Mavo: 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.
Mavo
Largest movements
- Cash +€7,410
up €7,410 (+4.6%), from €160,371 to €167,781
mainly Other debts (+€9,083) and Net result for the year (+€2,132)
- Receivables within one year +€3,713
up €3,713 (+4,222%), from €88 to €3,801
of which Other amounts receivable: +€3,801
- Other debts +€9,083
up €9,083 (+11.0%), from €82,877 to €91,960
- Gross operating margin -€16,880
down €16,880 (-68.8%), from €24,529 to €7,649
- Taxes -€3,864
down €3,864 (-71.4%), from €5,410 to €1,546
- Other operating charges -€755
down €755 (-14.4%), from €5,254 to €4,499
- Financial income +€709
up €709 (+156%), from €455 to €1,164
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 | €234,203 | €245,504 | +€11,301 | +4.8% |
| Fixed assets | 21/28 | €14,577 | €14,766 | +€189 | +1.3% |
| Tangible fixed assets | 22/27 | €14,577 | €14,766 | +€189 | +1.3% |
| Land and buildings | 22 | €13,796 | €13,796 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €781 | €969 | +€189 | +24.2% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €219,626 | €230,739 | +€11,113 | +5.1% |
| Stocks and contracts in progress | 3 | €59,157 | €59,157 | = | 0.0% |
| Stocks | 30/36 | €59,157 | €59,157 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €88 | €3,801 | +€3,713 | +4,222% |
| Trade receivables | 40 | €88 | - | -€88 | |
| Other amounts receivable | 41 | - | €3,801 | +€3,801 | |
| Cash at bank and in hand | 54/58 | €160,371 | €167,781 | +€7,410 | +4.6% |
| Deferred charges and accrued income | 490/1 | €10 | - | -€10 | |
| Total equity and liabilities | 10/49 | €234,203 | €245,504 | +€11,301 | +4.8% |
| Equity | 10/15 | €146,052 | €148,185 | +€2,132 | +1.5% |
| Contributions | 10/11 | €20,575 | €20,575 | = | 0.0% |
| Reserves | 13 | €125,477 | €127,610 | +€2,132 | +1.7% |
| Non-distributable reserves | 130/1 | €2,058 | €2,058 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,058 | €2,058 | = | 0.0% |
| Distributable reserves | 133 | €123,420 | €125,552 | +€2,132 | +1.7% |
| Amounts payable | 17/49 | €88,151 | €97,319 | +€9,169 | +10.4% |
| Amounts payable within one year | 42/48 | €88,151 | €97,319 | +€9,169 | +10.4% |
| Trade debts | 44 | - | €86 | +€86 | |
| Suppliers | 440/4 | - | €86 | +€86 | |
| Taxes, remuneration and social security | 45 | €5,273 | €5,273 | = | 0.0% |
| Taxes | 450/3 | €5,273 | €5,273 | = | 0.0% |
| Other amounts payable | 47/48 | €82,877 | €91,960 | +€9,083 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218 | €361 | +€143 | +65.4% |
| Other operating charges | 640/8 | €5,254 | €4,499 | -€755 | -14.4% |
| Gross operating margin | 9900 | €24,529 | €7,649 | -€16,880 | -68.8% |
| Operating profit (loss) | 9901 | €19,056 | €2,789 | -€16,268 | -85.4% |
| Financial income | 75/76B | €455 | €1,164 | +€709 | +156% |
| Recurring financial income | 75 | €455 | €1,164 | +€709 | +156% |
| Financial charges | 65/66B | €253 | €274 | +€21 | +8.3% |
| Recurring financial charges | 65 | €253 | €274 | +€21 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €19,258 | €3,679 | -€15,579 | -80.9% |
| Income taxes | 67/77 | €5,410 | €1,546 | -€3,864 | -71.4% |
| Profit (loss) for the period | 9904 | €13,848 | €2,132 | -€11,716 | -84.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,848 | €2,132 | -€11,716 | -84.6% |
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 13 October 2026 via checked.be.