BE MG: 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.
BE MG
Largest movements
- Financial fixed assets +€230,000
up €230,000 (+90196.1%), from €255 to €230,255
- Receivables within one year -€18,365
down €18,365 (-45.9%), from €39,968 to €21,603
of which Trade receivables: -€18,365
- Cash -€13,981
down €13,981 (-19.2%), from €72,648 to €58,667
mainly Investment in fixed assets (net) (-€234,722) and Trade debts (-€7,832)
- Debts after one year +€143,963
new in 2025: €143,963
- Other debts +€37,723
up €37,723 (+77.5%), from €48,698 to €86,421
- Current portion of long-term debt +€13,806
up €13,806 (+272.8%), from €5,061 to €18,867
- Reserves +€8,500
up €8,500 (+531.3%), from €1,600 to €10,100
of which Distributable reserves: +€8,500
- Trade debts -€7,832
down €7,832 (-21.8%), from €35,859 to €28,027
- Gross operating margin -€6,048
down €6,048 (-18.7%), from €32,328 to €26,280
- Financial charges +€3,264
up €3,264 (+189.8%), from €1,720 to €4,984
- Taxes -€2,877
down €2,877 (-30.5%), from €9,445 to €6,568
- Depreciation +€1,938
up €1,938 (+50.2%), from €3,862 to €5,800
- Other operating charges -€1,663
down €1,663 (-80.6%), from €2,063 to €400
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 | €139,279 | €335,855 | +€196,576 | +141.1% |
| Fixed assets | 21/28 | €26,663 | €255,585 | +€228,922 | +858.6% |
| Tangible fixed assets | 22/27 | €26,408 | €25,330 | -€1,078 | -4.1% |
| Land and buildings | 22 | €24,201 | €19,941 | -€4,260 | -17.6% |
| Plant, machinery and equipment | 23 | €2,207 | €2,634 | +€427 | +19.3% |
| Furniture and vehicles | 24 | - | €2,755 | +€2,755 | |
| Financial fixed assets | 28 | €255 | €230,255 | +€230,000 | +90196.1% |
| Current assets | 29/58 | €112,616 | €80,270 | -€32,346 | -28.7% |
| Amounts receivable within one year | 40/41 | €39,968 | €21,603 | -€18,365 | -45.9% |
| Trade receivables | 40 | €29,968 | €11,603 | -€18,365 | -61.3% |
| Other amounts receivable | 41 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,648 | €58,667 | -€13,981 | -19.2% |
| Total equity and liabilities | 10/49 | €139,279 | €335,855 | +€196,576 | +141.1% |
| Equity | 10/15 | €36,079 | €44,648 | +€8,569 | +23.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,600 | €10,100 | +€8,500 | +531.3% |
| Non-distributable reserves | 130/1 | €1,600 | €1,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,600 | €1,600 | = | 0.0% |
| Distributable reserves | 133 | - | €8,500 | +€8,500 | |
| Profit (loss) carried forward | 14 | €15,879 | €15,948 | +€69 | +0.4% |
| Amounts payable | 17/49 | €103,200 | €291,207 | +€188,007 | +182.2% |
| Amounts payable after more than one year | 17 | - | €143,963 | +€143,963 | |
| Financial debts | 170/4 | - | €143,963 | +€143,963 | |
| Amounts payable within one year | 42/48 | €103,200 | €147,244 | +€44,044 | +42.7% |
| Current portion of amounts payable after more than one year | 42 | €5,061 | €18,867 | +€13,806 | +272.8% |
| Financial debts | 43 | - | €1,870 | +€1,870 | |
| Credit institutions | 430/8 | - | €1,870 | +€1,870 | |
| Trade debts | 44 | €35,859 | €28,027 | -€7,832 | -21.8% |
| Suppliers | 440/4 | €35,859 | €28,027 | -€7,832 | -21.8% |
| Taxes, remuneration and social security | 45 | €13,582 | €12,059 | -€1,523 | -11.2% |
| Taxes | 450/3 | €13,582 | €12,059 | -€1,523 | -11.2% |
| Other amounts payable | 47/48 | €48,698 | €86,421 | +€37,723 | +77.5% |
| Non-recurring operating income | 76A | €6,088 | - | -€6,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,862 | €5,800 | +€1,938 | +50.2% |
| Other operating charges | 640/8 | €2,063 | €400 | -€1,663 | -80.6% |
| Gross operating margin | 9900 | €32,328 | €26,280 | -€6,048 | -18.7% |
| Operating profit (loss) | 9901 | €26,403 | €20,080 | -€6,323 | -23.9% |
| Financial income | 75/76B | - | €41 | +€41 | |
| Recurring financial income | 75 | - | €41 | +€41 | |
| Financial charges | 65/66B | €1,720 | €4,984 | +€3,264 | +189.8% |
| Recurring financial charges | 65 | €1,720 | €4,984 | +€3,264 | +189.8% |
| Profit (loss) for the period before taxes | 9903 | €24,683 | €15,137 | -€9,546 | -38.7% |
| Income taxes | 67/77 | €9,445 | €6,568 | -€2,877 | -30.5% |
| Profit (loss) for the period | 9904 | €15,238 | €8,569 | -€6,669 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,238 | €8,569 | -€6,669 | -43.8% |
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 3 October 2026 via checked.be.