M.G. PHARMA: 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. PHARMA
Largest movements
- Intangible fixed assets -€28,274
down €28,274 (-11.2%), from €253,069 to €224,795
- Cash -€18,508
down €18,508 (-59.4%), from €31,155 to €12,647
mainly Debts after one year (-€48,986) and Investment in fixed assets (net) (-€24,741)
- Tangible fixed assets +€11,957
up €11,957 (+3.9%), from €307,103 to €319,061
of which Land and buildings: +€15,184
- Debts after one year -€48,986
down €48,986 (-8.3%), from €591,698 to €542,712
of which Financial debts: -€42,486
- Reserves +€16,390
up €16,390 (+1060.2%), from €1,546 to €17,936
- Short-term financial debts -€8,908
down €8,908 (-27.0%), from €33,000 to €24,092
- Other operating charges -€34,371
down €34,371 (-97.1%), from €35,395 to €1,024
- Gross operating margin -€22,652
down €22,652 (-19.9%), from €113,926 to €91,274
- Financial charges -€6,617
down €6,617 (-19.0%), from €34,805 to €28,188
- Taxes +€3,582
up €3,582 (+369.2%), from €970 to €4,552
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 | €767,427 | €729,401 | -€38,026 | -5.0% |
| Fixed assets | 21/28 | €560,172 | €543,856 | -€16,317 | -2.9% |
| Intangible fixed assets | 21 | €253,069 | €224,795 | -€28,274 | -11.2% |
| Tangible fixed assets | 22/27 | €307,103 | €319,061 | +€11,957 | +3.9% |
| Land and buildings | 22 | €268,233 | €283,416 | +€15,184 | +5.7% |
| Plant, machinery and equipment | 23 | €38,871 | €35,644 | -€3,226 | -8.3% |
| Current assets | 29/58 | €207,255 | €185,546 | -€21,709 | -10.5% |
| Stocks and contracts in progress | 3 | €116,355 | €116,128 | -€227 | -0.2% |
| Stocks | 30/36 | €116,355 | €116,128 | -€227 | -0.2% |
| Amounts receivable within one year | 40/41 | €59,425 | €56,435 | -€2,990 | -5.0% |
| Trade receivables | 40 | €51,561 | €50,486 | -€1,074 | -2.1% |
| Other amounts receivable | 41 | €7,864 | €5,948 | -€1,916 | -24.4% |
| Cash at bank and in hand | 54/58 | €31,155 | €12,647 | -€18,508 | -59.4% |
| Deferred charges and accrued income | 490/1 | €320 | €336 | +€16 | +5.0% |
| Total equity and liabilities | 10/49 | €767,427 | €729,401 | -€38,026 | -5.0% |
| Equity | 10/15 | €2,546 | €18,936 | +€16,390 | +643.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,546 | €17,936 | +€16,390 | +1060.2% |
| Distributable reserves | 133 | €1,546 | €17,936 | +€16,390 | +1060.2% |
| Amounts payable | 17/49 | €764,882 | €710,466 | -€54,416 | -7.1% |
| Amounts payable after more than one year | 17 | €591,698 | €542,712 | -€48,986 | -8.3% |
| Financial debts | 170/4 | €565,698 | €523,212 | -€42,486 | -7.5% |
| Other amounts payable | 178/9 | €26,000 | €19,500 | -€6,500 | -25.0% |
| Amounts payable within one year | 42/48 | €171,300 | €165,858 | -€5,442 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €50,738 | €53,048 | +€2,310 | +4.6% |
| Financial debts | 43 | €33,000 | €24,092 | -€8,908 | -27.0% |
| Other loans | 439 | €33,000 | €24,092 | -€8,908 | -27.0% |
| Trade debts | 44 | €53,166 | €49,174 | -€3,992 | -7.5% |
| Suppliers | 440/4 | €53,166 | €49,174 | -€3,992 | -7.5% |
| Taxes, remuneration and social security | 45 | €293 | €4,786 | +€4,494 | +1536.4% |
| Taxes | 450/3 | €293 | €4,786 | +€4,494 | +1536.4% |
| Other amounts payable | 47/48 | €34,103 | €34,757 | +€654 | +1.9% |
| Accrued charges and deferred income | 492/3 | €1,883 | €1,895 | +€12 | +0.6% |
| Remuneration, social security and pensions | 62 | - | €167 | +€167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,294 | €41,058 | -€237 | -0.6% |
| Other operating charges | 640/8 | €35,395 | €1,024 | -€34,371 | -97.1% |
| Gross operating margin | 9900 | €113,926 | €91,274 | -€22,652 | -19.9% |
| Operating profit (loss) | 9901 | €37,237 | €49,025 | +€11,788 | +31.7% |
| Financial income | 75/76B | €84 | €105 | +€21 | +24.9% |
| Recurring financial income | 75 | €84 | €105 | +€21 | +24.9% |
| Financial charges | 65/66B | €34,805 | €28,188 | -€6,617 | -19.0% |
| Recurring financial charges | 65 | €34,805 | €28,188 | -€6,617 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €2,516 | €20,942 | +€18,426 | +732.3% |
| Income taxes | 67/77 | €970 | €4,552 | +€3,582 | +369.2% |
| Profit (loss) for the period | 9904 | €1,546 | €16,390 | +€14,844 | +960.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,546 | €16,390 | +€14,844 | +960.2% |
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 12 October 2026 via checked.be.