M-VS: 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-VS
Largest movements
- Cash +€28,107
up €28,107 (+237%), from €11,843 to €39,950
mainly Net result for the year (+€27,950) and Other debts (+€10,000)
- Receivables within one year +€4,910
up €4,910 (+22.3%), from €22,046 to €26,956
of which Other amounts receivable: +€3,776
- Profit (loss) carried forward +€16,185
up €16,185 (+73.6%), from €22,000 to €38,185
- Other debts +€10,000
new in 2025: €10,000
- Tax, wage and social debts +€5,816
up €5,816 (+107%), from €5,436 to €11,252
of which Remuneration and social security: +€2,940
- Trade debts +€677
up €677 (+175%), from €387 to €1,065
- Gross operating margin +€20,978
up €20,978 (+130%), from €16,163 to €37,141
- Taxes +€3,856
up €3,856 (+84.5%), from €4,563 to €8,419
- Other operating charges +€1,048
up €1,048 (+121%), from €865 to €1,913
- Financial charges -€443
down €443 (-72.8%), from €609 to €166
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 | €34,228 | €66,906 | +€32,679 | +95.5% |
| Current assets | 29/58 | €34,228 | €66,906 | +€32,679 | +95.5% |
| Amounts receivable within one year | 40/41 | €22,046 | €26,956 | +€4,910 | +22.3% |
| Trade receivables | 40 | - | €1,134 | +€1,134 | |
| Other amounts receivable | 41 | €22,046 | €25,822 | +€3,776 | +17.1% |
| Cash at bank and in hand | 54/58 | €11,843 | €39,950 | +€28,107 | +237% |
| Deferred charges and accrued income | 490/1 | €339 | - | -€339 | |
| Total equity and liabilities | 10/49 | €34,228 | €66,906 | +€32,679 | +95.5% |
| Equity | 10/15 | €28,405 | €44,590 | +€16,185 | +57.0% |
| Reserves | 13 | €6,405 | €6,405 | = | 0.0% |
| Distributable reserves | 133 | €6,405 | €6,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,000 | €38,185 | +€16,185 | +73.6% |
| Amounts payable | 17/49 | €5,823 | €22,316 | +€16,493 | +283% |
| Amounts payable within one year | 42/48 | €5,823 | €22,316 | +€16,493 | +283% |
| Trade debts | 44 | €387 | €1,065 | +€677 | +175% |
| Suppliers | 440/4 | €387 | €1,065 | +€677 | +175% |
| Taxes, remuneration and social security | 45 | €5,436 | €11,252 | +€5,816 | +107% |
| Taxes | 450/3 | €5,436 | €8,312 | +€2,876 | +52.9% |
| Remuneration and social security | 454/9 | - | €2,940 | +€2,940 | |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €865 | €1,913 | +€1,048 | +121% |
| Gross operating margin | 9900 | €16,163 | €37,141 | +€20,978 | +130% |
| Operating profit (loss) | 9901 | €15,298 | €35,228 | +€19,931 | +130% |
| Financial income | 75/76B | €1,197 | €1,307 | +€110 | +9.2% |
| Recurring financial income | 75 | €1,197 | €1,307 | +€110 | +9.2% |
| Financial charges | 65/66B | €609 | €166 | -€443 | -72.8% |
| Recurring financial charges | 65 | €609 | €166 | -€443 | -72.8% |
| Profit (loss) for the period before taxes | 9903 | €15,886 | €36,369 | +€20,483 | +129% |
| Income taxes | 67/77 | €4,563 | €8,419 | +€3,856 | +84.5% |
| Profit (loss) for the period | 9904 | €11,322 | €27,950 | +€16,627 | +147% |
| Profit (loss) for the period to be appropriated | 9905 | €11,322 | €27,950 | +€16,627 | +147% |
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 25 October 2026 via checked.be.