MVDC: what changed
Two fiscal 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.
MVDC
Largest movements
- Receivables within one year -€5,707
no longer reported in 2025 (was €5,707)
- Cash +€2,895
up €2,895 (+5.8%), from €50,214 to €53,109
mainly Net result for the year (+€197,529) and Receivables within one year (+€5,707)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€28,485
up €28,485 (+12.8%), from €221,927 to €250,412
- Financial income +€8,126
up €8,126 (+214.4%), from €3,790 to €11,916
- Taxes +€7,382
up €7,382 (+14.0%), from €52,831 to €60,213
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.
Cash bridge derived
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 | €282,940 | €281,107 | -€1,833 | -0.6% |
| Fixed assets | 21/28 | €27,959 | €29,091 | +€1,132 | +4.0% |
| Tangible fixed assets | 22/27 | €27,959 | €29,091 | +€1,132 | +4.0% |
| Furniture and vehicles | 24 | €4,796 | €6,896 | +€2,100 | +43.8% |
| Other tangible fixed assets | 26 | €23,163 | €22,195 | -€968 | -4.2% |
| Current assets | 29/58 | €254,981 | €252,016 | -€2,965 | -1.2% |
| Amounts receivable within one year | 40/41 | €5,707 | - | -€5,707 | |
| Other amounts receivable | 41 | €5,707 | - | -€5,707 | |
| Current investments | 50/53 | €115,694 | €115,694 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €50,214 | €53,109 | +€2,895 | +5.8% |
| Deferred charges and accrued income | 490/1 | €83,366 | €83,213 | -€153 | -0.2% |
| Total equity and liabilities | 10/49 | €282,940 | €281,107 | -€1,833 | -0.6% |
| Equity | 10/15 | €271,013 | €268,542 | -€2,471 | -0.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €63,150 | €63,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €201,863 | €199,392 | -€2,471 | -1.2% |
| Amounts payable | 17/49 | €11,928 | €12,566 | +€638 | +5.3% |
| Amounts payable within one year | 42/48 | €11,760 | €12,398 | +€638 | +5.4% |
| Trade debts | 44 | €1,327 | €987 | -€340 | -25.6% |
| Suppliers | 440/4 | €1,327 | €987 | -€340 | -25.6% |
| Taxes, remuneration and social security | 45 | €10,433 | €8,905 | -€1,528 | -14.6% |
| Taxes | 450/3 | €7,933 | €8,905 | +€972 | +12.2% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | - | €2,506 | +€2,506 | |
| Accrued charges and deferred income | 492/3 | €168 | €168 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,956 | €3,883 | +€1,927 | +98.5% |
| Other operating charges | 640/8 | €725 | €647 | -€78 | -10.8% |
| Gross operating margin | 9900 | €221,927 | €250,412 | +€28,485 | +12.8% |
| Operating profit (loss) | 9901 | €219,246 | €245,883 | +€26,637 | +12.1% |
| Financial income | 75/76B | €3,790 | €11,916 | +€8,126 | +214.4% |
| Recurring financial income | 75 | €3,790 | €11,916 | +€8,126 | +214.4% |
| Financial charges | 65/66B | €62 | €57 | -€5 | -8.3% |
| Recurring financial charges | 65 | €62 | €57 | -€5 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €222,975 | €257,742 | +€34,767 | +15.6% |
| Income taxes | 67/77 | €52,831 | €60,213 | +€7,382 | +14.0% |
| Profit (loss) for the period | 9904 | €170,144 | €197,529 | +€27,385 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €170,144 | €197,529 | +€27,385 | +16.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.