MAVO: 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.
MAVO
Largest movements
- Cash +€51,434
up €51,434 (+101.5%), from €50,649 to €102,083
mainly Net result for the year (+€69,976) and Receivables within one year (+€6,486)
- Deferred charges and accrued income +€13,911
new in 2025: €13,911
- Receivables within one year -€6,486
down €6,486 (-25.3%), from €25,663 to €19,177
of which Trade receivables: -€4,019
- Reserves +€69,976
up €69,976 (+154.1%), from €45,414 to €115,389
- Tax, wage and social debts -€14,012
down €14,012 (-57.6%), from €24,309 to €10,296
- Other debts +€2,299
new in 2025: €2,299
- Gross operating margin +€32,425
up €32,425 (+54.6%), from €59,404 to €91,829
- Taxes +€7,479
up €7,479 (+60.1%), from €12,442 to €19,922
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 | €76,312 | €135,170 | +€58,858 | +77.1% |
| Current assets | 29/58 | €76,312 | €135,170 | +€58,858 | +77.1% |
| Amounts receivable within one year | 40/41 | €25,663 | €19,177 | -€6,486 | -25.3% |
| Trade receivables | 40 | €23,155 | €19,137 | -€4,019 | -17.4% |
| Other amounts receivable | 41 | €2,507 | €40 | -€2,467 | -98.4% |
| Cash at bank and in hand | 54/58 | €50,649 | €102,083 | +€51,434 | +101.5% |
| Deferred charges and accrued income | 490/1 | - | €13,911 | +€13,911 | |
| Total equity and liabilities | 10/49 | €76,312 | €135,170 | +€58,858 | +77.1% |
| Equity | 10/15 | €47,414 | €117,389 | +€69,976 | +147.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €45,414 | €115,389 | +€69,976 | +154.1% |
| Distributable reserves | 133 | €45,414 | €115,389 | +€69,976 | +154.1% |
| Amounts payable | 17/49 | €28,898 | €17,781 | -€11,117 | -38.5% |
| Amounts payable within one year | 42/48 | €28,898 | €17,281 | -€11,617 | -40.2% |
| Trade debts | 44 | €4,590 | €4,686 | +€96 | +2.1% |
| Suppliers | 440/4 | €4,590 | €4,686 | +€96 | +2.1% |
| Taxes, remuneration and social security | 45 | €24,309 | €10,296 | -€14,012 | -57.6% |
| Taxes | 450/3 | €24,309 | €10,296 | -€14,012 | -57.6% |
| Other amounts payable | 47/48 | - | €2,299 | +€2,299 | |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Other operating charges | 640/8 | €1,402 | €1,834 | +€433 | +30.9% |
| Gross operating margin | 9900 | €59,404 | €91,829 | +€32,425 | +54.6% |
| Operating profit (loss) | 9901 | €58,002 | €89,995 | +€31,993 | +55.2% |
| Financial income | 75/76B | €39 | €59 | +€21 | +54.2% |
| Recurring financial income | 75 | €39 | €59 | +€21 | +54.2% |
| Financial charges | 65/66B | €185 | €157 | -€28 | -15.2% |
| Recurring financial charges | 65 | €185 | €157 | -€28 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €57,856 | €89,897 | +€32,041 | +55.4% |
| Income taxes | 67/77 | €12,442 | €19,922 | +€7,479 | +60.1% |
| Profit (loss) for the period | 9904 | €45,414 | €69,976 | +€24,562 | +54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,414 | €69,976 | +€24,562 | +54.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.