MVDK: 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.
MVDK
Largest movements
- Financial fixed assets +€218,669
new in 2025: €218,669
- Tangible fixed assets -€9,056
down €9,056 (-41.7%), from €21,710 to €12,654
- Debts after one year +€151,399
up €151,399 (+951.5%), from €15,912 to €167,311
- Reserves +€28,870
up €28,870 (+163.0%), from €17,712 to €46,583
- Current portion of long-term debt +€17,418
up €17,418 (+314.2%), from €5,543 to €22,960
- Tax, wage and social debts +€7,046
up €7,046 (+76.9%), from €9,159 to €16,205
of which Taxes: +€7,052
- Other debts +€3,199
new in 2025: €3,199
- Gross operating margin +€26,147
up €26,147 (+83.2%), from €31,426 to €57,574
- Financial charges +€5,957
up €5,957 (+666.8%), from €893 to €6,850
- Taxes +€4,987
up €4,987 (+80.2%), from €6,216 to €11,203
- Depreciation +€3,598
up €3,598 (+65.9%), from €5,458 to €9,056
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 | €53,619 | €264,339 | +€210,720 | +393.0% |
| Fixed assets | 21/28 | €21,710 | €231,323 | +€209,613 | +965.5% |
| Tangible fixed assets | 22/27 | €21,710 | €12,654 | -€9,056 | -41.7% |
| Furniture and vehicles | 24 | €21,710 | €12,654 | -€9,056 | -41.7% |
| Financial fixed assets | 28 | - | €218,669 | +€218,669 | |
| Current assets | 29/58 | €31,909 | €33,016 | +€1,107 | +3.5% |
| Amounts receivable within one year | 40/41 | €14,114 | €14,369 | +€255 | +1.8% |
| Trade receivables | 40 | €13,830 | €14,369 | +€538 | +3.9% |
| Other amounts receivable | 41 | €284 | €0 | -€284 | -100.0% |
| Cash at bank and in hand | 54/58 | €16,795 | €17,424 | +€629 | +3.7% |
| Deferred charges and accrued income | 490/1 | €1,000 | €1,223 | +€223 | +22.3% |
| Total equity and liabilities | 10/49 | €53,619 | €264,339 | +€210,720 | +393.0% |
| Equity | 10/15 | €20,712 | €49,583 | +€28,870 | +139.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,712 | €46,583 | +€28,870 | +163.0% |
| Distributable reserves | 133 | €17,712 | €46,583 | +€28,870 | +163.0% |
| Amounts payable | 17/49 | €32,906 | €214,756 | +€181,850 | +552.6% |
| Amounts payable after more than one year | 17 | €15,912 | €167,311 | +€151,399 | +951.5% |
| Financial debts | 170/4 | €15,912 | €167,311 | +€151,399 | +951.5% |
| Amounts payable within one year | 42/48 | €16,445 | €46,895 | +€30,450 | +185.2% |
| Current portion of amounts payable after more than one year | 42 | €5,543 | €22,960 | +€17,418 | +314.2% |
| Trade debts | 44 | €1,743 | €4,531 | +€2,788 | +159.9% |
| Suppliers | 440/4 | €1,743 | €4,531 | +€2,788 | +159.9% |
| Taxes, remuneration and social security | 45 | €9,159 | €16,205 | +€7,046 | +76.9% |
| Taxes | 450/3 | €6,801 | €13,853 | +€7,052 | +103.7% |
| Remuneration and social security | 454/9 | €2,358 | €2,351 | -€7 | -0.3% |
| Other amounts payable | 47/48 | - | €3,199 | +€3,199 | |
| Accrued charges and deferred income | 492/3 | €550 | €550 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,458 | €9,056 | +€3,598 | +65.9% |
| Other operating charges | 640/8 | €1,146 | €1,595 | +€449 | +39.2% |
| Gross operating margin | 9900 | €31,426 | €57,574 | +€26,147 | +83.2% |
| Operating profit (loss) | 9901 | €24,822 | €46,923 | +€22,101 | +89.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €893 | €6,850 | +€5,957 | +666.8% |
| Recurring financial charges | 65 | €893 | €6,850 | +€5,957 | +666.8% |
| Profit (loss) for the period before taxes | 9903 | €23,929 | €40,073 | +€16,144 | +67.5% |
| Income taxes | 67/77 | €6,216 | €11,203 | +€4,987 | +80.2% |
| Profit (loss) for the period | 9904 | €17,712 | €28,870 | +€11,158 | +63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,712 | €28,870 | +€11,158 | +63.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.