M.V. CONCEPT: 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.
M.V. CONCEPT
Largest movements
- Stocks and contracts +€85,331
up €85,331 (+87.9%), from €97,102 to €182,433
- Receivables within one year -€15,784
down €15,784 (-58.9%), from €26,777 to €10,993
of which Trade receivables: -€18,789
- Cash +€10,722
up €10,722 (+40.1%), from €26,769 to €37,492
mainly Debts after one year (+€50,500) and Trade debts (+€43,023)
- Tangible fixed assets +€8,344
up €8,344 (+46.6%), from €17,892 to €26,237
of which Other tangible fixed assets: +€8,475
- Debts after one year +€50,500
new in 2025: €50,500
- Trade debts +€43,023
up €43,023 (+96.9%), from €44,411 to €87,433
- Other debts +€37,738
up €37,738 (+20.4%), from €184,727 to €222,465
- Profit (loss) carried forward -€33,194
down €33,194 (-40.9%), from -€81,078 to -€114,271
- Advances received -€12,000
no longer reported in 2025 (was €12,000)
- Gross operating margin -€23,705
down €23,705 (-60.6%), from €39,104 to €15,399
- Depreciation +€2,186
up €2,186 (+188.2%), from €1,162 to €3,348
- Staff costs +€1,988
up €1,988 (+5.1%), from €39,214 to €41,202
- Other operating charges +€1,654
up €1,654 (+98.7%), from €1,676 to €3,330
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 | €174,439 | €260,698 | +€86,259 | +49.4% |
| Fixed assets | 21/28 | €18,737 | €27,081 | +€8,344 | +44.5% |
| Tangible fixed assets | 22/27 | €17,892 | €26,237 | +€8,344 | +46.6% |
| Plant, machinery and equipment | 23 | €1,003 | €431 | -€573 | -57.1% |
| Furniture and vehicles | 24 | €341 | €782 | +€442 | +129.7% |
| Other tangible fixed assets | 26 | €16,548 | €25,024 | +€8,475 | +51.2% |
| Financial fixed assets | 28 | €844 | €844 | = | 0.0% |
| Current assets | 29/58 | €155,703 | €233,617 | +€77,914 | +50.0% |
| Stocks and contracts in progress | 3 | €97,102 | €182,433 | +€85,331 | +87.9% |
| Stocks | 30/36 | €97,102 | €182,433 | +€85,331 | +87.9% |
| Amounts receivable within one year | 40/41 | €26,777 | €10,993 | -€15,784 | -58.9% |
| Trade receivables | 40 | €24,153 | €5,365 | -€18,789 | -77.8% |
| Other amounts receivable | 41 | €2,624 | €5,628 | +€3,004 | +114.5% |
| Cash at bank and in hand | 54/58 | €26,769 | €37,492 | +€10,722 | +40.1% |
| Deferred charges and accrued income | 490/1 | €5,055 | €2,700 | -€2,355 | -46.6% |
| Total equity and liabilities | 10/49 | €174,439 | €260,698 | +€86,259 | +49.4% |
| Equity | 10/15 | -€73,017 | -€106,211 | -€33,194 | -45.5% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,078 | -€114,271 | -€33,194 | -40.9% |
| Amounts payable | 17/49 | €247,456 | €366,909 | +€119,452 | +48.3% |
| Amounts payable after more than one year | 17 | - | €50,500 | +€50,500 | |
| Financial debts | 170/4 | - | €50,500 | +€50,500 | |
| Amounts payable within one year | 42/48 | €247,456 | €316,373 | +€68,917 | +27.9% |
| Trade debts | 44 | €44,411 | €87,433 | +€43,023 | +96.9% |
| Suppliers | 440/4 | €44,411 | €87,433 | +€43,023 | +96.9% |
| Advances received on contracts in progress | 46 | €12,000 | - | -€12,000 | |
| Taxes, remuneration and social security | 45 | €6,318 | €6,474 | +€156 | +2.5% |
| Taxes | 450/3 | €1,530 | - | -€1,530 | |
| Remuneration and social security | 454/9 | €4,788 | €6,474 | +€1,686 | +35.2% |
| Other amounts payable | 47/48 | €184,727 | €222,465 | +€37,738 | +20.4% |
| Accrued charges and deferred income | 492/3 | - | €36 | +€36 | |
| Remuneration, social security and pensions | 62 | €39,214 | €41,202 | +€1,988 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,162 | €3,348 | +€2,186 | +188.2% |
| Other operating charges | 640/8 | €1,676 | €3,330 | +€1,654 | +98.7% |
| Gross operating margin | 9900 | €39,104 | €15,399 | -€23,705 | -60.6% |
| Operating profit (loss) | 9901 | -€2,948 | -€32,480 | -€29,532 | -1001.8% |
| Financial income | 75/76B | €1 | €41 | +€40 | +4809.6% |
| Recurring financial income | 75 | €1 | €41 | +€40 | +4809.6% |
| Financial charges | 65/66B | €1,121 | €754 | -€367 | -32.7% |
| Recurring financial charges | 65 | €1,121 | €754 | -€367 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,068 | -€33,194 | -€29,126 | -716.0% |
| Profit (loss) for the period | 9904 | -€4,068 | -€33,194 | -€29,126 | -716.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,068 | -€33,194 | -€29,126 | -716.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.