MAVIDECO: 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.
MAVIDECO
Largest movements
- Cash +€114,569
up €114,569 (+53.0%), from €216,035 to €330,604
mainly Net result for the year (+€73,263) and Receivables within one year (+€67,375)
- Receivables within one year -€67,375
down €67,375 (-27.9%), from €241,159 to €173,784
of which Trade receivables: -€69,680
- Tangible fixed assets -€13,182
down €13,182 (-45.7%), from €28,857 to €15,674
- Reserves +€58,000
up €58,000 (+16.9%), from €344,000 to €402,000
of which Distributable reserves: +€58,000
- Tax, wage and social debts -€9,618
down €9,618 (-63.1%), from €15,232 to €5,614
- Debts after one year -€8,434
down €8,434 (-44.2%), from €19,092 to €10,658
- Other debts -€6,766
down €6,766 (-39.2%), from €17,266 to €10,500
- Financial income -€60,000
down €60,000 (-37.5%), from €160,000 to €100,000
- Gross operating margin -€17,783
down €17,783, from €11,414 to -€6,369
- Taxes -€1,913
down €1,913 (-24.3%), from €7,887 to €5,974
- Other operating charges -€444
down €444 (-35.5%), from €1,251 to €807
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 | €606,839 | €640,605 | +€33,766 | +5.6% |
| Fixed assets | 21/28 | €148,857 | €135,674 | -€13,182 | -8.9% |
| Tangible fixed assets | 22/27 | €28,857 | €15,674 | -€13,182 | -45.7% |
| Furniture and vehicles | 24 | €28,857 | €15,674 | -€13,182 | -45.7% |
| Financial fixed assets | 28 | €120,000 | €120,000 | = | 0.0% |
| Current assets | 29/58 | €457,982 | €504,931 | +€46,948 | +10.3% |
| Amounts receivable within one year | 40/41 | €241,159 | €173,784 | -€67,375 | -27.9% |
| Trade receivables | 40 | €238,981 | €169,301 | -€69,680 | -29.2% |
| Other amounts receivable | 41 | €2,179 | €4,483 | +€2,305 | +105.8% |
| Cash at bank and in hand | 54/58 | €216,035 | €330,604 | +€114,569 | +53.0% |
| Deferred charges and accrued income | 490/1 | €788 | €543 | -€245 | -31.1% |
| Total equity and liabilities | 10/49 | €606,839 | €640,605 | +€33,766 | +5.6% |
| Equity | 10/15 | €546,850 | €605,113 | +€58,263 | +10.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €344,000 | €402,000 | +€58,000 | +16.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €342,000 | €400,000 | +€58,000 | +17.0% |
| Profit (loss) carried forward | 14 | €182,850 | €183,113 | +€263 | +0.1% |
| Amounts payable | 17/49 | €59,989 | €35,492 | -€24,497 | -40.8% |
| Amounts payable after more than one year | 17 | €19,092 | €10,658 | -€8,434 | -44.2% |
| Financial debts | 170/4 | €19,092 | €10,658 | -€8,434 | -44.2% |
| Amounts payable within one year | 42/48 | €40,897 | €24,834 | -€16,063 | -39.3% |
| Current portion of amounts payable after more than one year | 42 | €8,352 | €8,434 | +€81 | +1.0% |
| Trade debts | 44 | €47 | €287 | +€239 | +506.6% |
| Suppliers | 440/4 | €47 | €287 | +€239 | +506.6% |
| Taxes, remuneration and social security | 45 | €15,232 | €5,614 | -€9,618 | -63.1% |
| Taxes | 450/3 | €15,232 | €5,614 | -€9,618 | -63.1% |
| Other amounts payable | 47/48 | €17,266 | €10,500 | -€6,766 | -39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,182 | €13,182 | = | 0.0% |
| Other operating charges | 640/8 | €1,251 | €807 | -€444 | -35.5% |
| Gross operating margin | 9900 | €11,414 | -€6,369 | -€17,783 | |
| Operating profit (loss) | 9901 | -€3,019 | -€20,358 | -€17,340 | -574.4% |
| Financial income | 75/76B | €160,000 | €100,000 | -€60,000 | -37.5% |
| Recurring financial income | 75 | €160,000 | €100,000 | -€60,000 | -37.5% |
| Financial charges | 65/66B | €368 | €405 | +€37 | +9.9% |
| Recurring financial charges | 65 | €368 | €405 | +€37 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €156,613 | €79,237 | -€77,376 | -49.4% |
| Income taxes | 67/77 | €7,887 | €5,974 | -€1,913 | -24.3% |
| Profit (loss) for the period | 9904 | €148,726 | €73,263 | -€75,464 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €148,726 | €73,263 | -€75,464 | -50.7% |
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 7 October 2026 via checked.be.