MVBS: 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.
What changed
MVBS
NACE 46.150, Agents in the wholesale of furniture, household goods and hardware
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€151,218
2024 · €148,438+€2,780
Equity
€535,993
2024 · €444,775+€91,218
Cash
€24,159
2024 · €101,545-€77,387
Balance sheet total
€2.1m
2024 · €2.2m-€82,195
Largest movements
Assets
- Tangible fixed assets -€107,303
down €107,303 (-8.9%), from €1.2m to €1.1m
of which Land and buildings: -€105,539
- Stocks and contracts +€100,535
up €100,535 (+11.9%), from €847,937 to €948,472
- Cash -€77,387
down €77,387 (-76.2%), from €101,545 to €24,159
mainly Stocks and contracts (-€100,535) and Debts after one year (-€61,519)
Equity and liabilities
- Profit (loss) carried forward +€91,218
up €91,218 (+33.3%), from €274,315 to €365,533
- Debts after one year -€61,519
down €61,519 (-6.9%), from €885,647 to €824,128
- Short-term financial debts -€60,000
no longer reported in 2025 (was €60,000)
- Trade debts -€35,980
down €35,980 (-18.3%), from €196,541 to €160,561
- Current portion of long-term debt -€23,734
down €23,734 (-27.8%), from €85,253 to €61,519
Income statement
- Staff costs +€6,766
up €6,766 (+6.1%), from €110,261 to €117,027
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.
Result 2024
€148,438
Gross operating margin
-€2,887
Staff costs
-€6,766
Depreciation
-€2,990
Other operating charges
-€301
Other operating items
+€15,000
Financial income
-€2
Financial charges
+€2,351
Taxes
-€1,625
Result 2025
€151,218
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€138,718
Investment
-€10,851
Financing
-€205,253
Cash 2024
€101,545
From operations (derived)
+€138,718
Net result for the year
+€151,218
Depreciation
+€118,154
Stocks and contracts
-€100,535
Receivables within one year
+€3,615
Deferred charges and accrued income
-€5,574
Trade debts
-€35,980
Tax, wage and social debts
+€4,294
Advances received
-€6,334
Other debts
+€9,861
Investment (derived)
-€10,851
Investment in fixed assets (net)
-€10,851
Financing
-€205,253
Debts after one year
-€61,519
Current portion of long-term debt
-€23,734
Short-term financial debts
-€60,000
Contributions, distributions and other
-€60,000
Cash 2025
€24,159
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,159,609 | €2,077,414 | -€82,195 | -3.8% |
| Fixed assets | 21/28 | €1,200,922 | €1,093,619 | -€107,303 | -8.9% |
| Tangible fixed assets | 22/27 | €1,200,713 | €1,093,410 | -€107,303 | -8.9% |
| Land and buildings | 22 | €1,192,287 | €1,086,748 | -€105,539 | -8.9% |
| Plant, machinery and equipment | 23 | €2,517 | - | -€2,517 | |
| Furniture and vehicles | 24 | €5,909 | €6,662 | +€754 | +12.8% |
| Financial fixed assets | 28 | €209 | €209 | = | 0.0% |
| Current assets | 29/58 | €958,687 | €983,795 | +€25,108 | +2.6% |
| Stocks and contracts in progress | 3 | €847,937 | €948,472 | +€100,535 | +11.9% |
| Stocks | 30/36 | €847,937 | €948,472 | +€100,535 | +11.9% |
| Amounts receivable within one year | 40/41 | €3,615 | - | -€3,615 | |
| Trade receivables | 40 | €1,975 | - | -€1,975 | |
| Other amounts receivable | 41 | €1,640 | - | -€1,640 | |
| Cash at bank and in hand | 54/58 | €101,545 | €24,159 | -€77,387 | -76.2% |
| Deferred charges and accrued income | 490/1 | €5,590 | €11,164 | +€5,574 | +99.7% |
| Total equity and liabilities | 10/49 | €2,159,609 | €2,077,414 | -€82,195 | -3.8% |
| Equity | 10/15 | €444,775 | €535,993 | +€91,218 | +20.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €150,000 | €150,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,000 | - | -€40,000 | |
| Distributable reserves | 133 | €110,000 | €150,000 | +€40,000 | +36.4% |
| Profit (loss) carried forward | 14 | €274,315 | €365,533 | +€91,218 | +33.3% |
| Amounts payable | 17/49 | €1,714,834 | €1,541,421 | -€173,412 | -10.1% |
| Amounts payable after more than one year | 17 | €885,647 | €824,128 | -€61,519 | -6.9% |
| Financial debts | 170/4 | €885,647 | €824,128 | -€61,519 | -6.9% |
| Amounts payable within one year | 42/48 | €829,187 | €717,293 | -€111,894 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €85,253 | €61,519 | -€23,734 | -27.8% |
| Financial debts | 43 | €60,000 | - | -€60,000 | |
| Credit institutions | 430/8 | €60,000 | - | -€60,000 | |
| Trade debts | 44 | €196,541 | €160,561 | -€35,980 | -18.3% |
| Suppliers | 440/4 | €196,541 | €160,561 | -€35,980 | -18.3% |
| Advances received on contracts in progress | 46 | €27,767 | €21,433 | -€6,334 | -22.8% |
| Taxes, remuneration and social security | 45 | €76,552 | €80,846 | +€4,294 | +5.6% |
| Taxes | 450/3 | €62,383 | €64,600 | +€2,216 | +3.6% |
| Remuneration and social security | 454/9 | €14,169 | €16,246 | +€2,077 | +14.7% |
| Other amounts payable | 47/48 | €383,074 | €392,935 | +€9,861 | +2.6% |
| Non-recurring operating income | 76A | €662 | €1,359 | +€698 | +105% |
| Remuneration, social security and pensions | 62 | €110,261 | €117,027 | +€6,766 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,164 | €118,154 | +€2,990 | +2.6% |
| Other operating charges | 640/8 | €5,955 | €6,256 | +€301 | +5.1% |
| Non-recurring operating charges | 66A | €15,000 | - | -€15,000 | |
| Gross operating margin | 9900 | €477,567 | €474,680 | -€2,887 | -0.6% |
| Operating profit (loss) | 9901 | €231,187 | €233,243 | +€2,056 | +0.9% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €35,874 | €33,523 | -€2,351 | -6.6% |
| Recurring financial charges | 65 | €35,874 | €33,523 | -€2,351 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €195,315 | €199,720 | +€4,405 | +2.3% |
| Income taxes | 67/77 | €46,877 | €48,502 | +€1,625 | +3.5% |
| Profit (loss) for the period | 9904 | €148,438 | €151,218 | +€2,780 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €148,438 | €151,218 | +€2,780 | +1.9% |
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.