MV INVEST: what changed
MV INVEST
Largest movements
- Tangible fixed assets +€158,510
up €158,510 (+159%), from €99,685 to €258,195
of which Land and buildings: +€204,305
- Receivables after one year +€91,000
up €91,000 (+125%), from €72,826 to €163,826
- Receivables within one year -€48,699
down €48,699 (-61.9%), from €78,611 to €29,912
of which Other amounts receivable: -€26,366
- Cash -€15,931
down €15,931 (-45.8%), from €34,795 to €18,864
mainly Investment in fixed assets (net) (-€177,072) and Receivables after one year (-€91,000)
- Debts after one year +€157,330
up €157,330 (+378%), from €41,663 to €198,994
- Reserves +€14,206
up €14,206 (+6.1%), from €232,265 to €246,470
of which Distributable reserves: +€14,206
- Current portion of long-term debt +€9,549
up €9,549 (+87.6%), from €10,897 to €20,445
- Tax, wage and social debts +€9,115
up €9,115 (+86.1%), from €10,586 to €19,700
of which Taxes: +€7,990
- Other operating charges -€6,627
down €6,627 (-79.1%), from €8,381 to €1,754
- Financial charges +€4,482
up €4,482 (+310%), from €1,447 to €5,928
- Taxes -€2,043
down €2,043 (-18.3%), from €11,152 to €9,109
- Gross operating margin -€1,889
down €1,889 (-3.0%), from €62,835 to €60,946
- Financial income -€926
down €926 (-100%), from €926 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,211 | €494,135 | +€184,924 | +59.8% |
| Fixed assets | 21/28 | €121,685 | €280,195 | +€158,510 | +130% |
| Tangible fixed assets | 22/27 | €99,685 | €258,195 | +€158,510 | +159% |
| Land and buildings | 22 | - | €204,305 | +€204,305 | |
| Plant, machinery and equipment | 23 | - | €674 | +€674 | |
| Furniture and vehicles | 24 | €94,905 | €53,216 | -€41,689 | -43.9% |
| Other tangible fixed assets | 26 | €4,780 | - | -€4,780 | |
| Financial fixed assets | 28 | €22,000 | €22,000 | = | 0.0% |
| Current assets | 29/58 | €187,526 | €213,940 | +€26,414 | +14.1% |
| Amounts receivable after more than one year | 29 | €72,826 | €163,826 | +€91,000 | +125% |
| Other amounts receivable | 291 | €72,826 | €163,826 | +€91,000 | +125% |
| Amounts receivable within one year | 40/41 | €78,611 | €29,912 | -€48,699 | -61.9% |
| Trade receivables | 40 | €49,664 | €27,331 | -€22,333 | -45.0% |
| Other amounts receivable | 41 | €28,947 | €2,581 | -€26,366 | -91.1% |
| Cash at bank and in hand | 54/58 | €34,795 | €18,864 | -€15,931 | -45.8% |
| Deferred charges and accrued income | 490/1 | €1,294 | €1,337 | +€44 | +3.4% |
| Total equity and liabilities | 10/49 | €309,211 | €494,135 | +€184,924 | +59.8% |
| Equity | 10/15 | €238,465 | €252,670 | +€14,206 | +6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €232,265 | €246,470 | +€14,206 | +6.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €232,265 | €246,470 | +€14,206 | +6.1% |
| Amounts payable | 17/49 | €70,746 | €241,464 | +€170,718 | +241% |
| Amounts payable after more than one year | 17 | €41,663 | €198,994 | +€157,330 | +378% |
| Financial debts | 170/4 | €41,663 | €198,994 | +€157,330 | +378% |
| Amounts payable within one year | 42/48 | €29,083 | €42,471 | +€13,388 | +46.0% |
| Current portion of amounts payable after more than one year | 42 | €10,897 | €20,445 | +€9,549 | +87.6% |
| Trade debts | 44 | €4,115 | €1,390 | -€2,725 | -66.2% |
| Suppliers | 440/4 | €4,115 | €1,390 | -€2,725 | -66.2% |
| Taxes, remuneration and social security | 45 | €10,586 | €19,700 | +€9,115 | +86.1% |
| Taxes | 450/3 | €10,586 | €18,575 | +€7,990 | +75.5% |
| Remuneration and social security | 454/9 | - | €1,125 | +€1,125 | |
| Other amounts payable | 47/48 | €3,486 | €935 | -€2,551 | -73.2% |
| Non-recurring operating income | 76A | €19,168 | €0 | -€19,168 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,183 | €18,562 | +€379 | +2.1% |
| Other operating charges | 640/8 | €8,381 | €1,754 | -€6,627 | -79.1% |
| Non-recurring operating charges | 66A | €765 | €11,387 | +€10,622 | +1,389% |
| Gross operating margin | 9900 | €62,835 | €60,946 | -€1,889 | -3.0% |
| Operating profit (loss) | 9901 | €35,506 | €29,243 | -€6,263 | -17.6% |
| Financial income | 75/76B | €926 | €0 | -€926 | -100% |
| Recurring financial income | 75 | €926 | €0 | -€926 | -100% |
| Financial charges | 65/66B | €1,447 | €5,928 | +€4,482 | +310% |
| Recurring financial charges | 65 | €1,447 | €5,928 | +€4,482 | +310% |
| Profit (loss) for the period before taxes | 9903 | €34,986 | €23,315 | -€11,671 | -33.4% |
| Income taxes | 67/77 | €11,152 | €9,109 | -€2,043 | -18.3% |
| Profit (loss) for the period | 9904 | €23,833 | €14,206 | -€9,628 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,833 | €14,206 | -€9,628 | -40.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.