MV W-are: 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 W-are
Largest movements
- Cash +€25,980
up €25,980 (+111%), from €23,418 to €49,398
mainly Net result for the year (+€22,278) and Receivables within one year (+€17,371)
- Receivables within one year -€17,371
down €17,371 (-51.8%), from €33,552 to €16,181
of which Trade receivables: -€17,371
- Tangible fixed assets +€3,022
up €3,022 (+23.3%), from €12,958 to €15,980
of which Other tangible fixed assets: +€3,707
- Reserves +€22,278
up €22,278 (+49.8%), from €44,760 to €67,038
- Tax, wage and social debts -€12,692
down €12,692 (-62.0%), from €20,455 to €7,763
- Trade debts +€3,175
up €3,175 (+115%), from €2,766 to €5,941
- Accrued charges and deferred income -€894
down €894 (-100%), from €894 to €0
- Gross operating margin -€9,982
down €9,982 (-20.5%), from €48,598 to €38,616
- Taxes -€2,280
down €2,280 (-21.4%), from €10,658 to €8,377
- Staff costs -€1,889
down €1,889 (-29.0%), from €6,516 to €4,626
- Financial charges -€728
down €728 (-34.0%), from €2,140 to €1,412
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 | €72,948 | €84,762 | +€11,814 | +16.2% |
| Fixed assets | 21/28 | €12,958 | €15,980 | +€3,022 | +23.3% |
| Tangible fixed assets | 22/27 | €12,958 | €15,980 | +€3,022 | +23.3% |
| Plant, machinery and equipment | 23 | €3,620 | €2,934 | -€685 | -18.9% |
| Other tangible fixed assets | 26 | €9,338 | €13,046 | +€3,707 | +39.7% |
| Current assets | 29/58 | €59,990 | €68,782 | +€8,793 | +14.7% |
| Amounts receivable within one year | 40/41 | €33,552 | €16,181 | -€17,371 | -51.8% |
| Trade receivables | 40 | €32,798 | €15,428 | -€17,371 | -53.0% |
| Other amounts receivable | 41 | €753 | €753 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,418 | €49,398 | +€25,980 | +111% |
| Deferred charges and accrued income | 490/1 | €3,020 | €3,203 | +€183 | +6.1% |
| Total equity and liabilities | 10/49 | €72,948 | €84,762 | +€11,814 | +16.2% |
| Equity | 10/15 | €45,760 | €68,038 | +€22,278 | +48.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €44,760 | €67,038 | +€22,278 | +49.8% |
| Distributable reserves | 133 | €44,760 | €67,038 | +€22,278 | +49.8% |
| Amounts payable | 17/49 | €27,187 | €16,724 | -€10,464 | -38.5% |
| Amounts payable within one year | 42/48 | €26,294 | €16,724 | -€9,570 | -36.4% |
| Trade debts | 44 | €2,766 | €5,941 | +€3,175 | +115% |
| Suppliers | 440/4 | €2,766 | €5,941 | +€3,175 | +115% |
| Taxes, remuneration and social security | 45 | €20,455 | €7,763 | -€12,692 | -62.0% |
| Taxes | 450/3 | €20,455 | €7,763 | -€12,692 | -62.0% |
| Other amounts payable | 47/48 | €3,073 | €3,020 | -€53 | -1.7% |
| Accrued charges and deferred income | 492/3 | €894 | €0 | -€894 | -100% |
| Remuneration, social security and pensions | 62 | €6,516 | €4,626 | -€1,889 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,652 | €1,804 | +€152 | +9.2% |
| Other operating charges | 640/8 | €309 | €183 | -€126 | -40.7% |
| Gross operating margin | 9900 | €48,598 | €38,616 | -€9,982 | -20.5% |
| Operating profit (loss) | 9901 | €40,121 | €32,002 | -€8,119 | -20.2% |
| Financial income | 75/76B | €4 | €66 | +€61 | +1,384% |
| Recurring financial income | 75 | €4 | €66 | +€61 | +1,384% |
| Financial charges | 65/66B | €2,140 | €1,412 | -€728 | -34.0% |
| Recurring financial charges | 65 | €2,140 | €1,412 | -€728 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €37,986 | €30,656 | -€7,330 | -19.3% |
| Income taxes | 67/77 | €10,658 | €8,377 | -€2,280 | -21.4% |
| Profit (loss) for the period | 9904 | €27,328 | €22,278 | -€5,050 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,328 | €22,278 | -€5,050 | -18.5% |
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 25 October 2026 via checked.be.