MaVi Project: 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.
MaVi Project
Largest movements
- Tangible fixed assets -€45,107
down €45,107 (-2.7%), from €1.7m to €1.6m
of which Land and buildings: -€43,180
- Debts after one year -€61,538
down €61,538 (-5.6%), from €1.1m to €1.0m
- Profit (loss) carried forward +€19,760
up €19,760 (+28.6%), from -€69,116 to -€49,356
- Gross operating margin +€32,232
up €32,232 (+51.6%), from €62,433 to €94,666
- Other operating charges +€2,431
up €2,431 (+411.8%), from €590 to €3,022
- Depreciation +€1,714
up €1,714 (+3.1%), from €55,809 to €57,523
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 | €1,686,257 | €1,647,862 | -€38,395 | -2.3% |
| Fixed assets | 21/28 | €1,678,438 | €1,633,331 | -€45,107 | -2.7% |
| Tangible fixed assets | 22/27 | €1,678,438 | €1,633,331 | -€45,107 | -2.7% |
| Land and buildings | 22 | €1,669,158 | €1,625,978 | -€43,180 | -2.6% |
| Plant, machinery and equipment | 23 | €1,634 | €1,292 | -€342 | -20.9% |
| Furniture and vehicles | 24 | €7,646 | €6,061 | -€1,586 | -20.7% |
| Current assets | 29/58 | €7,819 | €14,531 | +€6,713 | +85.9% |
| Amounts receivable within one year | 40/41 | - | €181 | +€181 | |
| Trade receivables | 40 | - | €181 | +€181 | |
| Cash at bank and in hand | 54/58 | €6,070 | €12,510 | +€6,440 | +106.1% |
| Deferred charges and accrued income | 490/1 | €1,748 | €1,840 | +€92 | +5.3% |
| Total equity and liabilities | 10/49 | €1,686,257 | €1,647,862 | -€38,395 | -2.3% |
| Equity | 10/15 | €80,884 | €100,644 | +€19,760 | +24.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,116 | -€49,356 | +€19,760 | +28.6% |
| Amounts payable | 17/49 | €1,605,373 | €1,547,218 | -€58,154 | -3.6% |
| Amounts payable after more than one year | 17 | €1,090,225 | €1,028,687 | -€61,538 | -5.6% |
| Financial debts | 170/4 | €1,090,225 | €1,028,687 | -€61,538 | -5.6% |
| Amounts payable within one year | 42/48 | €515,148 | €518,532 | +€3,384 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €60,768 | €61,538 | +€770 | +1.3% |
| Trade debts | 44 | €2,764 | €342 | -€2,423 | -87.6% |
| Suppliers | 440/4 | €2,764 | €342 | -€2,423 | -87.6% |
| Advances received on contracts in progress | 46 | €4,328 | €4,308 | -€19 | -0.4% |
| Taxes, remuneration and social security | 45 | €4,264 | €4,319 | +€55 | +1.3% |
| Taxes | 450/3 | €4,264 | €4,319 | +€55 | +1.3% |
| Other amounts payable | 47/48 | €443,024 | €448,024 | +€5,000 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,809 | €57,523 | +€1,714 | +3.1% |
| Other operating charges | 640/8 | €590 | €3,022 | +€2,431 | +411.8% |
| Gross operating margin | 9900 | €62,433 | €94,666 | +€32,232 | +51.6% |
| Operating profit (loss) | 9901 | €6,034 | €34,121 | +€28,087 | +465.5% |
| Financial income | 75/76B | €212 | - | -€212 | |
| Recurring financial income | 75 | €212 | - | -€212 | |
| Financial charges | 65/66B | €15,231 | €14,361 | -€870 | -5.7% |
| Recurring financial charges | 65 | €15,231 | €14,361 | -€870 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,985 | €19,760 | +€28,745 | |
| Profit (loss) for the period | 9904 | -€8,985 | €19,760 | +€28,745 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,985 | €19,760 | +€28,745 |
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.