit (loss) for the period | 9904 | €2,487,013 | -€1,893,542 | -€4.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €2,487,013 | -€1,893,542 | -€4.4m |
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.