M.V. GROUP: 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. GROUP
Largest movements
- Cash -€4,078
down €4,078 (-63.6%), from €6,414 to €2,336
mainly Debts after one year (-€34,932) and Trade debts (-€4,078)
- Receivables within one year +€3,298
new in 2025: €3,298
of which Trade receivables: +€3,000
- Debts after one year -€34,932
down €34,932 (-22.1%), from €157,866 to €122,934
of which Financial debts: -€29,432
- Reserves +€19,516
new in 2025: €19,516
- Tax, wage and social debts +€7,566
up €7,566 (+60.6%), from €12,482 to €20,048
- Other debts +€5,522
up €5,522 (+154.2%), from €3,582 to €9,103
- Trade debts -€4,078
down €4,078 (-39.2%), from €10,413 to €6,335
- Depreciation -€9,981
down €9,981 (-82.8%), from €12,060 to €2,079
- Gross operating margin -€8,757
down €8,757 (-16.0%), from €54,843 to €46,086
- Financial charges +€6,176
up €6,176 (+121.1%), from €5,102 to €11,278
- Other operating charges -€810
down €810 (-22.5%), from €3,594 to €2,784
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 | €321,979 | €319,120 | -€2,859 | -0.9% |
| Fixed assets | 21/28 | €315,565 | €313,486 | -€2,079 | -0.7% |
| Tangible fixed assets | 22/27 | €315,565 | €313,486 | -€2,079 | -0.7% |
| Land and buildings | 22 | €315,565 | €313,486 | -€2,079 | -0.7% |
| Current assets | 29/58 | €6,414 | €5,633 | -€781 | -12.2% |
| Amounts receivable within one year | 40/41 | - | €3,298 | +€3,298 | |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | - | €298 | +€298 | |
| Cash at bank and in hand | 54/58 | €6,414 | €2,336 | -€4,078 | -63.6% |
| Total equity and liabilities | 10/49 | €321,979 | €319,120 | -€2,859 | -0.9% |
| Equity | 10/15 | €106,752 | €126,267 | +€19,516 | +18.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €19,516 | +€19,516 | |
| Distributable reserves | 133 | - | €19,516 | +€19,516 | |
| Profit (loss) carried forward | 14 | €100,552 | €100,552 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €210,227 | €187,852 | -€22,375 | -10.6% |
| Amounts payable after more than one year | 17 | €157,866 | €122,934 | -€34,932 | -22.1% |
| Financial debts | 170/4 | €107,151 | €77,719 | -€29,432 | -27.5% |
| Other amounts payable | 178/9 | €50,715 | €45,215 | -€5,500 | -10.8% |
| Amounts payable within one year | 42/48 | €52,361 | €64,918 | +€12,557 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €25,884 | €29,432 | +€3,548 | +13.7% |
| Trade debts | 44 | €10,413 | €6,335 | -€4,078 | -39.2% |
| Suppliers | 440/4 | €10,413 | €6,335 | -€4,078 | -39.2% |
| Taxes, remuneration and social security | 45 | €12,482 | €20,048 | +€7,566 | +60.6% |
| Taxes | 450/3 | €12,482 | €20,048 | +€7,566 | +60.6% |
| Other amounts payable | 47/48 | €3,582 | €9,103 | +€5,522 | +154.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,060 | €2,079 | -€9,981 | -82.8% |
| Other operating charges | 640/8 | €3,594 | €2,784 | -€810 | -22.5% |
| Gross operating margin | 9900 | €54,843 | €46,086 | -€8,757 | -16.0% |
| Operating profit (loss) | 9901 | €39,188 | €41,223 | +€2,035 | +5.2% |
| Financial income | 75/76B | €186 | - | -€186 | |
| Recurring financial income | 75 | €186 | - | -€186 | |
| Financial charges | 65/66B | €5,102 | €11,278 | +€6,176 | +121.1% |
| Recurring financial charges | 65 | €5,102 | €11,278 | +€6,176 | +121.1% |
| Profit (loss) for the period before taxes | 9903 | €34,272 | €29,945 | -€4,327 | -12.6% |
| Income taxes | 67/77 | €10,268 | €10,429 | +€162 | +1.6% |
| Profit (loss) for the period | 9904 | €24,005 | €19,516 | -€4,489 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,005 | €19,516 | -€4,489 | -18.7% |
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.