MVV: 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.
MVV
Largest movements
- Cash +€27,265
up €27,265 (+31.0%), from €88,015 to €115,279
mainly Net result for the year (+€34,047) and Depreciation (+€1,376)
- Tangible fixed assets -€1,376
down €1,376 (-21.7%), from €6,328 to €4,952
- Reserves +€34,047
up €34,047 (+55.1%), from €61,802 to €95,848
- Tax, wage and social debts -€9,756
down €9,756 (-34.1%), from €28,647 to €18,891
- Gross operating margin -€9,390
down €9,390 (-16.1%), from €58,480 to €49,090
- Taxes -€2,701
down €2,701 (-17.3%), from €15,645 to €12,944
- Depreciation +€825
up €825 (+149.9%), from €550 to €1,376
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 | €96,164 | €121,287 | +€25,124 | +26.1% |
| Fixed assets | 21/28 | €6,328 | €4,952 | -€1,376 | -21.7% |
| Tangible fixed assets | 22/27 | €6,328 | €4,952 | -€1,376 | -21.7% |
| Plant, machinery and equipment | 23 | €6,328 | €4,952 | -€1,376 | -21.7% |
| Current assets | 29/58 | €89,836 | €116,335 | +€26,499 | +29.5% |
| Amounts receivable within one year | 40/41 | €1,822 | €1,056 | -€766 | -42.0% |
| Other amounts receivable | 41 | €1,822 | €1,056 | -€766 | -42.0% |
| Cash at bank and in hand | 54/58 | €88,015 | €115,279 | +€27,265 | +31.0% |
| Total equity and liabilities | 10/49 | €96,164 | €121,287 | +€25,124 | +26.1% |
| Equity | 10/15 | €66,802 | €100,848 | +€34,047 | +51.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €61,802 | €95,848 | +€34,047 | +55.1% |
| Distributable reserves | 133 | €61,802 | €95,848 | +€34,047 | +55.1% |
| Amounts payable | 17/49 | €29,362 | €20,439 | -€8,923 | -30.4% |
| Amounts payable within one year | 42/48 | €29,362 | €20,439 | -€8,923 | -30.4% |
| Trade debts | 44 | €715 | €715 | +€1 | +0.1% |
| Suppliers | 440/4 | €715 | €715 | +€1 | +0.1% |
| Taxes, remuneration and social security | 45 | €28,647 | €18,891 | -€9,756 | -34.1% |
| Taxes | 450/3 | €28,647 | €18,891 | -€9,756 | -34.1% |
| Other amounts payable | 47/48 | - | €832 | +€832 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €550 | €1,376 | +€825 | +149.9% |
| Other operating charges | 640/8 | €772 | €670 | -€102 | -13.2% |
| Gross operating margin | 9900 | €58,480 | €49,090 | -€9,390 | -16.1% |
| Operating profit (loss) | 9901 | €57,158 | €47,045 | -€10,113 | -17.7% |
| Financial charges | 65/66B | €69 | €54 | -€15 | -21.5% |
| Recurring financial charges | 65 | €69 | €54 | -€15 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €57,089 | €46,991 | -€10,098 | -17.7% |
| Income taxes | 67/77 | €15,645 | €12,944 | -€2,701 | -17.3% |
| Profit (loss) for the period | 9904 | €41,444 | €34,047 | -€7,397 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,444 | €34,047 | -€7,397 | -17.8% |
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 12 October 2026 via checked.be.