MVM: 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.
MVM
Largest movements
- Cash -€14,792
down €14,792 (-91.8%), from €16,118 to €1,326
mainly Debts after one year (-€192,662) and Stocks and contracts (-€11,075)
- Stocks and contracts +€11,075
up €11,075 (+75.9%), from €14,600 to €25,675
- Debts after one year -€192,662
down €192,662 (-49.9%), from €386,180 to €193,518
of which Other amounts payable: -€170,998
- Profit (loss) carried forward +€112,555
up €112,555 (+117%), from €96,223 to €208,778
- Other debts +€76,041
up €76,041 (+224%), from €33,877 to €109,919
- Financial income +€71,971
up €71,971 (+144%), from €50,027 to €121,998
- Gross operating margin -€6,602
down €6,602, from €2,553 to -€4,049
- Financial charges -€560
down €560 (-15.5%), from €3,609 to €3,049
- Other operating charges -€244
down €244 (-10.8%), from €2,256 to €2,012
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 | €1,063,618 | €1,059,584 | -€4,034 | -0.4% |
| Fixed assets | 21/28 | €1,027,330 | €1,026,996 | -€333 | 0.0% |
| Tangible fixed assets | 22/27 | €663 | €330 | -€333 | -50.3% |
| Plant, machinery and equipment | 23 | €663 | €330 | -€333 | -50.3% |
| Financial fixed assets | 28 | €1,026,667 | €1,026,667 | = | 0.0% |
| Current assets | 29/58 | €36,288 | €32,587 | -€3,701 | -10.2% |
| Stocks and contracts in progress | 3 | €14,600 | €25,675 | +€11,075 | +75.9% |
| Stocks | 30/36 | €14,600 | €25,675 | +€11,075 | +75.9% |
| Amounts receivable within one year | 40/41 | €3,684 | €3,630 | -€54 | -1.5% |
| Trade receivables | 40 | €3,684 | €3,630 | -€54 | -1.5% |
| Cash at bank and in hand | 54/58 | €16,118 | €1,326 | -€14,792 | -91.8% |
| Deferred charges and accrued income | 490/1 | €1,886 | €1,956 | +€70 | +3.7% |
| Total equity and liabilities | 10/49 | €1,063,618 | €1,059,584 | -€4,034 | -0.4% |
| Equity | 10/15 | €619,770 | €732,324 | +€112,555 | +18.2% |
| Contributions | 10/11 | €523,547 | €523,547 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,223 | €208,778 | +€112,555 | +117% |
| Amounts payable | 17/49 | €443,848 | €327,259 | -€116,589 | -26.3% |
| Amounts payable after more than one year | 17 | €386,180 | €193,518 | -€192,662 | -49.9% |
| Financial debts | 170/4 | €80,760 | €59,096 | -€21,664 | -26.8% |
| Other amounts payable | 178/9 | €305,420 | €134,422 | -€170,998 | -56.0% |
| Amounts payable within one year | 42/48 | €57,578 | €133,741 | +€76,163 | +132% |
| Current portion of amounts payable after more than one year | 42 | €21,018 | €21,664 | +€646 | +3.1% |
| Trade debts | 44 | €985 | €207 | -€778 | -79.0% |
| Suppliers | 440/4 | €985 | €207 | -€778 | -79.0% |
| Taxes, remuneration and social security | 45 | €1,697 | €1,951 | +€254 | +15.0% |
| Taxes | 450/3 | €197 | €451 | +€254 | +129% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €33,877 | €109,919 | +€76,041 | +224% |
| Accrued charges and deferred income | 492/3 | €90 | - | -€90 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €333 | €333 | = | 0.0% |
| Other operating charges | 640/8 | €2,256 | €2,012 | -€244 | -10.8% |
| Gross operating margin | 9900 | €2,553 | -€4,049 | -€6,602 | |
| Operating profit (loss) | 9901 | -€36 | -€6,394 | -€6,358 | -17,641% |
| Financial income | 75/76B | €50,027 | €121,998 | +€71,971 | +144% |
| Recurring financial income | 75 | €50,027 | €121,998 | +€71,971 | +144% |
| Financial charges | 65/66B | €3,609 | €3,049 | -€560 | -15.5% |
| Recurring financial charges | 65 | €3,609 | €3,049 | -€560 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €46,382 | €112,555 | +€66,173 | +143% |
| Profit (loss) for the period | 9904 | €46,382 | €112,555 | +€66,173 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €46,382 | €112,555 | +€66,173 | +143% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.