MVA Pharma: 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.
MVA Pharma
Largest movements
- Receivables within one year +€32,087
up €32,087 (+48.0%), from €66,855 to €98,943
of which Trade receivables: +€33,044
- Tangible fixed assets -€27,258
down €27,258 (-8.2%), from €331,268 to €304,010
of which Land and buildings: -€17,208
- Cash -€16,414
down €16,414 (-19.7%), from €83,112 to €66,698
mainly Debts after one year (-€36,868) and Receivables within one year (-€32,087)
- Stocks and contracts -€10,592
down €10,592 (-7.1%), from €148,909 to €138,317
- Intangible fixed assets +€9,238
new in 2025: €9,238
- Debts after one year -€36,868
down €36,868 (-20.3%), from €181,257 to €144,388
- Reserves +€15,230
up €15,230 (+10.8%), from €141,170 to €156,400
- Current portion of long-term debt -€12,054
down €12,054 (-23.3%), from €51,784 to €39,730
- Profit (loss) carried forward +€11,057
up €11,057 (+17.0%), from €65,154 to €76,211
- Other debts +€8,828
up €8,828 (+10.3%), from €85,957 to €94,785
- Gross operating margin +€23,501
up €23,501 (+9.7%), from €241,336 to €264,838
- Staff costs +€7,500
up €7,500 (+5.1%), from €147,071 to €154,571
- Taxes +€5,764
up €5,764 (+62.6%), from €9,212 to €14,976
- Financial income -€4,809
down €4,809 (-95.0%), from €5,062 to €253
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 | €633,669 | €621,644 | -€12,025 | -1.9% |
| Formation expenses | 20 | €369 | €0 | -€369 | -100.0% |
| Fixed assets | 21/28 | €331,268 | €313,248 | -€18,020 | -5.4% |
| Intangible fixed assets | 21 | - | €9,238 | +€9,238 | |
| Tangible fixed assets | 22/27 | €331,268 | €304,010 | -€27,258 | -8.2% |
| Land and buildings | 22 | €241,461 | €224,253 | -€17,208 | -7.1% |
| Plant, machinery and equipment | 23 | €78,301 | €74,689 | -€3,613 | -4.6% |
| Furniture and vehicles | 24 | €11,505 | €5,068 | -€6,437 | -55.9% |
| Current assets | 29/58 | €302,032 | €308,396 | +€6,364 | +2.1% |
| Stocks and contracts in progress | 3 | €148,909 | €138,317 | -€10,592 | -7.1% |
| Stocks | 30/36 | €148,909 | €138,317 | -€10,592 | -7.1% |
| Amounts receivable within one year | 40/41 | €66,855 | €98,943 | +€32,087 | +48.0% |
| Trade receivables | 40 | €65,899 | €98,943 | +€33,044 | +50.1% |
| Other amounts receivable | 41 | €957 | €0 | -€957 | -100.0% |
| Cash at bank and in hand | 54/58 | €83,112 | €66,698 | -€16,414 | -19.7% |
| Deferred charges and accrued income | 490/1 | €3,156 | €4,439 | +€1,283 | +40.6% |
| Total equity and liabilities | 10/49 | €633,669 | €621,644 | -€12,025 | -1.9% |
| Equity | 10/15 | €213,726 | €240,013 | +€26,287 | +12.3% |
| Contributions | 10/11 | €7,401 | €7,401 | = | 0.0% |
| Reserves | 13 | €141,170 | €156,400 | +€15,230 | +10.8% |
| Distributable reserves | 133 | €141,170 | €156,400 | +€15,230 | +10.8% |
| Profit (loss) carried forward | 14 | €65,154 | €76,211 | +€11,057 | +17.0% |
| Amounts payable | 17/49 | €419,943 | €381,632 | -€38,312 | -9.1% |
| Amounts payable after more than one year | 17 | €181,257 | €144,388 | -€36,868 | -20.3% |
| Financial debts | 170/4 | €181,257 | €144,388 | -€36,868 | -20.3% |
| Amounts payable within one year | 42/48 | €237,982 | €236,650 | -€1,332 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €51,784 | €39,730 | -€12,054 | -23.3% |
| Financial debts | 43 | €5,898 | €5,873 | -€25 | -0.4% |
| Credit institutions | 430/8 | €5,898 | €5,873 | -€25 | -0.4% |
| Trade debts | 44 | €57,580 | €61,002 | +€3,422 | +5.9% |
| Suppliers | 440/4 | €57,580 | €61,002 | +€3,422 | +5.9% |
| Taxes, remuneration and social security | 45 | €36,763 | €35,260 | -€1,503 | -4.1% |
| Taxes | 450/3 | €11,412 | €10,965 | -€446 | -3.9% |
| Remuneration and social security | 454/9 | €25,351 | €24,295 | -€1,057 | -4.2% |
| Other amounts payable | 47/48 | €85,957 | €94,785 | +€8,828 | +10.3% |
| Accrued charges and deferred income | 492/3 | €704 | €593 | -€111 | -15.8% |
| Remuneration, social security and pensions | 62 | €147,071 | €154,571 | +€7,500 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,218 | €40,625 | -€1,593 | -3.8% |
| Other operating charges | 640/8 | €3,209 | €3,130 | -€79 | -2.5% |
| Gross operating margin | 9900 | €241,336 | €264,838 | +€23,501 | +9.7% |
| Operating profit (loss) | 9901 | €48,838 | €66,511 | +€17,673 | +36.2% |
| Financial income | 75/76B | €5,062 | €253 | -€4,809 | -95.0% |
| Recurring financial income | 75 | €5,062 | €253 | -€4,809 | -95.0% |
| Financial charges | 65/66B | €16,987 | €15,732 | -€1,255 | -7.4% |
| Recurring financial charges | 65 | €16,987 | €15,732 | -€1,255 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €36,914 | €51,033 | +€14,119 | +38.2% |
| Income taxes | 67/77 | €9,212 | €14,976 | +€5,764 | +62.6% |
| Profit (loss) for the period | 9904 | €27,702 | €36,057 | +€8,355 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,702 | €36,057 | +€8,355 | +30.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.