MBVS: what changed
Two fiscal 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.
MBVS
Largest movements
- Tangible fixed assets -€10,230
down €10,230 (-9.1%), from €112,891 to €102,662
of which Furniture and vehicles: -€12,347
- Cash +€6,644
up €6,644 (+406.9%), from €1,633 to €8,276
mainly Other debts (+€84,500) and Depreciation (+€12,573)
- Receivables within one year -€2,707
down €2,707 (-39.4%), from €6,864 to €4,157
- Other debts +€84,500
up €84,500 (+17.2%), from €489,916 to €574,416
- Profit (loss) carried forward -€73,604
down €73,604 (-15.8%), from -€466,235 to -€539,839
- Debts after one year -€15,010
down €15,010 (-42.2%), from €35,555 to €20,545
of which Financial debts: -€13,260
- Current portion of long-term debt -€3,455
down €3,455 (-20.8%), from €16,582 to €13,128
- Tax, wage and social debts +€1,510
up €1,510 (+18.1%), from €8,328 to €9,838
- Gross operating margin +€40,361
up €40,361 (+71.6%), from -€56,348 to -€15,988
- Staff costs +€3,774
up €3,774 (+9.7%), from €38,730 to €42,504
- Other operating charges -€792
no longer reported in 2025 (was €792)
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 | €142,295 | €136,002 | -€6,293 | -4.4% |
| Fixed assets | 21/28 | €112,891 | €102,662 | -€10,230 | -9.1% |
| Tangible fixed assets | 22/27 | €112,891 | €102,662 | -€10,230 | -9.1% |
| Land and buildings | 22 | €83,695 | €83,695 | = | 0.0% |
| Furniture and vehicles | 24 | €29,197 | €16,850 | -€12,347 | -42.3% |
| Other tangible fixed assets | 26 | - | €2,118 | +€2,118 | |
| Current assets | 29/58 | €29,404 | €33,340 | +€3,937 | +13.4% |
| Amounts receivable within one year | 40/41 | €6,864 | €4,157 | -€2,707 | -39.4% |
| Other amounts receivable | 41 | €6,864 | €4,157 | -€2,707 | -39.4% |
| Cash at bank and in hand | 54/58 | €1,633 | €8,276 | +€6,644 | +406.9% |
| Deferred charges and accrued income | 490/1 | €20,907 | €20,907 | = | 0.0% |
| Total equity and liabilities | 10/49 | €142,295 | €136,002 | -€6,293 | -4.4% |
| Equity | 10/15 | -€416,235 | -€489,839 | -€73,604 | -17.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | €50,000 | = | 0.0% |
| Issued capital | 100 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€466,235 | -€539,839 | -€73,604 | -15.8% |
| Amounts payable | 17/49 | €558,530 | €625,841 | +€67,311 | +12.1% |
| Amounts payable after more than one year | 17 | €35,555 | €20,545 | -€15,010 | -42.2% |
| Financial debts | 170/4 | €33,805 | €20,545 | -€13,260 | -39.2% |
| Advances received on contracts in progress | 176 | €1,750 | - | -€1,750 | |
| Amounts payable within one year | 42/48 | €521,086 | €602,921 | +€81,835 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €16,582 | €13,128 | -€3,455 | -20.8% |
| Trade debts | 44 | €6,259 | €5,539 | -€720 | -11.5% |
| Suppliers | 440/4 | €6,259 | €5,539 | -€720 | -11.5% |
| Taxes, remuneration and social security | 45 | €8,328 | €9,838 | +€1,510 | +18.1% |
| Remuneration and social security | 454/9 | €8,328 | €9,838 | +€1,510 | +18.1% |
| Other amounts payable | 47/48 | €489,916 | €574,416 | +€84,500 | +17.2% |
| Accrued charges and deferred income | 492/3 | €1,889 | €2,375 | +€486 | +25.7% |
| Remuneration, social security and pensions | 62 | €38,730 | €42,504 | +€3,774 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,347 | €12,573 | +€226 | +1.8% |
| Other operating charges | 640/8 | €792 | - | -€792 | |
| Gross operating margin | 9900 | -€56,348 | -€15,988 | +€40,361 | +71.6% |
| Operating profit (loss) | 9901 | -€108,218 | -€71,065 | +€37,152 | +34.3% |
| Financial income | 75/76B | €1 | €1 | -€0 | -6.6% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -6.6% |
| Financial charges | 65/66B | €2,103 | €2,539 | +€437 | +20.8% |
| Recurring financial charges | 65 | €2,103 | €2,539 | +€437 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | -€110,320 | -€73,604 | +€36,716 | +33.3% |
| Profit (loss) for the period | 9904 | -€110,320 | -€73,604 | +€36,716 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€110,320 | -€73,604 | +€36,716 | +33.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.