MAVICE: 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.
MAVICE
Largest movements
- Cash +€142,408
up €142,408 (+85.4%), from €166,776 to €309,184
mainly Net result for the year (+€75,641) and Current investments (+€67,941)
- Current investments -€67,941
down €67,941 (-78.1%), from €87,000 to €19,059
- Tangible fixed assets -€7,304
down €7,304 (-36.4%), from €20,081 to €12,777
- Reserves +€225,000
new in 2025: €225,000
- Profit (loss) carried forward -€205,359
down €205,359 (-91.9%), from €223,492 to €18,133
- Other debts +€41,014
up €41,014 (+164%), from €24,942 to €65,956
- Trade debts +€15,246
up €15,246 (+16,671%), from €91 to €15,337
- Tax, wage and social debts -€7,667
down €7,667 (-32.5%), from €23,568 to €15,900
of which Taxes: -€7,667
- Gross operating margin -€10,078
down €10,078 (-8.3%), from €120,909 to €110,831
- Other operating charges +€2,250
up €2,250 (+286%), from €786 to €3,036
- Financial income +€1,463
up €1,463 (+689%), from €212 to €1,676
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 | €276,305 | €343,859 | +€67,554 | +24.4% |
| Fixed assets | 21/28 | €20,081 | €12,777 | -€7,304 | -36.4% |
| Tangible fixed assets | 22/27 | €20,081 | €12,777 | -€7,304 | -36.4% |
| Furniture and vehicles | 24 | €20,081 | €12,777 | -€7,304 | -36.4% |
| Current assets | 29/58 | €256,224 | €331,082 | +€74,858 | +29.2% |
| Amounts receivable within one year | 40/41 | €0 | €1,109 | +€1,109 | |
| Other amounts receivable | 41 | €0 | €1,109 | +€1,109 | |
| Current investments | 50/53 | €87,000 | €19,059 | -€67,941 | -78.1% |
| Cash at bank and in hand | 54/58 | €166,776 | €309,184 | +€142,408 | +85.4% |
| Deferred charges and accrued income | 490/1 | €2,448 | €1,730 | -€717 | -29.3% |
| Total equity and liabilities | 10/49 | €276,305 | €343,859 | +€67,554 | +24.4% |
| Equity | 10/15 | €225,492 | €245,133 | +€19,641 | +8.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €225,000 | +€225,000 | |
| Distributable reserves | 133 | - | €225,000 | +€225,000 | |
| Profit (loss) carried forward | 14 | €223,492 | €18,133 | -€205,359 | -91.9% |
| Amounts payable | 17/49 | €50,813 | €98,726 | +€47,914 | +94.3% |
| Amounts payable within one year | 42/48 | €48,601 | €97,194 | +€48,593 | +100.0% |
| Trade debts | 44 | €91 | €15,337 | +€15,246 | +16,671% |
| Suppliers | 440/4 | €91 | €15,337 | +€15,246 | +16,671% |
| Taxes, remuneration and social security | 45 | €23,568 | €15,900 | -€7,667 | -32.5% |
| Taxes | 450/3 | €23,568 | €15,900 | -€7,667 | -32.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €24,942 | €65,956 | +€41,014 | +164% |
| Accrued charges and deferred income | 492/3 | €2,212 | €1,533 | -€679 | -30.7% |
| Non-recurring operating income | 76A | - | €5,815 | +€5,815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,153 | €7,304 | +€150 | +2.1% |
| Other operating charges | 640/8 | €786 | €3,036 | +€2,250 | +286% |
| Gross operating margin | 9900 | €120,909 | €110,831 | -€10,078 | -8.3% |
| Operating profit (loss) | 9901 | €112,969 | €100,491 | -€12,478 | -11.0% |
| Financial income | 75/76B | €212 | €1,676 | +€1,463 | +689% |
| Recurring financial income | 75 | €212 | €1,676 | +€1,463 | +689% |
| Financial charges | 65/66B | €2,368 | €1,821 | -€547 | -23.1% |
| Recurring financial charges | 65 | €2,368 | €1,821 | -€547 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €110,813 | €100,346 | -€10,468 | -9.4% |
| Income taxes | 67/77 | €23,897 | €24,705 | +€808 | +3.4% |
| Profit (loss) for the period | 9904 | €86,916 | €75,641 | -€11,276 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,916 | €75,641 | -€11,276 | -13.0% |
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 26 October 2026 via checked.be.