MOVENDI: 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.
MOVENDI
Largest movements
- Current investments +€930,710
up €930,710 (+69.5%), from €1.3m to €2.3m
- Tangible fixed assets -€772,175
down €772,175 (-85.1%), from €907,746 to €135,571
of which Land and buildings: -€774,782
- Cash +€272,077
up €272,077 (+36.5%), from €745,051 to €1.0m
mainly Investment in fixed assets (net) (+€771,144) and Net result for the year (+€682,683)
- Reserves +€455,022
up €455,022 (+20.1%), from €2.3m to €2.7m
- Other debts +€225,533
up €225,533 (+69.4%), from €325,159 to €550,692
- Debts after one year -€134,616
no longer reported in 2025 (was €134,616)
- Current portion of long-term debt -€132,473
no longer reported in 2025 (was €132,473)
- Gross operating margin +€428,883
up €428,883 (+93.2%), from €460,259 to €889,143
- Financial income +€142,682
up €142,682 (+84.2%), from €169,403 to €312,085
- Financial charges +€77,986
up €77,986 (+164%), from €47,546 to €125,532
- Taxes +€60,803
up €60,803 (+21.0%), from €289,902 to €350,705
- Depreciation -€36,965
down €36,965 (-97.3%), from €37,996 to €1,031
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 | €3,159,968 | €3,565,085 | +€405,118 | +12.8% |
| Fixed assets | 21/28 | €942,746 | €170,571 | -€772,175 | -81.9% |
| Tangible fixed assets | 22/27 | €907,746 | €135,571 | -€772,175 | -85.1% |
| Land and buildings | 22 | €774,782 | - | -€774,782 | |
| Plant, machinery and equipment | 23 | €131,815 | €131,368 | -€447 | -0.3% |
| Furniture and vehicles | 24 | €1,149 | €4,202 | +€3,053 | +266% |
| Financial fixed assets | 28 | €35,000 | €35,000 | = | 0.0% |
| Current assets | 29/58 | €2,217,221 | €3,394,514 | +€1.2m | +53.1% |
| Amounts receivable within one year | 40/41 | €110,569 | €90,959 | -€19,610 | -17.7% |
| Trade receivables | 40 | €110,569 | €90,959 | -€19,610 | -17.7% |
| Current investments | 50/53 | €1,339,498 | €2,270,208 | +€930,710 | +69.5% |
| Cash at bank and in hand | 54/58 | €745,051 | €1,017,129 | +€272,077 | +36.5% |
| Deferred charges and accrued income | 490/1 | €22,103 | €16,219 | -€5,884 | -26.6% |
| Total equity and liabilities | 10/49 | €3,159,968 | €3,565,085 | +€405,118 | +12.8% |
| Equity | 10/15 | €2,485,464 | €2,940,487 | +€455,022 | +18.3% |
| Contributions | 10/11 | €224,000 | €224,000 | = | 0.0% |
| Reserves | 13 | €2,261,464 | €2,716,487 | +€455,022 | +20.1% |
| Distributable reserves | 133 | €2,261,464 | €2,716,487 | +€455,022 | +20.1% |
| Amounts payable | 17/49 | €674,503 | €624,599 | -€49,905 | -7.4% |
| Amounts payable after more than one year | 17 | €134,616 | - | -€134,616 | |
| Financial debts | 170/4 | €134,616 | - | -€134,616 | |
| Amounts payable within one year | 42/48 | €488,336 | €604,362 | +€116,025 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €132,473 | - | -€132,473 | |
| Trade debts | 44 | €9,441 | €3,481 | -€5,960 | -63.1% |
| Suppliers | 440/4 | €9,441 | €3,481 | -€5,960 | -63.1% |
| Taxes, remuneration and social security | 45 | €21,264 | €50,188 | +€28,924 | +136% |
| Taxes | 450/3 | €17,347 | €44,401 | +€27,054 | +156% |
| Remuneration and social security | 454/9 | €3,916 | €5,787 | +€1,871 | +47.8% |
| Other amounts payable | 47/48 | €325,159 | €550,692 | +€225,533 | +69.4% |
| Accrued charges and deferred income | 492/3 | €51,551 | €20,237 | -€31,314 | -60.7% |
| Remuneration, social security and pensions | 62 | €29,577 | €32,809 | +€3,232 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,996 | €1,031 | -€36,965 | -97.3% |
| Other operating charges | 640/8 | €11,068 | €8,467 | -€2,601 | -23.5% |
| Gross operating margin | 9900 | €460,259 | €889,143 | +€428,883 | +93.2% |
| Operating profit (loss) | 9901 | €381,618 | €846,836 | +€465,217 | +122% |
| Financial income | 75/76B | €169,403 | €312,085 | +€142,682 | +84.2% |
| Recurring financial income | 75 | €169,403 | €312,085 | +€142,682 | +84.2% |
| Financial charges | 65/66B | €47,546 | €125,532 | +€77,986 | +164% |
| Recurring financial charges | 65 | €47,546 | €125,532 | +€77,986 | +164% |
| Profit (loss) for the period before taxes | 9903 | €503,475 | €1,033,388 | +€529,913 | +105% |
| Transfer from deferred taxes | 780 | €97,646 | - | -€97,646 | |
| Income taxes | 67/77 | €289,902 | €350,705 | +€60,803 | +21.0% |
| Profit (loss) for the period | 9904 | €311,220 | €682,683 | +€371,463 | +119% |
| Transfer from tax-exempt reserves | 789 | €292,938 | - | -€292,938 | |
| Profit (loss) for the period to be appropriated | 9905 | €604,157 | €682,683 | +€78,526 | +13.0% |
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 16 October 2026 via checked.be.