M.G.N.: 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.N.
Largest movements
- Tangible fixed assets -€8,458
down €8,458 (-45.4%), from €18,634 to €10,176
of which Other tangible fixed assets: -€5,918
- Cash +€5,713
up €5,713 (+409%), from €1,396 to €7,110
mainly Net result for the year (+€15,672) and Depreciation (+€10,133)
- Stocks and contracts -€5,457
no longer reported in 2024 (was €5,457)
- Receivables within one year -€3,939
no longer reported in 2024 (was €3,939)
of which Trade receivables: -€2,029
- Intangible fixed assets -€1,675
down €1,675 (-11.4%), from €14,667 to €12,992
- Profit (loss) carried forward +€15,672
up €15,672, from -€10,796 to €4,876
- Tax, wage and social debts -€12,016
down €12,016 (-99.6%), from €12,060 to €44
of which Remuneration and social security: -€8,949
- Other debts -€7,316
no longer reported in 2024 (was €7,316)
- Trade debts -€7,293
down €7,293 (-55.9%), from €13,043 to €5,751
- Current portion of long-term debt -€4,147
no longer reported in 2024 (was €4,147)
- Staff costs -€50,016
down €50,016, from €46,480 to -€3,536
- Gross operating margin -€41,184
down €41,184 (-63.7%), from €64,657 to €23,473
- Other operating charges -€7,772
down €7,772 (-88.1%), from €8,817 to €1,045
- Financial charges -€1,807
down €1,807 (-91.9%), from €1,966 to €159
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 | €51,677 | €36,578 | -€15,100 | -29.2% |
| Fixed assets | 21/28 | €39,601 | €29,468 | -€10,133 | -25.6% |
| Intangible fixed assets | 21 | €14,667 | €12,992 | -€1,675 | -11.4% |
| Tangible fixed assets | 22/27 | €18,634 | €10,176 | -€8,458 | -45.4% |
| Furniture and vehicles | 24 | €2,540 | - | -€2,540 | |
| Other tangible fixed assets | 26 | €16,094 | €10,176 | -€5,918 | -36.8% |
| Financial fixed assets | 28 | €6,300 | €6,300 | = | 0.0% |
| Current assets | 29/58 | €12,076 | €7,110 | -€4,967 | -41.1% |
| Stocks and contracts in progress | 3 | €5,457 | - | -€5,457 | |
| Stocks | 30/36 | €5,457 | - | -€5,457 | |
| Amounts receivable within one year | 40/41 | €3,939 | - | -€3,939 | |
| Trade receivables | 40 | €2,029 | - | -€2,029 | |
| Other amounts receivable | 41 | €1,910 | - | -€1,910 | |
| Cash at bank and in hand | 54/58 | €1,396 | €7,110 | +€5,713 | +409% |
| Deferred charges and accrued income | 490/1 | €1,284 | - | -€1,284 | |
| Total equity and liabilities | 10/49 | €51,677 | €36,578 | -€15,100 | -29.2% |
| Equity | 10/15 | €15,111 | €30,783 | +€15,672 | +104% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €7,315 | €7,315 | = | 0.0% |
| Non-distributable reserves | 130/1 | €778 | €778 | = | 0.0% |
| Reserves not available under the articles | 1311 | €778 | €778 | = | 0.0% |
| Distributable reserves | 133 | €6,538 | €6,538 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,796 | €4,876 | +€15,672 | |
| Amounts payable | 17/49 | €36,567 | €5,795 | -€30,772 | -84.2% |
| Amounts payable within one year | 42/48 | €36,567 | €5,795 | -€30,772 | -84.2% |
| Current portion of amounts payable after more than one year | 42 | €4,147 | - | -€4,147 | |
| Trade debts | 44 | €13,043 | €5,751 | -€7,293 | -55.9% |
| Suppliers | 440/4 | €13,043 | €5,751 | -€7,293 | -55.9% |
| Taxes, remuneration and social security | 45 | €12,060 | €44 | -€12,016 | -99.6% |
| Taxes | 450/3 | €3,110 | €44 | -€3,066 | -98.6% |
| Remuneration and social security | 454/9 | €8,949 | - | -€8,949 | |
| Other amounts payable | 47/48 | €7,316 | - | -€7,316 | |
| Remuneration, social security and pensions | 62 | €46,480 | -€3,536 | -€50,016 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,133 | €10,133 | = | 0.0% |
| Other operating charges | 640/8 | €8,817 | €1,045 | -€7,772 | -88.1% |
| Gross operating margin | 9900 | €64,657 | €23,473 | -€41,184 | -63.7% |
| Operating profit (loss) | 9901 | -€773 | €15,831 | +€16,605 | |
| Financial income | 75/76B | €33 | €0 | -€33 | -99.9% |
| Recurring financial income | 75 | €33 | €0 | -€33 | -99.9% |
| Financial charges | 65/66B | €1,966 | €159 | -€1,807 | -91.9% |
| Recurring financial charges | 65 | €1,966 | €159 | -€1,807 | -91.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,706 | €15,672 | +€18,378 | |
| Profit (loss) for the period | 9904 | -€2,706 | €15,672 | +€18,378 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,706 | €15,672 | +€18,378 |
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 23 October 2026 via checked.be.