M & G: 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.
M & G
Largest movements
- Financial fixed assets -€150,000
down €150,000 (-42.9%), from €350,000 to €200,000
- Tangible fixed assets -€31,796
down €31,796 (-5.7%), from €554,643 to €522,847
- Other debts -€155,773
down €155,773 (-52.9%), from €294,611 to €138,838
- Profit (loss) carried forward +€34,526
up €34,526 (+12.7%), from -€271,485 to -€236,959
- Reserves -€22,358
down €22,358 (-6.8%), from €327,652 to €305,294
- Debts after one year -€19,568
down €19,568 (-5.5%), from €352,821 to €333,253
- Gross operating margin +€19,902
up €19,902 (+77.6%), from €25,649 to €45,551
- Financial income -€12,000
down €12,000 (-57.1%), from €21,000 to €9,000
- Depreciation +€9,657
up €9,657 (+33.6%), from €28,768 to €38,425
- Financial charges -€500
down €500 (-5.2%), from €9,649 to €9,149
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €905,283 | €724,452 | -€180,831 | -20.0% |
| Fixed assets | 21/28 | €904,643 | €722,847 | -€181,796 | -20.1% |
| Tangible fixed assets | 22/27 | €554,643 | €522,847 | -€31,796 | -5.7% |
| Land and buildings | 22 | €554,643 | €522,847 | -€31,796 | -5.7% |
| Financial fixed assets | 28 | €350,000 | €200,000 | -€150,000 | -42.9% |
| Current assets | 29/58 | €641 | €1,605 | +€965 | +151% |
| Amounts receivable within one year | 40/41 | €38 | - | -€38 | |
| Trade receivables | 40 | €38 | - | -€38 | |
| Cash at bank and in hand | 54/58 | €359 | €1,448 | +€1,089 | +304% |
| Deferred charges and accrued income | 490/1 | €244 | €157 | -€86 | -35.4% |
| Total equity and liabilities | 10/49 | €905,283 | €724,452 | -€180,831 | -20.0% |
| Equity | 10/15 | €118,166 | €130,334 | +€12,168 | +10.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €327,652 | €305,294 | -€22,358 | -6.8% |
| Tax-exempt reserves | 132 | €327,652 | €305,294 | -€22,358 | -6.8% |
| Profit (loss) carried forward | 14 | -€271,485 | -€236,959 | +€34,526 | +12.7% |
| Provisions and deferred taxes | 16 | €109,217 | €101,765 | -€7,453 | -6.8% |
| Deferred taxes | 168 | €109,217 | €101,765 | -€7,453 | -6.8% |
| Amounts payable | 17/49 | €677,900 | €492,353 | -€185,546 | -27.4% |
| Amounts payable after more than one year | 17 | €352,821 | €333,253 | -€19,568 | -5.5% |
| Financial debts | 170/4 | €352,821 | €333,253 | -€19,568 | -5.5% |
| Amounts payable within one year | 42/48 | €324,025 | €159,100 | -€164,925 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €23,867 | €19,568 | -€4,299 | -18.0% |
| Trade debts | 44 | €5,547 | €694 | -€4,853 | -87.5% |
| Suppliers | 440/4 | €5,547 | €694 | -€4,853 | -87.5% |
| Other amounts payable | 47/48 | €294,611 | €138,838 | -€155,773 | -52.9% |
| Accrued charges and deferred income | 492/3 | €1,054 | - | -€1,054 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,768 | €38,425 | +€9,657 | +33.6% |
| Other operating charges | 640/8 | €2,253 | €2,261 | +€8 | +0.3% |
| Gross operating margin | 9900 | €25,649 | €45,551 | +€19,902 | +77.6% |
| Operating profit (loss) | 9901 | -€5,373 | €4,864 | +€10,237 | |
| Financial income | 75/76B | €21,000 | €9,000 | -€12,000 | -57.1% |
| Recurring financial income | 75 | €21,000 | €9,000 | -€12,000 | -57.1% |
| Financial charges | 65/66B | €9,649 | €9,149 | -€500 | -5.2% |
| Recurring financial charges | 65 | €9,649 | €9,149 | -€500 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €5,979 | €4,715 | -€1,263 | -21.1% |
| Transfer from deferred taxes | 780 | €6,139 | €7,453 | +€1,313 | +21.4% |
| Profit (loss) for the period | 9904 | €12,118 | €12,168 | +€50 | +0.4% |
| Transfer from tax-exempt reserves | 789 | €18,418 | €22,358 | +€3,940 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,535 | €34,526 | +€3,990 | +13.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.