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.
MVCON
Largest movements
- Tangible fixed assets -€21,062
down €21,062 (-36.1%), from €58,342 to €37,280
- Receivables within one year +€18,501
up €18,501 (+56.4%), from €32,813 to €51,314
of which Trade receivables: +€10,498
- Debts after one year -€40,593
down €40,593 (-19.4%), from €209,292 to €168,699
- Other debts +€34,400
up €34,400 (+61.9%), from €55,585 to €89,985
- Reserves -€33,280
down €33,280 (-100.0%), from €33,280 to €0
- Trade debts +€19,642
up €19,642 (+1050.6%), from €1,870 to €21,512
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Gross operating margin +€19,776
up €19,776 (+30.1%), from €65,679 to €85,455
- Staff costs +€19,411
up €19,411 (+73.8%), from €26,287 to €45,698
- Financial charges -€1,939
down €1,939 (-13.2%), from €14,635 to €12,696
- Other operating charges -€932
down €932 (-46.1%), from €2,021 to €1,090
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 | €362,825 | €363,171 | +€346 | +0.1% |
| Fixed assets | 21/28 | €313,342 | €292,280 | -€21,062 | -6.7% |
| Tangible fixed assets | 22/27 | €58,342 | €37,280 | -€21,062 | -36.1% |
| Furniture and vehicles | 24 | €58,342 | €37,280 | -€21,062 | -36.1% |
| Financial fixed assets | 28 | €255,000 | €255,000 | = | 0.0% |
| Current assets | 29/58 | €49,483 | €70,891 | +€21,409 | +43.3% |
| Amounts receivable within one year | 40/41 | €32,813 | €51,314 | +€18,501 | +56.4% |
| Trade receivables | 40 | €26,217 | €36,715 | +€10,498 | +40.0% |
| Other amounts receivable | 41 | €6,597 | €14,599 | +€8,003 | +121.3% |
| Cash at bank and in hand | 54/58 | €16,372 | €19,577 | +€3,205 | +19.6% |
| Deferred charges and accrued income | 490/1 | €297 | €0 | -€297 | -100.0% |
| Total equity and liabilities | 10/49 | €362,825 | €363,171 | +€346 | +0.1% |
| Equity | 10/15 | €39,480 | €18,506 | -€20,974 | -53.1% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €33,280 | €0 | -€33,280 | -100.0% |
| Distributable reserves | 133 | €33,280 | €0 | -€33,280 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€94 | -€94 | |
| Amounts payable | 17/49 | €323,345 | €344,665 | +€21,320 | +6.6% |
| Amounts payable after more than one year | 17 | €209,292 | €168,699 | -€40,593 | -19.4% |
| Financial debts | 170/4 | €209,292 | €168,699 | -€40,593 | -19.4% |
| Amounts payable within one year | 42/48 | €112,087 | €174,588 | +€62,501 | +55.8% |
| Current portion of amounts payable after more than one year | 42 | €39,157 | €40,593 | +€1,437 | +3.7% |
| Trade debts | 44 | €1,870 | €21,512 | +€19,642 | +1050.6% |
| Suppliers | 440/4 | €1,870 | €21,512 | +€19,642 | +1050.6% |
| Taxes, remuneration and social security | 45 | €15,476 | €22,498 | +€7,023 | +45.4% |
| Taxes | 450/3 | €9,012 | €16,087 | +€7,075 | +78.5% |
| Remuneration and social security | 454/9 | €6,464 | €6,411 | -€53 | -0.8% |
| Other amounts payable | 47/48 | €55,585 | €89,985 | +€34,400 | +61.9% |
| Accrued charges and deferred income | 492/3 | €1,966 | €1,378 | -€588 | -29.9% |
| Remuneration, social security and pensions | 62 | €26,287 | €45,698 | +€19,411 | +73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,854 | €23,214 | +€360 | +1.6% |
| Other operating charges | 640/8 | €2,021 | €1,090 | -€932 | -46.1% |
| Gross operating margin | 9900 | €65,679 | €85,455 | +€19,776 | +30.1% |
| Operating profit (loss) | 9901 | €14,517 | €15,454 | +€937 | +6.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €14,635 | €12,696 | -€1,939 | -13.2% |
| Recurring financial charges | 65 | €14,635 | €12,696 | -€1,939 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | -€117 | €2,758 | +€2,875 | |
| Income taxes | 67/77 | €1,999 | €2,852 | +€853 | +42.7% |
| Profit (loss) for the period | 9904 | -€2,116 | -€94 | +€2,022 | +95.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,116 | -€94 | +€2,022 | +95.6% |
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 27 September 2026 via checked.be.