M-G ELEC: what changed
M-G ELEC
Largest movements
- Cash +€69,991
up €69,991 (+196%), from €35,681 to €105,672
mainly Net result for the year (+€62,631) and Advances received (+€20,126)
- Tangible fixed assets +€4,824
up €4,824 (+10.6%), from €45,407 to €50,231
of which Furniture and vehicles: +€5,966
- Receivables within one year +€2,595
up €2,595 (+13.4%), from €19,333 to €21,928
of which Trade receivables: +€4,963
- Reserves +€62,631
up €62,631 (+349%), from €17,932 to €80,562
- Trade debts -€33,258
down €33,258 (-89.6%), from €37,130 to €3,872
- Advances received +€20,126
new in 2025: €20,126
- Tax, wage and social debts +€17,781
up €17,781 (+126%), from €14,105 to €31,886
of which Taxes: +€24,580
- Current portion of long-term debt +€7,047
up €7,047 (+132%), from €5,352 to €12,399
- Gross operating margin +€82,120
up €82,120 (+64.6%), from €127,086 to €209,206
- Taxes +€24,821
up €24,821 (+351%), from €7,065 to €31,886
- Staff costs +€18,759
up €18,759 (+22.8%), from €82,158 to €100,917
- Other operating charges -€8,825
down €8,825 (-82.3%), from €10,721 to €1,896
- Depreciation +€4,057
up €4,057 (+54.4%), from €7,456 to €11,513
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,422 | €177,831 | +€77,410 | +77.1% |
| Fixed assets | 21/28 | €45,407 | €50,231 | +€4,824 | +10.6% |
| Tangible fixed assets | 22/27 | €45,407 | €50,231 | +€4,824 | +10.6% |
| Plant, machinery and equipment | 23 | €2,154 | €1,011 | -€1,142 | -53.0% |
| Furniture and vehicles | 24 | €43,254 | €49,219 | +€5,966 | +13.8% |
| Current assets | 29/58 | €55,014 | €127,600 | +€72,586 | +132% |
| Amounts receivable within one year | 40/41 | €19,333 | €21,928 | +€2,595 | +13.4% |
| Trade receivables | 40 | €7,925 | €12,889 | +€4,963 | +62.6% |
| Other amounts receivable | 41 | €11,408 | €9,039 | -€2,368 | -20.8% |
| Cash at bank and in hand | 54/58 | €35,681 | €105,672 | +€69,991 | +196% |
| Total equity and liabilities | 10/49 | €100,422 | €177,831 | +€77,410 | +77.1% |
| Equity | 10/15 | €37,932 | €100,562 | +€62,631 | +165% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €17,932 | €80,562 | +€62,631 | +349% |
| Distributable reserves | 133 | €17,932 | €80,562 | +€62,631 | +349% |
| Amounts payable | 17/49 | €62,490 | €77,269 | +€14,779 | +23.7% |
| Amounts payable after more than one year | 17 | €5,903 | €8,987 | +€3,084 | +52.2% |
| Financial debts | 170/4 | €5,903 | €8,987 | +€3,084 | +52.2% |
| Amounts payable within one year | 42/48 | €56,587 | €68,282 | +€11,695 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €5,352 | €12,399 | +€7,047 | +132% |
| Trade debts | 44 | €37,130 | €3,872 | -€33,258 | -89.6% |
| Suppliers | 440/4 | €37,130 | €3,872 | -€33,258 | -89.6% |
| Advances received on contracts in progress | 46 | - | €20,126 | +€20,126 | |
| Taxes, remuneration and social security | 45 | €14,105 | €31,886 | +€17,781 | +126% |
| Taxes | 450/3 | €7,306 | €31,886 | +€24,580 | +336% |
| Remuneration and social security | 454/9 | €6,799 | - | -€6,799 | |
| Non-recurring operating income | 76A | €12,245 | - | -€12,245 | |
| Remuneration, social security and pensions | 62 | €82,158 | €100,917 | +€18,759 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,456 | €11,513 | +€4,057 | +54.4% |
| Other operating charges | 640/8 | €10,721 | €1,896 | -€8,825 | -82.3% |
| Gross operating margin | 9900 | €127,086 | €209,206 | +€82,120 | +64.6% |
| Operating profit (loss) | 9901 | €26,751 | €94,881 | +€68,130 | +255% |
| Financial income | 75/76B | €3 | €1,274 | +€1,271 | +43,090% |
| Recurring financial income | 75 | €3 | €1,274 | +€1,271 | +43,090% |
| Financial charges | 65/66B | €1,757 | €1,638 | -€118 | -6.7% |
| Recurring financial charges | 65 | €1,757 | €1,638 | -€118 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €24,997 | €94,517 | +€69,520 | +278% |
| Income taxes | 67/77 | €7,065 | €31,886 | +€24,821 | +351% |
| Profit (loss) for the period | 9904 | €17,932 | €62,631 | +€44,699 | +249% |
| Profit (loss) for the period to be appropriated | 9905 | €17,932 | €62,631 | +€44,699 | +249% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.