M.G. PROGES: 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. PROGES
Largest movements
- Financial fixed assets +€450,000
up €450,000 (+109.0%), from €412,880 to €862,880
- Receivables within one year +€322,957
up €322,957 (+597.8%), from €54,026 to €376,983
of which Other amounts receivable: +€174,737
- Tangible fixed assets +€239,945
new in 2025: €239,945
- Receivables after one year -€100,000
no longer reported in 2025 (was €100,000)
- Intangible fixed assets +€18,992
new in 2025: €18,992
- Debts after one year +€548,778
up €548,778 (+1299.7%), from €42,224 to €591,002
of which Financial debts: +€546,000
- Trade debts +€380,864
up €380,864 (+676.0%), from €56,339 to €437,203
- Contributions +€240,000
up €240,000 (+1263.2%), from €19,000 to €259,000
- Reserves -€152,980
down €152,980 (-98.8%), from €154,880 to €1,900
of which Tax-exempt reserves: -€152,980
- Provisions -€50,993
no longer reported in 2025 (was €50,993)
- Financial charges +€10,721
up €10,721 (+4215.7%), from €254 to €10,975
- Gross operating margin +€6,181
up €6,181 (+120.0%), from €5,151 to €11,332
- Taxes -€1,307
no longer reported in 2025 (was €1,307)
- Depreciation +€1,063
new in 2025: €1,063
- Other operating charges +€387
new in 2025: €387
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 | €567,487 | €1,501,848 | +€934,361 | +164.6% |
| Fixed assets | 21/28 | €412,880 | €1,121,817 | +€708,937 | +171.7% |
| Intangible fixed assets | 21 | - | €18,992 | +€18,992 | |
| Tangible fixed assets | 22/27 | - | €239,945 | +€239,945 | |
| Land and buildings | 22 | - | €239,945 | +€239,945 | |
| Financial fixed assets | 28 | €412,880 | €862,880 | +€450,000 | +109.0% |
| Current assets | 29/58 | €154,607 | €380,031 | +€225,423 | +145.8% |
| Amounts receivable after more than one year | 29 | €100,000 | - | -€100,000 | |
| Other amounts receivable | 291 | €100,000 | - | -€100,000 | |
| Amounts receivable within one year | 40/41 | €54,026 | €376,983 | +€322,957 | +597.8% |
| Trade receivables | 40 | €21,780 | €170,000 | +€148,220 | +680.5% |
| Other amounts receivable | 41 | €32,246 | €206,983 | +€174,737 | +541.9% |
| Cash at bank and in hand | 54/58 | €581 | €3,048 | +€2,466 | +424.2% |
| Total equity and liabilities | 10/49 | €567,487 | €1,501,848 | +€934,361 | +164.6% |
| Equity | 10/15 | €312,201 | €398,128 | +€85,927 | +27.5% |
| Contributions | 10/11 | €19,000 | €259,000 | +€240,000 | +1263.2% |
| Reserves | 13 | €154,880 | €1,900 | -€152,980 | -98.8% |
| Non-distributable reserves | 130/1 | €1,900 | - | -€1,900 | |
| Reserves not available under the articles | 1311 | €1,900 | - | -€1,900 | |
| Tax-exempt reserves | 132 | €152,980 | - | -€152,980 | |
| Distributable reserves | 133 | - | €1,900 | +€1,900 | |
| Profit (loss) carried forward | 14 | €138,321 | €137,228 | -€1,093 | -0.8% |
| Provisions and deferred taxes | 16 | €50,993 | - | -€50,993 | |
| Deferred taxes | 168 | €50,993 | - | -€50,993 | |
| Amounts payable | 17/49 | €204,293 | €1,103,720 | +€899,427 | +440.3% |
| Amounts payable after more than one year | 17 | €42,224 | €591,002 | +€548,778 | +1299.7% |
| Financial debts | 170/4 | - | €546,000 | +€546,000 | |
| Advances received on contracts in progress | 176 | €42,224 | €45,002 | +€2,778 | +6.6% |
| Amounts payable within one year | 42/48 | €102,069 | €481,718 | +€379,649 | +372.0% |
| Trade debts | 44 | €56,339 | €437,203 | +€380,864 | +676.0% |
| Suppliers | 440/4 | €56,339 | €437,203 | +€380,864 | +676.0% |
| Taxes, remuneration and social security | 45 | €5,087 | €4,329 | -€758 | -14.9% |
| Taxes | 450/3 | €5,087 | €4,329 | -€758 | -14.9% |
| Other amounts payable | 47/48 | €40,643 | €40,186 | -€457 | -1.1% |
| Accrued charges and deferred income | 492/3 | €60,000 | €31,000 | -€29,000 | -48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,063 | +€1,063 | |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €5,151 | €11,332 | +€6,181 | +120.0% |
| Operating profit (loss) | 9901 | €5,151 | €9,882 | +€4,731 | +91.8% |
| Financial charges | 65/66B | €254 | €10,975 | +€10,721 | +4215.7% |
| Recurring financial charges | 65 | €254 | €10,975 | +€10,721 | +4215.7% |
| Profit (loss) for the period before taxes | 9903 | €4,897 | -€1,093 | -€5,990 | |
| Income taxes | 67/77 | €1,307 | - | -€1,307 | |
| Profit (loss) for the period | 9904 | €3,590 | -€1,093 | -€4,683 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,590 | -€1,093 | -€4,683 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.