MAVICON: 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.
MAVICON
Largest movements
- Cash +€19,694
up €19,694 (+61.3%), from €32,125 to €51,819
mainly Depreciation (+€17,987) and Net result for the year (+€13,855)
- Tangible fixed assets -€16,583
down €16,583 (-45.4%), from €36,550 to €19,967
of which Furniture and vehicles: -€16,244
- Receivables within one year -€4,027
down €4,027 (-20.2%), from €19,928 to €15,901
of which Trade receivables: -€2,032
- Profit (loss) carried forward +€13,855
up €13,855 (+23.8%), from -€58,101 to -€44,245
- Reserves -€6,000
down €6,000 (-5.7%), from €105,781 to €99,781
- Current portion of long-term debt -€5,698
down €5,698 (-74.8%), from €7,617 to €1,919
- Debts after one year -€1,919
no longer reported in 2025 (was €1,919)
- Tax, wage and social debts +€1,359
up €1,359 (+21.8%), from €6,232 to €7,591
of which Remuneration and social security: +€1,608
- Gross operating margin +€72,477
up €72,477, from -€39,427 to €33,050
- Depreciation +€483
up €483 (+2.8%), from €17,504 to €17,987
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 | €91,554 | €91,265 | -€289 | -0.3% |
| Fixed assets | 21/28 | €36,550 | €19,967 | -€16,583 | -45.4% |
| Tangible fixed assets | 22/27 | €36,550 | €19,967 | -€16,583 | -45.4% |
| Plant, machinery and equipment | 23 | €1,656 | €1,317 | -€339 | -20.4% |
| Furniture and vehicles | 24 | €34,894 | €18,650 | -€16,244 | -46.6% |
| Current assets | 29/58 | €55,005 | €71,298 | +€16,294 | +29.6% |
| Amounts receivable within one year | 40/41 | €19,928 | €15,901 | -€4,027 | -20.2% |
| Trade receivables | 40 | €12,102 | €10,070 | -€2,032 | -16.8% |
| Other amounts receivable | 41 | €7,826 | €5,831 | -€1,995 | -25.5% |
| Cash at bank and in hand | 54/58 | €32,125 | €51,819 | +€19,694 | +61.3% |
| Deferred charges and accrued income | 490/1 | €2,952 | €3,578 | +€627 | +21.2% |
| Total equity and liabilities | 10/49 | €91,554 | €91,265 | -€289 | -0.3% |
| Equity | 10/15 | €67,680 | €75,536 | +€7,855 | +11.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €105,781 | €99,781 | -€6,000 | -5.7% |
| Distributable reserves | 133 | €105,781 | €99,781 | -€6,000 | -5.7% |
| Profit (loss) carried forward | 14 | -€58,101 | -€44,245 | +€13,855 | +23.8% |
| Amounts payable | 17/49 | €23,874 | €15,729 | -€8,145 | -34.1% |
| Amounts payable after more than one year | 17 | €1,919 | - | -€1,919 | |
| Financial debts | 170/4 | €1,919 | - | -€1,919 | |
| Amounts payable within one year | 42/48 | €21,750 | €15,729 | -€6,021 | -27.7% |
| Current portion of amounts payable after more than one year | 42 | €7,617 | €1,919 | -€5,698 | -74.8% |
| Financial debts | 43 | - | €476 | +€476 | |
| Credit institutions | 430/8 | - | €476 | +€476 | |
| Trade debts | 44 | €3,039 | €1,856 | -€1,182 | -38.9% |
| Suppliers | 440/4 | €3,039 | €1,856 | -€1,182 | -38.9% |
| Taxes, remuneration and social security | 45 | €6,232 | €7,591 | +€1,359 | +21.8% |
| Taxes | 450/3 | €6,232 | €5,983 | -€249 | -4.0% |
| Remuneration and social security | 454/9 | - | €1,608 | +€1,608 | |
| Other amounts payable | 47/48 | €4,862 | €3,886 | -€976 | -20.1% |
| Accrued charges and deferred income | 492/3 | €205 | - | -€205 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,504 | €17,987 | +€483 | +2.8% |
| Other operating charges | 640/8 | €604 | €610 | +€5 | +0.8% |
| Gross operating margin | 9900 | -€39,427 | €33,050 | +€72,477 | |
| Operating profit (loss) | 9901 | -€57,535 | €14,454 | +€71,989 | |
| Financial income | 75/76B | €164 | €79 | -€85 | -52.0% |
| Recurring financial income | 75 | €164 | €79 | -€85 | -52.0% |
| Financial charges | 65/66B | €549 | €508 | -€40 | -7.4% |
| Recurring financial charges | 65 | €549 | €508 | -€40 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€57,919 | €14,025 | +€71,944 | |
| Income taxes | 67/77 | €181 | €169 | -€12 | -6.8% |
| Profit (loss) for the period | 9904 | -€58,101 | €13,855 | +€71,956 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,101 | €13,855 | +€71,956 |
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.