MV-C: what changed
Two fiscal 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-C
Largest movements
- Receivables within one year +€200,768
up €200,768 (+81.5%), from €246,388 to €447,156
of which Other amounts receivable: +€149,509
- Stocks and contracts +€26,201
up €26,201 (+11.6%), from €225,488 to €251,689
- Tangible fixed assets -€18,156
down €18,156 (-22.6%), from €80,164 to €62,008
- Cash -€10,727
down €10,727 (-10.1%), from €105,892 to €95,165
mainly Receivables within one year (-€200,768) and Trade debts (-€84,369)
- Profit (loss) carried forward +€322,617
new in 2025: €322,617
- Trade debts -€84,369
down €84,369 (-99.9%), from €84,489 to €120
- Tax, wage and social debts -€41,137
down €41,137 (-24.6%), from €167,143 to €126,006
- Taxes -€36,819
down €36,819 (-26.5%), from €138,776 to €101,957
- Gross operating margin -€17,325
down €17,325 (-3.7%), from €462,073 to €444,748
- Depreciation +€6,871
up €6,871 (+60.9%), from €11,285 to €18,156
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 | €658,976 | €856,087 | +€197,111 | +29.9% |
| Fixed assets | 21/28 | €80,164 | €62,008 | -€18,156 | -22.6% |
| Tangible fixed assets | 22/27 | €80,164 | €62,008 | -€18,156 | -22.6% |
| Furniture and vehicles | 24 | €80,164 | €62,008 | -€18,156 | -22.6% |
| Current assets | 29/58 | €578,812 | €794,079 | +€215,267 | +37.2% |
| Stocks and contracts in progress | 3 | €225,488 | €251,689 | +€26,201 | +11.6% |
| Stocks | 30/36 | €225,488 | €251,689 | +€26,201 | +11.6% |
| Amounts receivable within one year | 40/41 | €246,388 | €447,156 | +€200,768 | +81.5% |
| Trade receivables | 40 | €46,388 | €97,647 | +€51,259 | +110.5% |
| Other amounts receivable | 41 | €200,000 | €349,509 | +€149,509 | +74.8% |
| Cash at bank and in hand | 54/58 | €105,892 | €95,165 | -€10,727 | -10.1% |
| Deferred charges and accrued income | 490/1 | €1,044 | €70 | -€975 | -93.3% |
| Total equity and liabilities | 10/49 | €658,976 | €856,087 | +€197,111 | +29.9% |
| Equity | 10/15 | €406,344 | €728,961 | +€322,617 | +79.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €405,344 | €405,344 | = | 0.0% |
| Distributable reserves | 133 | €405,344 | €405,344 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €322,617 | +€322,617 | |
| Amounts payable | 17/49 | €252,632 | €127,126 | -€125,506 | -49.7% |
| Amounts payable within one year | 42/48 | €252,632 | €127,126 | -€125,506 | -49.7% |
| Trade debts | 44 | €84,489 | €120 | -€84,369 | -99.9% |
| Suppliers | 440/4 | €84,489 | €120 | -€84,369 | -99.9% |
| Taxes, remuneration and social security | 45 | €167,143 | €126,006 | -€41,137 | -24.6% |
| Taxes | 450/3 | €167,143 | €126,006 | -€41,137 | -24.6% |
| Other amounts payable | 47/48 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,285 | €18,156 | +€6,871 | +60.9% |
| Other operating charges | 640/8 | €1,533 | €1,236 | -€296 | -19.3% |
| Gross operating margin | 9900 | €462,073 | €444,748 | -€17,325 | -3.7% |
| Operating profit (loss) | 9901 | €449,255 | €425,356 | -€23,899 | -5.3% |
| Financial charges | 65/66B | €43 | €782 | +€738 | +1703.9% |
| Recurring financial charges | 65 | €43 | €782 | +€738 | +1703.9% |
| Profit (loss) for the period before taxes | 9903 | €449,211 | €424,574 | -€24,638 | -5.5% |
| Income taxes | 67/77 | €138,776 | €101,957 | -€36,819 | -26.5% |
| Profit (loss) for the period | 9904 | €310,435 | €322,617 | +€12,182 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €310,435 | €322,617 | +€12,182 | +3.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.