MVW LEEMANS: 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 LEEMANS
Largest movements
- Receivables within one year +€151,242
up €151,242 (+30.9%), from €488,929 to €640,171
of which Trade receivables: +€151,242
- Tangible fixed assets -€76,291
down €76,291 (-100%), from €76,291 to €0
- Trade debts +€115,648
up €115,648 (+33.6%), from €343,902 to €459,550
- Current portion of long-term debt -€69,610
down €69,610 (-100%), from €69,610 to €0
- Other debts +€26,575
up €26,575 (+76.1%), from €34,911 to €61,486
- Reserves +€14,092
up €14,092 (+37.8%), from €37,274 to €51,366
of which Distributable reserves: +€14,092
- Debts after one year -€7,592
down €7,592 (-100%), from €7,592 to €0
- Depreciation -€55,743
down €55,743 (-84.1%), from €66,309 to €10,566
- Provisions +€39,570
up €39,570, from -€38,857 to €713
- Gross operating margin -€27,069
down €27,069 (-38.8%), from €69,794 to €42,725
- Staff costs -€26,489
down €26,489 (-89.9%), from €29,459 to €2,970
- Other operating charges +€9,706
up €9,706 (+246%), from €3,944 to €13,650
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 | €565,708 | €640,935 | +€75,227 | +13.3% |
| Fixed assets | 21/28 | €76,291 | €0 | -€76,291 | -100% |
| Tangible fixed assets | 22/27 | €76,291 | €0 | -€76,291 | -100% |
| Leasing and similar rights | 25 | €76,291 | €0 | -€76,291 | -100% |
| Current assets | 29/58 | €489,417 | €640,935 | +€151,518 | +31.0% |
| Amounts receivable within one year | 40/41 | €488,929 | €640,171 | +€151,242 | +30.9% |
| Trade receivables | 40 | €488,179 | €639,421 | +€151,242 | +31.0% |
| Other amounts receivable | 41 | €750 | €750 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €316 | €700 | +€384 | +122% |
| Deferred charges and accrued income | 490/1 | €172 | €64 | -€108 | -62.8% |
| Total equity and liabilities | 10/49 | €565,708 | €640,935 | +€75,227 | +13.3% |
| Equity | 10/15 | €57,274 | €71,366 | +€14,092 | +24.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €37,274 | €51,366 | +€14,092 | +37.8% |
| Non-distributable reserves | 130/1 | €516 | €516 | = | 0.0% |
| Reserves not available under the articles | 1311 | €516 | €516 | = | 0.0% |
| Distributable reserves | 133 | €36,758 | €50,850 | +€14,092 | +38.3% |
| Provisions and deferred taxes | 16 | €47,807 | €48,520 | +€713 | +1.5% |
| Provisions for liabilities and charges | 160/5 | €47,807 | €48,520 | +€713 | +1.5% |
| Environmental obligations | 163 | €47,807 | €48,520 | +€713 | +1.5% |
| Amounts payable | 17/49 | €460,627 | €521,049 | +€60,422 | +13.1% |
| Amounts payable after more than one year | 17 | €7,592 | €0 | -€7,592 | -100% |
| Financial debts | 170/4 | €7,592 | €0 | -€7,592 | -100% |
| Amounts payable within one year | 42/48 | €453,035 | €521,049 | +€68,014 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €69,610 | €0 | -€69,610 | -100% |
| Trade debts | 44 | €343,902 | €459,550 | +€115,648 | +33.6% |
| Suppliers | 440/4 | €343,902 | €459,550 | +€115,648 | +33.6% |
| Taxes, remuneration and social security | 45 | €4,612 | €13 | -€4,599 | -99.7% |
| Taxes | 450/3 | €1,094 | €13 | -€1,081 | -98.8% |
| Remuneration and social security | 454/9 | €3,518 | €0 | -€3,518 | -100% |
| Other amounts payable | 47/48 | €34,911 | €61,486 | +€26,575 | +76.1% |
| Remuneration, social security and pensions | 62 | €29,459 | €2,970 | -€26,489 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,309 | €10,566 | -€55,743 | -84.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€38,857 | €713 | +€39,570 | |
| Other operating charges | 640/8 | €3,944 | €13,650 | +€9,706 | +246% |
| Gross operating margin | 9900 | €69,794 | €42,725 | -€27,069 | -38.8% |
| Operating profit (loss) | 9901 | €8,939 | €14,826 | +€5,887 | +65.9% |
| Financial charges | 65/66B | €4,233 | €734 | -€3,499 | -82.7% |
| Recurring financial charges | 65 | €4,233 | €734 | -€3,499 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | €4,706 | €14,092 | +€9,386 | +199% |
| Profit (loss) for the period | 9904 | €4,706 | €14,092 | +€9,386 | +199% |
| Profit (loss) for the period to be appropriated | 9905 | €4,706 | €14,092 | +€9,386 | +199% |
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 29 October 2026 via checked.be.