M.V.V.M.: 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.V.M.
Largest movements
- Cash +€470,460
up €470,460 (+236%), from €199,233 to €669,694
mainly Current investments (+€300,000) and Receivables within one year (+€167,595)
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Receivables within one year -€167,595
down €167,595 (-87.3%), from €192,076 to €24,481
of which Trade receivables: -€159,450
No liability line moved by more than 1% of the balance sheet total.
- Turnover -€155,822
no longer reported in 2025 (was €155,822)
- Purchases and services -€137,588
down €137,588 (-91.9%), from €149,745 to €12,158
- Gross operating margin -€8,664
down €8,664, from €7,811 to -€853
- Financial income -€3,919
down €3,919 (-40.1%), from €9,783 to €5,863
- Taxes -€3,570
down €3,570 (-86.5%), from €4,126 to €556
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 | €699,262 | €700,037 | +€776 | +0.1% |
| Fixed assets | 21/28 | €7,953 | €5,863 | -€2,090 | -26.3% |
| Tangible fixed assets | 22/27 | €7,953 | €5,863 | -€2,090 | -26.3% |
| Plant, machinery and equipment | 23 | €4,392 | €2,721 | -€1,671 | -38.0% |
| Furniture and vehicles | 24 | €3,561 | €3,142 | -€419 | -11.8% |
| Current assets | 29/58 | €691,309 | €694,174 | +€2,865 | +0.4% |
| Amounts receivable within one year | 40/41 | €192,076 | €24,481 | -€167,595 | -87.3% |
| Trade receivables | 40 | €172,919 | €13,469 | -€159,450 | -92.2% |
| Other amounts receivable | 41 | €19,156 | €11,012 | -€8,145 | -42.5% |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €199,233 | €669,694 | +€470,460 | +236% |
| Total equity and liabilities | 10/49 | €699,262 | €700,037 | +€776 | +0.1% |
| Equity | 10/15 | €695,727 | €697,395 | +€1,668 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €675,267 | €676,935 | +€1,668 | +0.2% |
| Amounts payable | 17/49 | €3,535 | €2,642 | -€892 | -25.2% |
| Amounts payable within one year | 42/48 | €3,535 | €2,642 | -€892 | -25.2% |
| Trade debts | 44 | €1,330 | €530 | -€801 | -60.2% |
| Suppliers | 440/4 | €1,330 | €530 | -€801 | -60.2% |
| Taxes, remuneration and social security | 45 | €2,204 | €2,113 | -€92 | -4.2% |
| Taxes | 450/3 | €2,204 | €2,113 | -€92 | -4.2% |
| Turnover | 70 | €155,822 | - | -€155,822 | |
| Goods, raw materials, services and sundry goods | 60/61 | €149,745 | €12,158 | -€137,588 | -91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,365 | €2,090 | -€275 | -11.6% |
| Other operating charges | 640/8 | €387 | €404 | +€16 | +4.2% |
| Gross operating margin | 9900 | €7,811 | -€853 | -€8,664 | |
| Operating profit (loss) | 9901 | €5,058 | -€3,346 | -€8,405 | |
| Financial income | 75/76B | €9,783 | €5,863 | -€3,919 | -40.1% |
| Recurring financial income | 75 | €9,783 | €5,863 | -€3,919 | -40.1% |
| Financial charges | 65/66B | €289 | €293 | +€4 | +1.4% |
| Recurring financial charges | 65 | €289 | €293 | +€4 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €14,552 | €2,224 | -€12,328 | -84.7% |
| Income taxes | 67/77 | €4,126 | €556 | -€3,570 | -86.5% |
| Profit (loss) for the period | 9904 | €10,426 | €1,668 | -€8,758 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,426 | €1,668 | -€8,758 | -84.0% |
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 15 October 2026 via checked.be.