MVG PARTNERS: 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.
MVG PARTNERS
Largest movements
- Cash +€28,564
up €28,564 (+188%), from €15,161 to €43,725
mainly Net result for the year (+€24,671) and Receivables within one year (+€18,552)
- Receivables within one year -€18,552
down €18,552 (-25.9%), from €71,704 to €53,152
of which Trade receivables: -€18,553
- Reserves +€24,671
up €24,671 (+89.4%), from €27,602 to €52,273
of which Distributable reserves: +€24,671
- Accrued charges and deferred income -€21,997
no longer reported in 2025 (was €21,997)
- Tax, wage and social debts +€5,547
up €5,547 (+29.9%), from €18,553 to €24,100
of which Taxes: +€3,047
- Gross operating margin -€15,686
down €15,686 (-29.9%), from €52,532 to €36,846
- Depreciation -€2,617
down €2,617 (-75.6%), from €3,461 to €844
- Taxes +€1,284
up €1,284 (+15.4%), from €8,335 to €9,619
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 | €87,709 | €96,877 | +€9,168 | +10.5% |
| Fixed assets | 21/28 | €844 | - | -€844 | |
| Tangible fixed assets | 22/27 | €844 | - | -€844 | |
| Plant, machinery and equipment | 23 | €844 | - | -€844 | |
| Current assets | 29/58 | €86,865 | €96,877 | +€10,012 | +11.5% |
| Amounts receivable within one year | 40/41 | €71,704 | €53,152 | -€18,552 | -25.9% |
| Trade receivables | 40 | €70,187 | €51,634 | -€18,553 | -26.4% |
| Other amounts receivable | 41 | €1,517 | €1,518 | +€1 | +0.1% |
| Cash at bank and in hand | 54/58 | €15,161 | €43,725 | +€28,564 | +188% |
| Total equity and liabilities | 10/49 | €87,709 | €96,877 | +€9,168 | +10.5% |
| Equity | 10/15 | €46,194 | €70,865 | +€24,671 | +53.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,602 | €52,273 | +€24,671 | +89.4% |
| Non-distributable reserves | 130/1 | €1,897 | €1,897 | = | 0.0% |
| Legal reserve | 130 | €1,897 | €1,897 | = | 0.0% |
| Distributable reserves | 133 | €25,705 | €50,376 | +€24,671 | +96.0% |
| Amounts payable | 17/49 | €41,515 | €26,012 | -€15,503 | -37.3% |
| Amounts payable within one year | 42/48 | €19,518 | €26,012 | +€6,494 | +33.3% |
| Trade debts | 44 | €965 | €1,912 | +€947 | +98.1% |
| Suppliers | 440/4 | €965 | €1,912 | +€947 | +98.1% |
| Taxes, remuneration and social security | 45 | €18,553 | €24,100 | +€5,547 | +29.9% |
| Taxes | 450/3 | €18,553 | €21,600 | +€3,047 | +16.4% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Accrued charges and deferred income | 492/3 | €21,997 | - | -€21,997 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,461 | €844 | -€2,617 | -75.6% |
| Other operating charges | 640/8 | €620 | €961 | +€341 | +55.0% |
| Non-recurring operating charges | 66A | €21,997 | - | -€21,997 | |
| Gross operating margin | 9900 | €52,532 | €36,846 | -€15,686 | -29.9% |
| Operating profit (loss) | 9901 | €26,454 | €35,041 | +€8,587 | +32.5% |
| Financial income | 75/76B | €21 | €22 | +€1 | +4.8% |
| Recurring financial income | 75 | €21 | €22 | +€1 | +4.8% |
| Financial charges | 65/66B | €368 | €773 | +€405 | +110% |
| Recurring financial charges | 65 | €368 | €773 | +€405 | +110% |
| Profit (loss) for the period before taxes | 9903 | €26,107 | €34,290 | +€8,183 | +31.3% |
| Income taxes | 67/77 | €8,335 | €9,619 | +€1,284 | +15.4% |
| Profit (loss) for the period | 9904 | €17,772 | €24,671 | +€6,899 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,772 | €24,671 | +€6,899 | +38.8% |
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 31 October 2026 via checked.be.