MV+: 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.
MV+
Largest movements
- Cash -€172,735
down €172,735 (-78.4%), from €220,343 to €47,608
mainly Receivables within one year (-€89,261) and Other debts (-€64,795)
- Receivables within one year +€89,261
up €89,261 (+503.7%), from €17,720 to €106,981
of which Trade receivables: +€93,417
- Tangible fixed assets +€5,407
up €5,407 (+608.5%), from €889 to €6,296
- Deferred charges and accrued income +€4,616
new in 2025: €4,616
- Other debts -€64,795
down €64,795 (-40.2%), from €161,372 to €96,577
- Tax, wage and social debts -€19,119
down €19,119 (-26.4%), from €72,426 to €53,307
- Trade debts +€10,464
up €10,464 (+486.1%), from €2,153 to €12,617
- Gross operating margin -€86,224
down €86,224 (-48.7%), from €176,992 to €90,768
- Taxes -€18,650
down €18,650 (-43.8%), from €42,569 to €23,919
- Depreciation +€2,389
up €2,389 (+523.6%), from €456 to €2,845
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 | €238,951 | €165,501 | -€73,450 | -30.7% |
| Fixed assets | 21/28 | €889 | €6,296 | +€5,407 | +608.5% |
| Tangible fixed assets | 22/27 | €889 | €6,296 | +€5,407 | +608.5% |
| Furniture and vehicles | 24 | €889 | €6,296 | +€5,407 | +608.5% |
| Current assets | 29/58 | €238,063 | €159,205 | -€78,858 | -33.1% |
| Amounts receivable within one year | 40/41 | €17,720 | €106,981 | +€89,261 | +503.7% |
| Trade receivables | 40 | €12,384 | €105,801 | +€93,417 | +754.3% |
| Other amounts receivable | 41 | €5,336 | €1,180 | -€4,155 | -77.9% |
| Cash at bank and in hand | 54/58 | €220,343 | €47,608 | -€172,735 | -78.4% |
| Deferred charges and accrued income | 490/1 | - | €4,616 | +€4,616 | |
| Total equity and liabilities | 10/49 | €238,951 | €165,501 | -€73,450 | -30.7% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €235,951 | €162,501 | -€73,450 | -31.1% |
| Amounts payable within one year | 42/48 | €235,951 | €162,501 | -€73,450 | -31.1% |
| Trade debts | 44 | €2,153 | €12,617 | +€10,464 | +486.1% |
| Suppliers | 440/4 | €2,153 | €12,617 | +€10,464 | +486.1% |
| Taxes, remuneration and social security | 45 | €72,426 | €53,307 | -€19,119 | -26.4% |
| Taxes | 450/3 | €72,426 | €53,307 | -€19,119 | -26.4% |
| Other amounts payable | 47/48 | €161,372 | €96,577 | -€64,795 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €456 | €2,845 | +€2,389 | +523.6% |
| Other operating charges | 640/8 | €631 | €671 | +€40 | +6.3% |
| Gross operating margin | 9900 | €176,992 | €90,768 | -€86,224 | -48.7% |
| Operating profit (loss) | 9901 | €175,904 | €87,252 | -€88,652 | -50.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,055 | €839 | -€216 | -20.5% |
| Recurring financial charges | 65 | €1,055 | €839 | -€216 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €174,849 | €86,413 | -€88,436 | -50.6% |
| Income taxes | 67/77 | €42,569 | €23,919 | -€18,650 | -43.8% |
| Profit (loss) for the period | 9904 | €132,280 | €62,494 | -€69,786 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €132,280 | €62,494 | -€69,786 | -52.8% |
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 12 October 2026 via checked.be.