MNMV Audit: 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.
MNMV Audit
Largest movements
- Receivables within one year +€53,638
up €53,638 (+55.5%), from €96,693 to €150,331
- Cash -€16,910
down €16,910 (-45.2%), from €37,429 to €20,519
mainly Receivables within one year (-€53,638) and Investment in fixed assets (net) (-€17,373)
- Current investments -€6,524
down €6,524 (-26.1%), from €25,000 to €18,476
- Tangible fixed assets +€4,498
up €4,498 (+3.0%), from €152,284 to €156,782
of which Plant, machinery and equipment: +€13,053
- Debts after one year +€22,830
up €22,830 (+19.4%), from €117,601 to €140,431
- Profit (loss) carried forward +€11,197
up €11,197 (+8.2%), from €136,126 to €147,323
- Current portion of long-term debt +€3,638
up €3,638 (+26.8%), from €13,565 to €17,203
- Tax, wage and social debts -€3,523
down €3,523 (-8.5%), from €41,227 to €37,704
- Gross operating margin -€23,439
down €23,439 (-36.2%), from €64,743 to €41,304
- Taxes -€5,570
down €5,570 (-50.5%), from €11,039 to €5,469
- Depreciation +€1,737
up €1,737 (+15.6%), from €11,137 to €12,874
- Other operating charges +€1,543
up €1,543 (+99.8%), from €1,545 to €3,088
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 | €313,494 | €347,140 | +€33,646 | +10.7% |
| Fixed assets | 21/28 | €152,844 | €157,343 | +€4,499 | +2.9% |
| Tangible fixed assets | 22/27 | €152,284 | €156,782 | +€4,498 | +3.0% |
| Land and buildings | 22 | €144,055 | €136,797 | -€7,258 | -5.0% |
| Plant, machinery and equipment | 23 | €626 | €13,679 | +€13,053 | +2,085% |
| Furniture and vehicles | 24 | €7,603 | €6,307 | -€1,296 | -17.1% |
| Financial fixed assets | 28 | €560 | €560 | +€0 | +0.1% |
| Current assets | 29/58 | €160,650 | €189,797 | +€29,147 | +18.1% |
| Amounts receivable within one year | 40/41 | €96,693 | €150,331 | +€53,638 | +55.5% |
| Other amounts receivable | 41 | €96,693 | €150,331 | +€53,638 | +55.5% |
| Current investments | 50/53 | €25,000 | €18,476 | -€6,524 | -26.1% |
| Cash at bank and in hand | 54/58 | €37,429 | €20,519 | -€16,910 | -45.2% |
| Deferred charges and accrued income | 490/1 | €1,528 | €472 | -€1,056 | -69.1% |
| Total equity and liabilities | 10/49 | €313,494 | €347,140 | +€33,646 | +10.7% |
| Equity | 10/15 | €136,226 | €147,423 | +€11,197 | +8.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Capital | 10 | €100 | €100 | = | 0.0% |
| Issued capital | 100 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,126 | €147,323 | +€11,197 | +8.2% |
| Amounts payable | 17/49 | €177,268 | €199,717 | +€22,449 | +12.7% |
| Amounts payable after more than one year | 17 | €117,601 | €140,431 | +€22,830 | +19.4% |
| Financial debts | 170/4 | €117,601 | €140,431 | +€22,830 | +19.4% |
| Amounts payable within one year | 42/48 | €59,667 | €59,285 | -€382 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €13,565 | €17,203 | +€3,638 | +26.8% |
| Trade debts | 44 | €4,875 | €4,379 | -€496 | -10.2% |
| Suppliers | 440/4 | €4,875 | €4,379 | -€496 | -10.2% |
| Taxes, remuneration and social security | 45 | €41,227 | €37,704 | -€3,523 | -8.5% |
| Taxes | 450/3 | €41,227 | €37,704 | -€3,523 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,137 | €12,874 | +€1,737 | +15.6% |
| Other operating charges | 640/8 | €1,545 | €3,088 | +€1,543 | +99.8% |
| Gross operating margin | 9900 | €64,743 | €41,304 | -€23,439 | -36.2% |
| Operating profit (loss) | 9901 | €52,061 | €25,342 | -€26,719 | -51.3% |
| Financial income | 75/76B | €1,733 | €1,733 | +€0 | 0.0% |
| Recurring financial income | 75 | €1,733 | €1,733 | +€0 | 0.0% |
| Financial charges | 65/66B | €10,305 | €10,410 | +€105 | +1.0% |
| Recurring financial charges | 65 | €10,305 | €10,410 | +€105 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €43,489 | €16,666 | -€26,823 | -61.7% |
| Income taxes | 67/77 | €11,039 | €5,469 | -€5,570 | -50.5% |
| Profit (loss) for the period | 9904 | €32,450 | €11,197 | -€21,253 | -65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,450 | €11,197 | -€21,253 | -65.5% |
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 14 October 2026 via checked.be.