MAVHEK: 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.
MAVHEK
Largest movements
- Cash -€28,853
down €28,853 (-21.9%), from €131,976 to €103,123
mainly Tax, wage and social debts (-€24,364) and Net result for the year (-€1,900)
- Tangible fixed assets +€1,604
new in 2025: €1,604
- Tax, wage and social debts -€24,364
no longer reported in 2025 (was €24,364)
- Profit (loss) carried forward -€1,900
new in 2025: -€1,900
- Gross operating margin -€58,513
down €58,513 (-99.9%), from €58,595 to €82
- Staff costs -€22,012
down €22,012 (-93.2%), from €23,628 to €1,616
- Taxes -€10,194
no longer reported in 2025 (was €10,194)
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 | €131,976 | €105,481 | -€26,495 | -20.1% |
| Fixed assets | 21/28 | - | €1,604 | +€1,604 | |
| Tangible fixed assets | 22/27 | - | €1,604 | +€1,604 | |
| Plant, machinery and equipment | 23 | - | €1,604 | +€1,604 | |
| Current assets | 29/58 | €131,976 | €103,877 | -€28,099 | -21.3% |
| Amounts receivable within one year | 40/41 | - | €754 | +€754 | |
| Other amounts receivable | 41 | - | €754 | +€754 | |
| Cash at bank and in hand | 54/58 | €131,976 | €103,123 | -€28,853 | -21.9% |
| Total equity and liabilities | 10/49 | €131,976 | €105,481 | -€26,495 | -20.1% |
| Equity | 10/15 | €107,130 | €105,230 | -€1,900 | -1.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €92,130 | €92,130 | = | 0.0% |
| Distributable reserves | 133 | €92,130 | €92,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,900 | -€1,900 | |
| Amounts payable | 17/49 | €24,846 | €251 | -€24,595 | -99.0% |
| Amounts payable within one year | 42/48 | €24,846 | €251 | -€24,595 | -99.0% |
| Trade debts | 44 | €231 | - | -€231 | |
| Suppliers | 440/4 | €231 | - | -€231 | |
| Taxes, remuneration and social security | 45 | €24,364 | - | -€24,364 | |
| Taxes | 450/3 | €24,364 | - | -€24,364 | |
| Other amounts payable | 47/48 | €251 | €251 | = | 0.0% |
| Non-recurring operating income | 76A | €2,205 | - | -€2,205 | |
| Remuneration, social security and pensions | 62 | €23,628 | €1,616 | -€22,012 | -93.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €258 | +€258 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €58,595 | €82 | -€58,513 | -99.9% |
| Operating profit (loss) | 9901 | €34,904 | -€1,855 | -€36,759 | |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €34,881 | -€1,900 | -€36,781 | |
| Income taxes | 67/77 | €10,194 | - | -€10,194 | |
| Profit (loss) for the period | 9904 | €24,687 | -€1,900 | -€26,586 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,687 | -€1,900 | -€26,586 |
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 8 October 2026 via checked.be.