M G +: 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.
M G +
Largest movements
- Current investments +€35,000
new in 2025: €35,000
- Cash -€26,326
down €26,326 (-59.3%), from €44,382 to €18,056
mainly Current investments (-€35,000) and Receivables within one year (-€1,276)
- Receivables within one year +€1,276
up €1,276 (+16.2%), from €7,858 to €9,134
of which Trade receivables: +€791
- Tangible fixed assets -€1,145
down €1,145 (-65.9%), from €1,737 to €592
- Reserves +€8,592
up €8,592 (+18.4%), from €46,722 to €55,314
- Gross operating margin -€2,683
down €2,683 (-15.8%), from €16,998 to €14,315
- Taxes -€1,294
down €1,294 (-25.2%), from €5,137 to €3,843
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 | €53,977 | €62,782 | +€8,805 | +16.3% |
| Fixed assets | 21/28 | €1,737 | €592 | -€1,145 | -65.9% |
| Tangible fixed assets | 22/27 | €1,737 | €592 | -€1,145 | -65.9% |
| Furniture and vehicles | 24 | €1,737 | €592 | -€1,145 | -65.9% |
| Current assets | 29/58 | €52,241 | €62,191 | +€9,950 | +19.0% |
| Amounts receivable within one year | 40/41 | €7,858 | €9,134 | +€1,276 | +16.2% |
| Trade receivables | 40 | €7,691 | €8,482 | +€791 | +10.3% |
| Other amounts receivable | 41 | €167 | €653 | +€485 | +289.8% |
| Current investments | 50/53 | - | €35,000 | +€35,000 | |
| Cash at bank and in hand | 54/58 | €44,382 | €18,056 | -€26,326 | -59.3% |
| Total equity and liabilities | 10/49 | €53,977 | €62,782 | +€8,805 | +16.3% |
| Equity | 10/15 | €49,722 | €58,314 | +€8,592 | +17.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €46,722 | €55,314 | +€8,592 | +18.4% |
| Distributable reserves | 133 | €46,722 | €55,314 | +€8,592 | +18.4% |
| Amounts payable | 17/49 | €4,255 | €4,468 | +€213 | +5.0% |
| Amounts payable within one year | 42/48 | €4,255 | €4,468 | +€213 | +5.0% |
| Trade debts | 44 | €2,092 | €2,020 | -€72 | -3.5% |
| Suppliers | 440/4 | €2,092 | €2,020 | -€72 | -3.5% |
| Taxes, remuneration and social security | 45 | €2,163 | €2,448 | +€285 | +13.2% |
| Taxes | 450/3 | €2,163 | €2,448 | +€285 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,145 | €1,145 | -€0 | 0.0% |
| Other operating charges | 640/8 | €595 | €610 | +€14 | +2.4% |
| Gross operating margin | 9900 | €16,998 | €14,315 | -€2,683 | -15.8% |
| Operating profit (loss) | 9901 | €15,258 | €12,560 | -€2,698 | -17.7% |
| Financial charges | 65/66B | €116 | €126 | +€10 | +8.5% |
| Recurring financial charges | 65 | €116 | €126 | +€10 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €15,142 | €12,435 | -€2,708 | -17.9% |
| Income taxes | 67/77 | €5,137 | €3,843 | -€1,294 | -25.2% |
| Profit (loss) for the period | 9904 | €10,005 | €8,592 | -€1,413 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,005 | €8,592 | -€1,413 | -14.1% |
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 29 September 2026 via checked.be.