MVH: 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.
MVH
Largest movements
- Receivables within one year -€45,772
down €45,772 (-34.8%), from €131,425 to €85,654
of which Trade receivables: -€51,701
- Stocks and contracts +€30,151
up €30,151 (+250%), from €12,071 to €42,221
- Cash +€28,984
up €28,984 (+77.9%), from €37,213 to €66,197
mainly Receivables within one year (+€45,772) and Trade debts (+€35,920)
- Tangible fixed assets -€23,506
down €23,506 (-70.5%), from €33,328 to €9,822
of which Furniture and vehicles: -€21,349
- Intangible fixed assets -€4,929
down €4,929 (-20.9%), from €23,590 to €18,661
- Trade debts +€35,920
up €35,920 (+55.3%), from €64,952 to €100,872
- Tax, wage and social debts -€22,782
down €22,782 (-39.0%), from €58,485 to €35,702
of which Remuneration and social security: -€12,667
- Debts after one year -€14,914
down €14,914 (-50.0%), from €29,802 to €14,888
- Other debts -€9,396
down €9,396 (-42.5%), from €22,128 to €12,733
- Accrued charges and deferred income -€6,076
no longer reported in 2024 (was €6,076)
- Gross operating margin -€46,507
down €46,507 (-12.9%), from €359,203 to €312,695
- Staff costs -€25,400
down €25,400 (-8.5%), from €298,134 to €272,734
- Financial charges -€4,060
down €4,060 (-58.4%), from €6,956 to €2,896
- Taxes -€3,897
down €3,897 (-37.8%), from €10,321 to €6,424
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €245,000 | €228,633 | -€16,368 | -6.7% |
| Fixed assets | 21/28 | €57,280 | €28,846 | -€28,435 | -49.6% |
| Intangible fixed assets | 21 | €23,590 | €18,661 | -€4,929 | -20.9% |
| Tangible fixed assets | 22/27 | €33,328 | €9,822 | -€23,506 | -70.5% |
| Plant, machinery and equipment | 23 | €3,597 | €1,440 | -€2,157 | -60.0% |
| Furniture and vehicles | 24 | €29,730 | €8,382 | -€21,349 | -71.8% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €187,720 | €199,787 | +€12,067 | +6.4% |
| Stocks and contracts in progress | 3 | €12,071 | €42,221 | +€30,151 | +250% |
| Stocks | 30/36 | €12,071 | €42,221 | +€30,151 | +250% |
| Amounts receivable within one year | 40/41 | €131,425 | €85,654 | -€45,772 | -34.8% |
| Trade receivables | 40 | €114,508 | €62,807 | -€51,701 | -45.2% |
| Other amounts receivable | 41 | €16,917 | €22,846 | +€5,929 | +35.0% |
| Cash at bank and in hand | 54/58 | €37,213 | €66,197 | +€28,984 | +77.9% |
| Deferred charges and accrued income | 490/1 | €7,011 | €5,715 | -€1,296 | -18.5% |
| Total equity and liabilities | 10/49 | €245,000 | €228,633 | -€16,368 | -6.7% |
| Equity | 10/15 | €46,972 | €49,524 | +€2,552 | +5.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,972 | €44,524 | +€2,552 | +6.1% |
| Amounts payable | 17/49 | €198,029 | €179,109 | -€18,920 | -9.6% |
| Amounts payable after more than one year | 17 | €29,802 | €14,888 | -€14,914 | -50.0% |
| Financial debts | 170/4 | €29,802 | €14,888 | -€14,914 | -50.0% |
| Amounts payable within one year | 42/48 | €162,150 | €164,221 | +€2,070 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €14,530 | €14,914 | +€384 | +2.6% |
| Trade debts | 44 | €64,952 | €100,872 | +€35,920 | +55.3% |
| Suppliers | 440/4 | €64,952 | €100,872 | +€35,920 | +55.3% |
| Advances received on contracts in progress | 46 | €2,055 | - | -€2,055 | |
| Taxes, remuneration and social security | 45 | €58,485 | €35,702 | -€22,782 | -39.0% |
| Taxes | 450/3 | €31,498 | €21,383 | -€10,116 | -32.1% |
| Remuneration and social security | 454/9 | €26,986 | €14,320 | -€12,667 | -46.9% |
| Other amounts payable | 47/48 | €22,128 | €12,733 | -€9,396 | -42.5% |
| Accrued charges and deferred income | 492/3 | €6,076 | - | -€6,076 | |
| Remuneration, social security and pensions | 62 | €298,134 | €272,734 | -€25,400 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,030 | €28,435 | -€1,595 | -5.3% |
| Other operating charges | 640/8 | €2,721 | €4,033 | +€1,312 | +48.2% |
| Gross operating margin | 9900 | €359,203 | €312,695 | -€46,507 | -12.9% |
| Operating profit (loss) | 9901 | €28,318 | €7,494 | -€20,824 | -73.5% |
| Financial income | 75/76B | €3,840 | €4,377 | +€537 | +14.0% |
| Recurring financial income | 75 | €3,840 | €4,377 | +€537 | +14.0% |
| Financial charges | 65/66B | €6,956 | €2,896 | -€4,060 | -58.4% |
| Recurring financial charges | 65 | €6,956 | €2,896 | -€4,060 | -58.4% |
| Profit (loss) for the period before taxes | 9903 | €25,202 | €8,976 | -€16,226 | -64.4% |
| Income taxes | 67/77 | €10,321 | €6,424 | -€3,897 | -37.8% |
| Profit (loss) for the period | 9904 | €14,881 | €2,552 | -€12,329 | -82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,881 | €2,552 | -€12,329 | -82.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.