MAVERCO: 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.
MAVERCO
Largest movements
- Cash +€193,363
up €193,363 (+172.1%), from €112,375 to €305,739
mainly Other debts (+€778,645) and Net result for the year (+€441,694)
- Current investments -€38,898
down €38,898 (-8.8%), from €443,664 to €404,766
- Tangible fixed assets -€23,578
down €23,578 (-22.0%), from €107,154 to €83,576
of which Furniture and vehicles: -€12,547
- Receivables within one year +€8,548
up €8,548 (+66.3%), from €12,887 to €21,435
of which Other amounts receivable: +€8,548
- Other debts +€778,645
up €778,645, from €0 to €778,645
- Reserves -€635,900
down €635,900 (-100.0%), from €635,930 to €30
- Financial income +€214,548
up €214,548 (+42909504.0%), from €1 to €214,548
- Gross operating margin +€29,029
up €29,029 (+9.1%), from €317,287 to €346,316
- Taxes +€8,007
up €8,007 (+10.4%), from €76,859 to €84,866
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 | €684,428 | €825,761 | +€141,333 | +20.6% |
| Fixed assets | 21/28 | €113,165 | €89,587 | -€23,578 | -20.8% |
| Tangible fixed assets | 22/27 | €107,154 | €83,576 | -€23,578 | -22.0% |
| Furniture and vehicles | 24 | €64,230 | €51,683 | -€12,547 | -19.5% |
| Other tangible fixed assets | 26 | €42,924 | €31,893 | -€11,031 | -25.7% |
| Financial fixed assets | 28 | €6,011 | €6,011 | = | 0.0% |
| Current assets | 29/58 | €571,263 | €736,174 | +€164,912 | +28.9% |
| Amounts receivable within one year | 40/41 | €12,887 | €21,435 | +€8,548 | +66.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €12,887 | €21,435 | +€8,548 | +66.3% |
| Current investments | 50/53 | €443,664 | €404,766 | -€38,898 | -8.8% |
| Cash at bank and in hand | 54/58 | €112,375 | €305,739 | +€193,363 | +172.1% |
| Deferred charges and accrued income | 490/1 | €2,336 | €4,235 | +€1,899 | +81.3% |
| Total equity and liabilities | 10/49 | €684,428 | €825,761 | +€141,333 | +20.6% |
| Equity | 10/15 | €654,530 | €18,630 | -€635,900 | -97.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €635,930 | €30 | -€635,900 | -100.0% |
| Distributable reserves | 133 | €635,930 | €30 | -€635,900 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €29,898 | €807,131 | +€777,233 | +2599.7% |
| Amounts payable within one year | 42/48 | €27,288 | €807,131 | +€779,842 | +2857.8% |
| Trade debts | 44 | €6,239 | €1,886 | -€4,353 | -69.8% |
| Suppliers | 440/4 | €6,239 | €1,886 | -€4,353 | -69.8% |
| Taxes, remuneration and social security | 45 | €21,049 | €26,599 | +€5,550 | +26.4% |
| Taxes | 450/3 | €19,240 | €24,799 | +€5,559 | +28.9% |
| Remuneration and social security | 454/9 | €1,810 | €1,800 | -€9 | -0.5% |
| Other amounts payable | 47/48 | €0 | €778,645 | +€778,645 | |
| Accrued charges and deferred income | 492/3 | €2,609 | €0 | -€2,609 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,505 | €29,485 | -€19 | -0.1% |
| Other operating charges | 640/8 | €5,511 | €4,603 | -€909 | -16.5% |
| Gross operating margin | 9900 | €317,287 | €346,316 | +€29,029 | +9.1% |
| Operating profit (loss) | 9901 | €282,270 | €312,228 | +€29,958 | +10.6% |
| Financial income | 75/76B | €1 | €214,548 | +€214,548 | +42909504.0% |
| Recurring financial income | 75 | €1 | €214,548 | +€214,548 | +42909504.0% |
| Financial charges | 65/66B | €888 | €216 | -€672 | -75.7% |
| Recurring financial charges | 65 | €888 | €216 | -€672 | -75.7% |
| Profit (loss) for the period before taxes | 9903 | €281,383 | €526,560 | +€245,177 | +87.1% |
| Income taxes | 67/77 | €76,859 | €84,866 | +€8,007 | +10.4% |
| Profit (loss) for the period | 9904 | €204,524 | €441,694 | +€237,170 | +116.0% |
| Profit (loss) for the period to be appropriated | 9905 | €204,524 | €441,694 | +€237,170 | +116.0% |
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 7 October 2026 via checked.be.