MVMS: 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.
MVMS
Largest movements
- Cash +€47,014
up €47,014 (+43.9%), from €107,122 to €154,136
mainly Net result for the year (+€26,974) and Depreciation (+€24,274)
- Receivables within one year -€10,534
down €10,534 (-73.4%), from €14,359 to €3,824
of which Trade receivables: -€8,624
- Reserves +€26,974
up €26,974 (+29.4%), from €91,811 to €118,785
- Trade debts +€12,565
up €12,565 (+187%), from €6,718 to €19,283
- Other debts +€5,196
up €5,196 (+20.0%), from €25,994 to €31,190
- Tax, wage and social debts -€4,081
down €4,081 (-44.2%), from €9,225 to €5,144
of which Taxes: -€5,064
- Gross operating margin -€11,692
down €11,692 (-14.3%), from €81,655 to €69,964
- Taxes -€5,767
down €5,767 (-29.4%), from €19,632 to €13,865
- Depreciation +€4,228
up €4,228 (+21.1%), from €20,046 to €24,274
- Other operating charges +€1,601
up €1,601 (+131%), from €1,226 to €2,827
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 | €224,854 | €261,636 | +€36,782 | +16.4% |
| Fixed assets | 21/28 | €97,024 | €96,957 | -€67 | -0.1% |
| Tangible fixed assets | 22/27 | €93,924 | €93,857 | -€67 | -0.1% |
| Plant, machinery and equipment | 23 | €40,039 | €44,694 | +€4,656 | +11.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €53,885 | €49,163 | -€4,722 | -8.8% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €127,831 | €164,679 | +€36,848 | +28.8% |
| Stocks and contracts in progress | 3 | €2,963 | €3,226 | +€263 | +8.9% |
| Stocks | 30/36 | €2,963 | €3,226 | +€263 | +8.9% |
| Amounts receivable within one year | 40/41 | €14,359 | €3,824 | -€10,534 | -73.4% |
| Trade receivables | 40 | €10,814 | €2,189 | -€8,624 | -79.8% |
| Other amounts receivable | 41 | €3,545 | €1,635 | -€1,910 | -53.9% |
| Cash at bank and in hand | 54/58 | €107,122 | €154,136 | +€47,014 | +43.9% |
| Deferred charges and accrued income | 490/1 | €3,387 | €3,492 | +€105 | +3.1% |
| Total equity and liabilities | 10/49 | €224,854 | €261,636 | +€36,782 | +16.4% |
| Equity | 10/15 | €170,562 | €197,536 | +€26,974 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,811 | €118,785 | +€26,974 | +29.4% |
| Distributable reserves | 133 | €91,811 | €118,785 | +€26,974 | +29.4% |
| Profit (loss) carried forward | 14 | €60,150 | €60,150 | = | 0.0% |
| Amounts payable | 17/49 | €54,293 | €64,100 | +€9,808 | +18.1% |
| Amounts payable after more than one year | 17 | €1,984 | - | -€1,984 | |
| Financial debts | 170/4 | €1,984 | - | -€1,984 | |
| Amounts payable within one year | 42/48 | €52,309 | €64,100 | +€11,792 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €10,372 | €8,484 | -€1,888 | -18.2% |
| Trade debts | 44 | €6,718 | €19,283 | +€12,565 | +187% |
| Suppliers | 440/4 | €6,718 | €19,283 | +€12,565 | +187% |
| Taxes, remuneration and social security | 45 | €9,225 | €5,144 | -€4,081 | -44.2% |
| Taxes | 450/3 | €9,225 | €4,161 | -€5,064 | -54.9% |
| Remuneration and social security | 454/9 | €0 | €983 | +€983 | |
| Other amounts payable | 47/48 | €25,994 | €31,190 | +€5,196 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,046 | €24,274 | +€4,228 | +21.1% |
| Other operating charges | 640/8 | €1,226 | €2,827 | +€1,601 | +131% |
| Gross operating margin | 9900 | €81,655 | €69,964 | -€11,692 | -14.3% |
| Operating profit (loss) | 9901 | €60,384 | €42,863 | -€17,521 | -29.0% |
| Financial income | 75/76B | €191 | €4 | -€186 | -97.7% |
| Recurring financial income | 75 | €191 | €4 | -€186 | -97.7% |
| Financial charges | 65/66B | €2,429 | €2,029 | -€400 | -16.5% |
| Recurring financial charges | 65 | €2,429 | €2,029 | -€400 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €58,146 | €40,839 | -€17,307 | -29.8% |
| Income taxes | 67/77 | €19,632 | €13,865 | -€5,767 | -29.4% |
| Profit (loss) for the period | 9904 | €38,514 | €26,974 | -€11,540 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,514 | €26,974 | -€11,540 | -30.0% |
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 16 October 2026 via checked.be.