MVRH 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.
MVRH MANAGEMENT
Largest movements
- Financial fixed assets +€7,000
up €7,000 (+77.8%), from €9,000 to €16,000
- Cash -€4,682
down €4,682 (-99.9%), from €4,686 to €4
mainly Tax, wage and social debts (-€9,624) and Investment in fixed assets (net) (-€7,000)
- Receivables within one year -€3,609
down €3,609 (-58.9%), from €6,128 to €2,519
of which Trade receivables: -€4,194
- Deferred charges and accrued income -€777
down €777 (-75.1%), from €1,035 to €258
- Tangible fixed assets -€464
down €464 (-43.0%), from €1,078 to €614
- Other debts +€10,047
up €10,047 (+243%), from €4,133 to €14,180
- Tax, wage and social debts -€9,624
down €9,624 (-92.0%), from €10,458 to €834
- Profit (loss) carried forward -€4,645
down €4,645, from €2,916 to -€1,729
- Trade debts +€1,691
up €1,691 (+119%), from €1,420 to €3,111
- Write-downs +€5,000
new in 2025: €5,000
- Gross operating margin +€2,174
up €2,174, from -€542 to €1,632
- Taxes -€500
down €500 (-75.2%), from €665 to €165
- Depreciation +€151
up €151 (+48.2%), from €313 to €464
- Other operating charges -€95
down €95 (-18.5%), from €514 to €419
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 | €21,927 | €19,396 | -€2,531 | -11.5% |
| Fixed assets | 21/28 | €10,078 | €16,614 | +€6,536 | +64.9% |
| Tangible fixed assets | 22/27 | €1,078 | €614 | -€464 | -43.0% |
| Furniture and vehicles | 24 | €1,078 | €614 | -€464 | -43.0% |
| Financial fixed assets | 28 | €9,000 | €16,000 | +€7,000 | +77.8% |
| Current assets | 29/58 | €11,849 | €2,781 | -€9,068 | -76.5% |
| Amounts receivable within one year | 40/41 | €6,128 | €2,519 | -€3,609 | -58.9% |
| Trade receivables | 40 | €6,128 | €1,934 | -€4,194 | -68.4% |
| Other amounts receivable | 41 | - | €585 | +€585 | |
| Cash at bank and in hand | 54/58 | €4,686 | €4 | -€4,682 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,035 | €258 | -€777 | -75.1% |
| Total equity and liabilities | 10/49 | €21,927 | €19,396 | -€2,531 | -11.5% |
| Equity | 10/15 | €5,916 | €1,271 | -€4,645 | -78.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,916 | -€1,729 | -€4,645 | |
| Amounts payable | 17/49 | €16,011 | €18,125 | +€2,114 | +13.2% |
| Amounts payable within one year | 42/48 | €16,011 | €18,125 | +€2,114 | +13.2% |
| Trade debts | 44 | €1,420 | €3,111 | +€1,691 | +119% |
| Suppliers | 440/4 | €1,420 | €3,111 | +€1,691 | +119% |
| Taxes, remuneration and social security | 45 | €10,458 | €834 | -€9,624 | -92.0% |
| Taxes | 450/3 | €10,458 | €834 | -€9,624 | -92.0% |
| Other amounts payable | 47/48 | €4,133 | €14,180 | +€10,047 | +243% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313 | €464 | +€151 | +48.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €514 | €419 | -€95 | -18.5% |
| Gross operating margin | 9900 | -€542 | €1,632 | +€2,174 | |
| Operating profit (loss) | 9901 | -€1,369 | -€4,251 | -€2,882 | -210% |
| Financial charges | 65/66B | €141 | €229 | +€88 | +62.4% |
| Recurring financial charges | 65 | €141 | €229 | +€88 | +62.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,510 | -€4,480 | -€2,970 | -197% |
| Income taxes | 67/77 | €665 | €165 | -€500 | -75.2% |
| Profit (loss) for the period | 9904 | -€2,176 | -€4,645 | -€2,469 | -113% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,176 | -€4,645 | -€2,469 | -113% |
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 21 October 2026 via checked.be.