MVRC: 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.
MVRC
Largest movements
- Receivables within one year +€7,816
up €7,816 (+45.4%), from €17,221 to €25,037
of which Other amounts receivable: +€9,553
- Reserves +€9,971
up €9,971 (+99.9%), from €9,977 to €19,948
- Trade debts -€4,407
down €4,407 (-53.6%), from €8,226 to €3,819
- Tax, wage and social debts +€2,466
up €2,466 (+311.8%), from €791 to €3,257
- Gross operating margin +€9,464
up €9,464 (+164.5%), from €5,754 to €15,218
- Taxes +€1,828
up €1,828 (+231.4%), from €790 to €2,618
- Staff costs +€169
up €169 (+32.2%), from €525 to €694
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 | €19,994 | €28,024 | +€8,030 | +40.2% |
| Fixed assets | 21/28 | €2,562 | €2,612 | +€50 | +2.0% |
| Tangible fixed assets | 22/27 | €2,562 | €2,612 | +€50 | +2.0% |
| Plant, machinery and equipment | 23 | - | €1,110 | +€1,110 | |
| Furniture and vehicles | 24 | €2,562 | €1,502 | -€1,060 | -41.4% |
| Current assets | 29/58 | €17,432 | €25,412 | +€7,980 | +45.8% |
| Amounts receivable within one year | 40/41 | €17,221 | €25,037 | +€7,816 | +45.4% |
| Trade receivables | 40 | €4,640 | €2,903 | -€1,737 | -37.4% |
| Other amounts receivable | 41 | €12,581 | €22,134 | +€9,553 | +75.9% |
| Cash at bank and in hand | 54/58 | €211 | €135 | -€76 | -36.0% |
| Deferred charges and accrued income | 490/1 | - | €240 | +€240 | |
| Total equity and liabilities | 10/49 | €19,994 | €28,024 | +€8,030 | +40.2% |
| Equity | 10/15 | €10,977 | €20,948 | +€9,971 | +90.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €9,977 | €19,948 | +€9,971 | +99.9% |
| Distributable reserves | 133 | €9,977 | €19,948 | +€9,971 | +99.9% |
| Amounts payable | 17/49 | €9,017 | €7,076 | -€1,941 | -21.5% |
| Amounts payable within one year | 42/48 | €9,017 | €7,076 | -€1,941 | -21.5% |
| Trade debts | 44 | €8,226 | €3,819 | -€4,407 | -53.6% |
| Suppliers | 440/4 | €8,226 | €3,819 | -€4,407 | -53.6% |
| Taxes, remuneration and social security | 45 | €791 | €3,257 | +€2,466 | +311.8% |
| Taxes | 450/3 | €791 | €3,257 | +€2,466 | +311.8% |
| Remuneration, social security and pensions | 62 | €525 | €694 | +€169 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,060 | €1,161 | +€101 | +9.5% |
| Other operating charges | 640/8 | €562 | €638 | +€76 | +13.5% |
| Gross operating margin | 9900 | €5,754 | €15,218 | +€9,464 | +164.5% |
| Operating profit (loss) | 9901 | €3,607 | €12,725 | +€9,118 | +252.8% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €193 | €147 | -€46 | -23.8% |
| Recurring financial charges | 65 | €193 | €147 | -€46 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €3,414 | €12,590 | +€9,176 | +268.8% |
| Income taxes | 67/77 | €790 | €2,618 | +€1,828 | +231.4% |
| Profit (loss) for the period | 9904 | €2,624 | €9,972 | +€7,348 | +280.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,624 | €9,972 | +€7,348 | +280.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.