MVS-SECURITY: 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.
MVS-SECURITY
Largest movements
- Cash -€43,874
down €43,874 (-22.5%), from €195,128 to €151,254
mainly Investment in fixed assets (net) (-€43,984) and Receivables within one year (-€15,862)
- Tangible fixed assets +€22,048
up €22,048 (+21.7%), from €101,689 to €123,736
of which Furniture and vehicles: +€19,618
- Receivables within one year +€15,862
up €15,862 (+188.6%), from €8,409 to €24,271
of which Trade receivables: +€10,850
- Deferred charges and accrued income -€3,270
down €3,270 (-50.6%), from €6,464 to €3,193
- Trade debts -€11,385
down €11,385 (-93.4%), from €12,184 to €799
- Gross operating margin -€29,749
down €29,749 (-40.7%), from €73,083 to €43,334
- Taxes -€10,845
down €10,845 (-76.3%), from €14,222 to €3,377
- Depreciation +€5,668
up €5,668 (+34.8%), from €16,268 to €21,936
- Other operating charges -€2,214
down €2,214 (-73.6%), from €3,008 to €794
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 | €316,887 | €308,417 | -€8,471 | -2.7% |
| Fixed assets | 21/28 | €101,739 | €123,786 | +€22,048 | +21.7% |
| Tangible fixed assets | 22/27 | €101,689 | €123,736 | +€22,048 | +21.7% |
| Plant, machinery and equipment | 23 | €2,634 | €2,739 | +€105 | +4.0% |
| Furniture and vehicles | 24 | €98,112 | €117,730 | +€19,618 | +20.0% |
| Other tangible fixed assets | 26 | €942 | €3,267 | +€2,325 | +246.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €215,149 | €184,630 | -€30,519 | -14.2% |
| Stocks and contracts in progress | 3 | €5,148 | €5,912 | +€764 | +14.8% |
| Stocks | 30/36 | €5,148 | €5,912 | +€764 | +14.8% |
| Amounts receivable within one year | 40/41 | €8,409 | €24,271 | +€15,862 | +188.6% |
| Trade receivables | 40 | - | €10,850 | +€10,850 | |
| Other amounts receivable | 41 | €8,409 | €13,421 | +€5,012 | +59.6% |
| Cash at bank and in hand | 54/58 | €195,128 | €151,254 | -€43,874 | -22.5% |
| Deferred charges and accrued income | 490/1 | €6,464 | €3,193 | -€3,270 | -50.6% |
| Total equity and liabilities | 10/49 | €316,887 | €308,417 | -€8,471 | -2.7% |
| Equity | 10/15 | €295,920 | €298,906 | +€2,986 | +1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €289,360 | €292,360 | +€3,000 | +1.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €287,500 | €290,500 | +€3,000 | +1.0% |
| Profit (loss) carried forward | 14 | €360 | €346 | -€14 | -3.8% |
| Amounts payable | 17/49 | €20,968 | €9,511 | -€11,457 | -54.6% |
| Amounts payable within one year | 42/48 | €20,968 | €9,511 | -€11,457 | -54.6% |
| Trade debts | 44 | €12,184 | €799 | -€11,385 | -93.4% |
| Suppliers | 440/4 | €12,184 | €799 | -€11,385 | -93.4% |
| Taxes, remuneration and social security | 45 | €8,784 | €8,712 | -€72 | -0.8% |
| Taxes | 450/3 | €7,504 | €7,353 | -€150 | -2.0% |
| Remuneration and social security | 454/9 | €1,280 | €1,359 | +€79 | +6.1% |
| Remuneration, social security and pensions | 62 | €9,405 | €9,798 | +€392 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,268 | €21,936 | +€5,668 | +34.8% |
| Other operating charges | 640/8 | €3,008 | €794 | -€2,214 | -73.6% |
| Non-recurring operating charges | 66A | €424 | - | -€424 | |
| Gross operating margin | 9900 | €73,083 | €43,334 | -€29,749 | -40.7% |
| Operating profit (loss) | 9901 | €43,977 | €10,806 | -€33,171 | -75.4% |
| Financial income | 75/76B | €1 | €11 | +€10 | +859.8% |
| Recurring financial income | 75 | €1 | €11 | +€10 | +859.8% |
| Financial charges | 65/66B | €344 | €169 | -€175 | -51.0% |
| Recurring financial charges | 65 | €344 | €169 | -€175 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €43,634 | €10,649 | -€32,985 | -75.6% |
| Income taxes | 67/77 | €14,222 | €3,377 | -€10,845 | -76.3% |
| Profit (loss) for the period | 9904 | €29,412 | €7,272 | -€22,140 | -75.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,412 | €7,272 | -€22,140 | -75.3% |
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 1 October 2026 via checked.be.