MVEST: 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.
MVEST
Largest movements
- Current investments -€670,000
down €670,000 (-100%), from €670,000 to €0
- Debts after one year -€554,863
down €554,863 (-100%), from €554,863 to €0
- Current portion of long-term debt -€83,799
down €83,799 (-100%), from €83,799 to €0
- Tax, wage and social debts -€74,825
down €74,825 (-99.2%), from €75,426 to €602
- Profit (loss) carried forward +€15,697
up €15,697 (+3.0%), from €527,005 to €542,702
- Gross operating margin -€262,017
down €262,017 (-87.6%), from €299,093 to €37,076
- Taxes -€67,815
down €67,815 (-92.8%), from €73,047 to €5,232
- Financial charges -€9,654
down €9,654 (-44.2%), from €21,866 to €12,211
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 | €1,266,001 | €586,120 | -€679,881 | -53.7% |
| Fixed assets | 21/28 | €200 | €200 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €1,265,801 | €585,920 | -€679,881 | -53.7% |
| Amounts receivable within one year | 40/41 | €593,856 | €584,311 | -€9,546 | -1.6% |
| Trade receivables | 40 | €908 | €17,325 | +€16,417 | +1,809% |
| Other amounts receivable | 41 | €592,949 | €566,986 | -€25,963 | -4.4% |
| Current investments | 50/53 | €670,000 | €0 | -€670,000 | -100% |
| Cash at bank and in hand | 54/58 | €1,945 | €1,609 | -€336 | -17.3% |
| Total equity and liabilities | 10/49 | €1,266,001 | €586,120 | -€679,881 | -53.7% |
| Equity | 10/15 | €547,465 | €563,162 | +€15,697 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €527,005 | €542,702 | +€15,697 | +3.0% |
| Amounts payable | 17/49 | €718,536 | €22,957 | -€695,579 | -96.8% |
| Amounts payable after more than one year | 17 | €554,863 | €0 | -€554,863 | -100% |
| Financial debts | 170/4 | €554,863 | €0 | -€554,863 | -100% |
| Amounts payable within one year | 42/48 | €163,673 | €22,957 | -€140,716 | -86.0% |
| Current portion of amounts payable after more than one year | 42 | €83,799 | €0 | -€83,799 | -100% |
| Financial debts | 43 | - | €9,057 | +€9,057 | |
| Credit institutions | 430/8 | - | €9,057 | +€9,057 | |
| Trade debts | 44 | €936 | €2,287 | +€1,350 | +144% |
| Suppliers | 440/4 | €936 | €2,287 | +€1,350 | +144% |
| Taxes, remuneration and social security | 45 | €75,426 | €602 | -€74,825 | -99.2% |
| Taxes | 450/3 | €75,426 | €602 | -€74,825 | -99.2% |
| Other amounts payable | 47/48 | €3,512 | €11,012 | +€7,500 | +214% |
| Non-recurring operating income | 76A | €283,469 | €0 | -€283,469 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,048 | €3,935 | +€2,887 | +276% |
| Gross operating margin | 9900 | €299,093 | €37,076 | -€262,017 | -87.6% |
| Operating profit (loss) | 9901 | €298,045 | €33,141 | -€264,904 | -88.9% |
| Financial charges | 65/66B | €21,866 | €12,211 | -€9,654 | -44.2% |
| Recurring financial charges | 65 | €21,866 | €12,211 | -€9,654 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €276,180 | €20,930 | -€255,250 | -92.4% |
| Income taxes | 67/77 | €73,047 | €5,232 | -€67,815 | -92.8% |
| Profit (loss) for the period | 9904 | €203,132 | €15,697 | -€187,435 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €203,132 | €15,697 | -€187,435 | -92.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.