M&G MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€13,192
up €13,192, from €0 to €13,192
mainly Other debts (+€45,164) and Depreciation (+€7,730)
- Tangible fixed assets -€7,730
down €7,730 (-3.2%), from €241,723 to €233,993
of which Land and buildings: -€7,465
- Receivables within one year +€6,438
up €6,438 (+14.4%), from €44,808 to €51,245
of which Other amounts receivable: +€14,908
- Deferred charges and accrued income +€3,437
up €3,437 (+44.9%), from €7,649 to €11,086
- Other debts +€45,164
up €45,164 (+98.7%), from €45,756 to €90,919
- Debts after one year -€14,425
down €14,425 (-6.6%), from €218,471 to €204,046
- Tax, wage and social debts -€5,127
down €5,127 (-87.8%), from €5,838 to €710
- Profit (loss) carried forward -€4,483
down €4,483 (-15.6%), from -€28,739 to -€33,222
- Trade debts -€3,525
down €3,525 (-66.8%), from €5,276 to €1,751
- Gross operating margin -€13,817
down €13,817 (-62.6%), from €22,088 to €8,271
- Depreciation -€470
down €470 (-5.7%), from €8,200 to €7,730
- Financial charges -€345
down €345 (-9.4%), from €3,657 to €3,312
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.
Derived cash bridge
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 | €300,545 | €315,882 | +€15,337 | +5.1% |
| Fixed assets | 21/28 | €245,673 | €237,943 | -€7,730 | -3.1% |
| Tangible fixed assets | 22/27 | €241,723 | €233,993 | -€7,730 | -3.2% |
| Land and buildings | 22 | €241,457 | €233,992 | -€7,465 | -3.1% |
| Furniture and vehicles | 24 | €266 | €1 | -€265 | -99.6% |
| Financial fixed assets | 28 | €3,950 | €3,950 | = | 0.0% |
| Current assets | 29/58 | €54,872 | €77,939 | +€23,067 | +42.0% |
| Amounts receivable within one year | 40/41 | €44,808 | €51,245 | +€6,438 | +14.4% |
| Trade receivables | 40 | €28,435 | €19,965 | -€8,470 | -29.8% |
| Other amounts receivable | 41 | €16,373 | €31,280 | +€14,908 | +91.1% |
| Current investments | 50/53 | €2,415 | €2,415 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €0 | €13,192 | +€13,192 | |
| Deferred charges and accrued income | 490/1 | €7,649 | €11,086 | +€3,437 | +44.9% |
| Total equity and liabilities | 10/49 | €300,545 | €315,882 | +€15,337 | +5.1% |
| Equity | 10/15 | €8,243 | €3,760 | -€4,483 | -54.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,382 | €18,382 | = | 0.0% |
| Distributable reserves | 133 | €18,382 | €18,382 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,739 | -€33,222 | -€4,483 | -15.6% |
| Amounts payable | 17/49 | €292,302 | €312,122 | +€19,820 | +6.8% |
| Amounts payable after more than one year | 17 | €218,471 | €204,046 | -€14,425 | -6.6% |
| Financial debts | 170/4 | €218,471 | €204,046 | -€14,425 | -6.6% |
| Amounts payable within one year | 42/48 | €73,831 | €108,076 | +€34,245 | +46.4% |
| Current portion of amounts payable after more than one year | 42 | €16,918 | €14,425 | -€2,493 | -14.7% |
| Financial debts | 43 | €44 | €270 | +€227 | +522% |
| Credit institutions | 430/8 | €44 | €270 | +€227 | +522% |
| Trade debts | 44 | €5,276 | €1,751 | -€3,525 | -66.8% |
| Suppliers | 440/4 | €5,276 | €1,751 | -€3,525 | -66.8% |
| Taxes, remuneration and social security | 45 | €5,838 | €710 | -€5,127 | -87.8% |
| Taxes | 450/3 | €5,838 | €710 | -€5,127 | -87.8% |
| Other amounts payable | 47/48 | €45,756 | €90,919 | +€45,164 | +98.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,200 | €7,730 | -€470 | -5.7% |
| Other operating charges | 640/8 | €1,405 | €1,477 | +€72 | +5.1% |
| Gross operating margin | 9900 | €22,088 | €8,271 | -€13,817 | -62.6% |
| Operating profit (loss) | 9901 | €12,482 | -€936 | -€13,419 | |
| Financial charges | 65/66B | €3,657 | €3,312 | -€345 | -9.4% |
| Recurring financial charges | 65 | €3,657 | €3,312 | -€345 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €8,825 | -€4,249 | -€13,074 | |
| Income taxes | 67/77 | €293 | €235 | -€59 | -20.0% |
| Profit (loss) for the period | 9904 | €8,532 | -€4,483 | -€13,015 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,532 | -€4,483 | -€13,015 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.