MVM-LUX: 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-LUX
Largest movements
- Cash -€115,736
down €115,736 (-48.6%), from €238,112 to €122,376
mainly Net result for the year (-€159,085) and Provisions (-€100,809)
- Receivables within one year -€55,978
down €55,978 (-44.1%), from €127,022 to €71,044
of which Trade receivables: -€57,868
- Stocks and contracts +€30,886
up €30,886 (+47.9%), from €64,509 to €95,395
- Profit (loss) carried forward -€148,423
down €148,423 (-16.7%), from €889,779 to €741,356
- Provisions -€100,809
no longer reported in 2025 (was €100,809)
- Trade debts +€90,599
up €90,599 (+6,721%), from €1,348 to €91,947
- Other debts +€30,692
up €30,692 (+713%), from €4,303 to €34,995
- Current portion of long-term debt -€17,542
down €17,542 (-60.5%), from €29,012 to €11,470
- Depreciation +€89,414
new in 2025: €89,414
- Taxes +€40,781
no longer reported in 2025 (was -€40,781)
- Gross operating margin -€38,997
down €38,997, from €9,161 to -€29,836
- Staff costs +€21,328
up €21,328 (+540%), from €3,953 to €25,281
- Other operating charges -€19,013
down €19,013 (-60.1%), from €31,631 to €12,617
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 | €1,083,540 | €940,659 | -€142,881 | -13.2% |
| Fixed assets | 21/28 | €653,897 | €643,596 | -€10,301 | -1.6% |
| Tangible fixed assets | 22/27 | €652,916 | €642,615 | -€10,301 | -1.6% |
| Land and buildings | 22 | €603,067 | €604,781 | +€1,715 | +0.3% |
| Plant, machinery and equipment | 23 | €28,153 | €20,454 | -€7,699 | -27.3% |
| Furniture and vehicles | 24 | €21,696 | €17,379 | -€4,317 | -19.9% |
| Financial fixed assets | 28 | €981 | €981 | = | 0.0% |
| Current assets | 29/58 | €429,642 | €297,063 | -€132,580 | -30.9% |
| Stocks and contracts in progress | 3 | €64,509 | €95,395 | +€30,886 | +47.9% |
| Stocks | 30/36 | €64,509 | €95,395 | +€30,886 | +47.9% |
| Amounts receivable within one year | 40/41 | €127,022 | €71,044 | -€55,978 | -44.1% |
| Trade receivables | 40 | €121,979 | €64,111 | -€57,868 | -47.4% |
| Other amounts receivable | 41 | €5,043 | €6,933 | +€1,890 | +37.5% |
| Cash at bank and in hand | 54/58 | €238,112 | €122,376 | -€115,736 | -48.6% |
| Deferred charges and accrued income | 490/1 | - | €8,248 | +€8,248 | |
| Total equity and liabilities | 10/49 | €1,083,540 | €940,659 | -€142,881 | -13.2% |
| Equity | 10/15 | €916,314 | €767,891 | -€148,423 | -16.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €14,135 | €14,135 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,135 | - | -€14,135 | |
| Legal reserve | 130 | €1,240 | - | -€1,240 | |
| Other | 1319 | €12,895 | - | -€12,895 | |
| Tax-exempt reserves | 132 | - | €12,895 | +€12,895 | |
| Distributable reserves | 133 | - | €1,240 | +€1,240 | |
| Profit (loss) carried forward | 14 | €889,779 | €741,356 | -€148,423 | -16.7% |
| Provisions and deferred taxes | 16 | €100,809 | - | -€100,809 | |
| Provisions for liabilities and charges | 160/5 | €100,809 | - | -€100,809 | |
| Pensions and similar obligations | 160 | €100,809 | - | -€100,809 | |
| Amounts payable | 17/49 | €66,416 | €172,768 | +€106,351 | +160% |
| Amounts payable after more than one year | 17 | €31,754 | €28,708 | -€3,046 | -9.6% |
| Financial debts | 170/4 | €31,754 | €28,708 | -€3,046 | -9.6% |
| Amounts payable within one year | 42/48 | €34,662 | €144,060 | +€109,397 | +316% |
| Current portion of amounts payable after more than one year | 42 | €29,012 | €11,470 | -€17,542 | -60.5% |
| Trade debts | 44 | €1,348 | €91,947 | +€90,599 | +6,721% |
| Suppliers | 440/4 | €1,348 | €91,947 | +€90,599 | +6,721% |
| Taxes, remuneration and social security | 45 | - | €5,648 | +€5,648 | |
| Taxes | 450/3 | - | €433 | +€433 | |
| Remuneration and social security | 454/9 | - | €5,215 | +€5,215 | |
| Other amounts payable | 47/48 | €4,303 | €34,995 | +€30,692 | +713% |
| Non-recurring operating income | 76A | - | €8,124 | +€8,124 | |
| Remuneration, social security and pensions | 62 | €3,953 | €25,281 | +€21,328 | +540% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €89,414 | +€89,414 | |
| Other operating charges | 640/8 | €31,631 | €12,617 | -€19,013 | -60.1% |
| Non-recurring operating charges | 66A | €225 | - | -€225 | |
| Gross operating margin | 9900 | €9,161 | -€29,836 | -€38,997 | |
| Operating profit (loss) | 9901 | -€26,648 | -€157,147 | -€130,499 | -490% |
| Financial income | 75/76B | €3,612 | €1 | -€3,611 | -100.0% |
| Recurring financial income | 75 | €3,612 | €1 | -€3,611 | -100.0% |
| Financial charges | 65/66B | €3,476 | €1,939 | -€1,537 | -44.2% |
| Recurring financial charges | 65 | €3,476 | €1,939 | -€1,537 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,512 | -€159,085 | -€132,573 | -500% |
| Income taxes | 67/77 | -€40,781 | - | +€40,781 | |
| Profit (loss) for the period | 9904 | €14,269 | -€159,085 | -€173,355 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,269 | -€159,085 | -€173,355 |
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 22 October 2026 via checked.be.