MV Beheer: 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 Beheer
Largest movements
- Cash +€59,215
up €59,215 (+27.4%), from €216,179 to €275,395
mainly Net result for the year (+€43,525) and Depreciation (+€22,318)
- Receivables within one year -€17,744
down €17,744 (-8.6%), from €205,393 to €187,650
of which Trade receivables: -€53,309
- Tangible fixed assets -€15,051
down €15,051 (-3.5%), from €432,937 to €417,885
of which Land and buildings: -€14,877
- Reserves +€43,525
up €43,525 (+8.4%), from €515,287 to €558,811
of which Distributable reserves: +€45,550
- Debts after one year -€28,050
down €28,050 (-11.1%), from €252,112 to €224,062
of which Financial debts: -€29,490
- Tax, wage and social debts +€8,860
up €8,860 (+159%), from €5,578 to €14,438
- Gross operating margin +€57,210
up €57,210 (+132%), from €43,367 to €100,576
- Taxes +€14,173
up €14,173 (+389%), from €3,647 to €17,820
- Financial charges +€11,276
up €11,276 (+98.2%), from €11,481 to €22,757
- Other operating charges -€2,469
down €2,469 (-57.6%), from €4,283 to €1,814
- Depreciation -€1,605
down €1,605 (-6.7%), from €23,922 to €22,318
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 | €854,529 | €881,164 | +€26,635 | +3.1% |
| Fixed assets | 21/28 | €432,937 | €417,885 | -€15,051 | -3.5% |
| Tangible fixed assets | 22/27 | €432,937 | €417,885 | -€15,051 | -3.5% |
| Land and buildings | 22 | €432,763 | €417,885 | -€14,877 | -3.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €174 | €0 | -€174 | -100% |
| Current assets | 29/58 | €421,592 | €463,279 | +€41,687 | +9.9% |
| Amounts receivable within one year | 40/41 | €205,393 | €187,650 | -€17,744 | -8.6% |
| Trade receivables | 40 | €105,308 | €51,999 | -€53,309 | -50.6% |
| Other amounts receivable | 41 | €100,085 | €135,651 | +€35,565 | +35.5% |
| Cash at bank and in hand | 54/58 | €216,179 | €275,395 | +€59,215 | +27.4% |
| Deferred charges and accrued income | 490/1 | €20 | €235 | +€215 | +1,090% |
| Total equity and liabilities | 10/49 | €854,529 | €881,164 | +€26,635 | +3.1% |
| Equity | 10/15 | €544,744 | €588,269 | +€43,525 | +8.0% |
| Contributions | 10/11 | €29,458 | €29,458 | = | 0.0% |
| Reserves | 13 | €515,287 | €558,811 | +€43,525 | +8.4% |
| Tax-exempt reserves | 132 | €35,451 | €33,425 | -€2,026 | -5.7% |
| Distributable reserves | 133 | €479,836 | €525,386 | +€45,550 | +9.5% |
| Provisions and deferred taxes | 16 | €18,254 | €17,211 | -€1,043 | -5.7% |
| Deferred taxes | 168 | €18,254 | €17,211 | -€1,043 | -5.7% |
| Amounts payable | 17/49 | €291,531 | €275,684 | -€15,846 | -5.4% |
| Amounts payable after more than one year | 17 | €252,112 | €224,062 | -€28,050 | -11.1% |
| Financial debts | 170/4 | €248,930 | €219,441 | -€29,490 | -11.8% |
| Other amounts payable | 178/9 | €3,181 | €4,621 | +€1,440 | +45.3% |
| Amounts payable within one year | 42/48 | €37,624 | €49,827 | +€12,203 | +32.4% |
| Current portion of amounts payable after more than one year | 42 | €28,424 | €29,490 | +€1,066 | +3.7% |
| Trade debts | 44 | €3,621 | €5,899 | +€2,278 | +62.9% |
| Suppliers | 440/4 | €3,621 | €5,899 | +€2,278 | +62.9% |
| Taxes, remuneration and social security | 45 | €5,578 | €14,438 | +€8,860 | +159% |
| Taxes | 450/3 | €5,578 | €14,438 | +€8,860 | +159% |
| Accrued charges and deferred income | 492/3 | €1,795 | €1,795 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,922 | €22,318 | -€1,605 | -6.7% |
| Other operating charges | 640/8 | €4,283 | €1,814 | -€2,469 | -57.6% |
| Gross operating margin | 9900 | €43,367 | €100,576 | +€57,210 | +132% |
| Operating profit (loss) | 9901 | €15,161 | €76,444 | +€61,283 | +404% |
| Financial income | 75/76B | €5,083 | €6,614 | +€1,531 | +30.1% |
| Recurring financial income | 75 | €5,083 | €6,614 | +€1,531 | +30.1% |
| Financial charges | 65/66B | €11,481 | €22,757 | +€11,276 | +98.2% |
| Recurring financial charges | 65 | €11,481 | €22,757 | +€11,276 | +98.2% |
| Profit (loss) for the period before taxes | 9903 | €8,763 | €60,301 | +€51,538 | +588% |
| Transfer from deferred taxes | 780 | €1,043 | €1,043 | = | 0.0% |
| Income taxes | 67/77 | €3,647 | €17,820 | +€14,173 | +389% |
| Profit (loss) for the period | 9904 | €6,159 | €43,525 | +€37,365 | +607% |
| Transfer from tax-exempt reserves | 789 | €2,026 | €2,026 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,185 | €45,550 | +€37,365 | +457% |
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 14 October 2026 via checked.be.