MBVC: 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.
MBVC
Largest movements
- Receivables within one year +€272,946
up €272,946 (+394%), from €69,311 to €342,257
of which Other amounts receivable: +€239,697
- Cash -€59,186
down €59,186 (-14.2%), from €416,684 to €357,498
mainly Contributions, distributions and other (-€350,000) and Receivables within one year (-€272,946)
- Tangible fixed assets -€32,893
down €32,893 (-8.5%), from €385,538 to €352,646
of which Plant, machinery and equipment: -€17,312
- Other debts +€330,059
up €330,059 (+1,355%), from €24,366 to €354,425
- Reserves -€124,680
down €124,680 (-44.0%), from €283,250 to €158,570
of which Distributable reserves: -€117,180
- Trade debts +€42,435
up €42,435 (+9.1%), from €468,296 to €510,730
- Tax, wage and social debts -€34,225
down €34,225 (-34.1%), from €100,404 to €66,179
of which Taxes: -€41,195
- Debts after one year -€30,421
down €30,421 (-11.6%), from €261,843 to €231,422
- Staff costs +€42,680
up €42,680 (+13.4%), from €318,910 to €361,590
- Gross operating margin +€16,289
up €16,289 (+2.2%), from €745,088 to €761,377
- Other operating charges -€13,380
down €13,380 (-77.9%), from €17,183 to €3,804
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 | €1,242,768 | €1,429,387 | +€186,619 | +15.0% |
| Fixed assets | 21/28 | €385,538 | €352,646 | -€32,893 | -8.5% |
| Tangible fixed assets | 22/27 | €385,538 | €352,646 | -€32,893 | -8.5% |
| Plant, machinery and equipment | 23 | €293,299 | €275,987 | -€17,312 | -5.9% |
| Furniture and vehicles | 24 | €5,118 | €626 | -€4,492 | -87.8% |
| Other tangible fixed assets | 26 | €87,122 | €76,033 | -€11,089 | -12.7% |
| Current assets | 29/58 | €857,230 | €1,076,741 | +€219,511 | +25.6% |
| Amounts receivable after more than one year | 29 | €165,000 | €165,000 | = | 0.0% |
| Trade receivables | 290 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €179,356 | €179,356 | = | 0.0% |
| Stocks | 30/36 | €179,356 | €179,356 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,311 | €342,257 | +€272,946 | +394% |
| Trade receivables | 40 | €11,688 | €44,937 | +€33,249 | +284% |
| Other amounts receivable | 41 | €57,623 | €297,320 | +€239,697 | +416% |
| Cash at bank and in hand | 54/58 | €416,684 | €357,498 | -€59,186 | -14.2% |
| Deferred charges and accrued income | 490/1 | €26,879 | €32,631 | +€5,751 | +21.4% |
| Total equity and liabilities | 10/49 | €1,242,768 | €1,429,387 | +€186,619 | +15.0% |
| Equity | 10/15 | €358,250 | €233,570 | -€124,680 | -34.8% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €283,250 | €158,570 | -€124,680 | -44.0% |
| Non-distributable reserves | 130/1 | €7,500 | - | -€7,500 | |
| Reserves not available under the articles | 1311 | €7,500 | - | -€7,500 | |
| Tax-exempt reserves | 132 | €1,276 | €1,276 | = | 0.0% |
| Distributable reserves | 133 | €274,474 | €157,294 | -€117,180 | -42.7% |
| Amounts payable | 17/49 | €884,518 | €1,195,817 | +€311,298 | +35.2% |
| Amounts payable after more than one year | 17 | €261,843 | €231,422 | -€30,421 | -11.6% |
| Financial debts | 170/4 | €261,843 | €231,422 | -€30,421 | -11.6% |
| Amounts payable within one year | 42/48 | €622,675 | €961,755 | +€339,080 | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €29,609 | €30,421 | +€812 | +2.7% |
| Trade debts | 44 | €468,296 | €510,730 | +€42,435 | +9.1% |
| Suppliers | 440/4 | €468,296 | €510,730 | +€42,435 | +9.1% |
| Taxes, remuneration and social security | 45 | €100,404 | €66,179 | -€34,225 | -34.1% |
| Taxes | 450/3 | €43,458 | €2,263 | -€41,195 | -94.8% |
| Remuneration and social security | 454/9 | €56,946 | €63,916 | +€6,970 | +12.2% |
| Other amounts payable | 47/48 | €24,366 | €354,425 | +€330,059 | +1,355% |
| Accrued charges and deferred income | 492/3 | - | €2,640 | +€2,640 | |
| Remuneration, social security and pensions | 62 | €318,910 | €361,590 | +€42,680 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,251 | €49,724 | +€473 | +1.0% |
| Other operating charges | 640/8 | €17,183 | €3,804 | -€13,380 | -77.9% |
| Non-recurring operating charges | 66A | - | €4,476 | +€4,476 | |
| Gross operating margin | 9900 | €745,088 | €761,377 | +€16,289 | +2.2% |
| Operating profit (loss) | 9901 | €359,745 | €341,783 | -€17,962 | -5.0% |
| Financial income | 75/76B | €15,568 | €12,809 | -€2,759 | -17.7% |
| Recurring financial income | 75 | €15,568 | €12,809 | -€2,759 | -17.7% |
| Financial charges | 65/66B | €43,257 | €45,673 | +€2,416 | +5.6% |
| Recurring financial charges | 65 | €43,257 | €45,673 | +€2,416 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €332,056 | €308,919 | -€23,137 | -7.0% |
| Income taxes | 67/77 | €83,018 | €83,599 | +€581 | +0.7% |
| Profit (loss) for the period | 9904 | €249,038 | €225,320 | -€23,718 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €249,038 | €225,320 | -€23,718 | -9.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.