MVBB: 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.
MVBB
Largest movements
- Tangible fixed assets +€62,342
up €62,342 (+98.4%), from €63,361 to €125,703
of which Land and buildings: +€83,561
- Deferred charges and accrued income -€7,740
down €7,740 (-83.4%), from €9,285 to €1,545
- Current investments -€6,557
down €6,557 (-9.9%), from €65,930 to €59,373
- Debts after one year +€63,522
up €63,522 (+214.3%), from €29,642 to €93,164
- Reserves -€34,794
down €34,794 (-8.6%), from €405,823 to €371,029
of which Distributable reserves: -€34,794
- Other debts +€14,524
up €14,524 (+16.4%), from €88,657 to €103,181
- Gross operating margin +€64,302
up €64,302 (+359.3%), from €17,899 to €82,201
- Financial income +€20,930
up €20,930 (+31.0%), from €67,578 to €88,508
- Taxes +€19,160
up €19,160 (+169.3%), from €11,314 to €30,474
- Depreciation +€8,015
up €8,015 (+129.7%), from €6,178 to €14,193
- Financial charges +€1,138
up €1,138 (+24.0%), from €4,746 to €5,885
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 | €558,188 | €604,385 | +€46,196 | +8.3% |
| Fixed assets | 21/28 | €478,078 | €540,420 | +€62,342 | +13.0% |
| Tangible fixed assets | 22/27 | €63,361 | €125,703 | +€62,342 | +98.4% |
| Land and buildings | 22 | €10,001 | €93,562 | +€83,561 | +835.5% |
| Plant, machinery and equipment | 23 | €12,250 | €21,301 | +€9,051 | +73.9% |
| Furniture and vehicles | 24 | €13,598 | €10,840 | -€2,758 | -20.3% |
| Assets under construction and advance payments | 27 | €27,512 | - | -€27,512 | |
| Financial fixed assets | 28 | €414,717 | €414,717 | = | 0.0% |
| Current assets | 29/58 | €80,110 | €63,964 | -€16,146 | -20.2% |
| Current investments | 50/53 | €65,930 | €59,373 | -€6,557 | -9.9% |
| Cash at bank and in hand | 54/58 | €4,895 | €3,046 | -€1,850 | -37.8% |
| Deferred charges and accrued income | 490/1 | €9,285 | €1,545 | -€7,740 | -83.4% |
| Total equity and liabilities | 10/49 | €558,188 | €604,385 | +€46,196 | +8.3% |
| Equity | 10/15 | €418,223 | €383,429 | -€34,794 | -8.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €405,823 | €371,029 | -€34,794 | -8.6% |
| Tax-exempt reserves | 132 | €7,080 | €7,080 | = | 0.0% |
| Distributable reserves | 133 | €398,744 | €363,949 | -€34,794 | -8.7% |
| Amounts payable | 17/49 | €139,965 | €220,955 | +€80,990 | +57.9% |
| Amounts payable after more than one year | 17 | €29,642 | €93,164 | +€63,522 | +214.3% |
| Financial debts | 170/4 | €29,642 | €93,164 | +€63,522 | +214.3% |
| Amounts payable within one year | 42/48 | €110,294 | €127,792 | +€17,497 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €11,219 | €11,652 | +€433 | +3.9% |
| Financial debts | 43 | - | €431 | +€431 | |
| Credit institutions | 430/8 | - | €431 | +€431 | |
| Trade debts | 44 | €2,388 | €2,587 | +€200 | +8.4% |
| Suppliers | 440/4 | €2,388 | €2,587 | +€200 | +8.4% |
| Taxes, remuneration and social security | 45 | €8,030 | €9,940 | +€1,909 | +23.8% |
| Taxes | 450/3 | €4,660 | €6,570 | +€1,909 | +41.0% |
| Remuneration and social security | 454/9 | €3,370 | €3,370 | = | 0.0% |
| Other amounts payable | 47/48 | €88,657 | €103,181 | +€14,524 | +16.4% |
| Accrued charges and deferred income | 492/3 | €28 | - | -€28 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,178 | €14,193 | +€8,015 | +129.7% |
| Other operating charges | 640/8 | €1,418 | €1,549 | +€132 | +9.3% |
| Gross operating margin | 9900 | €17,899 | €82,201 | +€64,302 | +359.3% |
| Operating profit (loss) | 9901 | €10,303 | €66,459 | +€56,156 | +545.0% |
| Financial income | 75/76B | €67,578 | €88,508 | +€20,930 | +31.0% |
| Recurring financial income | 75 | €67,578 | €88,508 | +€20,930 | +31.0% |
| Financial charges | 65/66B | €4,746 | €5,885 | +€1,138 | +24.0% |
| Recurring financial charges | 65 | €4,746 | €5,885 | +€1,138 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €73,135 | €149,082 | +€75,947 | +103.8% |
| Income taxes | 67/77 | €11,314 | €30,474 | +€19,160 | +169.3% |
| Profit (loss) for the period | 9904 | €61,821 | €118,608 | +€56,788 | +91.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,821 | €118,608 | +€56,788 | +91.9% |
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 6 October 2026 via checked.be.