M.V.E. & C°: 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.E. & C°
Largest movements
- Receivables after one year -€150,000
no longer reported in 2025 (was €150,000)
- Receivables within one year +€89,611
up €89,611 (+22.3%), from €401,140 to €490,751
of which Other amounts receivable: +€85,631
- Cash +€12,033
up €12,033 (+226.7%), from €5,308 to €17,341
mainly Receivables after one year (+€150,000) and Net result for the year (+€105,557)
- Reserves -€90,214
down €90,214 (-22.6%), from €398,349 to €308,135
of which Distributable reserves: -€88,354
- Tax, wage and social debts +€86,908
up €86,908 (+138.1%), from €62,944 to €149,852
of which Taxes: +€86,421
- Trade debts -€44,052
down €44,052 (-84.6%), from €52,087 to €8,035
- Gross operating margin +€25,867
up €25,867 (+12.7%), from €202,901 to €228,768
- Staff costs +€18,114
up €18,114 (+26.6%), from €68,010 to €86,124
- Financial income +€4,003
up €4,003 (+16.6%), from €24,135 to €28,138
- Financial charges +€2,408
up €2,408 (+75.1%), from €3,207 to €5,615
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 | €563,913 | €512,771 | -€51,142 | -9.1% |
| Formation expenses | 20 | €1,046 | €784 | -€262 | -25.0% |
| Fixed assets | 21/28 | €5,354 | €2,720 | -€2,634 | -49.2% |
| Tangible fixed assets | 22/27 | €5,164 | €2,530 | -€2,634 | -51.0% |
| Plant, machinery and equipment | 23 | €5,164 | €2,530 | -€2,634 | -51.0% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €557,513 | €509,267 | -€48,246 | -8.7% |
| Amounts receivable after more than one year | 29 | €150,000 | - | -€150,000 | |
| Other amounts receivable | 291 | €150,000 | - | -€150,000 | |
| Amounts receivable within one year | 40/41 | €401,140 | €490,751 | +€89,611 | +22.3% |
| Trade receivables | 40 | €18,432 | €22,412 | +€3,980 | +21.6% |
| Other amounts receivable | 41 | €382,708 | €468,339 | +€85,631 | +22.4% |
| Cash at bank and in hand | 54/58 | €5,308 | €17,341 | +€12,033 | +226.7% |
| Deferred charges and accrued income | 490/1 | €1,065 | €1,175 | +€110 | +10.3% |
| Total equity and liabilities | 10/49 | €563,913 | €512,771 | -€51,142 | -9.1% |
| Equity | 10/15 | €434,117 | €343,903 | -€90,214 | -20.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €398,349 | €308,135 | -€90,214 | -22.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €396,489 | €308,135 | -€88,354 | -22.3% |
| Profit (loss) carried forward | 14 | €17,168 | €17,168 | = | 0.0% |
| Amounts payable | 17/49 | €129,796 | €168,868 | +€39,072 | +30.1% |
| Amounts payable after more than one year | 17 | €4,163 | €324 | -€3,839 | -92.2% |
| Financial debts | 170/4 | €4,163 | €324 | -€3,839 | -92.2% |
| Amounts payable within one year | 42/48 | €125,633 | €168,544 | +€42,911 | +34.2% |
| Current portion of amounts payable after more than one year | 42 | €10,602 | €10,657 | +€55 | +0.5% |
| Trade debts | 44 | €52,087 | €8,035 | -€44,052 | -84.6% |
| Suppliers | 440/4 | €52,087 | €8,035 | -€44,052 | -84.6% |
| Taxes, remuneration and social security | 45 | €62,944 | €149,852 | +€86,908 | +138.1% |
| Taxes | 450/3 | €57,288 | €143,709 | +€86,421 | +150.9% |
| Remuneration and social security | 454/9 | €5,656 | €6,143 | +€487 | +8.6% |
| Remuneration, social security and pensions | 62 | €68,010 | €86,124 | +€18,114 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,256 | €2,634 | -€1,622 | -38.1% |
| Other operating charges | 640/8 | €3,282 | €1,917 | -€1,365 | -41.6% |
| Gross operating margin | 9900 | €202,901 | €228,768 | +€25,867 | +12.7% |
| Operating profit (loss) | 9901 | €127,353 | €138,093 | +€10,740 | +8.4% |
| Financial income | 75/76B | €24,135 | €28,138 | +€4,003 | +16.6% |
| Recurring financial income | 75 | €24,135 | €28,138 | +€4,003 | +16.6% |
| Financial charges | 65/66B | €3,207 | €5,615 | +€2,408 | +75.1% |
| Recurring financial charges | 65 | €3,207 | €5,615 | +€2,408 | +75.1% |
| Profit (loss) for the period before taxes | 9903 | €148,281 | €160,616 | +€12,335 | +8.3% |
| Income taxes | 67/77 | €53,097 | €55,059 | +€1,962 | +3.7% |
| Profit (loss) for the period | 9904 | €95,184 | €105,557 | +€10,373 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €95,184 | €105,557 | +€10,373 | +10.9% |
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 4 October 2026 via checked.be.