MVM ALPHA GROUP: 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.
MVM ALPHA GROUP
Largest movements
- Tangible fixed assets -€45,694
down €45,694 (-24.3%), from €188,205 to €142,510
- Receivables within one year +€24,842
up €24,842 (+23.3%), from €106,721 to €131,563
of which Other amounts receivable: +€15,852
- Cash -€22,115
down €22,115 (-34.2%), from €64,743 to €42,629
mainly Other debts (-€29,516) and Receivables within one year (-€24,842)
- Stocks and contracts +€18,896
up €18,896 (+34.9%), from €54,205 to €73,101
- Other debts -€29,516
down €29,516 (-48.8%), from €60,516 to €31,000
- Debts after one year -€15,637
down €15,637 (-74.7%), from €20,937 to €5,301
- Tax, wage and social debts +€13,360
up €13,360 (+16.2%), from €82,514 to €95,874
of which Remuneration and social security: +€13,744
- Trade debts +€5,643
up €5,643 (+3.1%), from €183,401 to €189,044
- Staff costs +€54,000
up €54,000 (+24.4%), from €221,510 to €275,510
- Taxes -€8,773
down €8,773 (-70.2%), from €12,490 to €3,717
- Gross operating margin +€5,748
up €5,748 (+1.8%), from €324,939 to €330,687
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 | €415,749 | €391,678 | -€24,071 | -5.8% |
| Fixed assets | 21/28 | €190,080 | €144,385 | -€45,694 | -24.0% |
| Tangible fixed assets | 22/27 | €188,205 | €142,510 | -€45,694 | -24.3% |
| Plant, machinery and equipment | 23 | €76,076 | €57,526 | -€18,550 | -24.4% |
| Furniture and vehicles | 24 | €19,982 | €5,551 | -€14,431 | -72.2% |
| Other tangible fixed assets | 26 | €92,147 | €79,434 | -€12,713 | -13.8% |
| Financial fixed assets | 28 | €1,875 | €1,875 | = | 0.0% |
| Current assets | 29/58 | €225,669 | €247,293 | +€21,623 | +9.6% |
| Stocks and contracts in progress | 3 | €54,205 | €73,101 | +€18,896 | +34.9% |
| Stocks | 30/36 | €54,205 | €73,101 | +€18,896 | +34.9% |
| Amounts receivable within one year | 40/41 | €106,721 | €131,563 | +€24,842 | +23.3% |
| Trade receivables | 40 | €106,721 | €115,712 | +€8,991 | +8.4% |
| Other amounts receivable | 41 | - | €15,852 | +€15,852 | |
| Cash at bank and in hand | 54/58 | €64,743 | €42,629 | -€22,115 | -34.2% |
| Total equity and liabilities | 10/49 | €415,749 | €391,678 | -€24,071 | -5.8% |
| Equity | 10/15 | €53,135 | €54,823 | +€1,687 | +3.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,635 | €42,323 | +€1,687 | +4.2% |
| Amounts payable | 17/49 | €362,614 | €336,855 | -€25,759 | -7.1% |
| Amounts payable after more than one year | 17 | €20,937 | €5,301 | -€15,637 | -74.7% |
| Financial debts | 170/4 | €20,937 | €5,301 | -€15,637 | -74.7% |
| Amounts payable within one year | 42/48 | €341,676 | €331,554 | -€10,122 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €15,246 | €15,637 | +€391 | +2.6% |
| Trade debts | 44 | €183,401 | €189,044 | +€5,643 | +3.1% |
| Suppliers | 440/4 | €183,401 | €189,044 | +€5,643 | +3.1% |
| Taxes, remuneration and social security | 45 | €82,514 | €95,874 | +€13,360 | +16.2% |
| Taxes | 450/3 | €41,651 | €41,266 | -€384 | -0.9% |
| Remuneration and social security | 454/9 | €40,863 | €54,607 | +€13,744 | +33.6% |
| Other amounts payable | 47/48 | €60,516 | €31,000 | -€29,516 | -48.8% |
| Remuneration, social security and pensions | 62 | €221,510 | €275,510 | +€54,000 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,082 | €45,694 | -€388 | -0.8% |
| Other operating charges | 640/8 | €4,907 | €2,041 | -€2,866 | -58.4% |
| Gross operating margin | 9900 | €324,939 | €330,687 | +€5,748 | +1.8% |
| Operating profit (loss) | 9901 | €52,440 | €7,442 | -€44,998 | -85.8% |
| Financial charges | 65/66B | €2,691 | €2,037 | -€654 | -24.3% |
| Recurring financial charges | 65 | €2,691 | €2,037 | -€654 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €49,749 | €5,405 | -€44,344 | -89.1% |
| Income taxes | 67/77 | €12,490 | €3,717 | -€8,773 | -70.2% |
| Profit (loss) for the period | 9904 | €37,259 | €1,687 | -€35,571 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,259 | €1,687 | -€35,571 | -95.5% |
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.