Movado: 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.
Movado
Largest movements
- Cash +€21,100
up €21,100 (+30.9%), from €68,343 to €89,443
mainly Depreciation (+€31,307) and Net result for the year (+€17,626)
- Receivables within one year -€7,305
down €7,305 (-18.7%), from €39,000 to €31,695
of which Trade receivables: -€8,182
- Reserves -€21,497
down €21,497 (-12.4%), from €172,882 to €151,385
- Debts after one year +€14,545
up €14,545 (+6.7%), from €218,093 to €232,638
- Other debts +€14,348
up €14,348 (+27.8%), from €51,594 to €65,942
- Trade debts +€12,747
up €12,747 (+207%), from €6,154 to €18,901
- Current portion of long-term debt -€6,092
down €6,092 (-12.9%), from €47,314 to €41,222
- Other operating charges +€50,243
up €50,243 (+2,112%), from €2,379 to €52,621
- Gross operating margin +€12,550
up €12,550 (+11.1%), from €113,422 to €125,972
- Taxes -€4,654
down €4,654 (-21.8%), from €21,342 to €16,688
- Depreciation -€3,475
down €3,475 (-10.0%), from €34,782 to €31,307
- Financial charges +€3,292
up €3,292 (+74.0%), from €4,446 to €7,737
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 | €521,178 | €532,410 | +€11,233 | +2.2% |
| Fixed assets | 21/28 | €409,415 | €407,431 | -€1,984 | -0.5% |
| Tangible fixed assets | 22/27 | €409,415 | €407,431 | -€1,984 | -0.5% |
| Land and buildings | 22 | €285,874 | €262,569 | -€23,305 | -8.2% |
| Plant, machinery and equipment | 23 | €102,709 | €78,605 | -€24,104 | -23.5% |
| Furniture and vehicles | 24 | €17,201 | €63,736 | +€46,535 | +271% |
| Other tangible fixed assets | 26 | €3,631 | €2,522 | -€1,109 | -30.5% |
| Current assets | 29/58 | €111,763 | €124,979 | +€13,216 | +11.8% |
| Amounts receivable within one year | 40/41 | €39,000 | €31,695 | -€7,305 | -18.7% |
| Trade receivables | 40 | €34,975 | €26,792 | -€8,182 | -23.4% |
| Other amounts receivable | 41 | €4,025 | €4,902 | +€877 | +21.8% |
| Cash at bank and in hand | 54/58 | €68,343 | €89,443 | +€21,100 | +30.9% |
| Deferred charges and accrued income | 490/1 | €4,420 | €3,842 | -€579 | -13.1% |
| Total equity and liabilities | 10/49 | €521,178 | €532,410 | +€11,233 | +2.2% |
| Equity | 10/15 | €174,882 | €153,385 | -€21,497 | -12.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €172,882 | €151,385 | -€21,497 | -12.4% |
| Distributable reserves | 133 | €172,882 | €151,385 | -€21,497 | -12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €346,296 | €379,025 | +€32,729 | +9.5% |
| Amounts payable after more than one year | 17 | €218,093 | €232,638 | +€14,545 | +6.7% |
| Financial debts | 170/4 | €218,093 | €232,638 | +€14,545 | +6.7% |
| Amounts payable within one year | 42/48 | €128,203 | €145,687 | +€17,485 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €47,314 | €41,222 | -€6,092 | -12.9% |
| Financial debts | 43 | €161 | €0 | -€161 | -100% |
| Credit institutions | 430/8 | €161 | €0 | -€161 | -100% |
| Trade debts | 44 | €6,154 | €18,901 | +€12,747 | +207% |
| Suppliers | 440/4 | €6,154 | €18,901 | +€12,747 | +207% |
| Taxes, remuneration and social security | 45 | €22,979 | €19,622 | -€3,357 | -14.6% |
| Taxes | 450/3 | €22,979 | €19,622 | -€3,357 | -14.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €51,594 | €65,942 | +€14,348 | +27.8% |
| Accrued charges and deferred income | 492/3 | - | €700 | +€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,782 | €31,307 | -€3,475 | -10.0% |
| Other operating charges | 640/8 | €2,379 | €52,621 | +€50,243 | +2,112% |
| Gross operating margin | 9900 | €113,422 | €125,972 | +€12,550 | +11.1% |
| Operating profit (loss) | 9901 | €76,261 | €42,044 | -€34,218 | -44.9% |
| Financial income | 75/76B | €119 | €8 | -€112 | -93.5% |
| Recurring financial income | 75 | €119 | €8 | -€112 | -93.5% |
| Financial charges | 65/66B | €4,446 | €7,737 | +€3,292 | +74.0% |
| Recurring financial charges | 65 | €4,446 | €7,737 | +€3,292 | +74.0% |
| Profit (loss) for the period before taxes | 9903 | €71,935 | €34,314 | -€37,621 | -52.3% |
| Income taxes | 67/77 | €21,342 | €16,688 | -€4,654 | -21.8% |
| Profit (loss) for the period | 9904 | €50,593 | €17,626 | -€32,967 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,593 | €17,626 | -€32,967 | -65.2% |
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 24 October 2026 via checked.be.