MVT MANAGEMENT: 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.
MVT MANAGEMENT
Largest movements
- Tangible fixed assets -€72,252
down €72,252 (-4.1%), from €1.8m to €1.7m
of which Land and buildings: -€66,273
- Receivables within one year -€32,444
down €32,444 (-35.0%), from €92,818 to €60,374
of which Other amounts receivable: -€22,000
- Short-term financial debts -€61,000
down €61,000 (-100.0%), from €61,000 to €0
- Debts after one year -€44,684
down €44,684 (-10.3%), from €433,431 to €388,747
- Reserves -€43,267
down €43,267 (-4.6%), from €934,983 to €891,715
of which Distributable reserves: -€22,066
- Other debts +€32,950
up €32,950 (+25.1%), from €131,018 to €163,969
- Other operating charges -€10,517
down €10,517 (-36.4%), from €28,916 to €18,399
- Gross operating margin -€7,722
down €7,722 (-11.8%), from €65,712 to €57,990
- Financial income -€7,564
down €7,564 (-86.8%), from €8,716 to €1,152
- Financial charges -€4,655
down €4,655 (-21.4%), from €21,713 to €17,058
- Depreciation +€950
up €950 (+1.3%), from €71,302 to €72,252
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 | €1,878,992 | €1,763,285 | -€115,707 | -6.2% |
| Fixed assets | 21/28 | €1,769,237 | €1,696,984 | -€72,252 | -4.1% |
| Tangible fixed assets | 22/27 | €1,769,237 | €1,696,984 | -€72,252 | -4.1% |
| Land and buildings | 22 | €1,735,819 | €1,669,546 | -€66,273 | -3.8% |
| Plant, machinery and equipment | 23 | €1,510 | €809 | -€701 | -46.4% |
| Furniture and vehicles | 24 | €13,650 | €10,250 | -€3,400 | -24.9% |
| Other tangible fixed assets | 26 | €18,258 | €16,380 | -€1,878 | -10.3% |
| Current assets | 29/58 | €109,755 | €66,301 | -€43,454 | -39.6% |
| Amounts receivable within one year | 40/41 | €92,818 | €60,374 | -€32,444 | -35.0% |
| Trade receivables | 40 | €13,818 | €3,374 | -€10,444 | -75.6% |
| Other amounts receivable | 41 | €79,000 | €57,000 | -€22,000 | -27.8% |
| Cash at bank and in hand | 54/58 | €2,538 | €3,038 | +€500 | +19.7% |
| Deferred charges and accrued income | 490/1 | €14,399 | €2,888 | -€11,511 | -79.9% |
| Total equity and liabilities | 10/49 | €1,878,992 | €1,763,285 | -€115,707 | -6.2% |
| Equity | 10/15 | €1,009,983 | €966,715 | -€43,267 | -4.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €934,983 | €891,715 | -€43,267 | -4.6% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €382,906 | €361,705 | -€21,201 | -5.5% |
| Distributable reserves | 133 | €544,577 | €522,511 | -€22,066 | -4.1% |
| Provisions and deferred taxes | 16 | €127,635 | €122,335 | -€5,300 | -4.2% |
| Deferred taxes | 168 | €127,635 | €122,335 | -€5,300 | -4.2% |
| Amounts payable | 17/49 | €741,374 | €674,235 | -€67,139 | -9.1% |
| Amounts payable after more than one year | 17 | €433,431 | €388,747 | -€44,684 | -10.3% |
| Financial debts | 170/4 | €433,431 | €388,747 | -€44,684 | -10.3% |
| Amounts payable within one year | 42/48 | €307,393 | €279,887 | -€27,506 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €91,648 | €93,684 | +€2,037 | +2.2% |
| Financial debts | 43 | €61,000 | €0 | -€61,000 | -100.0% |
| Other loans | 439 | €61,000 | €0 | -€61,000 | -100.0% |
| Trade debts | 44 | €23,180 | €21,961 | -€1,218 | -5.3% |
| Suppliers | 440/4 | €23,180 | €21,961 | -€1,218 | -5.3% |
| Taxes, remuneration and social security | 45 | €548 | €273 | -€275 | -50.1% |
| Taxes | 450/3 | €548 | €273 | -€275 | -50.1% |
| Other amounts payable | 47/48 | €131,018 | €163,969 | +€32,950 | +25.1% |
| Accrued charges and deferred income | 492/3 | €550 | €5,601 | +€5,051 | +918.8% |
| Non-recurring operating income | 76A | €18,830 | €0 | -€18,830 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,302 | €72,252 | +€950 | +1.3% |
| Other operating charges | 640/8 | €28,916 | €18,399 | -€10,517 | -36.4% |
| Non-recurring operating charges | 66A | €30,212 | €0 | -€30,212 | -100.0% |
| Gross operating margin | 9900 | €65,712 | €57,990 | -€7,722 | -11.8% |
| Operating profit (loss) | 9901 | -€64,718 | -€32,662 | +€32,057 | +49.5% |
| Financial income | 75/76B | €8,716 | €1,152 | -€7,564 | -86.8% |
| Recurring financial income | 75 | €8,716 | €1,152 | -€7,564 | -86.8% |
| Financial charges | 65/66B | €21,713 | €17,058 | -€4,655 | -21.4% |
| Recurring financial charges | 65 | €21,713 | €17,058 | -€4,655 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€77,715 | -€48,568 | +€29,147 | +37.5% |
| Transfer from deferred taxes | 780 | €6,262 | €5,300 | -€961 | -15.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€71,453 | -€43,267 | +€28,186 | +39.4% |
| Transfer from tax-exempt reserves | 789 | €18,785 | €21,201 | +€2,417 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,669 | -€22,066 | +€30,603 | +58.1% |
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 8 October 2026 via checked.be.