MVDW Services: 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.
MVDW Services
Largest movements
- Tangible fixed assets +€51,884
up €51,884 (+419%), from €12,386 to €64,270
of which Furniture and vehicles: +€52,637
- Stocks and contracts +€12,828
up €12,828 (+11.4%), from €112,383 to €125,211
- Intangible fixed assets -€3,275
down €3,275 (-37.3%), from €8,784 to €5,509
- Cash -€2,744
down €2,744 (-5.9%), from €46,864 to €44,120
mainly Investment in fixed assets (net) (-€66,247) and Stocks and contracts (-€12,828)
- Debts after one year +€37,171
new in 2025: €37,171
- Other debts +€17,851
up €17,851 (+11.7%), from €152,172 to €170,023
- Current portion of long-term debt +€9,206
new in 2025: €9,206
- Tax, wage and social debts -€4,642
down €4,642 (-69.5%), from €6,681 to €2,039
- Gross operating margin +€8,982
up €8,982 (+34.6%), from €25,991 to €34,973
- Depreciation +€6,311
up €6,311 (+55.7%), from €11,326 to €17,637
- Other operating charges -€1,916
down €1,916 (-26.8%), from €7,157 to €5,241
- Financial charges +€981
up €981 (+835%), from €117 to €1,099
- Taxes +€372
up €372 (+13.6%), from €2,728 to €3,100
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 | €195,196 | €256,807 | +€61,611 | +31.6% |
| Fixed assets | 21/28 | €21,170 | €69,780 | +€48,609 | +230% |
| Intangible fixed assets | 21 | €8,784 | €5,509 | -€3,275 | -37.3% |
| Tangible fixed assets | 22/27 | €12,386 | €64,270 | +€51,884 | +419% |
| Plant, machinery and equipment | 23 | €752 | €0 | -€752 | -100% |
| Furniture and vehicles | 24 | €11,634 | €64,270 | +€52,637 | +452% |
| Current assets | 29/58 | €174,026 | €187,028 | +€13,002 | +7.5% |
| Stocks and contracts in progress | 3 | €112,383 | €125,211 | +€12,828 | +11.4% |
| Stocks | 30/36 | €112,383 | €125,211 | +€12,828 | +11.4% |
| Amounts receivable within one year | 40/41 | €13,450 | €15,300 | +€1,850 | +13.8% |
| Trade receivables | 40 | €13,326 | €15,064 | +€1,738 | +13.0% |
| Other amounts receivable | 41 | €124 | €236 | +€112 | +90.5% |
| Cash at bank and in hand | 54/58 | €46,864 | €44,120 | -€2,744 | -5.9% |
| Deferred charges and accrued income | 490/1 | €1,328 | €2,396 | +€1,068 | +80.4% |
| Total equity and liabilities | 10/49 | €195,196 | €256,807 | +€61,611 | +31.6% |
| Equity | 10/15 | €27,997 | €30,210 | +€2,213 | +7.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €24,997 | €27,210 | +€2,213 | +8.9% |
| Distributable reserves | 133 | €24,997 | €27,210 | +€2,213 | +8.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €167,199 | €226,598 | +€59,399 | +35.5% |
| Amounts payable after more than one year | 17 | - | €37,171 | +€37,171 | |
| Financial debts | 170/4 | - | €37,171 | +€37,171 | |
| Amounts payable within one year | 42/48 | €167,199 | €189,427 | +€22,228 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | - | €9,206 | +€9,206 | |
| Trade debts | 44 | €8,347 | €8,159 | -€187 | -2.2% |
| Suppliers | 440/4 | €8,347 | €8,159 | -€187 | -2.2% |
| Taxes, remuneration and social security | 45 | €6,681 | €2,039 | -€4,642 | -69.5% |
| Taxes | 450/3 | €6,681 | €2,039 | -€4,642 | -69.5% |
| Other amounts payable | 47/48 | €152,172 | €170,023 | +€17,851 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,326 | €17,637 | +€6,311 | +55.7% |
| Other operating charges | 640/8 | €7,157 | €5,241 | -€1,916 | -26.8% |
| Gross operating margin | 9900 | €25,991 | €34,973 | +€8,982 | +34.6% |
| Operating profit (loss) | 9901 | €7,508 | €12,094 | +€4,586 | +61.1% |
| Financial income | 75/76B | €0 | €14 | +€14 | +28,080% |
| Recurring financial income | 75 | €0 | €14 | +€14 | +28,080% |
| Financial charges | 65/66B | €117 | €1,099 | +€981 | +835% |
| Recurring financial charges | 65 | €117 | €1,099 | +€981 | +835% |
| Profit (loss) for the period before taxes | 9903 | €7,391 | €11,010 | +€3,619 | +49.0% |
| Income taxes | 67/77 | €2,728 | €3,100 | +€372 | +13.6% |
| Profit (loss) for the period | 9904 | €4,663 | €7,910 | +€3,247 | +69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,663 | €7,910 | +€3,247 | +69.6% |
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 17 October 2026 via checked.be.