MVS-Invest: 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.
MVS-Invest
Largest movements
- Deferred charges and accrued income +€124,000
new in 2025: €124,000
- Stocks and contracts +€123,794
up €123,794 (+31.3%), from €395,174 to €518,968
- Cash +€25,806
up €25,806 (+821%), from €3,143 to €28,949
mainly Short-term financial debts (+€204,884) and Debts after one year (+€56,916)
- Receivables within one year -€11,449
no longer reported in 2025 (was €11,449)
- Short-term financial debts +€204,884
up €204,884 (+58.5%), from €350,000 to €554,884
of which Other loans: +€129,884
- Debts after one year +€56,916
up €56,916 (+410%), from €13,884 to €70,800
- Profit (loss) carried forward -€22,458
down €22,458 (-278%), from -€8,064 to -€30,523
- Other debts +€21,357
new in 2025: €21,357
- Gross operating margin -€54,257
down €54,257, from €54,172 to -€85
- Financial charges -€28,511
down €28,511 (-56.3%), from €50,614 to €22,103
- Other operating charges -€1,080
down €1,080 (-80.0%), from €1,350 to €270
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 | €409,766 | €671,917 | +€262,151 | +64.0% |
| Current assets | 29/58 | €409,766 | €671,917 | +€262,151 | +64.0% |
| Stocks and contracts in progress | 3 | €395,174 | €518,968 | +€123,794 | +31.3% |
| Stocks | 30/36 | €395,174 | €518,968 | +€123,794 | +31.3% |
| Amounts receivable within one year | 40/41 | €11,449 | - | -€11,449 | |
| Other amounts receivable | 41 | €11,449 | - | -€11,449 | |
| Cash at bank and in hand | 54/58 | €3,143 | €28,949 | +€25,806 | +821% |
| Deferred charges and accrued income | 490/1 | - | €124,000 | +€124,000 | |
| Total equity and liabilities | 10/49 | €409,766 | €671,917 | +€262,151 | +64.0% |
| Equity | 10/15 | €10,536 | -€11,923 | -€22,458 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,064 | -€30,523 | -€22,458 | -278% |
| Amounts payable | 17/49 | €399,231 | €683,840 | +€284,610 | +71.3% |
| Amounts payable after more than one year | 17 | €13,884 | €70,800 | +€56,916 | +410% |
| Financial debts | 170/4 | €13,884 | €70,800 | +€56,916 | +410% |
| Amounts payable within one year | 42/48 | €385,346 | €613,040 | +€227,694 | +59.1% |
| Financial debts | 43 | €350,000 | €554,884 | +€204,884 | +58.5% |
| Credit institutions | 430/8 | €250,000 | €325,000 | +€75,000 | +30.0% |
| Other loans | 439 | €100,000 | €229,884 | +€129,884 | +130% |
| Trade debts | 44 | €35,239 | €32,235 | -€3,003 | -8.5% |
| Suppliers | 440/4 | €35,239 | €32,235 | -€3,003 | -8.5% |
| Taxes, remuneration and social security | 45 | €107 | €4,564 | +€4,457 | +4,149% |
| Taxes | 450/3 | €107 | €4,564 | +€4,457 | +4,149% |
| Other amounts payable | 47/48 | - | €21,357 | +€21,357 | |
| Other operating charges | 640/8 | €1,350 | €270 | -€1,080 | -80.0% |
| Gross operating margin | 9900 | €54,172 | -€85 | -€54,257 | |
| Operating profit (loss) | 9901 | €52,822 | -€355 | -€53,177 | |
| Financial income | 75/76B | €85 | - | -€85 | |
| Recurring financial income | 75 | €85 | - | -€85 | |
| Financial charges | 65/66B | €50,614 | €22,103 | -€28,511 | -56.3% |
| Recurring financial charges | 65 | €50,614 | €22,103 | -€28,511 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €2,293 | -€22,458 | -€24,751 | |
| Profit (loss) for the period | 9904 | €2,293 | -€22,458 | -€24,751 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,293 | -€22,458 | -€24,751 |
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 30 October 2026 via checked.be.