MV-TECH: 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-TECH
Largest movements
- Stocks and contracts +€64,239
up €64,239 (+9.9%), from €648,069 to €712,308
of which Contracts in progress: +€74,560
- Deferred charges and accrued income +€30,724
new in 2025: €30,724
- Receivables within one year +€26,303
up €26,303 (+5.1%), from €518,724 to €545,027
of which Trade receivables: +€26,859
- Cash +€14,455
new in 2025: €14,455
mainly Trade debts (+€92,050) and Other debts (+€62,175)
- Trade debts +€92,050
up €92,050 (+12.5%), from €736,434 to €828,485
- Other debts +€62,175
up €62,175 (+1001.3%), from €6,210 to €68,384
- Reserves +€50,961
up €50,961 (+43.9%), from €116,135 to €167,097
- Current portion of long-term debt -€35,874
down €35,874 (-74.2%), from €48,340 to €12,466
- Short-term financial debts -€23,274
down €23,274 (-11.7%), from €198,274 to €175,000
- Staff costs +€133,712
up €133,712 (+50.3%), from €265,728 to €399,439
- Gross operating margin +€95,518
up €95,518 (+21.5%), from €443,977 to €539,495
- Other operating charges -€74,232
down €74,232 (-90.1%), from €82,384 to €8,153
- Write-downs +€10,298
new in 2025: €10,298
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 | €1,215,724 | €1,344,367 | +€128,643 | +10.6% |
| Fixed assets | 21/28 | €48,932 | €41,854 | -€7,078 | -14.5% |
| Tangible fixed assets | 22/27 | €48,797 | €41,584 | -€7,213 | -14.8% |
| Land and buildings | 22 | €25,661 | €22,122 | -€3,539 | -13.8% |
| Plant, machinery and equipment | 23 | €22,909 | €346 | -€22,563 | -98.5% |
| Furniture and vehicles | 24 | €227 | €19,117 | +€18,890 | +8317.0% |
| Financial fixed assets | 28 | €135 | €270 | +€135 | +100.0% |
| Current assets | 29/58 | €1,166,792 | €1,302,513 | +€135,721 | +11.6% |
| Stocks and contracts in progress | 3 | €648,069 | €712,308 | +€64,239 | +9.9% |
| Stocks | 30/36 | €648,069 | €637,747 | -€10,322 | -1.6% |
| Contracts in progress | 37 | - | €74,560 | +€74,560 | |
| Amounts receivable within one year | 40/41 | €518,724 | €545,027 | +€26,303 | +5.1% |
| Trade receivables | 40 | €518,167 | €545,027 | +€26,859 | +5.2% |
| Other amounts receivable | 41 | €556 | - | -€556 | |
| Cash at bank and in hand | 54/58 | - | €14,455 | +€14,455 | |
| Deferred charges and accrued income | 490/1 | - | €30,724 | +€30,724 | |
| Total equity and liabilities | 10/49 | €1,215,724 | €1,344,367 | +€128,643 | +10.6% |
| Equity | 10/15 | €126,135 | €177,097 | +€50,961 | +40.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €116,135 | €167,097 | +€50,961 | +43.9% |
| Distributable reserves | 133 | €116,135 | €167,097 | +€50,961 | +43.9% |
| Amounts payable | 17/49 | €1,089,589 | €1,167,270 | +€77,681 | +7.1% |
| Amounts payable after more than one year | 17 | €12,466 | - | -€12,466 | |
| Financial debts | 170/4 | €12,466 | - | -€12,466 | |
| Amounts payable within one year | 42/48 | €1,061,123 | €1,161,718 | +€100,595 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €48,340 | €12,466 | -€35,874 | -74.2% |
| Financial debts | 43 | €198,274 | €175,000 | -€23,274 | -11.7% |
| Credit institutions | 430/8 | €198,274 | €175,000 | -€23,274 | -11.7% |
| Trade debts | 44 | €736,434 | €828,485 | +€92,050 | +12.5% |
| Suppliers | 440/4 | €736,434 | €828,485 | +€92,050 | +12.5% |
| Taxes, remuneration and social security | 45 | €71,866 | €77,383 | +€5,517 | +7.7% |
| Taxes | 450/3 | €33,643 | €44,381 | +€10,737 | +31.9% |
| Remuneration and social security | 454/9 | €38,223 | €33,003 | -€5,220 | -13.7% |
| Other amounts payable | 47/48 | €6,210 | €68,384 | +€62,175 | +1001.3% |
| Accrued charges and deferred income | 492/3 | €16,000 | €5,552 | -€10,448 | -65.3% |
| Remuneration, social security and pensions | 62 | €265,728 | €399,439 | +€133,712 | +50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,602 | €33,578 | +€4,976 | +17.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,298 | +€10,298 | |
| Other operating charges | 640/8 | €82,384 | €8,153 | -€74,232 | -90.1% |
| Gross operating margin | 9900 | €443,977 | €539,495 | +€95,518 | +21.5% |
| Operating profit (loss) | 9901 | €67,264 | €88,028 | +€20,764 | +30.9% |
| Financial income | 75/76B | €2,864 | €2,427 | -€437 | -15.3% |
| Recurring financial income | 75 | €2,864 | €2,427 | -€437 | -15.3% |
| Financial charges | 65/66B | €18,950 | €20,883 | +€1,933 | +10.2% |
| Recurring financial charges | 65 | €18,950 | €20,883 | +€1,933 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €51,177 | €69,572 | +€18,395 | +35.9% |
| Income taxes | 67/77 | €13,254 | €18,610 | +€5,356 | +40.4% |
| Profit (loss) for the period | 9904 | €37,922 | €50,961 | +€13,039 | +34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,922 | €50,961 | +€13,039 | +34.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.