MVC MANAGEMENT: 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.
MVC MANAGEMENT
Largest movements
- Receivables after one year +€23,000
up €23,000 (+63.9%), from €36,000 to €59,000
- Cash +€18,026
up €18,026 (+222%), from €8,121 to €26,147
mainly Net result for the year (+€40,857) and Receivables within one year (+€12,093)
- Receivables within one year -€12,093
down €12,093 (-61.8%), from €19,581 to €7,488
of which Trade receivables: -€12,859
- Deferred charges and accrued income +€2,749
up €2,749 (+678%), from €405 to €3,154
- Reserves +€40,024
up €40,024 (+113%), from €35,400 to €75,424
- Tax, wage and social debts -€5,973
down €5,973 (-29.6%), from €20,183 to €14,210
of which Taxes: -€5,530
- Trade debts -€2,336
down €2,336 (-63.9%), from €3,658 to €1,322
- Gross operating margin +€21,431
up €21,431 (+40.1%), from €53,397 to €74,828
- Staff costs +€19,174
up €19,174 (+343%), from €5,587 to €24,760
- Financial income +€2,622
up €2,622 (+301%), from €870 to €3,492
- Taxes +€1,324
up €1,324 (+12.5%), from €10,617 to €11,941
- Other operating charges -€980
down €980 (-65.0%), from €1,508 to €527
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 | €64,107 | €95,789 | +€31,682 | +49.4% |
| Current assets | 29/58 | €64,107 | €95,789 | +€31,682 | +49.4% |
| Amounts receivable after more than one year | 29 | €36,000 | €59,000 | +€23,000 | +63.9% |
| Other amounts receivable | 291 | €36,000 | €59,000 | +€23,000 | +63.9% |
| Amounts receivable within one year | 40/41 | €19,581 | €7,488 | -€12,093 | -61.8% |
| Trade receivables | 40 | €13,613 | €754 | -€12,859 | -94.5% |
| Other amounts receivable | 41 | €5,968 | €6,734 | +€766 | +12.8% |
| Cash at bank and in hand | 54/58 | €8,121 | €26,147 | +€18,026 | +222% |
| Deferred charges and accrued income | 490/1 | €405 | €3,154 | +€2,749 | +678% |
| Total equity and liabilities | 10/49 | €64,107 | €95,789 | +€31,682 | +49.4% |
| Equity | 10/15 | €39,400 | €79,424 | +€40,024 | +102% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €35,400 | €75,424 | +€40,024 | +113% |
| Distributable reserves | 133 | €35,400 | €75,424 | +€40,024 | +113% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,708 | €16,365 | -€8,343 | -33.8% |
| Amounts payable within one year | 42/48 | €24,700 | €16,365 | -€8,335 | -33.7% |
| Trade debts | 44 | €3,658 | €1,322 | -€2,336 | -63.9% |
| Suppliers | 440/4 | €3,658 | €1,322 | -€2,336 | -63.9% |
| Taxes, remuneration and social security | 45 | €20,183 | €14,210 | -€5,973 | -29.6% |
| Taxes | 450/3 | €19,563 | €14,033 | -€5,530 | -28.3% |
| Remuneration and social security | 454/9 | €620 | €177 | -€443 | -71.4% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Accrued charges and deferred income | 492/3 | €8 | €0 | -€8 | -100% |
| Remuneration, social security and pensions | 62 | €5,587 | €24,760 | +€19,174 | +343% |
| Other operating charges | 640/8 | €1,508 | €527 | -€980 | -65.0% |
| Gross operating margin | 9900 | €53,397 | €74,828 | +€21,431 | +40.1% |
| Operating profit (loss) | 9901 | €46,303 | €49,540 | +€3,237 | +7.0% |
| Financial income | 75/76B | €870 | €3,492 | +€2,622 | +301% |
| Recurring financial income | 75 | €870 | €3,492 | +€2,622 | +301% |
| Financial charges | 65/66B | €298 | €234 | -€64 | -21.5% |
| Recurring financial charges | 65 | €298 | €234 | -€64 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €46,875 | €52,798 | +€5,923 | +12.6% |
| Income taxes | 67/77 | €10,617 | €11,941 | +€1,324 | +12.5% |
| Profit (loss) for the period | 9904 | €36,259 | €40,857 | +€4,599 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,259 | €40,857 | +€4,599 | +12.7% |
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 20 October 2026 via checked.be.