MV ASSOCIATES: 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 ASSOCIATES
Largest movements
- Cash -€12,408
down €12,408 (-75.6%), from €16,410 to €4,002
mainly Investment in fixed assets (net) (-€21,387) and Net result for the year (-€16,427)
- Stocks and contracts +€1,750
new in 2025: €1,750
- Profit (loss) carried forward -€16,427
down €16,427 (-17.8%), from -€92,233 to -€108,660
- Debts after one year +€4,824
up €4,824 (+2.2%), from €218,350 to €223,174
- Gross operating margin -€21,605
down €21,605 (-73.7%), from €29,334 to €7,729
- Depreciation +€13,493
up €13,493 (+145%), from €9,296 to €22,789
- Taxes -€3,992
no longer reported in 2025 (was €3,992)
- Other operating charges -€2,529
down €2,529 (-92.0%), from €2,748 to €219
- Financial income -€328
down €328 (-98.4%), from €333 to €5
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 | €157,466 | €146,219 | -€11,247 | -7.1% |
| Fixed assets | 21/28 | €130,769 | €129,368 | -€1,402 | -1.1% |
| Tangible fixed assets | 22/27 | €128,819 | €127,418 | -€1,402 | -1.1% |
| Land and buildings | 22 | €128,819 | €91,551 | -€37,268 | -28.9% |
| Plant, machinery and equipment | 23 | - | €5,677 | +€5,677 | |
| Furniture and vehicles | 24 | - | €30,189 | +€30,189 | |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €26,697 | €16,852 | -€9,845 | -36.9% |
| Stocks and contracts in progress | 3 | - | €1,750 | +€1,750 | |
| Stocks | 30/36 | - | €1,750 | +€1,750 | |
| Amounts receivable within one year | 40/41 | €8,388 | €9,214 | +€826 | +9.9% |
| Trade receivables | 40 | €6,016 | €5,514 | -€501 | -8.3% |
| Other amounts receivable | 41 | €2,372 | €3,700 | +€1,328 | +56.0% |
| Current investments | 50/53 | €13 | - | -€13 | |
| Cash at bank and in hand | 54/58 | €16,410 | €4,002 | -€12,408 | -75.6% |
| Deferred charges and accrued income | 490/1 | €1,885 | €1,885 | = | 0.0% |
| Total equity and liabilities | 10/49 | €157,466 | €146,219 | -€11,247 | -7.1% |
| Equity | 10/15 | -€71,773 | -€88,200 | -€16,427 | -22.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,233 | -€108,660 | -€16,427 | -17.8% |
| Amounts payable | 17/49 | €229,239 | €234,420 | +€5,181 | +2.3% |
| Amounts payable after more than one year | 17 | €218,350 | €223,174 | +€4,824 | +2.2% |
| Financial debts | 170/4 | €218,350 | €223,174 | +€4,824 | +2.2% |
| Amounts payable within one year | 42/48 | €10,889 | €11,246 | +€357 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €9,206 | €8,508 | -€698 | -7.6% |
| Trade debts | 44 | €1,665 | €1,690 | +€25 | +1.5% |
| Suppliers | 440/4 | €1,665 | €1,690 | +€25 | +1.5% |
| Other amounts payable | 47/48 | €18 | €1,048 | +€1,030 | +5,866% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,296 | €22,789 | +€13,493 | +145% |
| Other operating charges | 640/8 | €2,748 | €219 | -€2,529 | -92.0% |
| Gross operating margin | 9900 | €29,334 | €7,729 | -€21,605 | -73.7% |
| Operating profit (loss) | 9901 | €17,291 | -€15,279 | -€32,570 | |
| Financial income | 75/76B | €333 | €5 | -€328 | -98.4% |
| Recurring financial income | 75 | €333 | €5 | -€328 | -98.4% |
| Financial charges | 65/66B | €839 | €1,154 | +€315 | +37.5% |
| Recurring financial charges | 65 | €839 | €1,154 | +€315 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €16,785 | -€16,427 | -€33,212 | |
| Income taxes | 67/77 | €3,992 | - | -€3,992 | |
| Profit (loss) for the period | 9904 | €12,793 | -€16,427 | -€29,221 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,793 | -€16,427 | -€29,221 |
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 18 October 2026 via checked.be.