MvanM: 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.
MvanM
Largest movements
- Cash +€42,919
up €42,919 (+58.3%), from €73,622 to €116,541
mainly Net result for the year (+€21,906) and Depreciation (+€12,238)
- Tangible fixed assets -€7,638
down €7,638 (-32.5%), from €23,508 to €15,869
of which Furniture and vehicles: -€4,474
- Receivables within one year -€7,064
down €7,064 (-56.9%), from €12,410 to €5,346
of which Other amounts receivable: -€8,151
- Reserves +€20,739
up €20,739 (+22.4%), from €92,605 to €113,344
- Tax, wage and social debts +€4,362
up €4,362 (+368%), from €1,185 to €5,547
- Trade debts +€2,397
up €2,397 (+125%), from €1,916 to €4,313
- Other debts +€1,658
up €1,658 (+129%), from €1,285 to €2,943
- Gross operating margin +€15,609
up €15,609 (+49.5%), from €31,502 to €47,111
- Taxes +€8,342
up €8,342 (+254%), from €3,290 to €11,631
- Depreciation -€6,140
down €6,140 (-33.4%), from €18,378 to €12,238
- Other operating charges -€3,877
down €3,877 (-75.9%), from €5,110 to €1,234
- Financial charges -€730
down €730 (-73.8%), from €990 to €260
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 | €109,660 | €138,547 | +€28,887 | +26.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €23,508 | €15,869 | -€7,638 | -32.5% |
| Tangible fixed assets | 22/27 | €23,508 | €15,869 | -€7,638 | -32.5% |
| Plant, machinery and equipment | 23 | €5,267 | €2,102 | -€3,165 | -60.1% |
| Furniture and vehicles | 24 | €18,241 | €13,767 | -€4,474 | -24.5% |
| Current assets | 29/58 | €86,153 | €122,678 | +€36,525 | +42.4% |
| Amounts receivable within one year | 40/41 | €12,410 | €5,346 | -€7,064 | -56.9% |
| Trade receivables | 40 | €3,880 | €4,968 | +€1,088 | +28.0% |
| Other amounts receivable | 41 | €8,530 | €378 | -€8,151 | -95.6% |
| Cash at bank and in hand | 54/58 | €73,622 | €116,541 | +€42,919 | +58.3% |
| Deferred charges and accrued income | 490/1 | €121 | €791 | +€669 | +553% |
| Total equity and liabilities | 10/49 | €109,660 | €138,547 | +€28,887 | +26.3% |
| Equity | 10/15 | €105,275 | €125,744 | +€20,470 | +19.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €92,605 | €113,344 | +€20,739 | +22.4% |
| Distributable reserves | 133 | €92,605 | €113,344 | +€20,739 | +22.4% |
| Profit (loss) carried forward | 14 | €270 | €0 | -€269 | -99.9% |
| Amounts payable | 17/49 | €4,386 | €12,803 | +€8,417 | +192% |
| Amounts payable within one year | 42/48 | €4,386 | €12,803 | +€8,417 | +192% |
| Trade debts | 44 | €1,916 | €4,313 | +€2,397 | +125% |
| Suppliers | 440/4 | €1,916 | €4,313 | +€2,397 | +125% |
| Taxes, remuneration and social security | 45 | €1,185 | €5,547 | +€4,362 | +368% |
| Taxes | 450/3 | €1,185 | €5,547 | +€4,362 | +368% |
| Other amounts payable | 47/48 | €1,285 | €2,943 | +€1,658 | +129% |
| Remuneration, social security and pensions | 62 | €599 | €426 | -€173 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,378 | €12,238 | -€6,140 | -33.4% |
| Other operating charges | 640/8 | €5,110 | €1,234 | -€3,877 | -75.9% |
| Non-recurring operating charges | 66A | €829 | - | -€829 | |
| Gross operating margin | 9900 | €31,502 | €47,111 | +€15,609 | +49.5% |
| Operating profit (loss) | 9901 | €6,585 | €33,213 | +€26,627 | +404% |
| Financial income | 75/76B | €603 | €584 | -€18 | -3.0% |
| Recurring financial income | 75 | €603 | €584 | -€18 | -3.0% |
| Financial charges | 65/66B | €990 | €260 | -€730 | -73.8% |
| Recurring financial charges | 65 | €990 | €260 | -€730 | -73.8% |
| Profit (loss) for the period before taxes | 9903 | €6,199 | €33,538 | +€27,339 | +441% |
| Income taxes | 67/77 | €3,290 | €11,631 | +€8,342 | +254% |
| Profit (loss) for the period | 9904 | €2,909 | €21,906 | +€18,998 | +653% |
| Profit (loss) for the period to be appropriated | 9905 | €2,909 | €21,906 | +€18,998 | +653% |
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 15 October 2026 via checked.be.