MAVY: 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.
MAVY
Largest movements
- Cash +€236,221
up €236,221 (+77.2%), from €306,090 to €542,311
mainly Net result for the year (+€333,239) and Trade debts (+€38,785)
- Receivables within one year +€74,651
up €74,651 (+19.9%), from €374,862 to €449,514
of which Trade receivables: +€71,380
- Tangible fixed assets +€34,919
up €34,919 (+341%), from €10,247 to €45,166
of which Furniture and vehicles: +€36,532
- Stocks and contracts +€22,637
up €22,637 (+173%), from €13,100 to €35,738
- Reserves +€333,239
up €333,239 (+116%), from €288,243 to €621,482
- Other debts -€51,720
down €51,720 (-25.2%), from €205,461 to €153,740
- Trade debts +€38,785
up €38,785 (+31.1%), from €124,716 to €163,501
- Debts after one year +€28,160
new in 2025: €28,160
- Tax, wage and social debts +€13,005
up €13,005 (+33.6%), from €38,698 to €51,703
of which Taxes: +€29,718
- Gross operating margin +€170,702
up €170,702 (+14.5%), from €1.2m to €1.4m
- Taxes +€62,835
up €62,835 (+64.4%), from €97,569 to €160,404
- Financial charges -€13,628
down €13,628 (-66.8%), from €20,400 to €6,772
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 | €706,902 | €1,075,490 | +€368,589 | +52.1% |
| Fixed assets | 21/28 | €10,247 | €45,166 | +€34,919 | +341% |
| Tangible fixed assets | 22/27 | €10,247 | €45,166 | +€34,919 | +341% |
| Land and buildings | 22 | €248 | €0 | -€248 | -100% |
| Plant, machinery and equipment | 23 | €2,697 | €1,332 | -€1,365 | -50.6% |
| Furniture and vehicles | 24 | €7,302 | €43,834 | +€36,532 | +500% |
| Current assets | 29/58 | €696,655 | €1,030,324 | +€333,670 | +47.9% |
| Stocks and contracts in progress | 3 | €13,100 | €35,738 | +€22,637 | +173% |
| Stocks | 30/36 | €13,100 | €35,738 | +€22,637 | +173% |
| Amounts receivable within one year | 40/41 | €374,862 | €449,514 | +€74,651 | +19.9% |
| Trade receivables | 40 | €346,093 | €417,473 | +€71,380 | +20.6% |
| Other amounts receivable | 41 | €28,770 | €32,041 | +€3,271 | +11.4% |
| Cash at bank and in hand | 54/58 | €306,090 | €542,311 | +€236,221 | +77.2% |
| Deferred charges and accrued income | 490/1 | €2,602 | €2,762 | +€160 | +6.1% |
| Total equity and liabilities | 10/49 | €706,902 | €1,075,490 | +€368,589 | +52.1% |
| Equity | 10/15 | €294,441 | €627,679 | +€333,239 | +113% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €288,243 | €621,482 | +€333,239 | +116% |
| Distributable reserves | 133 | €288,243 | €621,482 | +€333,239 | +116% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €412,461 | €447,811 | +€35,350 | +8.6% |
| Amounts payable after more than one year | 17 | - | €28,160 | +€28,160 | |
| Financial debts | 170/4 | - | €28,160 | +€28,160 | |
| Amounts payable within one year | 42/48 | €412,461 | €419,651 | +€7,190 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | - | €6,740 | +€6,740 | |
| Financial debts | 43 | €43,586 | €43,967 | +€381 | +0.9% |
| Credit institutions | 430/8 | €43,586 | €43,967 | +€381 | +0.9% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €124,716 | €163,501 | +€38,785 | +31.1% |
| Suppliers | 440/4 | €124,716 | €163,501 | +€38,785 | +31.1% |
| Taxes, remuneration and social security | 45 | €38,698 | €51,703 | +€13,005 | +33.6% |
| Taxes | 450/3 | €9,028 | €38,746 | +€29,718 | +329% |
| Remuneration and social security | 454/9 | €29,670 | €12,957 | -€16,713 | -56.3% |
| Other amounts payable | 47/48 | €205,461 | €153,740 | -€51,720 | -25.2% |
| Remuneration, social security and pensions | 62 | €851,673 | €839,786 | -€11,887 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,828 | €9,833 | +€6,005 | +157% |
| Other operating charges | 640/8 | €2,823 | €2,363 | -€460 | -16.3% |
| Gross operating margin | 9900 | €1,180,495 | €1,351,196 | +€170,702 | +14.5% |
| Operating profit (loss) | 9901 | €322,170 | €499,215 | +€177,044 | +55.0% |
| Financial income | 75/76B | €1,204 | €1,200 | -€5 | -0.4% |
| Recurring financial income | 75 | €1,204 | €1,200 | -€5 | -0.4% |
| Financial charges | 65/66B | €20,400 | €6,772 | -€13,628 | -66.8% |
| Recurring financial charges | 65 | €20,400 | €6,772 | -€13,628 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €302,975 | €493,642 | +€190,668 | +62.9% |
| Income taxes | 67/77 | €97,569 | €160,404 | +€62,835 | +64.4% |
| Profit (loss) for the period | 9904 | €205,406 | €333,239 | +€127,832 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €205,406 | €333,239 | +€127,832 | +62.2% |
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 16 October 2026 via checked.be.