MVT Projects: 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.
MVT Projects
Largest movements
- Receivables within one year +€13,553
up €13,553 (+779.7%), from €1,738 to €15,291
- Tangible fixed assets -€6,176
down €6,176 (-4.4%), from €140,410 to €134,234
of which Land and buildings: -€3,417
- Cash -€3,253
down €3,253 (-27.5%), from €11,835 to €8,583
mainly Contributions, distributions and other (-€45,500) and Receivables within one year (-€13,553)
- Other debts +€41,148
up €41,148 (+681.1%), from €6,042 to €47,190
- Reserves -€30,939
down €30,939 (-22.8%), from €135,701 to €104,762
- Tax, wage and social debts -€8,298
down €8,298 (-55.4%), from €14,968 to €6,670
- Short-term financial debts +€1,683
new in 2025: €1,683
- Gross operating margin -€27,637
down €27,637 (-50.2%), from €55,035 to €27,398
- Taxes -€6,152
down €6,152 (-59.4%), from €10,350 to €4,198
- Depreciation +€1,603
up €1,603 (+31.1%), from €5,154 to €6,756
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 | €158,668 | €162,145 | +€3,478 | +2.2% |
| Fixed assets | 21/28 | €140,410 | €134,234 | -€6,176 | -4.4% |
| Tangible fixed assets | 22/27 | €140,410 | €134,234 | -€6,176 | -4.4% |
| Land and buildings | 22 | €130,770 | €127,353 | -€3,417 | -2.6% |
| Furniture and vehicles | 24 | €9,641 | €6,881 | -€2,759 | -28.6% |
| Current assets | 29/58 | €18,257 | €27,911 | +€9,654 | +52.9% |
| Amounts receivable within one year | 40/41 | €1,738 | €15,291 | +€13,553 | +779.7% |
| Other amounts receivable | 41 | €1,738 | €15,291 | +€13,553 | +779.7% |
| Cash at bank and in hand | 54/58 | €11,835 | €8,583 | -€3,253 | -27.5% |
| Deferred charges and accrued income | 490/1 | €4,684 | €4,038 | -€646 | -13.8% |
| Total equity and liabilities | 10/49 | €158,668 | €162,145 | +€3,478 | +2.2% |
| Equity | 10/15 | €136,701 | €105,762 | -€30,939 | -22.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €135,701 | €104,762 | -€30,939 | -22.8% |
| Distributable reserves | 133 | €135,701 | €104,762 | -€30,939 | -22.8% |
| Amounts payable | 17/49 | €21,967 | €56,384 | +€34,417 | +156.7% |
| Amounts payable within one year | 42/48 | €21,967 | €56,384 | +€34,417 | +156.7% |
| Financial debts | 43 | - | €1,683 | +€1,683 | |
| Credit institutions | 430/8 | - | €1,683 | +€1,683 | |
| Trade debts | 44 | €957 | €841 | -€116 | -12.1% |
| Suppliers | 440/4 | €957 | €841 | -€116 | -12.1% |
| Taxes, remuneration and social security | 45 | €14,968 | €6,670 | -€8,298 | -55.4% |
| Taxes | 450/3 | €14,968 | €6,670 | -€8,298 | -55.4% |
| Other amounts payable | 47/48 | €6,042 | €47,190 | +€41,148 | +681.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,154 | €6,756 | +€1,603 | +31.1% |
| Other operating charges | 640/8 | €615 | €432 | -€183 | -29.8% |
| Non-recurring operating charges | 66A | - | €490 | +€490 | |
| Gross operating margin | 9900 | €55,035 | €27,398 | -€27,637 | -50.2% |
| Operating profit (loss) | 9901 | €49,266 | €19,720 | -€29,547 | -60.0% |
| Financial income | 75/76B | €23 | - | -€23 | |
| Recurring financial income | 75 | €23 | - | -€23 | |
| Financial charges | 65/66B | €965 | €961 | -€4 | -0.5% |
| Recurring financial charges | 65 | €926 | €961 | +€34 | +3.7% |
| Non-recurring financial charges | 66B | €39 | - | -€39 | |
| Profit (loss) for the period before taxes | 9903 | €48,324 | €18,759 | -€29,565 | -61.2% |
| Income taxes | 67/77 | €10,350 | €4,198 | -€6,152 | -59.4% |
| Profit (loss) for the period | 9904 | €37,974 | €14,561 | -€23,413 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,974 | €14,561 | -€23,413 | -61.7% |
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 9 October 2026 via checked.be.