MOVACO: 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.
MOVACO
Largest movements
- Deferred charges and accrued income +€1.4m
up €1.4m (+2,519%), from €54,972 to €1.4m
- Financial fixed assets +€210,000
up €210,000 (+67.6%), from €310,765 to €520,765
- Receivables within one year +€104,527
up €104,527 (+60.1%), from €173,920 to €278,447
of which Other amounts receivable: +€121,446
- Tangible fixed assets +€57,085
up €57,085 (+3.2%), from €1.8m to €1.8m
of which Land and buildings: +€60,705
- Other debts +€1.7m
up €1.7m (+178%), from €969,047 to €2.7m
- Debts after one year +€100,000
new in 2025: €100,000
- Reserves -€76,091
down €76,091 (-10.9%), from €696,062 to €619,971
of which Tax-exempt reserves: -€77,620
- Gross operating margin -€1.4m
down €1.4m (-56.9%), from €2.4m to €1.0m
- Write-downs -€1.2m
down €1.2m (-100%), from €1.2m to €0
- Financial income -€49,828
down €49,828 (-100%), from €49,828 to €0
- Taxes -€44,445
down €44,445 (-17.6%), from €252,999 to €208,554
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 | €2,333,902 | €4,090,924 | +€1.8m | +75.3% |
| Fixed assets | 21/28 | €2,098,069 | €2,365,154 | +€267,085 | +12.7% |
| Tangible fixed assets | 22/27 | €1,787,304 | €1,844,389 | +€57,085 | +3.2% |
| Land and buildings | 22 | €1,752,308 | €1,813,014 | +€60,705 | +3.5% |
| Other tangible fixed assets | 26 | €34,996 | €31,375 | -€3,621 | -10.3% |
| Financial fixed assets | 28 | €310,765 | €520,765 | +€210,000 | +67.6% |
| Current assets | 29/58 | €235,833 | €1,725,771 | +€1.5m | +632% |
| Amounts receivable within one year | 40/41 | €173,920 | €278,447 | +€104,527 | +60.1% |
| Trade receivables | 40 | €16,919 | €0 | -€16,919 | -100% |
| Other amounts receivable | 41 | €157,001 | €278,447 | +€121,446 | +77.4% |
| Cash at bank and in hand | 54/58 | €6,941 | €7,654 | +€713 | +10.3% |
| Deferred charges and accrued income | 490/1 | €54,972 | €1,439,670 | +€1.4m | +2,519% |
| Total equity and liabilities | 10/49 | €2,333,902 | €4,090,924 | +€1.8m | +75.3% |
| Equity | 10/15 | €1,153,062 | €1,076,971 | -€76,091 | -6.6% |
| Contributions | 10/11 | €457,000 | €457,000 | = | 0.0% |
| Capital | 10 | €457,000 | €457,000 | = | 0.0% |
| Issued capital | 100 | €457,000 | €457,000 | = | 0.0% |
| Reserves | 13 | €696,062 | €619,971 | -€76,091 | -10.9% |
| Non-distributable reserves | 130/1 | €45,700 | €45,700 | = | 0.0% |
| Legal reserve | 130 | €45,700 | €45,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €635,379 | €557,759 | -€77,620 | -12.2% |
| Distributable reserves | 133 | €14,983 | €16,512 | +€1,529 | +10.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €211,793 | €185,920 | -€25,873 | -12.2% |
| Deferred taxes | 168 | €211,793 | €185,920 | -€25,873 | -12.2% |
| Amounts payable | 17/49 | €969,047 | €2,828,034 | +€1.9m | +192% |
| Amounts payable after more than one year | 17 | - | €100,000 | +€100,000 | |
| Other amounts payable | 178/9 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €969,047 | €2,728,034 | +€1.8m | +182% |
| Trade debts | 44 | - | €37,709 | +€37,709 | |
| Suppliers | 440/4 | - | €37,709 | +€37,709 | |
| Other amounts payable | 47/48 | €969,047 | €2,690,325 | +€1.7m | +178% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,878 | €108,959 | -€16,919 | -13.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,233,502 | €0 | -€1.2m | -100% |
| Other operating charges | 640/8 | €176,885 | €183,700 | +€6,814 | +3.9% |
| Gross operating margin | 9900 | €2,380,313 | €1,026,582 | -€1.4m | -56.9% |
| Operating profit (loss) | 9901 | €844,048 | €733,923 | -€110,124 | -13.0% |
| Financial income | 75/76B | €49,828 | €0 | -€49,828 | -100% |
| Recurring financial income | 75 | €49,828 | €0 | -€49,828 | -100% |
| Financial charges | 65/66B | €207 | €20,133 | +€19,926 | +9,621% |
| Recurring financial charges | 65 | €207 | €20,133 | +€19,926 | +9,621% |
| Profit (loss) for the period before taxes | 9903 | €893,669 | €713,790 | -€179,879 | -20.1% |
| Transfer from deferred taxes | 780 | €25,873 | €25,873 | = | 0.0% |
| Income taxes | 67/77 | €252,999 | €208,554 | -€44,445 | -17.6% |
| Profit (loss) for the period | 9904 | €666,543 | €531,109 | -€135,434 | -20.3% |
| Transfer from tax-exempt reserves | 789 | €77,620 | €77,620 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €744,163 | €608,729 | -€135,434 | -18.2% |
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 13 October 2026 via checked.be.