MAVERES: 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.
What changed
MAVERES
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14,642
2024 · -€2,487+€17,129
Equity
€17,532
2024 · €2,891+€14,642
Cash
€4,511
2024 · €15,262-€10,751
Balance sheet total
€1.3m
2024 · €1.3m-€36,779
Largest movements
Assets
- Tangible fixed assets -€22,006
down €22,006 (-1.7%), from €1.3m to €1.3m
of which Land and buildings: -€15,609
Equity and liabilities
- Debts after one year -€40,741
down €40,741 (-8.2%), from €499,311 to €458,570
- Trade debts -€31,050
down €31,050 (-90.2%), from €34,414 to €3,364
- Other debts +€15,427
up €15,427 (+2.0%), from €762,592 to €778,019
- Profit (loss) carried forward +€14,642
up €14,642 (+29.3%), from -€49,919 to -€35,278
Income statement
- Depreciation +€26,044
up €26,044 (+83.9%), from €31,030 to €57,075
- Gross operating margin +€15,302
up €15,302 (+19.7%), from €77,480 to €92,782
- Financial charges -€939
down €939 (-8.3%), from €11,320 to €10,381
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.
Result 2024
-€2,487
Gross operating margin
+€15,302
Depreciation
-€26,044
Other operating charges
+€630
Other operating items
+€26,311
Financial income
-€9
Financial charges
+€939
Result 2025
€14,642
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.
From operations
+€64,290
Investment
-€35,069
Financing
-€39,973
Cash 2024
€15,262
From operations (derived)
+€64,290
Net result for the year
+€14,642
Depreciation
+€57,075
Receivables within one year
-€5,045
Deferred charges and accrued income
+€9,067
Trade debts
-€31,050
Tax, wage and social debts
+€4,392
Other debts
+€15,427
Accrued charges and deferred income
-€218
Investment (derived)
-€35,069
Investment in fixed assets (net)
-€35,069
Financing
-€39,973
Debts after one year
-€40,741
Current portion of long-term debt
+€772
Short-term financial debts
-€4
Cash 2025
€4,511
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,342,744 | €1,305,965 | -€36,779 | -2.7% |
| Fixed assets | 21/28 | €1,304,339 | €1,282,333 | -€22,006 | -1.7% |
| Tangible fixed assets | 22/27 | €1,304,339 | €1,282,333 | -€22,006 | -1.7% |
| Land and buildings | 22 | €1,297,250 | €1,281,641 | -€15,609 | -1.2% |
| Plant, machinery and equipment | 23 | €933 | €496 | -€438 | -46.9% |
| Furniture and vehicles | 24 | €6,155 | €196 | -€5,959 | -96.8% |
| Current assets | 29/58 | €38,406 | €23,632 | -€14,774 | -38.5% |
| Amounts receivable within one year | 40/41 | €6,097 | €11,142 | +€5,045 | +82.7% |
| Trade receivables | 40 | €6,097 | €11,142 | +€5,045 | +82.7% |
| Cash at bank and in hand | 54/58 | €15,262 | €4,511 | -€10,751 | -70.4% |
| Deferred charges and accrued income | 490/1 | €17,046 | €7,979 | -€9,067 | -53.2% |
| Total equity and liabilities | 10/49 | €1,342,744 | €1,305,965 | -€36,779 | -2.7% |
| Equity | 10/15 | €2,891 | €17,532 | +€14,642 | +506.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,210 | €34,210 | = | 0.0% |
| Distributable reserves | 133 | €34,210 | €34,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,919 | -€35,278 | +€14,642 | +29.3% |
| Amounts payable | 17/49 | €1,339,854 | €1,288,433 | -€51,421 | -3.8% |
| Amounts payable after more than one year | 17 | €499,311 | €458,570 | -€40,741 | -8.2% |
| Financial debts | 170/4 | €499,311 | €458,570 | -€40,741 | -8.2% |
| Amounts payable within one year | 42/48 | €840,325 | €829,863 | -€10,462 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €39,969 | €40,741 | +€772 | +1.9% |
| Financial debts | 43 | €4 | €0 | -€4 | -100.0% |
| Credit institutions | 430/8 | €4 | €0 | -€4 | -100.0% |
| Trade debts | 44 | €34,414 | €3,364 | -€31,050 | -90.2% |
| Suppliers | 440/4 | €34,414 | €3,364 | -€31,050 | -90.2% |
| Taxes, remuneration and social security | 45 | €3,346 | €7,739 | +€4,392 | +131.3% |
| Taxes | 450/3 | €2,546 | €5,239 | +€2,692 | +105.7% |
| Remuneration and social security | 454/9 | €800 | €2,500 | +€1,700 | +212.5% |
| Other amounts payable | 47/48 | €762,592 | €778,019 | +€15,427 | +2.0% |
| Accrued charges and deferred income | 492/3 | €218 | €0 | -€218 | -100.0% |
| Non-recurring operating income | 76A | €299 | €0 | -€299 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,030 | €57,075 | +€26,044 | +83.9% |
| Other operating charges | 640/8 | €11,315 | €10,685 | -€630 | -5.6% |
| Non-recurring operating charges | 66A | €26,311 | €0 | -€26,311 | -100.0% |
| Gross operating margin | 9900 | €77,480 | €92,782 | +€15,302 | +19.7% |
| Operating profit (loss) | 9901 | €8,824 | €25,022 | +€16,199 | +183.6% |
| Financial income | 75/76B | €9 | €0 | -€9 | -100.0% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -100.0% |
| Financial charges | 65/66B | €11,320 | €10,381 | -€939 | -8.3% |
| Recurring financial charges | 65 | €11,320 | €10,381 | -€939 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,487 | €14,642 | +€17,129 | |
| Profit (loss) for the period | 9904 | -€2,487 | €14,642 | +€17,129 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,487 | €14,642 | +€17,129 |
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 3 October 2026 via checked.be.