MVO MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year +€66,974
up €66,974 (+16.2%), from €414,310 to €481,284
of which Other amounts receivable: +€36,525
- Tangible fixed assets +€56,342
up €56,342 (+14.5%), from €388,179 to €444,521
of which Plant, machinery and equipment: +€57,801
- Deferred charges and accrued income +€33,628
up €33,628 (+15.1%), from €223,152 to €256,780
- Other debts +€93,945
up €93,945 (+31.7%), from €296,564 to €390,508
- Trade debts +€74,706
up €74,706 (+62.5%), from €119,609 to €194,316
- Tax, wage and social debts -€37,664
down €37,664 (-54.8%), from €68,702 to €31,038
of which Taxes: -€37,967
- Reserves +€21,138
up €21,138 (+4.2%), from €509,079 to €530,217
- Gross operating margin -€76,705
down €76,705 (-33.4%), from €229,580 to €152,875
- Taxes -€26,687
down €26,687 (-73.9%), from €36,118 to €9,431
- Depreciation +€14,691
up €14,691 (+32.1%), from €45,729 to €60,420
- Staff costs -€3,449
down €3,449 (-5.3%), from €64,711 to €61,262
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 | €1,032,041 | €1,184,166 | +€152,125 | +14.7% |
| Fixed assets | 21/28 | €388,539 | €444,881 | +€56,342 | +14.5% |
| Tangible fixed assets | 22/27 | €388,179 | €444,521 | +€56,342 | +14.5% |
| Plant, machinery and equipment | 23 | €384,329 | €442,130 | +€57,801 | +15.0% |
| Furniture and vehicles | 24 | €3,851 | €2,391 | -€1,460 | -37.9% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €643,502 | €739,286 | +€95,784 | +14.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €414,310 | €481,284 | +€66,974 | +16.2% |
| Trade receivables | 40 | €249,690 | €280,139 | +€30,449 | +12.2% |
| Other amounts receivable | 41 | €164,620 | €201,145 | +€36,525 | +22.2% |
| Cash at bank and in hand | 54/58 | €6,039 | €1,221 | -€4,818 | -79.8% |
| Deferred charges and accrued income | 490/1 | €223,152 | €256,780 | +€33,628 | +15.1% |
| Total equity and liabilities | 10/49 | €1,032,041 | €1,184,166 | +€152,125 | +14.7% |
| Equity | 10/15 | €547,166 | €568,304 | +€21,138 | +3.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €509,079 | €530,217 | +€21,138 | +4.2% |
| Distributable reserves | 133 | €509,079 | €530,217 | +€21,138 | +4.2% |
| Profit (loss) carried forward | 14 | €31,887 | €31,887 | = | 0.0% |
| Amounts payable | 17/49 | €484,875 | €615,862 | +€130,987 | +27.0% |
| Amounts payable within one year | 42/48 | €484,875 | €615,862 | +€130,987 | +27.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €119,609 | €194,316 | +€74,706 | +62.5% |
| Suppliers | 440/4 | €119,609 | €194,316 | +€74,706 | +62.5% |
| Taxes, remuneration and social security | 45 | €68,702 | €31,038 | -€37,664 | -54.8% |
| Taxes | 450/3 | €60,247 | €22,280 | -€37,967 | -63.0% |
| Remuneration and social security | 454/9 | €8,455 | €8,757 | +€303 | +3.6% |
| Other amounts payable | 47/48 | €296,564 | €390,508 | +€93,945 | +31.7% |
| Remuneration, social security and pensions | 62 | €64,711 | €61,262 | -€3,449 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,729 | €60,420 | +€14,691 | +32.1% |
| Other operating charges | 640/8 | - | €12 | +€12 | |
| Gross operating margin | 9900 | €229,580 | €152,875 | -€76,705 | -33.4% |
| Operating profit (loss) | 9901 | €119,139 | €31,181 | -€87,958 | -73.8% |
| Financial charges | 65/66B | €1,051 | €612 | -€439 | -41.7% |
| Recurring financial charges | 65 | €1,051 | €612 | -€439 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €118,088 | €30,569 | -€87,519 | -74.1% |
| Income taxes | 67/77 | €36,118 | €9,431 | -€26,687 | -73.9% |
| Profit (loss) for the period | 9904 | €81,971 | €21,138 | -€60,832 | -74.2% |
| Profit (loss) for the period to be appropriated | 9905 | €81,971 | €21,138 | -€60,832 | -74.2% |
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 23 October 2026 via checked.be.