MVR1: 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.
MVR1
Largest movements
- Tangible fixed assets -€323,121
down €323,121 (-19.6%), from €1.6m to €1.3m
of which Other tangible fixed assets: -€297,562
- Cash +€160,516
up €160,516 (+31.4%), from €511,436 to €671,952
mainly Other debts (+€612,908) and Net result for the year (+€361,802)
- Receivables within one year -€66,604
down €66,604 (-71.4%), from €93,269 to €26,665
of which Trade receivables: -€63,487
- Receivables after one year +€41,984
up €41,984 (+3.7%), from €1.1m to €1.2m
- Other debts +€612,908
up €612,908 (+404.5%), from €151,525 to €764,433
- Reserves -€412,814
down €412,814 (-40.8%), from €1.0m to €600,000
- Debts after one year -€328,347
down €328,347 (-34.7%), from €946,901 to €618,555
- Tax, wage and social debts -€52,949
down €52,949 (-17.7%), from €299,117 to €246,168
of which Taxes: -€54,653
- Gross operating margin +€141,302
up €141,302 (+9.0%), from €1.6m to €1.7m
- Taxes +€55,508
up €55,508 (+70.3%), from €79,014 to €134,522
- Staff costs -€21,732
down €21,732 (-2.5%), from €855,121 to €833,389
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 | €3,757,766 | €3,547,330 | -€210,435 | -5.6% |
| Fixed assets | 21/28 | €1,646,926 | €1,323,805 | -€323,121 | -19.6% |
| Tangible fixed assets | 22/27 | €1,646,926 | €1,323,805 | -€323,121 | -19.6% |
| Plant, machinery and equipment | 23 | €23,457 | €24,087 | +€630 | +2.7% |
| Furniture and vehicles | 24 | €81,521 | €55,332 | -€26,189 | -32.1% |
| Other tangible fixed assets | 26 | €1,541,948 | €1,244,386 | -€297,562 | -19.3% |
| Current assets | 29/58 | €2,110,839 | €2,223,525 | +€112,686 | +5.3% |
| Amounts receivable after more than one year | 29 | €1,146,863 | €1,188,847 | +€41,984 | +3.7% |
| Other amounts receivable | 291 | €1,146,863 | €1,188,847 | +€41,984 | +3.7% |
| Stocks and contracts in progress | 3 | €311,831 | €282,379 | -€29,452 | -9.4% |
| Stocks | 30/36 | €311,831 | €282,379 | -€29,452 | -9.4% |
| Amounts receivable within one year | 40/41 | €93,269 | €26,665 | -€66,604 | -71.4% |
| Trade receivables | 40 | €90,002 | €26,515 | -€63,487 | -70.5% |
| Other amounts receivable | 41 | €3,267 | €149 | -€3,117 | -95.4% |
| Cash at bank and in hand | 54/58 | €511,436 | €671,952 | +€160,516 | +31.4% |
| Deferred charges and accrued income | 490/1 | €47,441 | €53,683 | +€6,242 | +13.2% |
| Total equity and liabilities | 10/49 | €3,757,766 | €3,547,330 | -€210,435 | -5.6% |
| Equity | 10/15 | €1,212,814 | €800,000 | -€412,814 | -34.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,012,814 | €600,000 | -€412,814 | -40.8% |
| Distributable reserves | 133 | €1,012,814 | €600,000 | -€412,814 | -40.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,544,952 | €2,747,330 | +€202,378 | +8.0% |
| Amounts payable after more than one year | 17 | €946,901 | €618,555 | -€328,347 | -34.7% |
| Financial debts | 170/4 | €946,901 | €618,555 | -€328,347 | -34.7% |
| Amounts payable within one year | 42/48 | €1,586,998 | €2,117,075 | +€530,077 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €322,748 | €328,347 | +€5,599 | +1.7% |
| Trade debts | 44 | €813,608 | €778,127 | -€35,481 | -4.4% |
| Suppliers | 440/4 | €813,608 | €778,127 | -€35,481 | -4.4% |
| Taxes, remuneration and social security | 45 | €299,117 | €246,168 | -€52,949 | -17.7% |
| Taxes | 450/3 | €148,047 | €93,394 | -€54,653 | -36.9% |
| Remuneration and social security | 454/9 | €151,070 | €152,774 | +€1,704 | +1.1% |
| Other amounts payable | 47/48 | €151,525 | €764,433 | +€612,908 | +404.5% |
| Accrued charges and deferred income | 492/3 | €11,052 | €11,701 | +€648 | +5.9% |
| Remuneration, social security and pensions | 62 | €855,121 | €833,389 | -€21,732 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €351,549 | €355,585 | +€4,036 | +1.1% |
| Other operating charges | 640/8 | €6,496 | €6,258 | -€238 | -3.7% |
| Gross operating margin | 9900 | €1,564,409 | €1,705,711 | +€141,302 | +9.0% |
| Operating profit (loss) | 9901 | €351,243 | €510,479 | +€159,236 | +45.3% |
| Financial income | 75/76B | €44,427 | €45,975 | +€1,548 | +3.5% |
| Recurring financial income | 75 | €44,427 | €45,975 | +€1,548 | +3.5% |
| Financial charges | 65/66B | €71,382 | €60,131 | -€11,251 | -15.8% |
| Recurring financial charges | 65 | €71,382 | €60,131 | -€11,251 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €324,288 | €496,324 | +€172,036 | +53.1% |
| Income taxes | 67/77 | €79,014 | €134,522 | +€55,508 | +70.3% |
| Profit (loss) for the period | 9904 | €245,274 | €361,802 | +€116,528 | +47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €245,274 | €361,802 | +€116,528 | +47.5% |
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 4 October 2026 via checked.be.