MVDS: 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.
MVDS
Largest movements
- Receivables within one year +€44,148
up €44,148 (+347%), from €12,712 to €56,860
- Cash -€39,423
down €39,423 (-65.9%), from €59,836 to €20,414
mainly Receivables within one year (-€44,148) and Debts after one year (-€20,314)
- Tangible fixed assets -€14,310
down €14,310 (-5.1%), from €281,098 to €266,788
of which Land and buildings: -€14,217
- Receivables after one year -€10,320
down €10,320 (-47.0%), from €21,952 to €11,632
- Debts after one year -€20,314
down €20,314 (-11.1%), from €182,982 to €162,668
of which Financial debts: -€20,314
- Trade debts -€8,530
down €8,530 (-95.9%), from €8,897 to €368
- Profit (loss) carried forward +€6,699
up €6,699 (+4.6%), from €145,313 to €152,011
- Financial income +€4,523
up €4,523 (+62.8%), from €7,206 to €11,729
- Financial charges -€4,245
down €4,245 (-55.2%), from €7,688 to €3,443
- Gross operating margin -€2,908
down €2,908 (-14.6%), from €19,963 to €17,055
- Taxes +€251
up €251 (+12.7%), from €1,982 to €2,233
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 | €377,691 | €355,821 | -€21,870 | -5.8% |
| Fixed assets | 21/28 | €281,098 | €266,788 | -€14,310 | -5.1% |
| Tangible fixed assets | 22/27 | €281,098 | €266,788 | -€14,310 | -5.1% |
| Land and buildings | 22 | €280,715 | €266,498 | -€14,217 | -5.1% |
| Furniture and vehicles | 24 | €383 | €290 | -€93 | -24.3% |
| Current assets | 29/58 | €96,593 | €89,033 | -€7,560 | -7.8% |
| Amounts receivable after more than one year | 29 | €21,952 | €11,632 | -€10,320 | -47.0% |
| Other amounts receivable | 291 | €21,952 | €11,632 | -€10,320 | -47.0% |
| Amounts receivable within one year | 40/41 | €12,712 | €56,860 | +€44,148 | +347% |
| Other amounts receivable | 41 | €12,712 | €56,860 | +€44,148 | +347% |
| Cash at bank and in hand | 54/58 | €59,836 | €20,414 | -€39,423 | -65.9% |
| Deferred charges and accrued income | 490/1 | €2,093 | €127 | -€1,965 | -93.9% |
| Total equity and liabilities | 10/49 | €377,691 | €355,821 | -€21,870 | -5.8% |
| Equity | 10/15 | €165,773 | €172,471 | +€6,699 | +4.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €145,313 | €152,011 | +€6,699 | +4.6% |
| Amounts payable | 17/49 | €211,919 | €183,350 | -€28,569 | -13.5% |
| Amounts payable after more than one year | 17 | €182,982 | €162,668 | -€20,314 | -11.1% |
| Financial debts | 170/4 | €180,782 | €160,468 | -€20,314 | -11.2% |
| Other amounts payable | 178/9 | €2,200 | €2,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,916 | €20,682 | -€8,234 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €20,019 | €20,314 | +€295 | +1.5% |
| Trade debts | 44 | €8,897 | €368 | -€8,530 | -95.9% |
| Suppliers | 440/4 | €8,897 | €368 | -€8,530 | -95.9% |
| Accrued charges and deferred income | 492/3 | €20 | €0 | -€20 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,196 | €15,063 | -€133 | -0.9% |
| Other operating charges | 640/8 | €1,154 | €1,346 | +€193 | +16.7% |
| Gross operating margin | 9900 | €19,963 | €17,055 | -€2,908 | -14.6% |
| Operating profit (loss) | 9901 | €3,613 | €646 | -€2,967 | -82.1% |
| Financial income | 75/76B | €7,206 | €11,729 | +€4,523 | +62.8% |
| Recurring financial income | 75 | €7,206 | €11,729 | +€4,523 | +62.8% |
| Financial charges | 65/66B | €7,688 | €3,443 | -€4,245 | -55.2% |
| Recurring financial charges | 65 | €7,688 | €3,443 | -€4,245 | -55.2% |
| Profit (loss) for the period before taxes | 9903 | €3,131 | €8,932 | +€5,800 | +185% |
| Income taxes | 67/77 | €1,982 | €2,233 | +€251 | +12.7% |
| Profit (loss) for the period | 9904 | €1,149 | €6,699 | +€5,550 | +483% |
| Profit (loss) for the period to be appropriated | 9905 | €1,149 | €6,699 | +€5,550 | +483% |
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 15 October 2026 via checked.be.