MV-CO: 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-CO
Largest movements
- Cash +€47,484
up €47,484 (+131.2%), from €36,204 to €83,688
mainly Net result for the year (+€48,830) and Receivables within one year (+€11,791)
- Receivables within one year -€11,791
down €11,791 (-7.7%), from €152,194 to €140,403
of which Trade receivables: -€13,954
- Tangible fixed assets -€10,216
down €10,216 (-100.0%), from €10,216 to €0
of which Furniture and vehicles: -€10,038
- Reserves +€48,830
up €48,830 (+14.6%), from €333,320 to €382,150
- Other debts -€23,095
down €23,095 (-22.3%), from €103,445 to €80,350
- Debts after one year -€10,325
down €10,325 (-79.8%), from €12,937 to €2,611
- Tax, wage and social debts +€9,413
up €9,413 (+66.5%), from €14,162 to €23,574
- Depreciation -€4,684
down €4,684 (-31.4%), from €14,900 to €10,216
- Taxes +€2,794
up €2,794 (+13.2%), from €21,110 to €23,904
- Financial charges -€2,775
down €2,775 (-30.1%), from €9,218 to €6,443
- Gross operating margin +€2,524
up €2,524 (+3.0%), from €85,360 to €87,884
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 | €574,916 | €600,467 | +€25,550 | +4.4% |
| Fixed assets | 21/28 | €385,216 | €375,000 | -€10,216 | -2.7% |
| Tangible fixed assets | 22/27 | €10,216 | €0 | -€10,216 | -100.0% |
| Plant, machinery and equipment | 23 | €179 | €0 | -€179 | -100.0% |
| Furniture and vehicles | 24 | €10,038 | €0 | -€10,038 | -100.0% |
| Financial fixed assets | 28 | €375,000 | €375,000 | = | 0.0% |
| Current assets | 29/58 | €189,700 | €225,467 | +€35,767 | +18.9% |
| Amounts receivable within one year | 40/41 | €152,194 | €140,403 | -€11,791 | -7.7% |
| Trade receivables | 40 | €43,864 | €29,910 | -€13,954 | -31.8% |
| Other amounts receivable | 41 | €108,330 | €110,492 | +€2,163 | +2.0% |
| Cash at bank and in hand | 54/58 | €36,204 | €83,688 | +€47,484 | +131.2% |
| Deferred charges and accrued income | 490/1 | €1,302 | €1,376 | +€74 | +5.7% |
| Total equity and liabilities | 10/49 | €574,916 | €600,467 | +€25,550 | +4.4% |
| Equity | 10/15 | €433,320 | €482,150 | +€48,830 | +11.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €333,320 | €382,150 | +€48,830 | +14.6% |
| Distributable reserves | 133 | €333,320 | €382,150 | +€48,830 | +14.6% |
| Amounts payable | 17/49 | €141,596 | €118,317 | -€23,279 | -16.4% |
| Amounts payable after more than one year | 17 | €12,937 | €2,611 | -€10,325 | -79.8% |
| Financial debts | 170/4 | €12,937 | €2,611 | -€10,325 | -79.8% |
| Amounts payable within one year | 42/48 | €128,660 | €115,705 | -€12,954 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €10,136 | €10,325 | +€189 | +1.9% |
| Trade debts | 44 | €917 | €1,456 | +€539 | +58.8% |
| Suppliers | 440/4 | €917 | €1,456 | +€539 | +58.8% |
| Taxes, remuneration and social security | 45 | €14,162 | €23,574 | +€9,413 | +66.5% |
| Taxes | 450/3 | €14,162 | €23,574 | +€9,413 | +66.5% |
| Other amounts payable | 47/48 | €103,445 | €80,350 | -€23,095 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,900 | €10,216 | -€4,684 | -31.4% |
| Other operating charges | 640/8 | €387 | €654 | +€266 | +68.8% |
| Gross operating margin | 9900 | €85,360 | €87,884 | +€2,524 | +3.0% |
| Operating profit (loss) | 9901 | €70,072 | €77,014 | +€6,942 | +9.9% |
| Financial income | 75/76B | €2,145 | €2,163 | +€18 | +0.8% |
| Recurring financial income | 75 | €2,145 | €2,163 | +€18 | +0.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €9,218 | €6,443 | -€2,775 | -30.1% |
| Recurring financial charges | 65 | €9,218 | €6,443 | -€2,775 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €62,999 | €72,733 | +€9,734 | +15.5% |
| Income taxes | 67/77 | €21,110 | €23,904 | +€2,794 | +13.2% |
| Profit (loss) for the period | 9904 | €41,889 | €48,830 | +€6,941 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,889 | €48,830 | +€6,941 | +16.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.