MG System
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 24% higher than in 2024.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| in full-time equivalents | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 |
| On a permanent contract | 1 | 1 |
| Joined | 1 | - |
| Left | 0 | - |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €3,751 | €143,668 |
| Depreciation and write-downs of the year | €174 | €19,162 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Turnover70 | €238,988 | €693,785 | ▲ 190% |
| Non-recurring operating income76A | €1,169 | €9,323 | ▲ 697% |
| Goods, raw materials, services and sundry goods60/61 | €165,554 | €556,737 | ▲ 236% |
| Remuneration, social security and pensions62 | €5,230 | €42,450 | ▲ 712% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €174 | €19,162 | ▲ 110× |
| Other operating charges640/8 | - | €994 | - |
| Gross operating margin9900 | €74,603 | €148,243 | ▲ 98.7% |
| Operating profit (loss)9901 | €69,199 | €85,638 | ▲ 23.8% |
| Financial income75/76B | - | €0 | - |
| Recurring financial income75 | - | €0 | - |
| Financial charges65/66B | €12 | €2,182 | ▲ 180× |
| Recurring financial charges65 | €12 | €2,182 | ▲ 180× |
| Profit (loss) for the period before taxes9903 | €69,187 | €83,456 | ▲ 20.6% |
| Income taxes67/77 | €17,297 | €23,607 | ▲ 36.5% |
| Profit (loss) for the period9904 | €51,890 | €59,849 | ▲ 15.3% |
| Profit (loss) for the period to be appropriated9905 | €51,890 | €59,849 | ▲ 15.3% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €92,096 | €260,740 | ▲ 183% |
| Fixed assets21/28 | €3,577 | €128,083 | ▲ 36× |
| Tangible fixed assets22/27 | €3,577 | €128,083 | ▲ 36× |
| Plant, machinery and equipment23 | €3,577 | €9,301 | ▲ 160% |
| Furniture and vehicles24 | - | €118,782 | - |
| Current assets29/58 | €88,519 | €132,657 | ▲ 49.9% |
| Amounts receivable within one year40/41 | €86,820 | €105,040 | ▲ 21.0% |
| Trade receivables40 | €84,804 | €100,224 | ▲ 18.2% |
| Other amounts receivable41 | €2,016 | €4,816 | ▲ 139% |
| Cash at bank and in hand54/58 | €575 | €24,889 | ▲ 43× |
| Deferred charges and accrued income490/1 | €1,124 | €2,728 | ▲ 143% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €92,096 | €260,740 | ▲ 183% |
| Equity10/15 | €53,890 | €113,740 | ▲ 111% |
| Contributions10/11 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €51,890 | €111,740 | ▲ 115% |
| Amounts payable17/49 | €38,205 | €147,001 | ▲ 285% |
| Amounts payable after more than one year17 | - | €89,619 | - |
| Financial debts170/4 | - | €89,619 | - |
| Amounts payable within one year42/48 | €38,205 | €57,382 | ▲ 50.2% |
| Trade debts44 | €19,241 | €13,935 | ▼ 27.6% |
| Suppliers440/4 | €19,241 | €13,935 | ▼ 27.6% |
| Taxes, remuneration and social security45 | €17,413 | €42,299 | ▲ 143% |
| Taxes450/3 | €17,297 | €40,903 | ▲ 136% |
| Remuneration and social security454/9 | €116 | €1,395 | ▲ 12× |
| Other amounts payable47/48 | €1,551 | €1,148 | ▼ 26.0% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €51,890 | €59,849 | ▲ 15.3% |
| + Depreciation and write-downs630 | €174 | €19,162 | ▲ 110× |
| Operating cash flow (approximation) | €52,064 | €79,011 | ▲ 51.8% |
| Investment in fixed assets (approximation) | - | -€143,668 | - |
| Change in cash | - | €24,314 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as MG System has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MG System itself: 1.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for MG System. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.