MVBC: 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.
MVBC
Largest movements
- Cash +€160,694
up €160,694 (+110%), from €145,501 to €306,195
mainly Net result for the year (+€282,584) and Depreciation (+€35,456)
- Tangible fixed assets +€74,526
up €74,526 (+14.3%), from €522,701 to €597,227
of which Other tangible fixed assets: +€60,000
- Profit (loss) carried forward +€282,584
new in 2025: €282,584
- Debts after one year -€34,461
down €34,461 (-11.3%), from €304,322 to €269,862
- Other debts -€27,339
down €27,339 (-3.1%), from €883,909 to €856,571
- Gross operating margin +€61,007
up €61,007 (+16.4%), from €371,673 to €432,679
- Taxes +€21,031
up €21,031 (+26.7%), from €78,755 to €99,786
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 | €1,330,767 | €1,555,562 | +€224,795 | +16.9% |
| Fixed assets | 21/28 | €872,701 | €947,227 | +€74,526 | +8.5% |
| Tangible fixed assets | 22/27 | €522,701 | €597,227 | +€74,526 | +14.3% |
| Land and buildings | 22 | €442,614 | €430,708 | -€11,906 | -2.7% |
| Plant, machinery and equipment | 23 | €7,705 | €21,483 | +€13,778 | +179% |
| Furniture and vehicles | 24 | €72,382 | €85,036 | +€12,654 | +17.5% |
| Other tangible fixed assets | 26 | - | €60,000 | +€60,000 | |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €458,066 | €608,335 | +€150,269 | +32.8% |
| Amounts receivable within one year | 40/41 | €308,229 | €300,100 | -€8,129 | -2.6% |
| Trade receivables | 40 | €8,349 | - | -€8,349 | |
| Other amounts receivable | 41 | €299,880 | €300,100 | +€220 | +0.1% |
| Cash at bank and in hand | 54/58 | €145,501 | €306,195 | +€160,694 | +110% |
| Deferred charges and accrued income | 490/1 | €4,336 | €2,040 | -€2,297 | -53.0% |
| Total equity and liabilities | 10/49 | €1,330,767 | €1,555,562 | +€224,795 | +16.9% |
| Equity | 10/15 | €20,460 | €303,044 | +€282,584 | +1,381% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €282,584 | +€282,584 | |
| Amounts payable | 17/49 | €1,310,307 | €1,252,517 | -€57,790 | -4.4% |
| Amounts payable after more than one year | 17 | €304,322 | €269,862 | -€34,461 | -11.3% |
| Financial debts | 170/4 | €304,322 | €269,862 | -€34,461 | -11.3% |
| Amounts payable within one year | 42/48 | €1,005,985 | €982,655 | -€23,329 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €35,605 | €29,636 | -€5,969 | -16.8% |
| Financial debts | 43 | €13,511 | €20,266 | +€6,755 | +50.0% |
| Credit institutions | 430/8 | €13,511 | €20,266 | +€6,755 | +50.0% |
| Trade debts | 44 | €1,088 | €11,729 | +€10,641 | +978% |
| Suppliers | 440/4 | €1,088 | €11,729 | +€10,641 | +978% |
| Taxes, remuneration and social security | 45 | €71,871 | €64,453 | -€7,417 | -10.3% |
| Taxes | 450/3 | €71,871 | €64,453 | -€7,417 | -10.3% |
| Other amounts payable | 47/48 | €883,909 | €856,571 | -€27,339 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,665 | €35,456 | -€209 | -0.6% |
| Other operating charges | 640/8 | €3,581 | €2,318 | -€1,263 | -35.3% |
| Gross operating margin | 9900 | €371,673 | €432,679 | +€61,007 | +16.4% |
| Operating profit (loss) | 9901 | €332,426 | €394,906 | +€62,479 | +18.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €16,650 | €12,536 | -€4,115 | -24.7% |
| Recurring financial charges | 65 | €16,650 | €12,536 | -€4,115 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €315,776 | €382,370 | +€66,594 | +21.1% |
| Income taxes | 67/77 | €78,755 | €99,786 | +€21,031 | +26.7% |
| Profit (loss) for the period | 9904 | €237,021 | €282,584 | +€45,563 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €237,021 | €282,584 | +€45,563 | +19.2% |
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 25 October 2026 via checked.be.