MVDP: 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.
What changed
MVDP
NACE 82.100, Office administrative and support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.3m
2024 · €3.0m+€2.3m
Equity
€34.9m
2024 · €30.5m+€4.3m
Cash
€2.0m
2024 · €671,137+€1.3m
Balance sheet total
€47.5m
2024 · €43.2m+€4.3m
Largest movements
Assets
- Financial fixed assets +€3.1m
up €3.1m (+7.6%), from €41.0m to €44.1m
- Cash +€1.3m
up €1.3m (+191.7%), from €671,137 to €2.0m
mainly Net result for the year (+€5.3m) and Depreciation (+€73,674)
Equity and liabilities
- Reserves +€4.3m
up €4.3m (+14.2%), from €30.5m to €34.8m
of which Distributable reserves: +€4.3m
Income statement
- Financial income +€3.6m
up €3.6m (+120.3%), from €3.0m to €6.6m
- Financial charges +€1.3m
up €1.3m (+653.0%), from €192,153 to €1.4m
- Gross operating margin -€312,362
no longer reported in 2025 (was €312,362)
- Other operating income +€282,593
new in 2025: €282,593
- Services and other goods +€23,874
new in 2025: €23,874
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.
Result 2024
€3.0m
Other operating charges
+€15,440
Other operating items
-€53,643
Financial income
+€3.6m
Financial charges
-€1.3m
Taxes
+€1,079
Result 2025
€5.3m
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.
From operations
+€5.4m
Investment
-€3.1m
Financing
-€1.0m
Cash 2024
€671,137
From operations (derived)
+€5.4m
Net result for the year
+€5.3m
Depreciation
+€73,674
Receivables within one year
+€60,012
Trade debts
-€15,361
Tax, wage and social debts
+€2,622
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€3.1m
Financing
-€1.0m
Debts after one year
-€6,744
Current portion of long-term debt
-€29,352
Contributions, distributions and other
-€1.0m
Cash 2025
€2.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,210,182 | €47,489,618 | +€4.3m | +9.9% |
| Fixed assets | 21/28 | €42,476,676 | €45,529,430 | +€3.1m | +7.2% |
| Tangible fixed assets | 22/27 | €1,498,224 | €1,424,549 | -€73,674 | -4.9% |
| Land and buildings | 22 | €479,426 | €465,140 | -€14,286 | -3.0% |
| Leasing and similar rights | 25 | €59,946 | €29,129 | -€30,817 | -51.4% |
| Other tangible fixed assets | 26 | €958,852 | €930,280 | -€28,571 | -3.0% |
| Financial fixed assets | 28 | €40,978,452 | €44,104,881 | +€3.1m | +7.6% |
| Affiliated companies | 280/1 | - | €44,104,881 | +€44.1m | |
| Participating interests | 280 | - | €44,104,881 | +€44.1m | |
| Current assets | 29/58 | €733,507 | €1,960,188 | +€1.2m | +167.2% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €62,369 | €2,357 | -€60,012 | -96.2% |
| Trade receivables | 40 | €42,573 | €0 | -€42,573 | -100.0% |
| Other amounts receivable | 41 | €19,796 | €2,357 | -€17,439 | -88.1% |
| Cash at bank and in hand | 54/58 | €671,137 | €1,957,831 | +€1.3m | +191.7% |
| Total equity and liabilities | 10/49 | €43,210,182 | €47,489,618 | +€4.3m | +9.9% |
| Equity | 10/15 | €30,538,800 | €34,867,071 | +€4.3m | +14.2% |
| Contributions | 10/11 | €61,880 | €61,880 | = | 0.0% |
| Capital | 10 | €61,880 | €61,880 | = | 0.0% |
| Issued capital | 100 | €61,880 | €61,880 | = | 0.0% |
| Reserves | 13 | €30,476,920 | €34,805,191 | +€4.3m | +14.2% |
| Non-distributable reserves | 130/1 | €6,188 | €6,188 | = | 0.0% |
| Legal reserve | 130 | €6,188 | €6,188 | = | 0.0% |
| Distributable reserves | 133 | €30,470,732 | €34,799,003 | +€4.3m | +14.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €12,671,383 | €12,622,547 | -€48,835 | -0.4% |
| Amounts payable after more than one year | 17 | €6,744 | €0 | -€6,744 | -100.0% |
| Financial debts | 170/4 | €6,744 | €0 | -€6,744 | -100.0% |
| Leasing and similar obligations | 172 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €12,664,639 | €12,622,547 | -€42,091 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €36,238 | €6,887 | -€29,352 | -81.0% |
| Trade debts | 44 | €25,110 | €9,749 | -€15,361 | -61.2% |
| Suppliers | 440/4 | €25,110 | €9,749 | -€15,361 | -61.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | - | €2,622 | +€2,622 | |
| Taxes | 450/3 | - | €2,622 | +€2,622 | |
| Other amounts payable | 47/48 | €12,603,290 | €12,603,290 | = | 0.0% |
| Operating income | 70/76A | - | €282,593 | +€282,593 | |
| Other operating income | 74 | - | €282,593 | +€282,593 | |
| Operating charges | 60/66A | - | €111,803 | +€111,803 | |
| Services and other goods | 61 | - | €23,874 | +€23,874 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,674 | €73,674 | = | 0.0% |
| Other operating charges | 640/8 | €29,694 | €14,255 | -€15,440 | -52.0% |
| Gross operating margin | 9900 | €312,362 | - | -€312,362 | |
| Operating profit (loss) | 9901 | €208,993 | €170,790 | -€38,203 | -18.3% |
| Financial income | 75/76B | €2,997,605 | €6,604,345 | +€3.6m | +120.3% |
| Recurring financial income | 75 | €2,997,605 | €6,604,345 | +€3.6m | +120.3% |
| Income from financial fixed assets | 750 | - | €6,604,345 | +€6.6m | |
| Financial charges | 65/66B | €192,153 | €1,446,864 | +€1.3m | +653.0% |
| Recurring financial charges | 65 | €192,153 | €1,446,864 | +€1.3m | +653.0% |
| Debt charges | 650 | - | €1,074 | +€1,074 | |
| Other financial charges | 652/9 | - | €1,445,789 | +€1.4m | |
| Profit (loss) for the period before taxes | 9903 | €3,014,445 | €5,328,271 | +€2.3m | +76.8% |
| Income taxes | 67/77 | €1,079 | €0 | -€1,079 | -100.0% |
| Taxes | 670/3 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €3,013,366 | €5,328,271 | +€2.3m | +76.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,013,366 | €5,328,271 | +€2.3m | +76.8% |
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 4 October 2026 via checked.be.