MVW CONSULT: 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.
MVW CONSULT
Largest movements
- Cash +€58,375
up €58,375 (+17.6%), from €331,785 to €390,159
mainly Net result for the year (+€43,161) and Depreciation (+€9,809)
- Reserves +€43,161
up €43,161 (+4.2%), from €1.0m to €1.1m
- Gross operating margin +€6,544
up €6,544 (+10.2%), from €64,168 to €70,712
- Financial income +€6,386
up €6,386 (+303%), from €2,106 to €8,492
- Taxes +€4,353
up €4,353 (+23.9%), from €18,175 to €22,527
- Depreciation -€733
down €733 (-7.0%), from €10,542 to €9,809
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.
Derived cash bridge
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 | €1,060,710 | €1,115,103 | +€54,393 | +5.1% |
| Fixed assets | 21/28 | €13,330 | €3,521 | -€9,809 | -73.6% |
| Tangible fixed assets | 22/27 | €13,330 | €3,521 | -€9,809 | -73.6% |
| Furniture and vehicles | 24 | €13,102 | €3,384 | -€9,717 | -74.2% |
| Other tangible fixed assets | 26 | €228 | €137 | -€92 | -40.1% |
| Current assets | 29/58 | €1,047,380 | €1,111,582 | +€64,202 | +6.1% |
| Amounts receivable within one year | 40/41 | €2,577 | €2,457 | -€120 | -4.6% |
| Trade receivables | 40 | €120 | - | -€120 | |
| Other amounts receivable | 41 | €2,457 | €2,457 | = | 0.0% |
| Current investments | 50/53 | €712,048 | €717,930 | +€5,882 | +0.8% |
| Cash at bank and in hand | 54/58 | €331,785 | €390,159 | +€58,375 | +17.6% |
| Deferred charges and accrued income | 490/1 | €970 | €1,036 | +€66 | +6.8% |
| Total equity and liabilities | 10/49 | €1,060,710 | €1,115,103 | +€54,393 | +5.1% |
| Equity | 10/15 | €1,028,836 | €1,071,997 | +€43,161 | +4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,016,436 | €1,059,597 | +€43,161 | +4.2% |
| Distributable reserves | 133 | €1,016,436 | €1,059,597 | +€43,161 | +4.2% |
| Amounts payable | 17/49 | €31,874 | €43,106 | +€11,233 | +35.2% |
| Amounts payable within one year | 42/48 | €30,605 | €41,783 | +€11,178 | +36.5% |
| Trade debts | 44 | €2,128 | €746 | -€1,381 | -64.9% |
| Suppliers | 440/4 | €2,128 | €746 | -€1,381 | -64.9% |
| Taxes, remuneration and social security | 45 | €3,776 | €12,844 | +€9,068 | +240% |
| Taxes | 450/3 | €3,776 | €12,844 | +€9,068 | +240% |
| Other amounts payable | 47/48 | €24,701 | €28,193 | +€3,491 | +14.1% |
| Accrued charges and deferred income | 492/3 | €1,268 | €1,324 | +€55 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,542 | €9,809 | -€733 | -7.0% |
| Other operating charges | 640/8 | €1,655 | €1,710 | +€55 | +3.3% |
| Gross operating margin | 9900 | €64,168 | €70,712 | +€6,544 | +10.2% |
| Operating profit (loss) | 9901 | €51,971 | €59,193 | +€7,222 | +13.9% |
| Financial income | 75/76B | €2,106 | €8,492 | +€6,386 | +303% |
| Recurring financial income | 75 | €2,106 | €8,492 | +€6,386 | +303% |
| Financial charges | 65/66B | €1,917 | €1,998 | +€81 | +4.2% |
| Recurring financial charges | 65 | €1,917 | €1,998 | +€81 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €52,160 | €65,688 | +€13,528 | +25.9% |
| Income taxes | 67/77 | €18,175 | €22,527 | +€4,353 | +23.9% |
| Profit (loss) for the period | 9904 | €33,985 | €43,161 | +€9,175 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,985 | €43,161 | +€9,175 | +27.0% |
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 25 October 2026 via checked.be.