MAVS: 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.
MAVS
Largest movements
- Cash -€2,355
down €2,355 (-91.8%), from €2,566 to €211
mainly Net result for the year (-€20,606) and Debts after one year (-€4,933)
- Tangible fixed assets -€1,210
down €1,210 (-25.2%), from €4,804 to €3,594
- Receivables within one year +€816
up €816 (+3.4%), from €24,350 to €25,167
of which Other amounts receivable: +€6,056
- Profit (loss) carried forward -€20,606
down €20,606 (-2222.7%), from -€927 to -€21,533
- Tax, wage and social debts +€11,971
up €11,971 (+22994.1%), from €52 to €12,023
of which Remuneration and social security: +€10,385
- Advances received +€6,000
new in 2025: €6,000
- Debts after one year -€4,933
down €4,933 (-29.2%), from €16,888 to €11,955
- Trade debts +€4,392
up €4,392 (+64.8%), from €6,778 to €11,170
- Gross operating margin -€14,887
down €14,887 (-642.5%), from -€2,317 to -€17,204
- Depreciation +€784
up €784 (+183.7%), from €427 to €1,210
- Financial charges +€516
up €516 (+54.3%), from €950 to €1,466
- Other operating charges +€289
up €289 (+148.8%), from €194 to €483
- Staff costs -€274
down €274 (-72.8%), from €377 to €102
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 | €32,505 | €29,548 | -€2,958 | -9.1% |
| Fixed assets | 21/28 | €4,804 | €3,594 | -€1,210 | -25.2% |
| Tangible fixed assets | 22/27 | €4,804 | €3,594 | -€1,210 | -25.2% |
| Furniture and vehicles | 24 | €4,804 | €3,594 | -€1,210 | -25.2% |
| Current assets | 29/58 | €27,701 | €25,954 | -€1,747 | -6.3% |
| Amounts receivable within one year | 40/41 | €24,350 | €25,167 | +€816 | +3.4% |
| Trade receivables | 40 | €10,822 | €5,582 | -€5,240 | -48.4% |
| Other amounts receivable | 41 | €13,529 | €19,585 | +€6,056 | +44.8% |
| Cash at bank and in hand | 54/58 | €2,566 | €211 | -€2,355 | -91.8% |
| Deferred charges and accrued income | 490/1 | €785 | €576 | -€209 | -26.6% |
| Total equity and liabilities | 10/49 | €32,505 | €29,548 | -€2,958 | -9.1% |
| Equity | 10/15 | €4,073 | -€16,533 | -€20,606 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€927 | -€21,533 | -€20,606 | -2222.7% |
| Amounts payable | 17/49 | €28,432 | €46,081 | +€17,649 | +62.1% |
| Amounts payable after more than one year | 17 | €16,888 | €11,955 | -€4,933 | -29.2% |
| Financial debts | 170/4 | €16,888 | €11,955 | -€4,933 | -29.2% |
| Amounts payable within one year | 42/48 | €11,544 | €34,126 | +€22,582 | +195.6% |
| Current portion of amounts payable after more than one year | 42 | €4,714 | €4,933 | +€219 | +4.7% |
| Trade debts | 44 | €6,778 | €11,170 | +€4,392 | +64.8% |
| Suppliers | 440/4 | €6,778 | €11,170 | +€4,392 | +64.8% |
| Advances received on contracts in progress | 46 | - | €6,000 | +€6,000 | |
| Taxes, remuneration and social security | 45 | €52 | €12,023 | +€11,971 | +22994.1% |
| Taxes | 450/3 | €52 | €1,638 | +€1,586 | +3046.0% |
| Remuneration and social security | 454/9 | - | €10,385 | +€10,385 | |
| Remuneration, social security and pensions | 62 | €377 | €102 | -€274 | -72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €427 | €1,210 | +€784 | +183.7% |
| Other operating charges | 640/8 | €194 | €483 | +€289 | +148.8% |
| Gross operating margin | 9900 | -€2,317 | -€17,204 | -€14,887 | -642.5% |
| Operating profit (loss) | 9901 | -€3,314 | -€19,000 | -€15,686 | -473.3% |
| Financial charges | 65/66B | €950 | €1,466 | +€516 | +54.3% |
| Recurring financial charges | 65 | €950 | €1,466 | +€516 | +54.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,264 | -€20,466 | -€16,201 | -379.9% |
| Income taxes | 67/77 | - | €140 | +€140 | |
| Profit (loss) for the period | 9904 | -€4,264 | -€20,606 | -€16,342 | -383.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,264 | -€20,606 | -€16,342 | -383.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.