MV - ELEC TELECOM: 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 - ELEC TELECOM
Largest movements
- Receivables within one year +€45,451
new in 2025: €45,451
of which Other amounts receivable: +€34,543
- Tangible fixed assets -€12,194
down €12,194 (-37.9%), from €32,202 to €20,007
- Cash -€5,620
down €5,620 (-14.8%), from €38,008 to €32,389
mainly Receivables within one year (-€45,451) and Other debts (-€26,165)
- Profit (loss) carried forward +€51,780
up €51,780 (+246%), from €21,068 to €72,848
- Other debts -€26,165
no longer reported in 2025 (was €26,165)
- Trade debts +€2,125
up €2,125 (+161%), from €1,320 to €3,445
- Gross operating margin +€52,577
up €52,577 (+191%), from €27,491 to €80,068
- Taxes +€10,941
up €10,941 (+274%), from €3,994 to €14,935
- Depreciation -€1,682
down €1,682 (-12.1%), from €13,876 to €12,194
- Other operating charges -€822
down €822 (-46.0%), from €1,786 to €964
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 | €71,086 | €98,594 | +€27,508 | +38.7% |
| Fixed assets | 21/28 | €32,202 | €20,007 | -€12,194 | -37.9% |
| Tangible fixed assets | 22/27 | €32,202 | €20,007 | -€12,194 | -37.9% |
| Furniture and vehicles | 24 | €32,202 | €20,007 | -€12,194 | -37.9% |
| Current assets | 29/58 | €38,885 | €78,587 | +€39,702 | +102% |
| Amounts receivable within one year | 40/41 | - | €45,451 | +€45,451 | |
| Trade receivables | 40 | - | €10,907 | +€10,907 | |
| Other amounts receivable | 41 | - | €34,543 | +€34,543 | |
| Cash at bank and in hand | 54/58 | €38,008 | €32,389 | -€5,620 | -14.8% |
| Deferred charges and accrued income | 490/1 | €876 | €747 | -€129 | -14.7% |
| Total equity and liabilities | 10/49 | €71,086 | €98,594 | +€27,508 | +38.7% |
| Equity | 10/15 | €24,068 | €75,848 | +€51,780 | +215% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,068 | €72,848 | +€51,780 | +246% |
| Amounts payable | 17/49 | €47,018 | €22,746 | -€24,272 | -51.6% |
| Amounts payable within one year | 42/48 | €47,018 | €22,746 | -€24,272 | -51.6% |
| Trade debts | 44 | €1,320 | €3,445 | +€2,125 | +161% |
| Suppliers | 440/4 | €1,320 | €3,445 | +€2,125 | +161% |
| Taxes, remuneration and social security | 45 | €19,533 | €19,300 | -€233 | -1.2% |
| Taxes | 450/3 | €19,533 | €19,300 | -€233 | -1.2% |
| Other amounts payable | 47/48 | €26,165 | - | -€26,165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,876 | €12,194 | -€1,682 | -12.1% |
| Other operating charges | 640/8 | €1,786 | €964 | -€822 | -46.0% |
| Gross operating margin | 9900 | €27,491 | €80,068 | +€52,577 | +191% |
| Operating profit (loss) | 9901 | €11,828 | €66,910 | +€55,081 | +466% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €242 | €203 | -€39 | -16.0% |
| Recurring financial charges | 65 | €242 | €203 | -€39 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €11,586 | €66,715 | +€55,128 | +476% |
| Income taxes | 67/77 | €3,994 | €14,935 | +€10,941 | +274% |
| Profit (loss) for the period | 9904 | €7,593 | €51,780 | +€44,187 | +582% |
| Profit (loss) for the period to be appropriated | 9905 | €7,593 | €51,780 | +€44,187 | +582% |
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 23 October 2026 via checked.be.