MVH-Projects: what changed
Two fiscal 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-Projects
Largest movements
- Receivables within one year -€13,977
down €13,977 (-21.9%), from €63,903 to €49,926
of which Trade receivables: -€19,567
- Deferred charges and accrued income +€7,617
up €7,617 (+1987.3%), from €383 to €8,000
- Tangible fixed assets -€6,648
down €6,648 (-67.2%), from €9,899 to €3,252
of which Furniture and vehicles: -€4,738
- Cash -€987
down €987 (-16.8%), from €5,887 to €4,899
mainly Current portion of long-term debt (-€8,673) and Deferred charges and accrued income (-€7,617)
- Current portion of long-term debt -€8,673
no longer reported in 2025 (was €8,673)
- Trade debts -€3,840
down €3,840 (-68.6%), from €5,596 to €1,756
- Tax, wage and social debts -€1,341
down €1,341 (-41.3%), from €3,246 to €1,905
of which Remuneration and social security: -€1,077
- Depreciation -€5,651
down €5,651 (-46.0%), from €12,299 to €6,648
- Other operating charges -€3,469
down €3,469 (-41.5%), from €8,350 to €4,881
- Staff costs -€2,984
no longer reported in 2025 (was €2,984)
- Gross operating margin +€2,496
up €2,496 (+25.0%), from €9,982 to €12,477
- Financial income -€219
down €219 (-73.7%), from €297 to €78
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.
Cash bridge derived
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 | €80,072 | €66,077 | -€13,995 | -17.5% |
| Fixed assets | 21/28 | €9,899 | €3,252 | -€6,648 | -67.2% |
| Tangible fixed assets | 22/27 | €9,899 | €3,252 | -€6,648 | -67.2% |
| Plant, machinery and equipment | 23 | €1,910 | - | -€1,910 | |
| Furniture and vehicles | 24 | €7,989 | €3,252 | -€4,738 | -59.3% |
| Current assets | 29/58 | €70,173 | €62,826 | -€7,348 | -10.5% |
| Amounts receivable within one year | 40/41 | €63,903 | €49,926 | -€13,977 | -21.9% |
| Trade receivables | 40 | €50,246 | €30,679 | -€19,567 | -38.9% |
| Other amounts receivable | 41 | €13,657 | €19,247 | +€5,590 | +40.9% |
| Cash at bank and in hand | 54/58 | €5,887 | €4,899 | -€987 | -16.8% |
| Deferred charges and accrued income | 490/1 | €383 | €8,000 | +€7,617 | +1987.3% |
| Total equity and liabilities | 10/49 | €80,072 | €66,077 | -€13,995 | -17.5% |
| Equity | 10/15 | €13,672 | €14,244 | +€572 | +4.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,672 | €12,244 | +€572 | +4.9% |
| Amounts payable | 17/49 | €66,400 | €51,833 | -€14,567 | -21.9% |
| Amounts payable within one year | 42/48 | €66,400 | €51,833 | -€14,567 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €8,673 | - | -€8,673 | |
| Trade debts | 44 | €5,596 | €1,756 | -€3,840 | -68.6% |
| Suppliers | 440/4 | €5,596 | €1,756 | -€3,840 | -68.6% |
| Taxes, remuneration and social security | 45 | €3,246 | €1,905 | -€1,341 | -41.3% |
| Taxes | 450/3 | €2,170 | €1,905 | -€264 | -12.2% |
| Remuneration and social security | 454/9 | €1,077 | - | -€1,077 | |
| Other amounts payable | 47/48 | €48,884 | €48,172 | -€712 | -1.5% |
| Remuneration, social security and pensions | 62 | €2,984 | - | -€2,984 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,299 | €6,648 | -€5,651 | -46.0% |
| Other operating charges | 640/8 | €8,350 | €4,881 | -€3,469 | -41.5% |
| Gross operating margin | 9900 | €9,982 | €12,477 | +€2,496 | +25.0% |
| Operating profit (loss) | 9901 | -€13,651 | €949 | +€14,600 | |
| Financial income | 75/76B | €297 | €78 | -€219 | -73.7% |
| Recurring financial income | 75 | €297 | €78 | -€219 | -73.7% |
| Financial charges | 65/66B | €624 | €455 | -€169 | -27.1% |
| Recurring financial charges | 65 | €624 | €455 | -€169 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,979 | €572 | +€14,550 | |
| Income taxes | 67/77 | -€5 | - | +€5 | |
| Profit (loss) for the period | 9904 | -€13,974 | €572 | +€14,545 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,974 | €572 | +€14,545 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.