MV RENOVATION: what changed
MV RENOVATION
Largest movements
- Cash +€184,352
up €184,352 (+242%), from €76,115 to €260,467
mainly Receivables within one year (+€115,270) and Stocks and contracts (+€34,761)
- Receivables within one year -€115,270
down €115,270 (-46.4%), from €248,292 to €133,022
of which Trade receivables: -€95,384
- Stocks and contracts -€34,761
no longer reported in 2025 (was €34,761)
- Deferred charges and accrued income -€10,900
down €10,900 (-60.3%), from €18,065 to €7,165
- Tangible fixed assets -€9,496
down €9,496 (-8.2%), from €115,438 to €105,942
of which Land and buildings: -€8,148
- Debts after one year -€12,174
down €12,174 (-13.5%), from €90,290 to €78,116
- Profit (loss) carried forward +€11,258
up €11,258 (+9.7%), from €116,454 to €127,712
- Tax, wage and social debts +€6,789
up €6,789 (+28.2%), from €24,078 to €30,867
of which Remuneration and social security: +€3,759
- Gross operating margin -€52,229
down €52,229 (-17.9%), from €291,425 to €239,196
- Staff costs -€16,229
down €16,229 (-7.3%), from €223,671 to €207,442
- Taxes +€7,415
up €7,415, from -€4,600 to €2,815
- Financial charges -€5,945
down €5,945 (-71.8%), from €8,275 to €2,330
- Other operating charges +€4,480
up €4,480 (+326%), from €1,375 to €5,855
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 | €493,696 | €507,621 | +€13,925 | +2.8% |
| Fixed assets | 21/28 | €116,463 | €106,967 | -€9,496 | -8.2% |
| Tangible fixed assets | 22/27 | €115,438 | €105,942 | -€9,496 | -8.2% |
| Land and buildings | 22 | €113,914 | €105,766 | -€8,148 | -7.2% |
| Plant, machinery and equipment | 23 | €809 | €176 | -€633 | -78.2% |
| Furniture and vehicles | 24 | €715 | - | -€715 | |
| Financial fixed assets | 28 | €1,025 | €1,025 | = | 0.0% |
| Current assets | 29/58 | €377,233 | €400,654 | +€23,421 | +6.2% |
| Stocks and contracts in progress | 3 | €34,761 | - | -€34,761 | |
| Stocks | 30/36 | €34,761 | - | -€34,761 | |
| Amounts receivable within one year | 40/41 | €248,292 | €133,022 | -€115,270 | -46.4% |
| Trade receivables | 40 | €218,874 | €123,490 | -€95,384 | -43.6% |
| Other amounts receivable | 41 | €29,418 | €9,532 | -€19,886 | -67.6% |
| Cash at bank and in hand | 54/58 | €76,115 | €260,467 | +€184,352 | +242% |
| Deferred charges and accrued income | 490/1 | €18,065 | €7,165 | -€10,900 | -60.3% |
| Total equity and liabilities | 10/49 | €493,696 | €507,621 | +€13,925 | +2.8% |
| Equity | 10/15 | €348,004 | €359,262 | +€11,258 | +3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €225,350 | €225,350 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €204,740 | €204,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,454 | €127,712 | +€11,258 | +9.7% |
| Amounts payable | 17/49 | €145,692 | €148,359 | +€2,667 | +1.8% |
| Amounts payable after more than one year | 17 | €90,290 | €78,116 | -€12,174 | -13.5% |
| Financial debts | 170/4 | €90,290 | €78,116 | -€12,174 | -13.5% |
| Amounts payable within one year | 42/48 | €55,402 | €70,243 | +€14,841 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €12,174 | €12,174 | = | 0.0% |
| Trade debts | 44 | - | €4,868 | +€4,868 | |
| Suppliers | 440/4 | - | €4,868 | +€4,868 | |
| Taxes, remuneration and social security | 45 | €24,078 | €30,867 | +€6,789 | +28.2% |
| Taxes | 450/3 | €19,920 | €22,950 | +€3,030 | +15.2% |
| Remuneration and social security | 454/9 | €4,158 | €7,917 | +€3,759 | +90.4% |
| Other amounts payable | 47/48 | €19,150 | €22,334 | +€3,184 | +16.6% |
| Remuneration, social security and pensions | 62 | €223,671 | €207,442 | -€16,229 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,686 | €9,496 | -€190 | -2.0% |
| Other operating charges | 640/8 | €1,375 | €5,855 | +€4,480 | +326% |
| Gross operating margin | 9900 | €291,425 | €239,196 | -€52,229 | -17.9% |
| Operating profit (loss) | 9901 | €56,693 | €16,403 | -€40,290 | -71.1% |
| Financial charges | 65/66B | €8,275 | €2,330 | -€5,945 | -71.8% |
| Recurring financial charges | 65 | €8,275 | €2,330 | -€5,945 | -71.8% |
| Profit (loss) for the period before taxes | 9903 | €48,418 | €14,073 | -€34,345 | -70.9% |
| Income taxes | 67/77 | -€4,600 | €2,815 | +€7,415 | |
| Profit (loss) for the period | 9904 | €53,018 | €11,258 | -€41,760 | -78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,018 | €11,258 | -€41,760 | -78.8% |
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 3 November 2026 via checked.be.