MAVI: 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.
MAVI
Largest movements
- Receivables within one year +€11,474
up €11,474 (+156.8%), from €7,317 to €18,791
of which Trade receivables: +€12,240
- Cash -€9,214
down €9,214 (-40.8%), from €22,604 to €13,390
mainly Receivables within one year (-€11,474) and Tax, wage and social debts (-€1,582)
- Tangible fixed assets -€3,431
down €3,431 (-23.0%), from €14,927 to €11,496
of which Land and buildings: -€2,616
- Deferred charges and accrued income +€1,022
up €1,022 (+55.4%), from €1,844 to €2,866
- Stocks and contracts -€840
down €840 (-4.3%), from €19,463 to €18,623
of which Stocks: -€840
- Tax, wage and social debts -€1,582
down €1,582 (-29.2%), from €5,413 to €3,831
- Other debts +€1,315
up €1,315 (+38.5%), from €3,418 to €4,733
- Trade debts -€973
down €973 (-38.2%), from €2,544 to €1,571
- Gross operating margin +€14,496
up €14,496, from -€7,767 to €6,729
- Other operating charges -€2,906
down €2,906 (-69.0%), from €4,214 to €1,308
- Financial charges -€172
down €172 (-48.3%), from €356 to €184
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 | €66,155 | €65,166 | -€989 | -1.5% |
| Fixed assets | 21/28 | €14,927 | €11,496 | -€3,431 | -23.0% |
| Tangible fixed assets | 22/27 | €14,927 | €11,496 | -€3,431 | -23.0% |
| Land and buildings | 22 | €7,847 | €5,231 | -€2,616 | -33.3% |
| Plant, machinery and equipment | 23 | - | €1,347 | +€1,347 | |
| Other tangible fixed assets | 26 | €7,080 | €4,918 | -€2,162 | -30.5% |
| Current assets | 29/58 | €51,228 | €53,670 | +€2,442 | +4.8% |
| Stocks and contracts in progress | 3 | €19,463 | €18,623 | -€840 | -4.3% |
| Stocks | 30/36 | €4,063 | €3,223 | -€840 | -20.7% |
| Contracts in progress | 37 | €15,400 | €15,400 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,317 | €18,791 | +€11,474 | +156.8% |
| Trade receivables | 40 | €3,303 | €15,543 | +€12,240 | +370.6% |
| Other amounts receivable | 41 | €4,014 | €3,248 | -€766 | -19.1% |
| Cash at bank and in hand | 54/58 | €22,604 | €13,390 | -€9,214 | -40.8% |
| Deferred charges and accrued income | 490/1 | €1,844 | €2,866 | +€1,022 | +55.4% |
| Total equity and liabilities | 10/49 | €66,155 | €65,166 | -€989 | -1.5% |
| Equity | 10/15 | -€5,220 | -€4,969 | +€251 | +4.8% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €3,112 | €3,112 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,200 | €2,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,200 | €2,200 | = | 0.0% |
| Distributable reserves | 133 | €912 | €912 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,332 | -€30,081 | +€251 | +0.8% |
| Amounts payable | 17/49 | €71,375 | €70,135 | -€1,240 | -1.7% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Other amounts payable | 178/9 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,375 | €10,135 | -€1,240 | -10.9% |
| Trade debts | 44 | €2,544 | €1,571 | -€973 | -38.2% |
| Suppliers | 440/4 | €2,544 | €1,571 | -€973 | -38.2% |
| Taxes, remuneration and social security | 45 | €5,413 | €3,831 | -€1,582 | -29.2% |
| Taxes | 450/3 | €5,413 | €3,831 | -€1,582 | -29.2% |
| Other amounts payable | 47/48 | €3,418 | €4,733 | +€1,315 | +38.5% |
| Non-recurring operating income | 76A | €2,577 | - | -€2,577 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,778 | €4,778 | = | 0.0% |
| Other operating charges | 640/8 | €4,214 | €1,308 | -€2,906 | -69.0% |
| Gross operating margin | 9900 | -€7,767 | €6,729 | +€14,496 | |
| Operating profit (loss) | 9901 | -€16,759 | €643 | +€17,402 | |
| Financial charges | 65/66B | €356 | €184 | -€172 | -48.3% |
| Recurring financial charges | 65 | €356 | €184 | -€172 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,115 | €459 | +€17,574 | |
| Income taxes | 67/77 | €167 | €208 | +€41 | +24.6% |
| Profit (loss) for the period | 9904 | -€17,282 | €251 | +€17,533 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,282 | €251 | +€17,533 |
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 11 October 2026 via checked.be.