Production MVA: 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.
Production MVA
Largest movements
- Receivables within one year +€17,011
up €17,011 (+81.0%), from €21,001 to €38,011
of which Other amounts receivable: +€11,523
- Cash -€9,416
down €9,416 (-16.6%), from €56,557 to €47,142
mainly Other debts (-€40,200) and Receivables within one year (-€17,011)
- Current investments -€7,862
down €7,862 (-20.0%), from €39,245 to €31,383
- Deferred charges and accrued income -€1,852
down €1,852 (-87.8%), from €2,110 to €258
- Profit (loss) carried forward +€40,513
up €40,513 (+538%), from €7,526 to €48,039
- Other debts -€40,200
no longer reported in 2025 (was €40,200)
- Tax, wage and social debts +€5,963
up €5,963 (+48.3%), from €12,339 to €18,302
- Advances received -€5,100
down €5,100 (-91.1%), from €5,600 to €500
- Trade debts -€3,883
down €3,883 (-10.0%), from €38,738 to €34,855
- Gross operating margin +€17,620
up €17,620 (+41.6%), from €42,370 to €59,990
- Taxes +€7,637
up €7,637 (+89.2%), from €8,567 to €16,204
- Other operating charges -€3,098
down €3,098 (-67.2%), from €4,609 to €1,511
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 | €125,169 | €122,433 | -€2,736 | -2.2% |
| Fixed assets | 21/28 | €6,257 | €5,640 | -€617 | -9.9% |
| Tangible fixed assets | 22/27 | €1,457 | €840 | -€617 | -42.4% |
| Plant, machinery and equipment | 23 | €274 | €114 | -€160 | -58.3% |
| Furniture and vehicles | 24 | €1,183 | €726 | -€458 | -38.7% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €118,912 | €116,794 | -€2,119 | -1.8% |
| Amounts receivable within one year | 40/41 | €21,001 | €38,011 | +€17,011 | +81.0% |
| Trade receivables | 40 | €15,204 | €20,692 | +€5,487 | +36.1% |
| Other amounts receivable | 41 | €5,796 | €17,320 | +€11,523 | +199% |
| Current investments | 50/53 | €39,245 | €31,383 | -€7,862 | -20.0% |
| Cash at bank and in hand | 54/58 | €56,557 | €47,142 | -€9,416 | -16.6% |
| Deferred charges and accrued income | 490/1 | €2,110 | €258 | -€1,852 | -87.8% |
| Total equity and liabilities | 10/49 | €125,169 | €122,433 | -€2,736 | -2.2% |
| Equity | 10/15 | €27,986 | €68,499 | +€40,513 | +145% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,526 | €48,039 | +€40,513 | +538% |
| Amounts payable | 17/49 | €97,183 | €53,934 | -€43,248 | -44.5% |
| Amounts payable within one year | 42/48 | €97,183 | €53,934 | -€43,248 | -44.5% |
| Financial debts | 43 | €305 | €277 | -€28 | -9.3% |
| Credit institutions | 430/8 | €305 | €277 | -€28 | -9.3% |
| Trade debts | 44 | €38,738 | €34,855 | -€3,883 | -10.0% |
| Suppliers | 440/4 | €38,738 | €34,855 | -€3,883 | -10.0% |
| Advances received on contracts in progress | 46 | €5,600 | €500 | -€5,100 | -91.1% |
| Taxes, remuneration and social security | 45 | €12,339 | €18,302 | +€5,963 | +48.3% |
| Taxes | 450/3 | €12,339 | €18,302 | +€5,963 | +48.3% |
| Other amounts payable | 47/48 | €40,200 | - | -€40,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €742 | €617 | -€124 | -16.8% |
| Other operating charges | 640/8 | €4,609 | €1,511 | -€3,098 | -67.2% |
| Gross operating margin | 9900 | €42,370 | €59,990 | +€17,620 | +41.6% |
| Operating profit (loss) | 9901 | €37,019 | €57,862 | +€20,843 | +56.3% |
| Financial income | 75/76B | €303 | €834 | +€531 | +175% |
| Recurring financial income | 75 | €303 | €408 | +€105 | +34.7% |
| Non-recurring financial income | 76B | - | €426 | +€426 | |
| Financial charges | 65/66B | €2,282 | €1,979 | -€302 | -13.2% |
| Recurring financial charges | 65 | €2,282 | €1,979 | -€302 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €35,041 | €56,717 | +€21,676 | +61.9% |
| Income taxes | 67/77 | €8,567 | €16,204 | +€7,637 | +89.2% |
| Profit (loss) for the period | 9904 | €26,474 | €40,513 | +€14,039 | +53.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,474 | €40,513 | +€14,039 | +53.0% |
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 27 October 2026 via checked.be.