MVVP: 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.
MVVP
Largest movements
- Cash -€742,140
down €742,140 (-62.7%), from €1.2m to €441,043
mainly Contributions, distributions and other (-€743,396) and Other debts (-€678,174)
- Receivables within one year +€120,026
up €120,026 (+14.7%), from €818,421 to €938,447
of which Other amounts receivable: +€68,692
- Other debts -€678,174
down €678,174 (-40.6%), from €1.7m to €993,596
- Reserves +€292,300
up €292,300 (+10825.9%), from €2,700 to €295,000
of which Distributable reserves: +€295,000
- Profit (loss) carried forward -€259,151
down €259,151 (-98.4%), from €263,275 to €4,124
- Accrued charges and deferred income +€75,710
up €75,710 (+31.5%), from €240,154 to €315,864
- Current portion of long-term debt -€50,000
no longer reported in 2024 (was €50,000)
- Write-downs +€70,276
up €70,276 (+257.2%), from €27,320 to €97,596
- Gross operating margin -€61,292
down €61,292 (-5.0%), from €1.2m to €1.2m
- Depreciation -€51,742
down €51,742 (-81.3%), from €63,615 to €11,873
- Staff costs +€12,639
up €12,639 (+5.2%), from €242,811 to €255,450
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,430,491 | €1,820,084 | -€610,407 | -25.1% |
| Fixed assets | 21/28 | €25,342 | €13,469 | -€11,873 | -46.9% |
| Tangible fixed assets | 22/27 | €25,342 | €13,469 | -€11,873 | -46.9% |
| Furniture and vehicles | 24 | €25,342 | €13,469 | -€11,873 | -46.9% |
| Current assets | 29/58 | €2,405,149 | €1,806,615 | -€598,534 | -24.9% |
| Stocks and contracts in progress | 3 | €378,081 | €391,041 | +€12,961 | +3.4% |
| Contracts in progress | 37 | €378,081 | €391,041 | +€12,961 | +3.4% |
| Amounts receivable within one year | 40/41 | €818,421 | €938,447 | +€120,026 | +14.7% |
| Trade receivables | 40 | €775,453 | €826,787 | +€51,334 | +6.6% |
| Other amounts receivable | 41 | €42,969 | €111,660 | +€68,692 | +159.9% |
| Cash at bank and in hand | 54/58 | €1,183,183 | €441,043 | -€742,140 | -62.7% |
| Deferred charges and accrued income | 490/1 | €25,463 | €36,084 | +€10,620 | +41.7% |
| Total equity and liabilities | 10/49 | €2,430,491 | €1,820,084 | -€610,407 | -25.1% |
| Equity | 10/15 | €284,866 | €318,125 | +€33,259 | +11.7% |
| Contributions | 10/11 | €18,891 | €19,001 | +€110 | +0.6% |
| Capital | 10 | €18,891 | - | -€18,891 | |
| Issued capital | 100 | €18,891 | - | -€18,891 | |
| Reserves | 13 | €2,700 | €295,000 | +€292,300 | +10825.9% |
| Non-distributable reserves | 130/1 | €2,700 | - | -€2,700 | |
| Legal reserve | 130 | €2,700 | - | -€2,700 | |
| Distributable reserves | 133 | - | €295,000 | +€295,000 | |
| Profit (loss) carried forward | 14 | €263,275 | €4,124 | -€259,151 | -98.4% |
| Amounts payable | 17/49 | €2,145,625 | €1,501,959 | -€643,666 | -30.0% |
| Amounts payable within one year | 42/48 | €1,905,471 | €1,186,094 | -€719,377 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €44,348 | €50,089 | +€5,741 | +12.9% |
| Suppliers | 440/4 | €44,348 | €50,089 | +€5,741 | +12.9% |
| Taxes, remuneration and social security | 45 | €139,353 | €142,409 | +€3,056 | +2.2% |
| Taxes | 450/3 | €115,107 | €113,434 | -€1,673 | -1.5% |
| Remuneration and social security | 454/9 | €24,246 | €28,975 | +€4,729 | +19.5% |
| Other amounts payable | 47/48 | €1,671,770 | €993,596 | -€678,174 | -40.6% |
| Accrued charges and deferred income | 492/3 | €240,154 | €315,864 | +€75,710 | +31.5% |
| Remuneration, social security and pensions | 62 | €242,811 | €255,450 | +€12,639 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,615 | €11,873 | -€51,742 | -81.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,320 | €97,596 | +€70,276 | +257.2% |
| Other operating charges | 640/8 | €1,189 | €1,790 | +€600 | +50.5% |
| Non-recurring operating charges | 66A | - | €4,831 | +€4,831 | |
| Gross operating margin | 9900 | €1,233,815 | €1,172,522 | -€61,292 | -5.0% |
| Operating profit (loss) | 9901 | €898,880 | €800,982 | -€97,898 | -10.9% |
| Financial income | 75/76B | €653 | €3,284 | +€2,631 | +402.7% |
| Recurring financial income | 75 | €653 | €3,284 | +€2,631 | +402.7% |
| Financial charges | 65/66B | €6,029 | €4,153 | -€1,876 | -31.1% |
| Recurring financial charges | 65 | €6,029 | €4,153 | -€1,876 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €893,504 | €800,113 | -€93,392 | -10.5% |
| Income taxes | 67/77 | €13,504 | €23,458 | +€9,954 | +73.7% |
| Profit (loss) for the period | 9904 | €880,001 | €776,655 | -€103,346 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €880,001 | €776,655 | -€103,346 | -11.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.