MV CONCEPT: 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 CONCEPT
Largest movements
- Intangible fixed assets -€15,000
down €15,000 (-11.8%), from €127,438 to €112,438
- Cash -€7,852
down €7,852 (-12.9%), from €60,749 to €52,897
mainly Trade debts (-€55,708) and Current portion of long-term debt (-€20,451)
- Receivables within one year -€7,295
down €7,295 (-19.9%), from €36,728 to €29,433
of which Other amounts receivable: -€5,913
- Tangible fixed assets +€2,876
up €2,876 (+112.8%), from €2,550 to €5,426
of which Other tangible fixed assets: +€3,537
- Trade debts -€55,708
down €55,708 (-49.4%), from €112,851 to €57,143
- Reserves +€46,201
up €46,201 (+65.7%), from €70,293 to €116,494
- Current portion of long-term debt -€20,451
no longer reported in 2025 (was €20,451)
- Staff costs +€8,485
up €8,485 (+511.8%), from €1,658 to €10,143
- Gross operating margin -€6,431
down €6,431 (-6.6%), from €97,438 to €91,007
- Taxes -€3,254
down €3,254 (-16.7%), from €19,449 to €16,195
- Financial income -€2,557
down €2,557 (-44.7%), from €5,723 to €3,166
- Financial charges -€990
down €990 (-22.4%), from €4,410 to €3,420
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 | €228,408 | €201,295 | -€27,113 | -11.9% |
| Fixed assets | 21/28 | €129,988 | €117,864 | -€12,124 | -9.3% |
| Intangible fixed assets | 21 | €127,438 | €112,438 | -€15,000 | -11.8% |
| Tangible fixed assets | 22/27 | €2,550 | €5,426 | +€2,876 | +112.8% |
| Furniture and vehicles | 24 | €2,550 | €1,889 | -€661 | -25.9% |
| Other tangible fixed assets | 26 | - | €3,537 | +€3,537 | |
| Current assets | 29/58 | €98,420 | €83,431 | -€14,989 | -15.2% |
| Amounts receivable within one year | 40/41 | €36,728 | €29,433 | -€7,295 | -19.9% |
| Trade receivables | 40 | €29,695 | €28,313 | -€1,382 | -4.7% |
| Other amounts receivable | 41 | €7,033 | €1,120 | -€5,913 | -84.1% |
| Cash at bank and in hand | 54/58 | €60,749 | €52,897 | -€7,852 | -12.9% |
| Deferred charges and accrued income | 490/1 | €943 | €1,101 | +€158 | +16.8% |
| Total equity and liabilities | 10/49 | €228,408 | €201,295 | -€27,113 | -11.9% |
| Equity | 10/15 | €75,293 | €121,494 | +€46,201 | +61.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,293 | €116,494 | +€46,201 | +65.7% |
| Distributable reserves | 133 | €70,293 | €116,494 | +€46,201 | +65.7% |
| Amounts payable | 17/49 | €153,115 | €79,801 | -€73,314 | -47.9% |
| Amounts payable within one year | 42/48 | €153,115 | €79,801 | -€73,314 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €20,451 | - | -€20,451 | |
| Trade debts | 44 | €112,851 | €57,143 | -€55,708 | -49.4% |
| Suppliers | 440/4 | €112,851 | €57,143 | -€55,708 | -49.4% |
| Taxes, remuneration and social security | 45 | €19,768 | €21,776 | +€2,008 | +10.2% |
| Taxes | 450/3 | €19,448 | €20,505 | +€1,057 | +5.4% |
| Remuneration and social security | 454/9 | €320 | €1,271 | +€951 | +297.2% |
| Other amounts payable | 47/48 | €45 | €882 | +€837 | +1860.0% |
| Remuneration, social security and pensions | 62 | €1,658 | €10,143 | +€8,485 | +511.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,635 | €15,838 | +€203 | +1.3% |
| Other operating charges | 640/8 | €1,575 | €2,376 | +€801 | +50.9% |
| Gross operating margin | 9900 | €97,438 | €91,007 | -€6,431 | -6.6% |
| Operating profit (loss) | 9901 | €78,570 | €62,650 | -€15,920 | -20.3% |
| Financial income | 75/76B | €5,723 | €3,166 | -€2,557 | -44.7% |
| Recurring financial income | 75 | €5,723 | €3,166 | -€2,557 | -44.7% |
| Financial charges | 65/66B | €4,410 | €3,420 | -€990 | -22.4% |
| Recurring financial charges | 65 | €4,410 | €3,420 | -€990 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €79,883 | €62,396 | -€17,487 | -21.9% |
| Income taxes | 67/77 | €19,449 | €16,195 | -€3,254 | -16.7% |
| Profit (loss) for the period | 9904 | €60,434 | €46,201 | -€14,233 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,434 | €46,201 | -€14,233 | -23.6% |
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.