MVC Management Services: 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 Services
Largest movements
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€53,729
up €53,729 (+185%), from €28,988 to €82,717
mainly Other debts (+€120,000) and Current investments (+€75,000)
- Receivables within one year +€36,687
up €36,687 (+994%), from €3,690 to €40,377
of which Trade receivables: +€40,377
- Tangible fixed assets +€22,136
up €22,136 (+79.6%), from €27,799 to €49,935
- Deferred charges and accrued income +€13,588
up €13,588 (+761%), from €1,787 to €15,375
- Other debts +€120,000
new in 2025: €120,000
- Reserves -€62,361
down €62,361 (-72.6%), from €85,948 to €23,587
- Current portion of long-term debt +€7,849
new in 2025: €7,849
- Debts after one year -€7,848
down €7,848 (-62.2%), from €12,613 to €4,765
- Short-term financial debts -€7,460
no longer reported in 2025 (was €7,460)
- Gross operating margin +€9,755
up €9,755 (+12.1%), from €80,515 to €90,270
- Financial charges -€4,755
down €4,755 (-80.4%), from €5,916 to €1,161
- Depreciation +€3,643
up €3,643 (+33.3%), from €10,952 to €14,595
- Taxes +€3,013
up €3,013 (+20.6%), from €14,600 to €17,613
- Financial income +€1,622
new in 2025: €1,622
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 | €137,264 | €188,404 | +€51,140 | +37.3% |
| Fixed assets | 21/28 | €27,799 | €49,935 | +€22,136 | +79.6% |
| Tangible fixed assets | 22/27 | €27,799 | €49,935 | +€22,136 | +79.6% |
| Furniture and vehicles | 24 | €27,799 | €49,935 | +€22,136 | +79.6% |
| Current assets | 29/58 | €109,464 | €138,469 | +€29,005 | +26.5% |
| Amounts receivable within one year | 40/41 | €3,690 | €40,377 | +€36,687 | +994% |
| Trade receivables | 40 | - | €40,377 | +€40,377 | |
| Other amounts receivable | 41 | €3,690 | - | -€3,690 | |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €28,988 | €82,717 | +€53,729 | +185% |
| Deferred charges and accrued income | 490/1 | €1,787 | €15,375 | +€13,588 | +761% |
| Total equity and liabilities | 10/49 | €137,264 | €188,404 | +€51,140 | +37.3% |
| Equity | 10/15 | €89,448 | €27,087 | -€62,361 | -69.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €85,948 | €23,587 | -€62,361 | -72.6% |
| Distributable reserves | 133 | €85,948 | €23,587 | -€62,361 | -72.6% |
| Amounts payable | 17/49 | €47,816 | €161,317 | +€113,501 | +237% |
| Amounts payable after more than one year | 17 | €12,613 | €4,765 | -€7,848 | -62.2% |
| Financial debts | 170/4 | €12,613 | €4,765 | -€7,848 | -62.2% |
| Amounts payable within one year | 42/48 | €35,203 | €156,552 | +€121,349 | +345% |
| Current portion of amounts payable after more than one year | 42 | - | €7,849 | +€7,849 | |
| Financial debts | 43 | €7,460 | - | -€7,460 | |
| Credit institutions | 430/8 | €7,460 | - | -€7,460 | |
| Trade debts | 44 | €308 | €2,163 | +€1,855 | +603% |
| Suppliers | 440/4 | €308 | €2,163 | +€1,855 | +603% |
| Taxes, remuneration and social security | 45 | €27,436 | €26,540 | -€896 | -3.3% |
| Taxes | 450/3 | €27,436 | €26,540 | -€896 | -3.3% |
| Other amounts payable | 47/48 | - | €120,000 | +€120,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,952 | €14,595 | +€3,643 | +33.3% |
| Other operating charges | 640/8 | €1,214 | €884 | -€330 | -27.2% |
| Gross operating margin | 9900 | €80,515 | €90,270 | +€9,755 | +12.1% |
| Operating profit (loss) | 9901 | €68,349 | €74,791 | +€6,442 | +9.4% |
| Financial income | 75/76B | - | €1,622 | +€1,622 | |
| Recurring financial income | 75 | - | €1,622 | +€1,622 | |
| Financial charges | 65/66B | €5,916 | €1,161 | -€4,755 | -80.4% |
| Recurring financial charges | 65 | €5,916 | €1,161 | -€4,755 | -80.4% |
| Profit (loss) for the period before taxes | 9903 | €62,433 | €75,252 | +€12,819 | +20.5% |
| Income taxes | 67/77 | €14,600 | €17,613 | +€3,013 | +20.6% |
| Profit (loss) for the period | 9904 | €47,833 | €57,639 | +€9,806 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,833 | €57,639 | +€9,806 | +20.5% |
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 26 October 2026 via checked.be.