M Ovecka: 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.
M Ovecka
Largest movements
- Cash -€9,104
down €9,104 (-7.6%), from €120,364 to €111,260
mainly Contributions, distributions and other (-€93,351) and Tax, wage and social debts (-€20,572)
- Tax, wage and social debts -€20,572
down €20,572 (-43.7%), from €47,092 to €26,520
of which Taxes: -€17,072
- Other debts +€9,205
up €9,205 (+12.5%), from €73,886 to €83,091
- Trade debts +€3,083
new in 2025: €3,083
- Gross operating margin +€60,391
up €60,391 (+99.0%), from €61,002 to €121,393
- Taxes +€13,043
up €13,043 (+99.4%), from €13,116 to €26,159
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 | €121,078 | €112,794 | -€8,284 | -6.8% |
| Fixed assets | 21/28 | €714 | €1,534 | +€820 | +114.8% |
| Tangible fixed assets | 22/27 | €714 | €1,534 | +€820 | +114.8% |
| Plant, machinery and equipment | 23 | - | €1,254 | +€1,254 | |
| Furniture and vehicles | 24 | €714 | €280 | -€434 | -60.8% |
| Current assets | 29/58 | €120,364 | €111,260 | -€9,104 | -7.6% |
| Cash at bank and in hand | 54/58 | €120,364 | €111,260 | -€9,104 | -7.6% |
| Total equity and liabilities | 10/49 | €121,078 | €112,794 | -€8,284 | -6.8% |
| Equity | 10/15 | €100 | €100 | = | 0.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Amounts payable | 17/49 | €120,978 | €112,694 | -€8,284 | -6.8% |
| Amounts payable within one year | 42/48 | €120,978 | €112,694 | -€8,284 | -6.8% |
| Trade debts | 44 | - | €3,083 | +€3,083 | |
| Suppliers | 440/4 | - | €3,083 | +€3,083 | |
| Taxes, remuneration and social security | 45 | €47,092 | €26,520 | -€20,572 | -43.7% |
| Taxes | 450/3 | €43,592 | €26,520 | -€17,072 | -39.2% |
| Remuneration and social security | 454/9 | €3,500 | - | -€3,500 | |
| Other amounts payable | 47/48 | €73,886 | €83,091 | +€9,205 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,136 | €1,308 | -€828 | -38.8% |
| Other operating charges | 640/8 | €387 | €459 | +€72 | +18.5% |
| Gross operating margin | 9900 | €61,002 | €121,393 | +€60,391 | +99.0% |
| Operating profit (loss) | 9901 | €58,479 | €119,626 | +€61,147 | +104.6% |
| Financial income | 75/76B | €290 | - | -€290 | |
| Recurring financial income | 75 | €290 | - | -€290 | |
| Financial charges | 65/66B | €249 | €116 | -€133 | -53.3% |
| Recurring financial charges | 65 | €249 | €116 | -€133 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €58,520 | €119,510 | +€60,990 | +104.2% |
| Income taxes | 67/77 | €13,116 | €26,159 | +€13,043 | +99.4% |
| Profit (loss) for the period | 9904 | €45,404 | €93,351 | +€47,947 | +105.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,404 | €93,351 | +€47,947 | +105.6% |
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 12 October 2026 via checked.be.