MVB PROJECTS: 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 PROJECTS
Largest movements
- Cash -€14,273
down €14,273 (-64.7%), from €22,058 to €7,785
mainly Investment in fixed assets (net) (-€77,498) and Other debts (-€50,645)
- Tangible fixed assets +€14,053
up €14,053 (+1.5%), from €921,369 to €935,421
of which Furniture and vehicles: +€49,704
- Reserves +€125,538
up €125,538 (+42.6%), from €294,510 to €420,048
- Other debts -€50,645
down €50,645 (-9.2%), from €549,426 to €498,781
- Trade debts -€50,123
down €50,123 (-85.9%), from €58,318 to €8,195
- Tax, wage and social debts -€28,715
down €28,715 (-75.8%), from €37,870 to €9,156
- Debts after one year +€20,830
up €20,830 (+5.5%), from €381,128 to €401,958
- Gross operating margin -€196,009
down €196,009 (-44.2%), from €443,311 to €247,301
- Depreciation -€72,326
down €72,326 (-57.5%), from €125,771 to €53,445
- Taxes -€39,267
down €39,267 (-52.8%), from €74,384 to €35,117
- Financial charges +€16,671
up €16,671 (+174.8%), from €9,536 to €26,206
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 | €1,364,302 | €1,388,497 | +€24,195 | +1.8% |
| Fixed assets | 21/28 | €942,369 | €966,421 | +€24,053 | +2.6% |
| Tangible fixed assets | 22/27 | €921,369 | €935,421 | +€14,053 | +1.5% |
| Land and buildings | 22 | €916,157 | €880,506 | -€35,651 | -3.9% |
| Furniture and vehicles | 24 | €5,212 | €54,916 | +€49,704 | +953.6% |
| Financial fixed assets | 28 | €21,000 | €31,000 | +€10,000 | +47.6% |
| Current assets | 29/58 | €421,933 | €422,076 | +€142 | 0.0% |
| Stocks and contracts in progress | 3 | €17,000 | €17,000 | = | 0.0% |
| Stocks | 30/36 | €17,000 | €17,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €380,911 | €393,399 | +€12,488 | +3.3% |
| Trade receivables | 40 | €75,911 | €19,844 | -€56,067 | -73.9% |
| Other amounts receivable | 41 | €305,000 | €373,555 | +€68,555 | +22.5% |
| Cash at bank and in hand | 54/58 | €22,058 | €7,785 | -€14,273 | -64.7% |
| Deferred charges and accrued income | 490/1 | €1,964 | €3,891 | +€1,927 | +98.1% |
| Total equity and liabilities | 10/49 | €1,364,302 | €1,388,497 | +€24,195 | +1.8% |
| Equity | 10/15 | €313,110 | €438,648 | +€125,538 | +40.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €294,510 | €420,048 | +€125,538 | +42.6% |
| Distributable reserves | 133 | €294,510 | €420,048 | +€125,538 | +42.6% |
| Amounts payable | 17/49 | €1,051,192 | €949,849 | -€101,343 | -9.6% |
| Amounts payable after more than one year | 17 | €381,128 | €401,958 | +€20,830 | +5.5% |
| Financial debts | 170/4 | €381,128 | €401,958 | +€20,830 | +5.5% |
| Amounts payable within one year | 42/48 | €670,064 | €547,891 | -€122,173 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €18,450 | €31,760 | +€13,310 | +72.1% |
| Financial debts | 43 | €6,000 | - | -€6,000 | |
| Credit institutions | 430/8 | €6,000 | - | -€6,000 | |
| Trade debts | 44 | €58,318 | €8,195 | -€50,123 | -85.9% |
| Suppliers | 440/4 | €58,318 | €8,195 | -€50,123 | -85.9% |
| Taxes, remuneration and social security | 45 | €37,870 | €9,156 | -€28,715 | -75.8% |
| Taxes | 450/3 | €37,870 | €9,156 | -€28,715 | -75.8% |
| Other amounts payable | 47/48 | €549,426 | €498,781 | -€50,645 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,771 | €53,445 | -€72,326 | -57.5% |
| Other operating charges | 640/8 | €6,231 | €6,995 | +€763 | +12.3% |
| Gross operating margin | 9900 | €443,311 | €247,301 | -€196,009 | -44.2% |
| Operating profit (loss) | 9901 | €311,308 | €186,861 | -€124,447 | -40.0% |
| Financial income | 75/76B | €4,032 | - | -€4,032 | |
| Recurring financial income | 75 | €4,032 | - | -€4,032 | |
| Financial charges | 65/66B | €9,536 | €26,206 | +€16,671 | +174.8% |
| Recurring financial charges | 65 | €9,536 | €26,206 | +€16,671 | +174.8% |
| Profit (loss) for the period before taxes | 9903 | €305,804 | €160,655 | -€145,149 | -47.5% |
| Income taxes | 67/77 | €74,384 | €35,117 | -€39,267 | -52.8% |
| Profit (loss) for the period | 9904 | €231,420 | €125,538 | -€105,882 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €231,420 | €125,538 | -€105,882 | -45.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.