MVNH: 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.
MVNH
Largest movements
- Cash +€9,536
up €9,536 (+53.5%), from €17,828 to €27,364
mainly Net result for the year (+€22,264) and Depreciation (+€8,949)
- Receivables within one year +€8,104
up €8,104 (+55.8%), from €14,527 to €22,631
of which Trade receivables: +€5,937
- Tangible fixed assets -€6,536
down €6,536 (-23.2%), from €28,134 to €21,598
- Profit (loss) carried forward +€21,405
up €21,405 (+120%), from €17,776 to €39,182
- Debts after one year -€4,081
down €4,081 (-20.1%), from €20,293 to €16,212
- Other debts -€3,558
down €3,558 (-80.6%), from €4,417 to €859
- Trade debts -€1,574
down €1,574 (-47.1%), from €3,339 to €1,765
- Gross operating margin +€1,813
up €1,813 (+4.4%), from €41,317 to €43,131
- Other operating charges -€1,582
down €1,582 (-50.9%), from €3,111 to €1,529
- Depreciation -€1,217
down €1,217 (-12.0%), from €10,166 to €8,949
- Financial charges -€680
down €680 (-31.8%), from €2,141 to €1,461
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 | €61,102 | €72,637 | +€11,535 | +18.9% |
| Fixed assets | 21/28 | €28,134 | €21,598 | -€6,536 | -23.2% |
| Tangible fixed assets | 22/27 | €28,134 | €21,598 | -€6,536 | -23.2% |
| Furniture and vehicles | 24 | €28,134 | €21,598 | -€6,536 | -23.2% |
| Current assets | 29/58 | €32,968 | €51,039 | +€18,071 | +54.8% |
| Amounts receivable within one year | 40/41 | €14,527 | €22,631 | +€8,104 | +55.8% |
| Trade receivables | 40 | €14,527 | €20,464 | +€5,937 | +40.9% |
| Other amounts receivable | 41 | - | €2,167 | +€2,167 | |
| Cash at bank and in hand | 54/58 | €17,828 | €27,364 | +€9,536 | +53.5% |
| Deferred charges and accrued income | 490/1 | €614 | €1,044 | +€431 | +70.2% |
| Total equity and liabilities | 10/49 | €61,102 | €72,637 | +€11,535 | +18.9% |
| Equity | 10/15 | €22,776 | €44,182 | +€21,405 | +94.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,776 | €39,182 | +€21,405 | +120% |
| Amounts payable | 17/49 | €38,325 | €28,456 | -€9,870 | -25.8% |
| Amounts payable after more than one year | 17 | €20,293 | €16,212 | -€4,081 | -20.1% |
| Financial debts | 170/4 | €20,293 | €16,212 | -€4,081 | -20.1% |
| Amounts payable within one year | 42/48 | €18,033 | €12,244 | -€5,789 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €4,652 | €4,440 | -€213 | -4.6% |
| Trade debts | 44 | €3,339 | €1,765 | -€1,574 | -47.1% |
| Suppliers | 440/4 | €3,339 | €1,765 | -€1,574 | -47.1% |
| Taxes, remuneration and social security | 45 | €5,624 | €5,180 | -€444 | -7.9% |
| Taxes | 450/3 | €5,624 | €5,180 | -€444 | -7.9% |
| Other amounts payable | 47/48 | €4,417 | €859 | -€3,558 | -80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,166 | €8,949 | -€1,217 | -12.0% |
| Other operating charges | 640/8 | €3,111 | €1,529 | -€1,582 | -50.9% |
| Non-recurring operating charges | 66A | - | €817 | +€817 | |
| Gross operating margin | 9900 | €41,317 | €43,131 | +€1,813 | +4.4% |
| Operating profit (loss) | 9901 | €28,041 | €31,837 | +€3,796 | +13.5% |
| Financial income | 75/76B | €21 | €63 | +€42 | +199% |
| Recurring financial income | 75 | €21 | €63 | +€42 | +199% |
| Financial charges | 65/66B | €2,141 | €1,461 | -€680 | -31.8% |
| Recurring financial charges | 65 | €2,141 | €1,461 | -€680 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €25,921 | €30,439 | +€4,518 | +17.4% |
| Income taxes | 67/77 | €8,145 | €8,175 | +€30 | +0.4% |
| Profit (loss) for the period | 9904 | €17,776 | €22,264 | +€4,488 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,776 | €22,264 | +€4,488 | +25.2% |
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 14 October 2026 via checked.be.