MVHEU Consulting: 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.
MVHEU Consulting
Largest movements
- Cash +€1.1m
up €1.1m (+1473.1%), from €77,561 to €1.2m
mainly Net result for the year (+€1.1m) and Tax, wage and social debts (+€92,605)
- Financial fixed assets -€50,000
no longer reported in 2025 (was €50,000)
- Tangible fixed assets +€38,283
up €38,283 (+1348.4%), from €2,839 to €41,122
- Reserves +€1.0m
new in 2025: €1.0m
- Tax, wage and social debts +€92,605
up €92,605 (+448.9%), from €20,631 to €113,236
of which Taxes: +€92,605
- Other debts +€62,657
up €62,657 (+1337.9%), from €4,683 to €67,340
- Debts after one year -€29,000
no longer reported in 2025 (was €29,000)
- Profit (loss) carried forward -€28,805
down €28,805 (-52.8%), from €54,552 to €25,747
- Financial income +€1.1m
up €1.1m (+11108621.9%), from €10 to €1.1m
of which Non-recurring financial income: +€1.1m
- Taxes +€93,628
up €93,628 (+595.1%), from €15,733 to €109,360
- Gross operating margin -€10,185
down €10,185 (-14.8%), from €68,728 to €58,543
- Depreciation +€1,683
up €1,683 (+897.7%), from €187 to €1,870
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 | €140,027 | €1,278,323 | +€1.1m | +812.9% |
| Fixed assets | 21/28 | €52,839 | €41,122 | -€11,717 | -22.2% |
| Tangible fixed assets | 22/27 | €2,839 | €41,122 | +€38,283 | +1348.4% |
| Furniture and vehicles | 24 | €2,839 | €41,122 | +€38,283 | +1348.4% |
| Financial fixed assets | 28 | €50,000 | - | -€50,000 | |
| Current assets | 29/58 | €87,188 | €1,237,201 | +€1.2m | +1319.0% |
| Stocks and contracts in progress | 3 | €3,245 | - | -€3,245 | |
| Stocks | 30/36 | €3,245 | - | -€3,245 | |
| Amounts receivable within one year | 40/41 | €659 | €12,100 | +€11,441 | +1735.4% |
| Trade receivables | 40 | €659 | €12,100 | +€11,441 | +1735.4% |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €77,561 | €1,220,101 | +€1.1m | +1473.1% |
| Deferred charges and accrued income | 490/1 | €723 | - | -€723 | |
| Total equity and liabilities | 10/49 | €140,027 | €1,278,323 | +€1.1m | +812.9% |
| Equity | 10/15 | €79,552 | €1,097,747 | +€1.0m | +1279.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | - | €1,047,000 | +€1.0m | |
| Distributable reserves | 133 | - | €1,047,000 | +€1.0m | |
| Profit (loss) carried forward | 14 | €54,552 | €25,747 | -€28,805 | -52.8% |
| Amounts payable | 17/49 | €60,475 | €180,576 | +€120,100 | +198.6% |
| Amounts payable after more than one year | 17 | €29,000 | - | -€29,000 | |
| Financial debts | 170/4 | €29,000 | - | -€29,000 | |
| Amounts payable within one year | 42/48 | €29,274 | €180,576 | +€151,301 | +516.8% |
| Trade debts | 44 | €3,960 | - | -€3,960 | |
| Suppliers | 440/4 | €3,960 | - | -€3,960 | |
| Taxes, remuneration and social security | 45 | €20,631 | €113,236 | +€92,605 | +448.9% |
| Taxes | 450/3 | €19,149 | €111,754 | +€92,605 | +483.6% |
| Remuneration and social security | 454/9 | €1,482 | €1,482 | = | 0.0% |
| Other amounts payable | 47/48 | €4,683 | €67,340 | +€62,657 | +1337.9% |
| Accrued charges and deferred income | 492/3 | €2,201 | - | -€2,201 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187 | €1,870 | +€1,683 | +897.7% |
| Other operating charges | 640/8 | €793 | €415 | -€378 | -47.7% |
| Gross operating margin | 9900 | €68,728 | €58,543 | -€10,185 | -14.8% |
| Operating profit (loss) | 9901 | €67,748 | €56,258 | -€11,490 | -17.0% |
| Financial income | 75/76B | €10 | €1,134,201 | +€1.1m | +11108621.9% |
| Recurring financial income | 75 | €10 | €1 | -€10 | -95.0% |
| Non-recurring financial income | 76B | - | €1,134,200 | +€1.1m | |
| Financial charges | 65/66B | €2,224 | €2,904 | +€679 | +30.5% |
| Recurring financial charges | 65 | €2,224 | €2,904 | +€679 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €65,533 | €1,187,555 | +€1.1m | +1712.1% |
| Income taxes | 67/77 | €15,733 | €109,360 | +€93,628 | +595.1% |
| Profit (loss) for the period | 9904 | €49,801 | €1,078,195 | +€1.0m | +2065.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,801 | €1,078,195 | +€1.0m | +2065.0% |
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 6 October 2026 via checked.be.