MPV: 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.
MPV
Largest movements
- Cash +€13,998
up €13,998 (+17.5%), from €79,893 to €93,892
mainly Net result for the year (+€19,006) and Other debts (+€17,122)
- Receivables within one year -€7,016
down €7,016 (-89.8%), from €7,811 to €795
- Other debts +€17,122
up €17,122 (+94.1%), from €18,202 to €35,325
- Reserves -€12,171
down €12,171 (-20.7%), from €58,782 to €46,612
- Trade debts +€2,453
up €2,453 (+315%), from €780 to €3,233
- Gross operating margin +€3,677
up €3,677 (+10.8%), from €34,086 to €37,763
- Taxes +€1,201
up €1,201 (+14.8%), from €8,118 to €9,318
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 | €130,291 | €137,833 | +€7,542 | +5.8% |
| Fixed assets | 21/28 | €42,587 | €43,147 | +€559 | +1.3% |
| Tangible fixed assets | 22/27 | €39,337 | €39,897 | +€559 | +1.4% |
| Plant, machinery and equipment | 23 | €6,932 | €6,091 | -€841 | -12.1% |
| Furniture and vehicles | 24 | €5,905 | €2,952 | -€2,952 | -50.0% |
| Other tangible fixed assets | 26 | €26,501 | €30,853 | +€4,352 | +16.4% |
| Financial fixed assets | 28 | €3,250 | €3,250 | = | 0.0% |
| Current assets | 29/58 | €87,704 | €94,686 | +€6,982 | +8.0% |
| Amounts receivable within one year | 40/41 | €7,811 | €795 | -€7,016 | -89.8% |
| Other amounts receivable | 41 | €7,811 | €795 | -€7,016 | -89.8% |
| Cash at bank and in hand | 54/58 | €79,893 | €93,892 | +€13,998 | +17.5% |
| Total equity and liabilities | 10/49 | €130,291 | €137,833 | +€7,542 | +5.8% |
| Equity | 10/15 | €103,829 | €91,658 | -€12,171 | -11.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €58,782 | €46,612 | -€12,171 | -20.7% |
| Distributable reserves | 133 | €58,782 | €46,612 | -€12,171 | -20.7% |
| Profit (loss) carried forward | 14 | €26,454 | €26,454 | = | 0.0% |
| Amounts payable | 17/49 | €26,463 | €46,175 | +€19,712 | +74.5% |
| Amounts payable within one year | 42/48 | €26,463 | €46,175 | +€19,712 | +74.5% |
| Financial debts | 43 | €276 | €665 | +€389 | +141% |
| Credit institutions | 430/8 | €276 | €665 | +€389 | +141% |
| Trade debts | 44 | €780 | €3,233 | +€2,453 | +315% |
| Suppliers | 440/4 | €780 | €3,233 | +€2,453 | +315% |
| Taxes, remuneration and social security | 45 | €7,205 | €6,953 | -€252 | -3.5% |
| Taxes | 450/3 | €7,205 | €6,953 | -€252 | -3.5% |
| Other amounts payable | 47/48 | €18,202 | €35,325 | +€17,122 | +94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,369 | €9,188 | -€180 | -1.9% |
| Other operating charges | 640/8 | €628 | €644 | +€16 | +2.5% |
| Gross operating margin | 9900 | €34,086 | €37,763 | +€3,677 | +10.8% |
| Operating profit (loss) | 9901 | €24,090 | €27,931 | +€3,841 | +15.9% |
| Financial income | 75/76B | €372 | €467 | +€95 | +25.5% |
| Recurring financial income | 75 | €372 | €467 | +€95 | +25.5% |
| Financial charges | 65/66B | €93 | €74 | -€19 | -20.7% |
| Recurring financial charges | 65 | €93 | €74 | -€19 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €24,369 | €28,324 | +€3,956 | +16.2% |
| Income taxes | 67/77 | €8,118 | €9,318 | +€1,201 | +14.8% |
| Profit (loss) for the period | 9904 | €16,251 | €19,006 | +€2,755 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,251 | €19,006 | +€2,755 | +17.0% |
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 25 October 2026 via checked.be.