M & G CONCEPT: 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 CONCEPT
Largest movements
- Receivables within one year -€98,953
down €98,953 (-24.1%), from €411,345 to €312,392
of which Trade receivables: -€160,532
- Trade debts -€97,174
down €97,174 (-40.9%), from €237,611 to €140,437
- Current portion of long-term debt -€34,696
no longer reported in 2025 (was €34,696)
- Profit (loss) carried forward +€27,474
up €27,474 (+30.9%), from €88,772 to €116,246
- Short-term financial debts -€16,852
down €16,852 (-72.3%), from €23,315 to €6,463
- Debts after one year +€14,858
up €14,858 (+291%), from €5,111 to €19,969
- Taxes +€27,786
up €27,786 (+436%), from €6,372 to €34,158
- Staff costs -€23,693
down €23,693 (-86.6%), from €27,365 to €3,672
- Financial charges -€9,353
down €9,353 (-59.6%), from €15,685 to €6,332
- Gross operating margin +€5,343
up €5,343 (+8.1%), from €66,353 to €71,696
- Depreciation -€1,509
no longer reported in 2025 (was €1,509)
From the 2022 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €413,146 | €312,392 | -€100,754 | -24.4% |
| Fixed assets | 21/28 | €1,801 | - | -€1,801 | |
| Tangible fixed assets | 22/27 | €1,801 | - | -€1,801 | |
| Plant, machinery and equipment | 23 | €1,801 | - | -€1,801 | |
| Current assets | 29/58 | €411,345 | €312,392 | -€98,953 | -24.1% |
| Amounts receivable within one year | 40/41 | €411,345 | €312,392 | -€98,953 | -24.1% |
| Trade receivables | 40 | €286,532 | €126,000 | -€160,532 | -56.0% |
| Other amounts receivable | 41 | €124,813 | €186,392 | +€61,579 | +49.3% |
| Total equity and liabilities | 10/49 | €413,146 | €312,392 | -€100,754 | -24.4% |
| Equity | 10/15 | €94,973 | €122,447 | +€27,474 | +28.9% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,772 | €116,246 | +€27,474 | +30.9% |
| Amounts payable | 17/49 | €318,173 | €189,945 | -€128,228 | -40.3% |
| Amounts payable after more than one year | 17 | €5,111 | €19,969 | +€14,858 | +291% |
| Financial debts | 170/4 | €5,111 | €19,969 | +€14,858 | +291% |
| Amounts payable within one year | 42/48 | €313,062 | €169,976 | -€143,086 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €34,696 | - | -€34,696 | |
| Financial debts | 43 | €23,315 | €6,463 | -€16,852 | -72.3% |
| Credit institutions | 430/8 | €23,315 | €6,463 | -€16,852 | -72.3% |
| Trade debts | 44 | €237,611 | €140,437 | -€97,174 | -40.9% |
| Suppliers | 440/4 | €237,611 | €140,437 | -€97,174 | -40.9% |
| Taxes, remuneration and social security | 45 | €17,440 | €23,076 | +€5,636 | +32.3% |
| Taxes | 450/3 | €6,372 | €22,448 | +€16,076 | +252% |
| Remuneration and social security | 454/9 | €11,068 | €628 | -€10,440 | -94.3% |
| Non-recurring operating income | 76A | €4,039 | €500 | -€3,539 | -87.6% |
| Remuneration, social security and pensions | 62 | €27,365 | €3,672 | -€23,693 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,509 | - | -€1,509 | |
| Other operating charges | 640/8 | €1,606 | €2,473 | +€867 | +54.0% |
| Gross operating margin | 9900 | €66,353 | €71,696 | +€5,343 | +8.1% |
| Operating profit (loss) | 9901 | €35,873 | €65,551 | +€29,678 | +82.7% |
| Financial income | 75/76B | €8,323 | €8,300 | -€23 | -0.3% |
| Recurring financial income | 75 | €8,323 | €8,300 | -€23 | -0.3% |
| Financial charges | 65/66B | €15,685 | €6,332 | -€9,353 | -59.6% |
| Recurring financial charges | 65 | €15,685 | €6,332 | -€9,353 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | €28,511 | €67,519 | +€39,008 | +137% |
| Income taxes | 67/77 | €6,372 | €34,158 | +€27,786 | +436% |
| Profit (loss) for the period | 9904 | €22,139 | €33,361 | +€11,222 | +50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,139 | €33,361 | +€11,222 | +50.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.