MVH Group: 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 Group
Largest movements
- Current investments +€20,552
new in 2025: €20,552
- Tangible fixed assets -€7,125
down €7,125 (-37.0%), from €19,234 to €12,109
of which Furniture and vehicles: -€4,770
- Cash +€6,676
up €6,676 (+7.7%), from €86,622 to €93,297
mainly Net result for the year (+€37,695) and Depreciation (+€8,431)
- Receivables within one year +€3,941
up €3,941 (+3,054%), from €129 to €4,070
of which Trade receivables: +€3,945
- Reserves +€37,695
up €37,695 (+62.5%), from €60,276 to €97,971
- Trade debts -€8,728
down €8,728 (-68.5%), from €12,737 to €4,009
- Tax, wage and social debts -€3,372
down €3,372 (-12.9%), from €26,235 to €22,863
of which Taxes: -€3,372
- Gross operating margin -€34,346
down €34,346 (-36.1%), from €95,025 to €60,679
- Taxes -€5,450
down €5,450 (-34.4%), from €15,858 to €10,408
- Depreciation -€3,348
down €3,348 (-28.4%), from €11,779 to €8,431
- Financial charges -€2,473
down €2,473 (-39.8%), from €6,213 to €3,740
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 | €108,287 | €132,730 | +€24,444 | +22.6% |
| Fixed assets | 21/28 | €19,234 | €12,109 | -€7,125 | -37.0% |
| Tangible fixed assets | 22/27 | €19,234 | €12,109 | -€7,125 | -37.0% |
| Plant, machinery and equipment | 23 | €1,820 | €1,390 | -€430 | -23.6% |
| Furniture and vehicles | 24 | €10,356 | €5,586 | -€4,770 | -46.1% |
| Other tangible fixed assets | 26 | €7,058 | €5,134 | -€1,925 | -27.3% |
| Current assets | 29/58 | €89,052 | €120,621 | +€31,569 | +35.4% |
| Amounts receivable within one year | 40/41 | €129 | €4,070 | +€3,941 | +3,054% |
| Trade receivables | 40 | €125 | €4,070 | +€3,945 | +3,156% |
| Other amounts receivable | 41 | €4 | €0 | -€4 | -100% |
| Current investments | 50/53 | - | €20,552 | +€20,552 | |
| Cash at bank and in hand | 54/58 | €86,622 | €93,297 | +€6,676 | +7.7% |
| Deferred charges and accrued income | 490/1 | €2,302 | €2,701 | +€400 | +17.4% |
| Total equity and liabilities | 10/49 | €108,287 | €132,730 | +€24,444 | +22.6% |
| Equity | 10/15 | €65,276 | €102,971 | +€37,695 | +57.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €60,276 | €97,971 | +€37,695 | +62.5% |
| Distributable reserves | 133 | €60,276 | €97,971 | +€37,695 | +62.5% |
| Amounts payable | 17/49 | €43,010 | €29,759 | -€13,251 | -30.8% |
| Amounts payable within one year | 42/48 | €40,862 | €28,464 | -€12,398 | -30.3% |
| Trade debts | 44 | €12,737 | €4,009 | -€8,728 | -68.5% |
| Suppliers | 440/4 | €12,737 | €4,009 | -€8,728 | -68.5% |
| Taxes, remuneration and social security | 45 | €26,235 | €22,863 | -€3,372 | -12.9% |
| Taxes | 450/3 | €23,235 | €19,863 | -€3,372 | -14.5% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,891 | €1,592 | -€298 | -15.8% |
| Accrued charges and deferred income | 492/3 | €2,148 | €1,295 | -€853 | -39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,779 | €8,431 | -€3,348 | -28.4% |
| Other operating charges | 640/8 | €1,027 | €768 | -€259 | -25.2% |
| Gross operating margin | 9900 | €95,025 | €60,679 | -€34,346 | -36.1% |
| Operating profit (loss) | 9901 | €82,219 | €51,481 | -€30,739 | -37.4% |
| Financial income | 75/76B | €128 | €363 | +€235 | +184% |
| Recurring financial income | 75 | €128 | €363 | +€235 | +184% |
| Financial charges | 65/66B | €6,213 | €3,740 | -€2,473 | -39.8% |
| Recurring financial charges | 65 | €6,213 | €3,740 | -€2,473 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €76,134 | €48,103 | -€28,031 | -36.8% |
| Income taxes | 67/77 | €15,858 | €10,408 | -€5,450 | -34.4% |
| Profit (loss) for the period | 9904 | €60,276 | €37,695 | -€22,581 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,276 | €37,695 | -€22,581 | -37.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.