MavSAN Med: 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.
MavSAN Med
Largest movements
- Receivables after one year +€40,000
new in 2025: €40,000
- Receivables within one year -€16,373
down €16,373 (-60.4%), from €27,119 to €10,745
of which Other amounts receivable: -€19,090
- Cash -€11,817
down €11,817 (-31.2%), from €37,855 to €26,039
mainly Receivables after one year (-€40,000) and Contributions, distributions and other (-€20,000)
- Tangible fixed assets -€7,366
down €7,366 (-45.1%), from €16,339 to €8,973
of which Furniture and vehicles: -€6,166
- Other debts +€5,000
up €5,000 (+33.3%), from €15,000 to €20,000
- Debts after one year -€4,353
down €4,353 (-48.7%), from €8,933 to €4,580
- Tax, wage and social debts +€3,021
up €3,021 (+15.0%), from €20,183 to €23,204
- Gross operating margin -€6,373
down €6,373 (-13.9%), from €45,858 to €39,485
- Taxes +€1,177
up €1,177 (+14.5%), from €8,143 to €9,321
- Financial income +€926
up €926 (+102%), from €906 to €1,832
- Depreciation -€795
down €795 (-9.7%), from €8,161 to €7,366
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 | €81,313 | €85,895 | +€4,582 | +5.6% |
| Fixed assets | 21/28 | €16,339 | €8,973 | -€7,366 | -45.1% |
| Tangible fixed assets | 22/27 | €16,339 | €8,973 | -€7,366 | -45.1% |
| Furniture and vehicles | 24 | €12,368 | €6,202 | -€6,166 | -49.9% |
| Leasing and similar rights | 25 | €3,972 | €2,772 | -€1,200 | -30.2% |
| Current assets | 29/58 | €64,974 | €76,922 | +€11,948 | +18.4% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Amounts receivable within one year | 40/41 | €27,119 | €10,745 | -€16,373 | -60.4% |
| Trade receivables | 40 | €3,775 | €6,492 | +€2,717 | +72.0% |
| Other amounts receivable | 41 | €23,343 | €4,253 | -€19,090 | -81.8% |
| Cash at bank and in hand | 54/58 | €37,855 | €26,039 | -€11,817 | -31.2% |
| Deferred charges and accrued income | 490/1 | - | €138 | +€138 | |
| Total equity and liabilities | 10/49 | €81,313 | €85,895 | +€4,582 | +5.6% |
| Equity | 10/15 | €31,624 | €32,157 | +€533 | +1.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,124 | €29,657 | +€533 | +1.8% |
| Amounts payable | 17/49 | €49,689 | €53,738 | +€4,049 | +8.1% |
| Amounts payable after more than one year | 17 | €8,933 | €4,580 | -€4,353 | -48.7% |
| Financial debts | 170/4 | €8,933 | €4,580 | -€4,353 | -48.7% |
| Amounts payable within one year | 42/48 | €40,756 | €49,158 | +€8,402 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €4,136 | €4,353 | +€216 | +5.2% |
| Trade debts | 44 | €1,437 | €1,602 | +€165 | +11.5% |
| Suppliers | 440/4 | €1,437 | €1,602 | +€165 | +11.5% |
| Taxes, remuneration and social security | 45 | €20,183 | €23,204 | +€3,021 | +15.0% |
| Taxes | 450/3 | €20,183 | €23,204 | +€3,021 | +15.0% |
| Other amounts payable | 47/48 | €15,000 | €20,000 | +€5,000 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,161 | €7,366 | -€795 | -9.7% |
| Other operating charges | 640/8 | €710 | €427 | -€282 | -39.8% |
| Non-recurring operating charges | 66A | €63 | €53 | -€10 | -16.0% |
| Gross operating margin | 9900 | €45,858 | €39,485 | -€6,373 | -13.9% |
| Operating profit (loss) | 9901 | €36,924 | €31,638 | -€5,286 | -14.3% |
| Financial income | 75/76B | €906 | €1,832 | +€926 | +102% |
| Recurring financial income | 75 | €906 | €1,832 | +€926 | +102% |
| Financial charges | 65/66B | €3,955 | €3,616 | -€339 | -8.6% |
| Recurring financial charges | 65 | €3,955 | €3,616 | -€339 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €33,875 | €29,854 | -€4,021 | -11.9% |
| Income taxes | 67/77 | €8,143 | €9,321 | +€1,177 | +14.5% |
| Profit (loss) for the period | 9904 | €25,731 | €20,533 | -€5,198 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,731 | €20,533 | -€5,198 | -20.2% |
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 26 October 2026 via checked.be.