MAVISE: 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.
MAVISE
Largest movements
- Cash +€11,408
up €11,408 (+317.2%), from €3,596 to €15,004
mainly Other debts (+€19,327) and Tax, wage and social debts (+€8,315)
- Tangible fixed assets +€10,104
up €10,104 (+261.3%), from €3,867 to €13,971
of which Furniture and vehicles: +€10,683
- Receivables within one year -€3,937
down €3,937 (-88.0%), from €4,472 to €535
- Deferred charges and accrued income -€2,996
no longer reported in 2025 (was €2,996)
- Debts after one year -€21,791
down €21,791 (-27.3%), from €79,954 to €58,163
- Other debts +€19,327
up €19,327 (+13329.0%), from €145 to €19,472
- Tax, wage and social debts +€8,315
up €8,315 (+63.0%), from €13,195 to €21,510
of which Taxes: +€6,232
- Profit (loss) carried forward +€7,914
up €7,914 (+14.1%), from €56,062 to €63,976
- Current portion of long-term debt +€4,330
up €4,330 (+16.6%), from €26,034 to €30,364
- Turnover -€170,549
no longer reported in 2025 (was €170,549)
- Staff costs -€3,737
down €3,737 (-3.0%), from €123,521 to €119,784
- Gross operating margin -€1,899
down €1,899 (-1.3%), from €145,033 to €143,134
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 | €196,956 | €211,535 | +€14,579 | +7.4% |
| Fixed assets | 21/28 | €185,892 | €195,996 | +€10,104 | +5.4% |
| Tangible fixed assets | 22/27 | €3,867 | €13,971 | +€10,104 | +261.3% |
| Plant, machinery and equipment | 23 | €1,229 | €925 | -€304 | -24.7% |
| Furniture and vehicles | 24 | - | €10,683 | +€10,683 | |
| Other tangible fixed assets | 26 | €2,638 | €2,363 | -€275 | -10.4% |
| Financial fixed assets | 28 | €182,025 | €182,025 | = | 0.0% |
| Current assets | 29/58 | €11,064 | €15,539 | +€4,475 | +40.4% |
| Amounts receivable within one year | 40/41 | €4,472 | €535 | -€3,937 | -88.0% |
| Trade receivables | 40 | €4,472 | €535 | -€3,937 | -88.0% |
| Cash at bank and in hand | 54/58 | €3,596 | €15,004 | +€11,408 | +317.2% |
| Deferred charges and accrued income | 490/1 | €2,996 | - | -€2,996 | |
| Total equity and liabilities | 10/49 | €196,956 | €211,535 | +€14,579 | +7.4% |
| Equity | 10/15 | €74,112 | €82,026 | +€7,914 | +10.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Capital | 10 | €6,000 | €6,000 | = | 0.0% |
| Issued capital | 100 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €12,050 | €12,050 | = | 0.0% |
| Non-distributable reserves | 130/1 | €600 | €600 | = | 0.0% |
| Legal reserve | 130 | €600 | €600 | = | 0.0% |
| Distributable reserves | 133 | €11,450 | €11,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,062 | €63,976 | +€7,914 | +14.1% |
| Amounts payable | 17/49 | €122,844 | €129,509 | +€6,665 | +5.4% |
| Amounts payable after more than one year | 17 | €79,954 | €58,163 | -€21,791 | -27.3% |
| Financial debts | 170/4 | €79,954 | €58,163 | -€21,791 | -27.3% |
| Amounts payable within one year | 42/48 | €42,890 | €71,346 | +€28,456 | +66.3% |
| Current portion of amounts payable after more than one year | 42 | €26,034 | €30,364 | +€4,330 | +16.6% |
| Trade debts | 44 | €3,516 | - | -€3,516 | |
| Suppliers | 440/4 | €3,516 | - | -€3,516 | |
| Taxes, remuneration and social security | 45 | €13,195 | €21,510 | +€8,315 | +63.0% |
| Taxes | 450/3 | €13,195 | €19,427 | +€6,232 | +47.2% |
| Remuneration and social security | 454/9 | - | €2,083 | +€2,083 | |
| Other amounts payable | 47/48 | €145 | €19,472 | +€19,327 | +13329.0% |
| Turnover | 70 | €170,549 | - | -€170,549 | |
| Goods, raw materials, services and sundry goods | 60/61 | €57,003 | €57,147 | +€144 | +0.3% |
| Remuneration, social security and pensions | 62 | €123,521 | €119,784 | -€3,737 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,883 | €2,935 | +€1,052 | +55.9% |
| Other operating charges | 640/8 | €975 | €761 | -€214 | -21.9% |
| Gross operating margin | 9900 | €145,033 | €143,134 | -€1,899 | -1.3% |
| Operating profit (loss) | 9901 | €18,654 | €19,654 | +€1,000 | +5.4% |
| Financial charges | 65/66B | €6,969 | €5,838 | -€1,131 | -16.2% |
| Recurring financial charges | 65 | €6,969 | €5,838 | -€1,131 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €11,685 | €13,816 | +€2,131 | +18.2% |
| Income taxes | 67/77 | €5,387 | €5,902 | +€515 | +9.6% |
| Profit (loss) for the period | 9904 | €6,298 | €7,914 | +€1,616 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,298 | €7,914 | +€1,616 | +25.7% |
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 2 October 2026 via checked.be.