MVO: 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.
MVO
Largest movements
- Cash -€7,210
down €7,210 (-91.3%), from €7,901 to €691
mainly Investment in fixed assets (net) (-€5,874) and Receivables within one year (-€4,849)
- Receivables within one year +€4,849
up €4,849 (+12.5%), from €38,666 to €43,516
of which Trade receivables: +€4,529
- Tangible fixed assets +€4,685
up €4,685 (+667.5%), from €702 to €5,387
of which Other tangible fixed assets: +€3,484
- Profit (loss) carried forward +€5,786
up €5,786 (+27.3%), from €21,158 to €26,944
- Trade debts -€3,061
down €3,061 (-96.8%), from €3,161 to €100
- Gross operating margin +€11,411
up €11,411, from -€4,036 to €7,375
- Depreciation +€369
up €369 (+45.0%), from €820 to €1,189
- Other operating charges -€83
down €83 (-17.1%), from €482 to €400
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 | €47,269 | €49,676 | +€2,407 | +5.1% |
| Fixed assets | 21/28 | €702 | €5,387 | +€4,685 | +667.5% |
| Tangible fixed assets | 22/27 | €702 | €5,387 | +€4,685 | +667.5% |
| Furniture and vehicles | 24 | €702 | €1,903 | +€1,201 | +171.1% |
| Other tangible fixed assets | 26 | - | €3,484 | +€3,484 | |
| Current assets | 29/58 | €46,567 | €44,289 | -€2,278 | -4.9% |
| Amounts receivable within one year | 40/41 | €38,666 | €43,516 | +€4,849 | +12.5% |
| Trade receivables | 40 | €2,864 | €7,393 | +€4,529 | +158.1% |
| Other amounts receivable | 41 | €35,802 | €36,122 | +€321 | +0.9% |
| Cash at bank and in hand | 54/58 | €7,901 | €691 | -€7,210 | -91.3% |
| Deferred charges and accrued income | 490/1 | - | €83 | +€83 | |
| Total equity and liabilities | 10/49 | €47,269 | €49,676 | +€2,407 | +5.1% |
| Equity | 10/15 | €41,618 | €47,404 | +€5,786 | +13.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,158 | €26,944 | +€5,786 | +27.3% |
| Amounts payable | 17/49 | €5,651 | €2,272 | -€3,379 | -59.8% |
| Amounts payable within one year | 42/48 | €5,651 | €2,149 | -€3,502 | -62.0% |
| Trade debts | 44 | €3,161 | €100 | -€3,061 | -96.8% |
| Suppliers | 440/4 | €3,161 | €100 | -€3,061 | -96.8% |
| Taxes, remuneration and social security | 45 | €2,490 | €2,050 | -€440 | -17.7% |
| Taxes | 450/3 | €2,490 | €2,050 | -€440 | -17.7% |
| Accrued charges and deferred income | 492/3 | - | €122 | +€122 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €820 | €1,189 | +€369 | +45.0% |
| Other operating charges | 640/8 | €482 | €400 | -€83 | -17.1% |
| Gross operating margin | 9900 | -€4,036 | €7,375 | +€11,411 | |
| Operating profit (loss) | 9901 | -€5,338 | €5,787 | +€11,125 | |
| Financial charges | 65/66B | - | €0 | +€0 | |
| Recurring financial charges | 65 | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | -€5,338 | €5,786 | +€11,124 | |
| Profit (loss) for the period | 9904 | -€5,338 | €5,786 | +€11,124 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,338 | €5,786 | +€11,124 |
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 11 October 2026 via checked.be.