MAVES SOLUTIONS: 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.
MAVES SOLUTIONS
Largest movements
- Tangible fixed assets -€16,743
down €16,743 (-42.8%), from €39,130 to €22,387
- Stocks and contracts +€5,694
up €5,694 (+7.2%), from €79,414 to €85,108
- Cash -€2,430
down €2,430 (-5.1%), from €48,049 to €45,619
mainly Debts after one year (-€28,711) and Trade debts (-€19,522)
- Debts after one year -€28,711
down €28,711 (-71.9%), from €39,912 to €11,201
- Other debts +€27,372
up €27,372 (+32.3%), from €84,688 to €112,060
- Trade debts -€19,522
down €19,522 (-89.0%), from €21,927 to €2,404
- Current portion of long-term debt +€11,847
up €11,847 (+212%), from €5,578 to €17,425
- Tax, wage and social debts -€6,787
down €6,787 (-36.7%), from €18,482 to €11,695
of which Remuneration and social security: -€6,012
- Staff costs +€17,264
up €17,264 (+28.0%), from €61,560 to €78,825
- Gross operating margin +€10,707
up €10,707 (+11.7%), from €91,188 to €101,895
- Financial charges +€6,021
up €6,021, from -€754 to €5,268
- Write-downs -€2,466
no longer reported in 2025 (was €2,466)
- Taxes -€1,720
down €1,720 (-79.9%), from €2,154 to €433
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 | €233,023 | €218,984 | -€14,040 | -6.0% |
| Fixed assets | 21/28 | €49,545 | €32,802 | -€16,743 | -33.8% |
| Tangible fixed assets | 22/27 | €39,130 | €22,387 | -€16,743 | -42.8% |
| Plant, machinery and equipment | 23 | €2,764 | €684 | -€2,080 | -75.3% |
| Furniture and vehicles | 24 | €28,318 | €20,768 | -€7,550 | -26.7% |
| Other tangible fixed assets | 26 | €8,048 | €936 | -€7,112 | -88.4% |
| Financial fixed assets | 28 | €10,415 | €10,415 | = | 0.0% |
| Current assets | 29/58 | €183,478 | €186,181 | +€2,703 | +1.5% |
| Stocks and contracts in progress | 3 | €79,414 | €85,108 | +€5,694 | +7.2% |
| Stocks | 30/36 | €79,414 | €85,108 | +€5,694 | +7.2% |
| Amounts receivable within one year | 40/41 | €56,016 | €55,455 | -€561 | -1.0% |
| Trade receivables | 40 | €50,669 | €50,108 | -€561 | -1.1% |
| Other amounts receivable | 41 | €5,346 | €5,346 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,049 | €45,619 | -€2,430 | -5.1% |
| Total equity and liabilities | 10/49 | €233,023 | €218,984 | -€14,040 | -6.0% |
| Equity | 10/15 | €61,383 | €61,682 | +€299 | +0.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,883 | €34,182 | +€299 | +0.9% |
| Amounts payable | 17/49 | €171,640 | €157,301 | -€14,339 | -8.4% |
| Amounts payable after more than one year | 17 | €39,912 | €11,201 | -€28,711 | -71.9% |
| Financial debts | 170/4 | €39,912 | €11,201 | -€28,711 | -71.9% |
| Amounts payable within one year | 42/48 | €131,728 | €146,100 | +€14,372 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €5,578 | €17,425 | +€11,847 | +212% |
| Trade debts | 44 | €21,927 | €2,404 | -€19,522 | -89.0% |
| Suppliers | 440/4 | €21,927 | €2,404 | -€19,522 | -89.0% |
| Advances received on contracts in progress | 46 | €1,054 | €2,516 | +€1,462 | +139% |
| Taxes, remuneration and social security | 45 | €18,482 | €11,695 | -€6,787 | -36.7% |
| Taxes | 450/3 | €10,417 | €9,642 | -€775 | -7.4% |
| Remuneration and social security | 454/9 | €8,065 | €2,052 | -€6,012 | -74.6% |
| Other amounts payable | 47/48 | €84,688 | €112,060 | +€27,372 | +32.3% |
| Non-recurring operating income | 76A | €9,783 | - | -€9,783 | |
| Remuneration, social security and pensions | 62 | €61,560 | €78,825 | +€17,264 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,743 | €16,743 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,466 | - | -€2,466 | |
| Other operating charges | 640/8 | €719 | €531 | -€188 | -26.2% |
| Gross operating margin | 9900 | €91,188 | €101,895 | +€10,707 | +11.7% |
| Operating profit (loss) | 9901 | €9,700 | €5,797 | -€3,903 | -40.2% |
| Financial income | 75/76B | €59 | €204 | +€145 | +246% |
| Recurring financial income | 75 | €59 | €204 | +€145 | +246% |
| Financial charges | 65/66B | -€754 | €5,268 | +€6,021 | |
| Recurring financial charges | 65 | -€754 | €5,268 | +€6,021 | |
| Profit (loss) for the period before taxes | 9903 | €10,513 | €733 | -€9,780 | -93.0% |
| Income taxes | 67/77 | €2,154 | €433 | -€1,720 | -79.9% |
| Profit (loss) for the period | 9904 | €8,359 | €299 | -€8,060 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,359 | €299 | -€8,060 | -96.4% |
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 19 October 2026 via checked.be.