MOVADE: 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.
What changed
MOVADE
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€268,958
2024 · €217,528+€51,430
Equity
€1.3m
2024 · €1.0m+€268,958
Cash
€23,464
2024 · €1,514+€21,950
Balance sheet total
€6.8m
2024 · €6.8m+€1,227
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward +€268,958
up €268,958 (+56.6%), from -€475,591 to -€206,633
- Debts after one year -€238,338
down €238,338 (-4.5%), from €5.3m to €5.1m
Income statement
- Gross operating margin +€82,337
up €82,337 (+16.4%), from €502,739 to €585,076
- Taxes +€17,776
up €17,776 (+23.9%), from €74,270 to €92,045
- Financial charges +€13,801
up €13,801 (+7.5%), from €183,429 to €197,229
- Depreciation -€13,309
down €13,309 (-50.3%), from €26,486 to €13,176
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.
Result 2024
€217,528
Gross operating margin
+€82,337
Depreciation
+€13,309
Other operating charges
+€910
Other operating items
-€13,319
Financial income
-€231
Financial charges
-€13,801
Taxes
-€17,776
Result 2025
€268,958
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.
From operations
+€225,917
Investment
+€32,039
Financing
-€236,006
Cash 2024
€1,514
From operations (derived)
+€225,917
Net result for the year
+€268,958
Depreciation
+€13,176
Receivables within one year
-€24,423
Deferred charges and accrued income
-€69
Trade debts
+€978
Tax, wage and social debts
+€41,089
Other debts
-€17,512
Accrued charges and deferred income
-€56,280
Investment (derived)
+€32,039
Investment in fixed assets (net)
+€32,039
Financing
-€236,006
Debts after one year
-€238,338
Current portion of long-term debt
+€2,332
Cash 2025
€23,464
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,820,343 | €6,821,570 | +€1,227 | 0.0% |
| Fixed assets | 21/28 | €6,737,539 | €6,692,324 | -€45,215 | -0.7% |
| Tangible fixed assets | 22/27 | €81,676 | €36,461 | -€45,215 | -55.4% |
| Plant, machinery and equipment | 23 | - | €2,176 | +€2,176 | |
| Furniture and vehicles | 24 | €64,133 | €11,238 | -€52,895 | -82.5% |
| Other tangible fixed assets | 26 | €17,543 | €23,047 | +€5,504 | +31.4% |
| Financial fixed assets | 28 | €6,655,863 | €6,655,863 | = | 0.0% |
| Current assets | 29/58 | €82,804 | €129,246 | +€46,442 | +56.1% |
| Amounts receivable within one year | 40/41 | €79,657 | €104,081 | +€24,423 | +30.7% |
| Trade receivables | 40 | €30,371 | €88,126 | +€57,755 | +190.2% |
| Other amounts receivable | 41 | €49,286 | €15,955 | -€33,332 | -67.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,514 | €23,464 | +€21,950 | +1449.7% |
| Deferred charges and accrued income | 490/1 | €1,633 | €1,701 | +€69 | +4.2% |
| Total equity and liabilities | 10/49 | €6,820,343 | €6,821,570 | +€1,227 | 0.0% |
| Equity | 10/15 | €1,026,035 | €1,294,993 | +€268,958 | +26.2% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €1,626 | €1,626 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,626 | €1,626 | = | 0.0% |
| Legal reserve | 130 | €1,626 | €1,626 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€475,591 | -€206,633 | +€268,958 | +56.6% |
| Amounts payable | 17/49 | €5,794,308 | €5,526,577 | -€267,731 | -4.6% |
| Amounts payable after more than one year | 17 | €5,307,748 | €5,069,410 | -€238,338 | -4.5% |
| Financial debts | 170/4 | €5,307,748 | €5,069,410 | -€238,338 | -4.5% |
| Amounts payable within one year | 42/48 | €321,752 | €348,639 | +€26,887 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €236,006 | €238,338 | +€2,332 | +1.0% |
| Trade debts | 44 | €92 | €1,071 | +€978 | +1058.1% |
| Suppliers | 440/4 | €92 | €1,071 | +€978 | +1058.1% |
| Taxes, remuneration and social security | 45 | €12,730 | €53,819 | +€41,089 | +322.8% |
| Taxes | 450/3 | €12,730 | €53,819 | +€41,089 | +322.8% |
| Other amounts payable | 47/48 | €72,924 | €55,412 | -€17,512 | -24.0% |
| Accrued charges and deferred income | 492/3 | €164,807 | €108,528 | -€56,280 | -34.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,486 | €13,176 | -€13,309 | -50.3% |
| Other operating charges | 640/8 | €1,258 | €348 | -€910 | -72.3% |
| Non-recurring operating charges | 66A | - | €13,319 | +€13,319 | |
| Gross operating margin | 9900 | €502,739 | €585,076 | +€82,337 | +16.4% |
| Operating profit (loss) | 9901 | €474,995 | €558,233 | +€83,237 | +17.5% |
| Financial income | 75/76B | €231 | €0 | -€231 | -100.0% |
| Recurring financial income | 75 | €231 | €0 | -€231 | -100.0% |
| Financial charges | 65/66B | €183,429 | €197,229 | +€13,801 | +7.5% |
| Recurring financial charges | 65 | €183,429 | €197,229 | +€13,801 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €291,797 | €361,003 | +€69,206 | +23.7% |
| Income taxes | 67/77 | €74,270 | €92,045 | +€17,776 | +23.9% |
| Profit (loss) for the period | 9904 | €217,528 | €268,958 | +€51,430 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €217,528 | €268,958 | +€51,430 | +23.6% |
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 2 October 2026 via checked.be.