MOVEL: 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.
MOVEL
Largest movements
- Intangible fixed assets +€215,688
up €215,688 (+212.2%), from €101,661 to €317,350
- Receivables within one year -€76,937
down €76,937 (-55.9%), from €137,596 to €60,659
of which Trade receivables: -€76,937
- Debts after one year +€179,492
up €179,492 (+278.7%), from €64,407 to €243,899
- Reserves -€23,322
down €23,322 (-39.7%), from €58,776 to €35,454
- Trade debts -€22,099
down €22,099 (-17.6%), from €125,239 to €103,139
- Current portion of long-term debt +€9,215
up €9,215 (+67.1%), from €13,728 to €22,943
- Tax, wage and social debts -€6,156
down €6,156 (-52.3%), from €11,780 to €5,623
- Gross operating margin -€24,719
down €24,719 (-54.4%), from €45,447 to €20,728
- Staff costs -€2,947
down €2,947 (-93.7%), from €3,147 to €200
- Financial charges +€1,978
up €1,978 (+64.9%), from €3,049 to €5,027
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 | €298,929 | €436,058 | +€137,129 | +45.9% |
| Fixed assets | 21/28 | €102,096 | €317,785 | +€215,688 | +211.3% |
| Intangible fixed assets | 21 | €101,661 | €317,350 | +€215,688 | +212.2% |
| Financial fixed assets | 28 | €435 | €435 | = | 0.0% |
| Current assets | 29/58 | €196,833 | €118,274 | -€78,559 | -39.9% |
| Amounts receivable within one year | 40/41 | €137,596 | €60,659 | -€76,937 | -55.9% |
| Trade receivables | 40 | €137,596 | €60,659 | -€76,937 | -55.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €57,006 | €56,687 | -€319 | -0.6% |
| Deferred charges and accrued income | 490/1 | €2,231 | €927 | -€1,304 | -58.4% |
| Total equity and liabilities | 10/49 | €298,929 | €436,058 | +€137,129 | +45.9% |
| Equity | 10/15 | €83,776 | €60,454 | -€23,322 | -27.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €58,776 | €35,454 | -€23,322 | -39.7% |
| Distributable reserves | 133 | €58,776 | €35,454 | -€23,322 | -39.7% |
| Amounts payable | 17/49 | €215,153 | €375,604 | +€160,451 | +74.6% |
| Amounts payable after more than one year | 17 | €64,407 | €243,899 | +€179,492 | +278.7% |
| Financial debts | 170/4 | €64,407 | €243,899 | +€179,492 | +278.7% |
| Amounts payable within one year | 42/48 | €150,746 | €131,705 | -€19,041 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €13,728 | €22,943 | +€9,215 | +67.1% |
| Trade debts | 44 | €125,239 | €103,139 | -€22,099 | -17.6% |
| Suppliers | 440/4 | €125,239 | €103,139 | -€22,099 | -17.6% |
| Taxes, remuneration and social security | 45 | €11,780 | €5,623 | -€6,156 | -52.3% |
| Taxes | 450/3 | €11,780 | €5,623 | -€6,156 | -52.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €3,147 | €200 | -€2,947 | -93.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,333 | €38,534 | +€201 | +0.5% |
| Other operating charges | 640/8 | €442 | €166 | -€276 | -62.5% |
| Gross operating margin | 9900 | €45,447 | €20,728 | -€24,719 | -54.4% |
| Operating profit (loss) | 9901 | €3,525 | -€18,172 | -€21,696 | |
| Financial income | 75/76B | €1 | €54 | +€53 | +3674.1% |
| Recurring financial income | 75 | €1 | €54 | +€53 | +3674.1% |
| Financial charges | 65/66B | €3,049 | €5,027 | +€1,978 | +64.9% |
| Recurring financial charges | 65 | €3,049 | €5,027 | +€1,978 | +64.9% |
| Profit (loss) for the period before taxes | 9903 | €477 | -€23,145 | -€23,622 | |
| Income taxes | 67/77 | €0 | €177 | +€177 | |
| Profit (loss) for the period | 9904 | €477 | -€23,322 | -€23,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €477 | -€23,322 | -€23,798 |
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 9 October 2026 via checked.be.