MNV: 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.
MNV
Largest movements
- Cash -€7,718
down €7,718 (-7.3%), from €105,250 to €97,532
mainly Contributions, distributions and other (-€190,000) and Smaller working-capital items (-€524)
- Receivables within one year -€3,794
down €3,794 (-5.7%), from €66,547 to €62,754
of which Other amounts receivable: -€9,844
- Reserves -€129,884
down €129,884 (-88.8%), from €146,241 to €16,356
- Other debts +€102,000
new in 2025: €102,000
- Tax, wage and social debts +€16,896
up €16,896 (+61.2%), from €27,587 to €44,484
- Gross operating margin -€32,200
down €32,200 (-29.9%), from €107,537 to €75,337
- Taxes -€7,223
down €7,223 (-30.0%), from €24,086 to €16,864
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 | €176,139 | €165,055 | -€11,085 | -6.3% |
| Current assets | 29/58 | €176,139 | €165,055 | -€11,085 | -6.3% |
| Amounts receivable within one year | 40/41 | €66,547 | €62,754 | -€3,794 | -5.7% |
| Trade receivables | 40 | €6,050 | €12,100 | +€6,050 | +100.0% |
| Other amounts receivable | 41 | €60,497 | €50,654 | -€9,844 | -16.3% |
| Cash at bank and in hand | 54/58 | €105,250 | €97,532 | -€7,718 | -7.3% |
| Deferred charges and accrued income | 490/1 | €4,342 | €4,769 | +€427 | +9.8% |
| Total equity and liabilities | 10/49 | €176,139 | €165,055 | -€11,085 | -6.3% |
| Equity | 10/15 | €148,241 | €18,356 | -€129,884 | -87.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €146,241 | €16,356 | -€129,884 | -88.8% |
| Distributable reserves | 133 | €146,241 | €16,356 | -€129,884 | -88.8% |
| Amounts payable | 17/49 | €27,899 | €146,698 | +€118,800 | +425.8% |
| Amounts payable within one year | 42/48 | €27,899 | €146,484 | +€118,585 | +425.1% |
| Trade debts | 44 | €311 | - | -€311 | |
| Suppliers | 440/4 | €311 | - | -€311 | |
| Taxes, remuneration and social security | 45 | €27,587 | €44,484 | +€16,896 | +61.2% |
| Taxes | 450/3 | €27,587 | €44,484 | +€16,896 | +61.2% |
| Other amounts payable | 47/48 | - | €102,000 | +€102,000 | |
| Accrued charges and deferred income | 492/3 | - | €215 | +€215 | |
| Other operating charges | 640/8 | €665 | €943 | +€278 | +41.8% |
| Gross operating margin | 9900 | €107,537 | €75,337 | -€32,200 | -29.9% |
| Operating profit (loss) | 9901 | €106,873 | €74,394 | -€32,478 | -30.4% |
| Financial income | 75/76B | €2,533 | €2,981 | +€448 | +17.7% |
| Recurring financial income | 75 | €2,533 | €2,981 | +€448 | +17.7% |
| Financial charges | 65/66B | €634 | €396 | -€238 | -37.6% |
| Recurring financial charges | 65 | €634 | €396 | -€238 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €108,772 | €76,979 | -€31,792 | -29.2% |
| Income taxes | 67/77 | €24,086 | €16,864 | -€7,223 | -30.0% |
| Profit (loss) for the period | 9904 | €84,685 | €60,116 | -€24,570 | -29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €84,685 | €60,116 | -€24,570 | -29.0% |
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 9 October 2026 via checked.be.