M.V.G.C.: 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.V.G.C.
Largest movements
- Receivables within one year -€11,952
down €11,952 (-88.5%), from €13,512 to €1,559
of which Trade receivables: -€8,106
- Tangible fixed assets +€11,428
up €11,428, from €0 to €11,428
- Cash +€4,995
up €4,995 (+231%), from €2,160 to €7,155
mainly Other debts (+€17,208) and Receivables within one year (+€11,952)
- Financial fixed assets +€553
up €553 (+369%), from €150 to €703
- Profit (loss) carried forward -€17,957
down €17,957, from €400 to -€17,557
- Other debts +€17,208
up €17,208 (+319%), from €5,389 to €22,597
- Tax, wage and social debts +€3,601
up €3,601 (+15,362%), from €23 to €3,624
of which Taxes: +€2,122
- Trade debts +€2,122
up €2,122 (+47.1%), from €4,509 to €6,631
of which Bills of exchange payable: +€1,887
- Staff costs +€20,727
new in 2025: €20,727
- Gross operating margin +€7,790
up €7,790 (+1,104%), from €705 to €8,495
- Depreciation +€2,686
up €2,686 (+149%), from €1,806 to €4,492
- Other operating charges -€429
down €429 (-31.9%), from €1,343 to €914
- Taxes +€121
up €121, from €0 to €121
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 | €15,822 | €20,995 | +€5,173 | +32.7% |
| Fixed assets | 21/28 | €150 | €12,131 | +€11,981 | +7,987% |
| Tangible fixed assets | 22/27 | €0 | €11,428 | +€11,428 | |
| Furniture and vehicles | 24 | €0 | €11,428 | +€11,428 | |
| Financial fixed assets | 28 | €150 | €703 | +€553 | +369% |
| Current assets | 29/58 | €15,672 | €8,864 | -€6,808 | -43.4% |
| Amounts receivable within one year | 40/41 | €13,512 | €1,559 | -€11,952 | -88.5% |
| Trade receivables | 40 | €9,665 | €1,559 | -€8,106 | -83.9% |
| Other amounts receivable | 41 | €3,846 | €0 | -€3,846 | -100% |
| Cash at bank and in hand | 54/58 | €2,160 | €7,155 | +€4,995 | +231% |
| Deferred charges and accrued income | 490/1 | - | €150 | +€150 | |
| Total equity and liabilities | 10/49 | €15,822 | €20,995 | +€5,173 | +32.7% |
| Equity | 10/15 | €5,900 | -€12,057 | -€17,957 | |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €400 | -€17,557 | -€17,957 | |
| Amounts payable | 17/49 | €9,922 | €33,052 | +€23,131 | +233% |
| Amounts payable within one year | 42/48 | €9,922 | €32,852 | +€22,931 | +231% |
| Trade debts | 44 | €4,509 | €6,631 | +€2,122 | +47.1% |
| Suppliers | 440/4 | €4,509 | €4,745 | +€235 | +5.2% |
| Bills of exchange payable | 441 | - | €1,887 | +€1,887 | |
| Taxes, remuneration and social security | 45 | €23 | €3,624 | +€3,601 | +15,362% |
| Taxes | 450/3 | €23 | €2,145 | +€2,122 | +9,052% |
| Remuneration and social security | 454/9 | - | €1,479 | +€1,479 | |
| Other amounts payable | 47/48 | €5,389 | €22,597 | +€17,208 | +319% |
| Accrued charges and deferred income | 492/3 | - | €200 | +€200 | |
| Remuneration, social security and pensions | 62 | - | €20,727 | +€20,727 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,806 | €4,492 | +€2,686 | +149% |
| Other operating charges | 640/8 | €1,343 | €914 | -€429 | -31.9% |
| Gross operating margin | 9900 | €705 | €8,495 | +€7,790 | +1,104% |
| Operating profit (loss) | 9901 | -€2,444 | -€17,639 | -€15,195 | -622% |
| Financial charges | 65/66B | €121 | €197 | +€76 | +62.3% |
| Recurring financial charges | 65 | €121 | €197 | +€76 | +62.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,565 | -€17,836 | -€15,270 | -595% |
| Income taxes | 67/77 | €0 | €121 | +€121 | |
| Profit (loss) for the period | 9904 | -€2,565 | -€17,957 | -€15,392 | -600% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,565 | -€17,957 | -€15,392 | -600% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.