MVR: what changed
Two fiscal 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.
MVR
Largest movements
- Cash -€24,252
down €24,252 (-3.9%), from €622,970 to €598,718
mainly Receivables within one year (-€21,195) and Tax, wage and social debts (-€5,481)
- Receivables within one year +€21,195
up €21,195 (+43.3%), from €48,927 to €70,122
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€62,536
down €62,536, from €62,448 to -€88
- Taxes -€5,481
down €5,481 (-100.0%), from €5,481 to €0
- Financial income +€3,195
up €3,195, from €0 to €3,195
- Other operating charges -€684
down €684 (-63.1%), from €1,084 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 | €734,146 | €731,089 | -€3,057 | -0.4% |
| Fixed assets | 21/28 | €62,250 | €62,250 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Financial fixed assets | 28 | €62,250 | €62,250 | = | 0.0% |
| Current assets | 29/58 | €671,896 | €668,839 | -€3,057 | -0.5% |
| Amounts receivable within one year | 40/41 | €48,927 | €70,122 | +€21,195 | +43.3% |
| Other amounts receivable | 41 | €48,927 | €70,122 | +€21,195 | +43.3% |
| Cash at bank and in hand | 54/58 | €622,970 | €598,718 | -€24,252 | -3.9% |
| Total equity and liabilities | 10/49 | €734,146 | €731,089 | -€3,057 | -0.4% |
| Equity | 10/15 | €637,993 | €639,543 | +€1,551 | +0.2% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €575,493 | €577,043 | +€1,551 | +0.3% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €569,243 | €570,793 | +€1,551 | +0.3% |
| Amounts payable | 17/49 | €96,154 | €91,546 | -€4,608 | -4.8% |
| Amounts payable within one year | 42/48 | €95,769 | €91,184 | -€4,585 | -4.8% |
| Trade debts | 44 | €709 | €709 | = | 0.0% |
| Suppliers | 440/4 | €709 | €709 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,481 | €0 | -€5,481 | -100.0% |
| Taxes | 450/3 | €5,481 | €0 | -€5,481 | -100.0% |
| Other amounts payable | 47/48 | €89,580 | €90,476 | +€896 | +1.0% |
| Accrued charges and deferred income | 492/3 | €384 | €362 | -€23 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,084 | €400 | -€684 | -63.1% |
| Gross operating margin | 9900 | €62,448 | -€88 | -€62,536 | |
| Operating profit (loss) | 9901 | €61,364 | -€487 | -€61,851 | |
| Financial income | 75/76B | €0 | €3,195 | +€3,195 | |
| Recurring financial income | 75 | €0 | €3,195 | +€3,195 | |
| Financial charges | 65/66B | €1,077 | €1,157 | +€80 | +7.5% |
| Recurring financial charges | 65 | €1,077 | €1,157 | +€80 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €60,287 | €1,551 | -€58,737 | -97.4% |
| Income taxes | 67/77 | €5,481 | €0 | -€5,481 | -100.0% |
| Profit (loss) for the period | 9904 | €54,807 | €1,551 | -€53,256 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,807 | €1,551 | -€53,256 | -97.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.