MVB-ELEK: 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.
MVB-ELEK
Largest movements
- Stocks and contracts -€19,945
down €19,945 (-48.6%), from €41,080 to €21,135
- Tangible fixed assets -€15,182
down €15,182 (-67.2%), from €22,584 to €7,402
of which Furniture and vehicles: -€13,244
- Cash +€9,109
up €9,109 (+185%), from €4,916 to €14,025
mainly Stocks and contracts (+€19,945) and Other debts (+€12,195)
- Receivables within one year -€7,187
down €7,187 (-16.5%), from €43,682 to €36,495
of which Trade receivables: -€16,370
- Deferred charges and accrued income -€4,530
down €4,530 (-48.2%), from €9,403 to €4,874
- Trade debts -€27,338
down €27,338 (-51.7%), from €52,900 to €25,563
- Profit (loss) carried forward -€12,706
down €12,706 (-37.3%), from €34,103 to €21,397
- Other debts +€12,195
new in 2025: €12,195
- Tax, wage and social debts -€6,537
down €6,537 (-31.2%), from €20,970 to €14,433
of which Taxes: -€6,104
- Debts after one year -€2,650
no longer reported in 2025 (was €2,650)
- Gross operating margin -€16,594
down €16,594 (-15.1%), from €110,138 to €93,544
- Staff costs -€8,692
down €8,692 (-9.4%), from €92,956 to €84,264
- Depreciation -€7,140
down €7,140 (-69.8%), from €10,228 to €3,088
- Financial income +€3,455
up €3,455 (+3,824%), from €90 to €3,545
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 | €161,711 | €123,966 | -€37,745 | -23.3% |
| Fixed assets | 21/28 | €22,629 | €7,437 | -€15,192 | -67.1% |
| Intangible fixed assets | 21 | €46 | €36 | -€10 | -21.8% |
| Tangible fixed assets | 22/27 | €22,584 | €7,402 | -€15,182 | -67.2% |
| Plant, machinery and equipment | 23 | €6,281 | €4,343 | -€1,938 | -30.9% |
| Furniture and vehicles | 24 | €16,302 | €3,059 | -€13,244 | -81.2% |
| Current assets | 29/58 | €139,081 | €116,529 | -€22,553 | -16.2% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €41,080 | €21,135 | -€19,945 | -48.6% |
| Contracts in progress | 37 | €41,080 | €21,135 | -€19,945 | -48.6% |
| Amounts receivable within one year | 40/41 | €43,682 | €36,495 | -€7,187 | -16.5% |
| Trade receivables | 40 | €24,627 | €8,257 | -€16,370 | -66.5% |
| Other amounts receivable | 41 | €19,056 | €28,238 | +€9,182 | +48.2% |
| Cash at bank and in hand | 54/58 | €4,916 | €14,025 | +€9,109 | +185% |
| Deferred charges and accrued income | 490/1 | €9,403 | €4,874 | -€4,530 | -48.2% |
| Total equity and liabilities | 10/49 | €161,711 | €123,966 | -€37,745 | -23.3% |
| Equity | 10/15 | €81,543 | €68,837 | -€12,706 | -15.6% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €35,440 | €35,440 | = | 0.0% |
| Distributable reserves | 133 | €35,440 | €35,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,103 | €21,397 | -€12,706 | -37.3% |
| Amounts payable | 17/49 | €80,168 | €55,129 | -€25,038 | -31.2% |
| Amounts payable after more than one year | 17 | €2,650 | - | -€2,650 | |
| Financial debts | 170/4 | €2,650 | - | -€2,650 | |
| Amounts payable within one year | 42/48 | €77,518 | €55,129 | -€22,388 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €3,648 | €2,938 | -€710 | -19.5% |
| Trade debts | 44 | €52,900 | €25,563 | -€27,338 | -51.7% |
| Suppliers | 440/4 | €52,900 | €25,563 | -€27,338 | -51.7% |
| Taxes, remuneration and social security | 45 | €20,970 | €14,433 | -€6,537 | -31.2% |
| Taxes | 450/3 | €14,427 | €8,323 | -€6,104 | -42.3% |
| Remuneration and social security | 454/9 | €6,543 | €6,110 | -€433 | -6.6% |
| Other amounts payable | 47/48 | - | €12,195 | +€12,195 | |
| Non-recurring operating income | 76A | €7,574 | - | -€7,574 | |
| Remuneration, social security and pensions | 62 | €92,956 | €84,264 | -€8,692 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,228 | €3,088 | -€7,140 | -69.8% |
| Other operating charges | 640/8 | €739 | €1,678 | +€940 | +127% |
| Non-recurring operating charges | 66A | - | €1,938 | +€1,938 | |
| Gross operating margin | 9900 | €110,138 | €93,544 | -€16,594 | -15.1% |
| Operating profit (loss) | 9901 | €6,215 | €2,575 | -€3,640 | -58.6% |
| Financial income | 75/76B | €90 | €3,545 | +€3,455 | +3,824% |
| Recurring financial income | 75 | €90 | €3,545 | +€3,455 | +3,824% |
| Financial charges | 65/66B | €4,580 | €4,934 | +€354 | +7.7% |
| Recurring financial charges | 65 | €4,580 | €4,934 | +€354 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €1,725 | €1,186 | -€539 | -31.2% |
| Income taxes | 67/77 | €1,835 | €1,698 | -€137 | -7.5% |
| Profit (loss) for the period | 9904 | -€109 | -€511 | -€402 | -368% |
| Profit (loss) for the period to be appropriated | 9905 | -€109 | -€511 | -€402 | -368% |
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.