MVDB: 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.
MVDB
Largest movements
- Cash +€8,034
up €8,034 (+39.0%), from €20,617 to €28,651
mainly Other debts (+€16,517) and Net result for the year (+€7,611)
- Tangible fixed assets -€1,680
down €1,680 (-41.9%), from €4,014 to €2,334
of which Plant, machinery and equipment: -€1,541
- Deferred charges and accrued income +€665
up €665 (+43.1%), from €1,540 to €2,205
- Receivables within one year +€387
up €387 (+28.1%), from €1,378 to €1,764
- Other debts +€16,517
up €16,517 (+205,435%), from €8 to €16,525
- Reserves -€10,284
down €10,284 (-86.5%), from €11,896 to €1,611
- Trade debts +€5,026
up €5,026 (+164%), from €3,064 to €8,090
- Accrued charges and deferred income +€3,010
new in 2025: €3,010
- Current portion of long-term debt -€2,388
down €2,388 (-50.9%), from €4,693 to €2,305
- Gross operating margin -€1,997
down €1,997 (-12.7%), from €15,731 to €13,734
- Depreciation -€620
down €620 (-26.9%), from €2,300 to €1,680
- Taxes -€387
down €387 (-10.7%), from €3,622 to €3,236
- Financial income -€360
down €360 (-100.0%), from €360 to €0
- Other operating charges -€307
down €307 (-40.4%), from €759 to €453
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 | €27,549 | €34,954 | +€7,405 | +26.9% |
| Fixed assets | 21/28 | €4,014 | €2,334 | -€1,680 | -41.9% |
| Tangible fixed assets | 22/27 | €4,014 | €2,334 | -€1,680 | -41.9% |
| Plant, machinery and equipment | 23 | €3,875 | €2,334 | -€1,541 | -39.8% |
| Furniture and vehicles | 24 | €139 | - | -€139 | |
| Current assets | 29/58 | €23,535 | €32,620 | +€9,085 | +38.6% |
| Amounts receivable within one year | 40/41 | €1,378 | €1,764 | +€387 | +28.1% |
| Other amounts receivable | 41 | €1,378 | €1,764 | +€387 | +28.1% |
| Cash at bank and in hand | 54/58 | €20,617 | €28,651 | +€8,034 | +39.0% |
| Deferred charges and accrued income | 490/1 | €1,540 | €2,205 | +€665 | +43.1% |
| Total equity and liabilities | 10/49 | €27,549 | €34,954 | +€7,405 | +26.9% |
| Equity | 10/15 | €14,896 | €4,611 | -€10,284 | -69.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,896 | €1,611 | -€10,284 | -86.5% |
| Distributable reserves | 133 | €11,896 | €1,611 | -€10,284 | -86.5% |
| Amounts payable | 17/49 | €12,653 | €30,343 | +€17,690 | +140% |
| Amounts payable after more than one year | 17 | €2,717 | €412 | -€2,305 | -84.8% |
| Financial debts | 170/4 | €2,717 | €412 | -€2,305 | -84.8% |
| Amounts payable within one year | 42/48 | €9,936 | €26,921 | +€16,985 | +171% |
| Current portion of amounts payable after more than one year | 42 | €4,693 | €2,305 | -€2,388 | -50.9% |
| Trade debts | 44 | €3,064 | €8,090 | +€5,026 | +164% |
| Suppliers | 440/4 | €3,064 | €8,090 | +€5,026 | +164% |
| Taxes, remuneration and social security | 45 | €2,171 | - | -€2,171 | |
| Taxes | 450/3 | €2,171 | - | -€2,171 | |
| Other amounts payable | 47/48 | €8 | €16,525 | +€16,517 | +205,435% |
| Accrued charges and deferred income | 492/3 | - | €3,010 | +€3,010 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,300 | €1,680 | -€620 | -26.9% |
| Other operating charges | 640/8 | €759 | €453 | -€307 | -40.4% |
| Gross operating margin | 9900 | €15,731 | €13,734 | -€1,997 | -12.7% |
| Operating profit (loss) | 9901 | €12,672 | €11,601 | -€1,071 | -8.5% |
| Financial income | 75/76B | €360 | €0 | -€360 | -100.0% |
| Recurring financial income | 75 | €360 | €0 | -€360 | -100.0% |
| Financial charges | 65/66B | €1,002 | €754 | -€248 | -24.7% |
| Recurring financial charges | 65 | €1,002 | €754 | -€248 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €12,031 | €10,847 | -€1,184 | -9.8% |
| Income taxes | 67/77 | €3,622 | €3,236 | -€387 | -10.7% |
| Profit (loss) for the period | 9904 | €8,408 | €7,611 | -€797 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,408 | €7,611 | -€797 | -9.5% |
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 20 October 2026 via checked.be.