MOVU: 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.
What changed
MOVU
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€42.8m
2024 · -€19.2m-€23.5m
Equity
€36.3m
2024 · €39.0m-€2.8m
Cash
€958,401
2024 · €131,113+€827,288
Balance sheet total
€194.4m
2024 · €171.4m+€23.0m
Largest movements
Assets
- Stocks and contracts +€25.1m
up €25.1m (+74.7%), from €33.6m to €58.8m
of which Contracts in progress: +€23.3m
- Tangible fixed assets +€9.2m
up €9.2m (+124%), from €7.4m to €16.7m
of which Assets under construction and advance payments: +€8.7m
- Financial fixed assets -€8.1m
down €8.1m (-32.3%), from €24.9m to €16.9m
of which Affiliated companies: -€8.1m
- Intangible fixed assets -€4.9m
down €4.9m (-7.9%), from €62.3m to €57.4m
- Receivables within one year +€1.9m
up €1.9m (+4.9%), from €39.7m to €41.7m
of which Trade receivables: +€3.8m
Equity and liabilities
- Debts after one year +€53.8m
up €53.8m (+264%), from €20.4m to €74.2m
- Other debts -€31.2m
down €31.2m (-94.1%), from €33.2m to €1.9m
- Advances received +€14.8m
up €14.8m (+118%), from €12.6m to €27.5m
- Trade debts -€13.9m
down €13.9m (-23.3%), from €59.9m to €45.9m
- Profit (loss) carried forward -€3.0m
down €3.0m, from €2.4m to -€568,331
Income statement
- Goods and materials +€28.9m
up €28.9m (+32.3%), from €89.6m to €118.5m
of which Purchases: +€31.4m
- Turnover +€26.6m
up €26.6m (+25.6%), from €103.9m to €130.5m
- Depreciation +€9.9m
up €9.9m (+158%), from €6.3m to €16.2m
- Services and other goods +€8.4m
up €8.4m (+33.6%), from €25.0m to €33.5m
- Staff costs +€7.3m
up €7.3m (+38.2%), from €19.1m to €26.5m
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
-€19.2m
Turnover
+€26.6m
Other operating income
+€1.1m
Goods and materials
-€28.9m
Services and other goods
-€8.4m
Staff costs
-€7.3m
Depreciation
-€9.9m
Write-downs
+€694,976
Provisions
+€61,578
Other operating charges
+€115,030
Other operating items
+€2.6m
Financial income
-€2.6m
Financial charges
+€2.7m
Taxes
-€138,780
Result 2025
-€42.8m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€82.1m
Investment
-€12.5m
Financing
+€95.4m
Cash 2024
€131,113
From operations (derived)
-€82.1m
Net result for the year
-€42.8m
Depreciation
+€16.2m
Stocks and contracts
-€25.1m
Receivables within one year
-€1.9m
Deferred charges and accrued income
+€1.2m
Smaller working-capital items
-€52,685
Trade debts
-€13.9m
Tax, wage and social debts
+€717,692
Advances received
+€14.8m
Other debts
-€31.2m
Investment (derived)
-€12.5m
Investment in fixed assets (net)
-€12.5m
Financing
+€95.4m
Debts after one year
+€53.8m
Current portion of long-term debt
+€28,038
Short-term financial debts
+€1.6m
Contributions, distributions and other
+€40.0m
Cash 2025
€958,401
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €171,419,276 | €194,419,078 | +€23.0m | +13.4% |
| Fixed assets | 21/28 | €94,678,917 | €90,966,852 | -€3.7m | -3.9% |
| Intangible fixed assets | 21 | €62,290,782 | €57,391,307 | -€4.9m | -7.9% |
| Tangible fixed assets | 22/27 | €7,445,797 | €16,686,282 | +€9.2m | +124% |
| Land and buildings | 22 | €1,189,263 | €1,169,282 | -€19,981 | -1.7% |
| Plant, machinery and equipment | 23 | €1,010,555 | €1,075,053 | +€64,498 | +6.4% |
| Furniture and vehicles | 24 | €968,100 | €1,381,185 | +€413,085 | +42.7% |
| Leasing and similar rights | 25 | - | €81,642 | +€81,642 | |
| Assets under construction and advance payments | 27 | €4,277,878 | €12,979,119 | +€8.7m | +203% |
| Financial fixed assets | 28 | €24,942,338 | €16,889,263 | -€8.1m | -32.3% |
| Affiliated companies | 280/1 | €24,939,372 | €16,886,147 | -€8.1m | -32.3% |
| Participating interests | 280 | €9,320,000 | €9,320,000 | = | 0.0% |
| Amounts receivable | 281 | €15,619,372 | €7,566,147 | -€8.1m | -51.6% |
| Other financial fixed assets | 284/8 | €2,966 | €3,116 | +€150 | +5.1% |
| Amounts receivable and cash guarantees | 285/8 | €2,966 | €3,116 | +€150 | +5.1% |
| Current assets | 29/58 | €76,740,360 | €103,452,226 | +€26.7m | +34.8% |
| Stocks and contracts in progress | 3 | €33,636,793 | €58,761,491 | +€25.1m | +74.7% |
| Stocks | 30/36 | €17,035,259 | €18,810,370 | +€1.8m | +10.4% |
| Raw materials and consumables | 30/31 | €16,019,808 | €17,471,551 | +€1.5m | +9.1% |
| Finished goods | 33 | €983,362 | €1,054,620 | +€71,258 | +7.2% |
| Goods purchased for resale | 34 | €32,088 | €284,199 | +€252,111 | +786% |
| Contracts in progress | 37 | €16,601,535 | €39,951,122 | +€23.3m | +141% |
| Amounts receivable within one year | 40/41 | €39,717,275 | €41,663,603 | +€1.9m | +4.9% |
| Trade receivables | 40 | €33,248,996 | €37,063,269 | +€3.8m | +11.5% |
| Other amounts receivable | 41 | €6,468,280 | €4,600,334 | -€1.9m | -28.9% |
| Cash at bank and in hand | 54/58 | €131,113 | €958,401 | +€827,288 | +631% |
| Deferred charges and accrued income | 490/1 | €3,255,178 | €2,068,731 | -€1.2m | -36.4% |
| Total equity and liabilities | 10/49 | €171,419,276 | €194,419,078 | +€23.0m | +13.4% |
| Equity | 10/15 | €39,036,023 | €36,273,702 | -€2.8m | -7.1% |
| Contributions | 10/11 | €36,613,815 | €36,842,033 | +€228,218 | +0.6% |
| Capital | 10 | €36,613,815 | €36,842,033 | +€228,218 | +0.6% |
| Issued capital | 100 | €36,613,815 | €36,842,033 | +€228,218 | +0.6% |
| Profit (loss) carried forward | 14 | €2,422,209 | -€568,331 | -€3.0m | |
| Provisions and deferred taxes | 16 | €1,049,405 | €1,053,734 | +€4,329 | +0.4% |
| Provisions for liabilities and charges | 160/5 | €1,049,405 | €1,053,734 | +€4,329 | +0.4% |
| Pensions and similar obligations | 160 | €105 | €179 | +€74 | +70.5% |
| Other liabilities and charges | 164/5 | €1,049,300 | €1,053,555 | +€4,255 | +0.4% |
| Amounts payable | 17/49 | €131,333,848 | €157,091,642 | +€25.8m | +19.6% |
| Amounts payable after more than one year | 17 | €20,404,500 | €74,189,565 | +€53.8m | +264% |
| Financial debts | 170/4 | €20,404,500 | €74,189,565 | +€53.8m | +264% |
| Leasing and similar obligations | 172 | - | €56,075 | +€56,075 | |
| Other loans | 174 | €20,404,500 | €74,133,490 | +€53.7m | +263% |
| Amounts payable within one year | 42/48 | €110,198,674 | €82,228,417 | -€28.0m | -25.4% |
| Current portion of amounts payable after more than one year | 42 | - | €28,038 | +€28,038 | |
| Financial debts | 43 | €457,606 | €2,063,646 | +€1.6m | +351% |
| Credit institutions | 430/8 | €427,002 | €2,063,646 | +€1.6m | +383% |
| Other loans | 439 | €30,604 | - | -€30,604 | |
| Trade debts | 44 | €59,850,258 | €45,914,128 | -€13.9m | -23.3% |
| Suppliers | 440/4 | €59,850,258 | €45,914,128 | -€13.9m | -23.3% |
| Advances received on contracts in progress | 46 | €12,618,117 | €27,466,817 | +€14.8m | +118% |
| Taxes, remuneration and social security | 45 | €4,088,919 | €4,806,611 | +€717,692 | +17.6% |
| Taxes | 450/3 | €1,784,215 | €1,587,582 | -€196,633 | -11.0% |
| Remuneration and social security | 454/9 | €2,304,704 | €3,219,029 | +€914,325 | +39.7% |
| Other amounts payable | 47/48 | €33,183,774 | €1,949,176 | -€31.2m | -94.1% |
| Accrued charges and deferred income | 492/3 | €730,674 | €673,660 | -€57,014 | -7.8% |
| Operating income | 70/76A | €125,095,205 | €155,300,460 | +€30.2m | +24.1% |
| Turnover | 70 | €103,939,641 | €130,506,777 | +€26.6m | +25.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €10,446,869 | €4,928,240 | -€5.5m | -52.8% |
| Own construction capitalised | 72 | €9,460,308 | €17,519,331 | +€8.1m | +85.2% |
| Other operating income | 74 | €1,248,386 | €2,346,112 | +€1.1m | +87.9% |
| Operating charges | 60/66A | €141,006,953 | €194,731,395 | +€53.7m | +38.1% |
| Goods for resale, raw materials and consumables | 60 | €89,564,073 | €118,512,280 | +€28.9m | +32.3% |
| Purchases | 600/8 | €89,146,704 | €120,503,167 | +€31.4m | +35.2% |
| Change in stocks: decrease (increase) | 609 | €417,369 | -€1,990,886 | -€2.4m | |
| Services and other goods | 61 | €25,031,505 | €33,452,473 | +€8.4m | +33.6% |
| Remuneration, social security and pensions | 62 | €19,143,955 | €26,466,041 | +€7.3m | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,288,562 | €16,226,195 | +€9.9m | +158% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €712,687 | €17,711 | -€694,976 | -97.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €65,907 | €4,329 | -€61,578 | -93.4% |
| Other operating charges | 640/8 | €167,396 | €52,366 | -€115,030 | -68.7% |
| Non-recurring operating charges | 66A | €32,868 | - | -€32,868 | |
| Operating profit (loss) | 9901 | -€15,911,748 | -€39,430,935 | -€23.5m | -148% |
| Financial income | 75/76B | €4,353,790 | €1,767,138 | -€2.6m | -59.4% |
| Recurring financial income | 75 | €4,353,790 | €1,767,138 | -€2.6m | -59.4% |
| Income from financial fixed assets | 750 | €889,014 | €904,630 | +€15,616 | +1.8% |
| Income from current assets | 751 | €355,132 | €73,481 | -€281,652 | -79.3% |
| Other financial income | 752/9 | €3,109,643 | €789,027 | -€2.3m | -74.6% |
| Financial charges | 65/66B | €8,061,491 | €5,332,460 | -€2.7m | -33.9% |
| Recurring financial charges | 65 | €8,061,491 | €5,332,460 | -€2.7m | -33.9% |
| Debt charges | 650 | €5,278,017 | €4,202,592 | -€1.1m | -20.4% |
| Other financial charges | 652/9 | €2,783,474 | €1,129,868 | -€1.7m | -59.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,619,449 | -€42,996,257 | -€23.4m | -119% |
| Income taxes | 67/77 | -€372,715 | -€233,935 | +€138,780 | +37.2% |
| Taxes | 670/3 | - | €0 | = | |
| Tax adjustments and reversals of tax provisions | 77 | €372,715 | €233,935 | -€138,780 | -37.2% |
| Profit (loss) for the period | 9904 | -€19,246,734 | -€42,762,321 | -€23.5m | -122% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,246,734 | -€42,762,321 | -€23.5m | -122% |
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 17 October 2026 via checked.be.