MAVIAR: 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.
MAVIAR
Largest movements
- Cash +€11,237
up €11,237 (+23.6%), from €47,577 to €58,814
mainly Other debts (+€45,800) and Net result for the year (+€26,319)
- Receivables within one year -€3,638
down €3,638 (-24.1%), from €15,109 to €11,471
of which Other amounts receivable: -€2,764
- Tangible fixed assets -€1,018
down €1,018 (-45.4%), from €2,244 to €1,226
- Reserves -€47,321
no longer reported in 2025 (was €47,321)
- Other debts +€45,800
up €45,800 (+6432.6%), from €712 to €46,512
- Tax, wage and social debts +€7,895
up €7,895 (+70.4%), from €11,214 to €19,109
of which Remuneration and social security: +€4,971
- Depreciation -€826
down €826 (-44.8%), from €1,844 to €1,018
- Gross operating margin -€684
down €684 (-1.9%), from €36,453 to €35,769
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 | €66,423 | €72,894 | +€6,471 | +9.7% |
| Fixed assets | 21/28 | €2,244 | €1,226 | -€1,018 | -45.4% |
| Tangible fixed assets | 22/27 | €2,244 | €1,226 | -€1,018 | -45.4% |
| Furniture and vehicles | 24 | €2,244 | €1,226 | -€1,018 | -45.4% |
| Current assets | 29/58 | €64,179 | €71,668 | +€7,489 | +11.7% |
| Amounts receivable within one year | 40/41 | €15,109 | €11,471 | -€3,638 | -24.1% |
| Trade receivables | 40 | €12,345 | €11,471 | -€874 | -7.1% |
| Other amounts receivable | 41 | €2,764 | - | -€2,764 | |
| Cash at bank and in hand | 54/58 | €47,577 | €58,814 | +€11,237 | +23.6% |
| Deferred charges and accrued income | 490/1 | €1,493 | €1,383 | -€110 | -7.4% |
| Total equity and liabilities | 10/49 | €66,423 | €72,894 | +€6,471 | +9.7% |
| Equity | 10/15 | €52,321 | €5,000 | -€47,321 | -90.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,321 | - | -€47,321 | |
| Distributable reserves | 133 | €47,321 | - | -€47,321 | |
| Amounts payable | 17/49 | €14,102 | €67,894 | +€53,792 | +381.4% |
| Amounts payable within one year | 42/48 | €14,102 | €67,894 | +€53,792 | +381.4% |
| Trade debts | 44 | €2,176 | €2,273 | +€97 | +4.5% |
| Suppliers | 440/4 | €2,176 | €2,273 | +€97 | +4.5% |
| Taxes, remuneration and social security | 45 | €11,214 | €19,109 | +€7,895 | +70.4% |
| Taxes | 450/3 | €11,214 | €14,138 | +€2,924 | +26.1% |
| Remuneration and social security | 454/9 | - | €4,971 | +€4,971 | |
| Other amounts payable | 47/48 | €712 | €46,512 | +€45,800 | +6432.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,844 | €1,018 | -€826 | -44.8% |
| Other operating charges | 640/8 | €677 | €698 | +€21 | +3.1% |
| Gross operating margin | 9900 | €36,453 | €35,769 | -€684 | -1.9% |
| Operating profit (loss) | 9901 | €33,932 | €34,053 | +€121 | +0.4% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €272 | €296 | +€24 | +8.8% |
| Recurring financial charges | 65 | €272 | €296 | +€24 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €33,661 | €33,757 | +€96 | +0.3% |
| Income taxes | 67/77 | €7,239 | €7,438 | +€199 | +2.7% |
| Profit (loss) for the period | 9904 | €26,422 | €26,319 | -€103 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,422 | €26,319 | -€103 | -0.4% |
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 10 October 2026 via checked.be.