MVK: 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.
MVK
Largest movements
- Tangible fixed assets +€550,284
up €550,284 (+4930.6%), from €11,161 to €561,444
of which Furniture and vehicles: +€532,136
- Cash -€276,655
down €276,655 (-72.7%), from €380,541 to €103,886
mainly Investment in fixed assets (net) (-€562,395) and Net result for the year (-€74,257)
- Receivables within one year +€72,313
up €72,313 (+87.2%), from €82,916 to €155,229
of which Trade receivables: +€62,399
- Stocks and contracts -€61,774
down €61,774 (-15.0%), from €411,548 to €349,774
- Other debts +€361,635
up €361,635 (+39.4%), from €918,583 to €1.3m
- Profit (loss) carried forward -€74,257
down €74,257 (-7.2%), from -€1.0m to -€1.1m
- Gross operating margin -€160,952
down €160,952, from €107,142 to -€53,809
- Staff costs -€34,694
down €34,694 (-100.0%), from €34,694 to €0
- Depreciation +€10,860
up €10,860 (+867.8%), from €1,251 to €12,111
- Other operating charges +€4,180
up €4,180 (+368.8%), from €1,133 to €5,313
- Financial charges +€2,972
up €2,972 (+2339.9%), from €127 to €3,099
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 | €886,165 | €1,171,715 | +€285,550 | +32.2% |
| Fixed assets | 21/28 | €11,161 | €561,444 | +€550,284 | +4930.6% |
| Tangible fixed assets | 22/27 | €11,161 | €561,444 | +€550,284 | +4930.6% |
| Land and buildings | 22 | - | €19,399 | +€19,399 | |
| Furniture and vehicles | 24 | - | €532,136 | +€532,136 | |
| Other tangible fixed assets | 26 | €11,161 | €9,909 | -€1,251 | -11.2% |
| Current assets | 29/58 | €875,005 | €610,271 | -€264,734 | -30.3% |
| Stocks and contracts in progress | 3 | €411,548 | €349,774 | -€61,774 | -15.0% |
| Stocks | 30/36 | €411,548 | €349,774 | -€61,774 | -15.0% |
| Amounts receivable within one year | 40/41 | €82,916 | €155,229 | +€72,313 | +87.2% |
| Trade receivables | 40 | €77,140 | €139,539 | +€62,399 | +80.9% |
| Other amounts receivable | 41 | €5,776 | €15,690 | +€9,914 | +171.6% |
| Cash at bank and in hand | 54/58 | €380,541 | €103,886 | -€276,655 | -72.7% |
| Deferred charges and accrued income | 490/1 | - | €1,382 | +€1,382 | |
| Total equity and liabilities | 10/49 | €886,165 | €1,171,715 | +€285,550 | +32.2% |
| Equity | 10/15 | -€35,298 | -€109,555 | -€74,257 | -210.4% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €747,588 | €747,588 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,799 | €22,799 | = | 0.0% |
| Distributable reserves | 133 | €700,000 | €700,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,030,779 | -€1,105,036 | -€74,257 | -7.2% |
| Amounts payable | 17/49 | €921,463 | €1,281,270 | +€359,807 | +39.0% |
| Amounts payable within one year | 42/48 | €921,463 | €1,281,270 | +€359,807 | +39.0% |
| Trade debts | 44 | €2,880 | €849 | -€2,031 | -70.5% |
| Suppliers | 440/4 | €2,880 | €849 | -€2,031 | -70.5% |
| Taxes, remuneration and social security | 45 | €0 | €204 | +€204 | |
| Taxes | 450/3 | €0 | €204 | +€204 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €918,583 | €1,280,218 | +€361,635 | +39.4% |
| Remuneration, social security and pensions | 62 | €34,694 | €0 | -€34,694 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,251 | €12,111 | +€10,860 | +867.8% |
| Other operating charges | 640/8 | €1,133 | €5,313 | +€4,180 | +368.8% |
| Gross operating margin | 9900 | €107,142 | -€53,809 | -€160,952 | |
| Operating profit (loss) | 9901 | €70,063 | -€71,234 | -€141,297 | |
| Financial income | 75/76B | €59 | €76 | +€16 | +27.6% |
| Recurring financial income | 75 | €59 | €76 | +€16 | +27.6% |
| Financial charges | 65/66B | €127 | €3,099 | +€2,972 | +2339.9% |
| Recurring financial charges | 65 | €127 | €3,099 | +€2,972 | +2339.9% |
| Profit (loss) for the period before taxes | 9903 | €69,996 | -€74,257 | -€144,253 | |
| Profit (loss) for the period | 9904 | €69,996 | -€74,257 | -€144,253 | |
| Profit (loss) for the period to be appropriated | 9905 | €69,996 | -€74,257 | -€144,253 |
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 29 September 2026 via checked.be.