MAVINKO: 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.
MAVINKO
Largest movements
- Receivables within one year -€29,118
down €29,118 (-59.6%), from €48,824 to €19,706
of which Other amounts receivable: -€27,798
- Cash -€4,117
down €4,117 (-19.0%), from €21,636 to €17,519
mainly Contributions, distributions and other (-€70,315) and Tax, wage and social debts (-€2,738)
- Deferred charges and accrued income +€1,858
up €1,858 (+115%), from €1,610 to €3,468
- Profit (loss) carried forward -€51,639
down €51,639 (-100%), from €51,639 to €0
- Other debts +€18,676
new in 2025: €18,676
- Trade debts +€3,715
up €3,715 (+378%), from €982 to €4,697
- Tax, wage and social debts -€2,738
down €2,738 (-14.0%), from €19,598 to €16,860
- Short-term financial debts +€1,677
new in 2025: €1,677
- Gross operating margin +€7,430
up €7,430 (+40.3%), from €18,435 to €25,865
- Taxes +€1,944
up €1,944 (+47.0%), from €4,132 to €6,076
- Other operating charges -€1,070
down €1,070 (-62.3%), from €1,717 to €647
- Financial income -€812
down €812 (-37.0%), from €2,194 to €1,381
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 | €73,952 | €42,910 | -€31,042 | -42.0% |
| Fixed assets | 21/28 | €1,882 | €2,217 | +€335 | +17.8% |
| Tangible fixed assets | 22/27 | €1,882 | €2,217 | +€335 | +17.8% |
| Plant, machinery and equipment | 23 | €552 | €1,420 | +€868 | +157% |
| Furniture and vehicles | 24 | €1,330 | €797 | -€533 | -40.1% |
| Current assets | 29/58 | €72,070 | €40,692 | -€31,378 | -43.5% |
| Amounts receivable within one year | 40/41 | €48,824 | €19,706 | -€29,118 | -59.6% |
| Trade receivables | 40 | €12,566 | €11,246 | -€1,320 | -10.5% |
| Other amounts receivable | 41 | €36,258 | €8,460 | -€27,798 | -76.7% |
| Cash at bank and in hand | 54/58 | €21,636 | €17,519 | -€4,117 | -19.0% |
| Deferred charges and accrued income | 490/1 | €1,610 | €3,468 | +€1,858 | +115% |
| Total equity and liabilities | 10/49 | €73,952 | €42,910 | -€31,042 | -42.0% |
| Equity | 10/15 | €52,639 | €1,000 | -€51,639 | -98.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,639 | €0 | -€51,639 | -100% |
| Amounts payable | 17/49 | €21,313 | €41,910 | +€20,596 | +96.6% |
| Amounts payable within one year | 42/48 | €21,313 | €41,910 | +€20,596 | +96.6% |
| Current portion of amounts payable after more than one year | 42 | €733 | €0 | -€733 | -100% |
| Financial debts | 43 | - | €1,677 | +€1,677 | |
| Credit institutions | 430/8 | - | €1,677 | +€1,677 | |
| Trade debts | 44 | €982 | €4,697 | +€3,715 | +378% |
| Suppliers | 440/4 | €982 | €4,697 | +€3,715 | +378% |
| Taxes, remuneration and social security | 45 | €19,598 | €16,860 | -€2,738 | -14.0% |
| Taxes | 450/3 | €19,598 | €16,860 | -€2,738 | -14.0% |
| Other amounts payable | 47/48 | - | €18,676 | +€18,676 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,273 | €1,359 | +€86 | +6.8% |
| Other operating charges | 640/8 | €1,717 | €647 | -€1,070 | -62.3% |
| Gross operating margin | 9900 | €18,435 | €25,865 | +€7,430 | +40.3% |
| Operating profit (loss) | 9901 | €15,445 | €23,859 | +€8,414 | +54.5% |
| Financial income | 75/76B | €2,194 | €1,381 | -€812 | -37.0% |
| Recurring financial income | 75 | €2,194 | €1,381 | -€812 | -37.0% |
| Financial charges | 65/66B | €290 | €488 | +€199 | +68.7% |
| Recurring financial charges | 65 | €290 | €488 | +€199 | +68.7% |
| Profit (loss) for the period before taxes | 9903 | €17,350 | €24,752 | +€7,402 | +42.7% |
| Income taxes | 67/77 | €4,132 | €6,076 | +€1,944 | +47.0% |
| Profit (loss) for the period | 9904 | €13,218 | €18,676 | +€5,458 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,218 | €18,676 | +€5,458 | +41.3% |
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 19 October 2026 via checked.be.