GROUP MV: 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.
GROUP MV
Largest movements
- Cash -€245,085
down €245,085 (-97.8%), from €250,714 to €5,629
mainly Other debts (-€139,104) and Investment in fixed assets (net) (-€112,849)
- Receivables within one year +€38,144
up €38,144 (+80.6%), from €47,316 to €85,460
of which Trade receivables: +€38,797
- Other debts -€139,104
down €139,104 (-13.8%), from €1.0m to €870,122
- Profit (loss) carried forward -€89,642
down €89,642 (-23.9%), from -€375,004 to -€464,646
- Staff costs +€39,071
new in 2025: €39,071
- Financial charges -€31,062
down €31,062 (-67.1%), from €46,263 to €15,200
- Gross operating margin +€27,334
up €27,334 (+38.0%), from €72,007 to €99,342
- Depreciation +€21,949
up €21,949 (+23.5%), from €93,563 to €115,512
- Other operating charges -€2,230
down €2,230 (-10.6%), from €21,127 to €18,897
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 | €2,979,514 | €2,770,250 | -€209,264 | -7.0% |
| Fixed assets | 21/28 | €2,679,392 | €2,676,729 | -€2,663 | -0.1% |
| Tangible fixed assets | 22/27 | €2,674,846 | €2,672,183 | -€2,663 | -0.1% |
| Land and buildings | 22 | €2,672,786 | €2,611,537 | -€61,249 | -2.3% |
| Plant, machinery and equipment | 23 | €1,180 | €485 | -€695 | -58.9% |
| Furniture and vehicles | 24 | €880 | €60,161 | +€59,281 | +6735.9% |
| Financial fixed assets | 28 | €4,546 | €4,546 | = | 0.0% |
| Current assets | 29/58 | €300,122 | €93,521 | -€206,601 | -68.8% |
| Amounts receivable within one year | 40/41 | €47,316 | €85,460 | +€38,144 | +80.6% |
| Trade receivables | 40 | €18,600 | €57,397 | +€38,797 | +208.6% |
| Other amounts receivable | 41 | €28,716 | €28,063 | -€653 | -2.3% |
| Cash at bank and in hand | 54/58 | €250,714 | €5,629 | -€245,085 | -97.8% |
| Deferred charges and accrued income | 490/1 | €2,092 | €2,432 | +€341 | +16.3% |
| Total equity and liabilities | 10/49 | €2,979,514 | €2,770,250 | -€209,264 | -7.0% |
| Equity | 10/15 | €1,224,996 | €1,135,354 | -€89,642 | -7.3% |
| Contributions | 10/11 | €1,600,000 | €1,600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€375,004 | -€464,646 | -€89,642 | -23.9% |
| Amounts payable | 17/49 | €1,754,518 | €1,634,897 | -€119,622 | -6.8% |
| Amounts payable after more than one year | 17 | €675,431 | €678,022 | +€2,591 | +0.4% |
| Financial debts | 170/4 | €671,031 | €673,622 | +€2,591 | +0.4% |
| Other amounts payable | 178/9 | €4,400 | €4,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,079,088 | €956,875 | -€122,213 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €58,734 | €44,976 | -€13,758 | -23.4% |
| Trade debts | 44 | €5,606 | €26,768 | +€21,163 | +377.5% |
| Suppliers | 440/4 | €5,606 | €26,768 | +€21,163 | +377.5% |
| Advances received on contracts in progress | 46 | €720 | - | -€720 | |
| Taxes, remuneration and social security | 45 | €4,802 | €15,008 | +€10,206 | +212.6% |
| Taxes | 450/3 | €4,802 | €9,681 | +€4,880 | +101.6% |
| Remuneration and social security | 454/9 | - | €5,327 | +€5,327 | |
| Other amounts payable | 47/48 | €1,009,226 | €870,122 | -€139,104 | -13.8% |
| Remuneration, social security and pensions | 62 | - | €39,071 | +€39,071 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,563 | €115,512 | +€21,949 | +23.5% |
| Other operating charges | 640/8 | €21,127 | €18,897 | -€2,230 | -10.6% |
| Gross operating margin | 9900 | €72,007 | €99,342 | +€27,334 | +38.0% |
| Operating profit (loss) | 9901 | -€42,683 | -€74,138 | -€31,455 | -73.7% |
| Financial income | 75/76B | €2,182 | €1 | -€2,181 | -100.0% |
| Recurring financial income | 75 | €2,182 | €1 | -€2,181 | -100.0% |
| Financial charges | 65/66B | €46,263 | €15,200 | -€31,062 | -67.1% |
| Recurring financial charges | 65 | €46,263 | €15,200 | -€31,062 | -67.1% |
| Profit (loss) for the period before taxes | 9903 | -€86,764 | -€89,338 | -€2,574 | -3.0% |
| Income taxes | 67/77 | - | €304 | +€304 | |
| Profit (loss) for the period | 9904 | -€86,764 | -€89,642 | -€2,878 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,764 | -€89,642 | -€2,878 | -3.3% |
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 7 October 2026 via checked.be.