MVVR: 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.
MVVR
Largest movements
- Tangible fixed assets +€237,034
up €237,034 (+315.8%), from €75,056 to €312,090
of which Land and buildings: +€249,967
- Cash +€53,007
up €53,007 (+1505.2%), from €3,522 to €56,528
mainly Other debts (+€243,581) and Net result for the year (+€48,108)
- Receivables within one year -€23,264
down €23,264 (-41.2%), from €56,418 to €33,154
of which Trade receivables: -€36,391
- Other debts +€243,581
up €243,581 (+2227.8%), from €10,934 to €254,514
- Profit (loss) carried forward +€48,108
up €48,108 (+14.4%), from €333,958 to €382,066
- Tax, wage and social debts -€24,417
down €24,417 (-70.3%), from €34,707 to €10,291
of which Taxes: -€24,417
- Other operating charges +€30,436
up €30,436 (+1522.5%), from €1,999 to €32,435
- Taxes -€10,452
down €10,452 (-43.2%), from €24,186 to €13,735
- Gross operating margin -€10,220
down €10,220 (-8.9%), from €114,864 to €104,644
- Depreciation +€6,728
up €6,728 (+70.1%), from €9,601 to €16,329
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 | €385,313 | €652,104 | +€266,791 | +69.2% |
| Fixed assets | 21/28 | €75,056 | €312,090 | +€237,034 | +315.8% |
| Tangible fixed assets | 22/27 | €75,056 | €312,090 | +€237,034 | +315.8% |
| Land and buildings | 22 | - | €249,967 | +€249,967 | |
| Plant, machinery and equipment | 23 | €15,283 | €13,131 | -€2,152 | -14.1% |
| Furniture and vehicles | 24 | €59,773 | €48,993 | -€10,780 | -18.0% |
| Current assets | 29/58 | €310,257 | €340,014 | +€29,757 | +9.6% |
| Amounts receivable within one year | 40/41 | €56,418 | €33,154 | -€23,264 | -41.2% |
| Trade receivables | 40 | €53,833 | €17,442 | -€36,391 | -67.6% |
| Other amounts receivable | 41 | €2,585 | €15,712 | +€13,127 | +507.9% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,522 | €56,528 | +€53,007 | +1505.2% |
| Deferred charges and accrued income | 490/1 | €318 | €331 | +€14 | +4.4% |
| Total equity and liabilities | 10/49 | €385,313 | €652,104 | +€266,791 | +69.2% |
| Equity | 10/15 | €335,958 | €384,066 | +€48,108 | +14.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €333,958 | €382,066 | +€48,108 | +14.4% |
| Amounts payable | 17/49 | €49,356 | €268,039 | +€218,683 | +443.1% |
| Amounts payable within one year | 42/48 | €48,219 | €268,039 | +€219,820 | +455.9% |
| Trade debts | 44 | €2,577 | €3,233 | +€656 | +25.5% |
| Suppliers | 440/4 | €2,577 | €3,233 | +€656 | +25.5% |
| Taxes, remuneration and social security | 45 | €34,707 | €10,291 | -€24,417 | -70.3% |
| Taxes | 450/3 | €32,657 | €8,241 | -€24,417 | -74.8% |
| Remuneration and social security | 454/9 | €2,050 | €2,050 | = | 0.0% |
| Other amounts payable | 47/48 | €10,934 | €254,514 | +€243,581 | +2227.8% |
| Accrued charges and deferred income | 492/3 | €1,137 | - | -€1,137 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,601 | €16,329 | +€6,728 | +70.1% |
| Other operating charges | 640/8 | €1,999 | €32,435 | +€30,436 | +1522.5% |
| Gross operating margin | 9900 | €114,864 | €104,644 | -€10,220 | -8.9% |
| Operating profit (loss) | 9901 | €103,264 | €55,880 | -€47,384 | -45.9% |
| Financial income | 75/76B | €5,904 | €6,207 | +€304 | +5.1% |
| Recurring financial income | 75 | €5,904 | €6,207 | +€304 | +5.1% |
| Financial charges | 65/66B | €1,339 | €244 | -€1,095 | -81.8% |
| Recurring financial charges | 65 | €1,339 | €244 | -€1,095 | -81.8% |
| Profit (loss) for the period before taxes | 9903 | €107,828 | €61,842 | -€45,986 | -42.6% |
| Income taxes | 67/77 | €24,186 | €13,735 | -€10,452 | -43.2% |
| Profit (loss) for the period | 9904 | €83,642 | €48,108 | -€35,534 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,642 | €48,108 | -€35,534 | -42.5% |
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 7 October 2026 via checked.be.